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Managerial Decision Making - Assignment Example

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 This assignment "Managerial Decision Making" discusses the issues that could be involved in a negotiation of the use of nuclear power between the USA and Iran. The assignment analyses cognitive mistakes of the negotiators in this case. The assignment focuses on an acceptable agreement…
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Download file to see previous pages Despite the enormous pressures through sanctions and other measures by the US and its allies, Iran has held ground that it will not stop its nuclear programs. After many rounds of negotiations, it is clear that the US cannot achieve its goal of convincing Iran to stop its nuclear programs and hence this stalemate will have to be addressed by approaching the negotiation table using other approaches. In a stalemate negotiation, the issues of concern must shift from hard-line positions to new ones, which will ensure that the fears of each group are met and addressed. In this case, the solution shifts from a competitive approach where each group wants to win, to a new approach where each group wins, that is, a win-win solution (Bazerman & Moore, 2009). In these negotiations, the issues always boil down to the US wanting to reduce Iran’s nuclear infrastructure and Iran seeking to maintain them, which leads to a stalemate at the end. In such a negotiation, it is important to identify the issues of agreement between the two parties, then the issues of contention and hence decide where to compromise and also where necessary come up with new solutions discussed together on the table. Further, the two groups must now frame the agendas of the negotiations in a more promising way. Like in any negotiation, cognitive mistakes can happen in such a negotiation. Such mistakes include irrational escalation of commitment, self –serving biases, negotiator overconfidence and issues, and problem framing. To avoid irrational escalation of commitment, it is important to have an external advisor, who warns the group when they start acting irrationally when in the heat of the negotiations. In addition, to self-serving biases, it is important for negotiators to listen to others and consider their motivations for their positions in the process (Foreman & Selly, 2001).   ...Download file to see next pagesRead More
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