can I get this done aas soon as possible? here is the video, but i need done in 6 hours from now, is that...

can I get this done aas soon as possible? here is the video, but i need done in 6 hours from now, is that possible?





Power Asymmetry and the Principal-Agent Problem Background: On the left is Rob, the employee. On the right is Larry, his boss. The full video is on Blackboard, Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult conversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more senior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or negotiation: preparation and goal alignment, re-evaluation of mid-course strategy, and review and coaching. Learning Objectives: Ability to managing the tension between principals and agents (the “principal-agent problem”). Ability to handling difficult conversations Understanding coaching as a managerial responsibility Understanding the differences between the “Dealmaking Mindset” vs. the “Implementation Mindset” Skill in dealing with power asymmetries Ability to Influence without having authority Understanding the “Fixed Mindset” vs. the “Growth Mindset Understanding the Advantages of Using Agents to Represent Your Interests Expertise Substantive knowledge Networks and special influence Emotional detachment Ratification Face saving Understanding the Disadvantages of Using Agents to Represent Your Interests Incompatible incentive structure Loss of control Agreement at any cost Knowledge of how to Work Effectively with Agents Shop around Know your BATNA before meeting with your agent Communicate your interests to your agent without revealing your reservation price Capitalize on the agent’s expertise Tap into your agent’s sources of information Use agent networks Discuss ratification Use your agent to help save face Use your agent to buffer emotions Knowledge of Managing Constituent Relationships A constituent is ostensibly on the “same side” as a principal, but exerts independent influence on the outcome through the principal Understanding the Three Types of Constituencies Superiors Subordinates The constituents themselves Managing Challenges for Constituent Relationships Behind the table barriers Accountability (second table) Decision-making vigilance Impression management and face-saving Prototypical versus peripheral representatives Conflicts of interest Know Strategies for Improving Constituent Relationships Communicate with your constituents Do not expect homogeneity of constituent views Educate your constituents on your role and your limitations Help your constituents to do horizon thinking Key Terms: perceived power A negotiator’s assessment of each party’s potential power, which may or may not square with reality potential power The underlying capacity of the negotiator to obtain benefits from one’s agreement power The potential a person holds to influence others successfully Symmetric versus Asymmetric Power In some negotiation situations, one party has considerately more power as compared to the other partysuch situations are characterized by power asymmetry power tactics Refers to the behaviors designed to use or change the power relationship primary status characteristics Indicators of legitimate authority that are relevant to accomplishing a specific task; e.g., rank, title, previous experience, etc. realized power The extent to which negotiators have claimed benefits from the interaction reputationA socially constructed label that provide a representation that organizes a person’s perception of another person self-fulfilling prophecyA situation that occurs when the beliefs held by a perceiver elicit behavior from a target person in a manner that confirms the perceiver’s expectations status The relative social position or rank given to people or groups by others agreement bias When negotiators focus on reaching common ground with the other party and are reluctant to accept differences of interest, even when such acceptance might create options for joint gain behind the table barrier Refers to how negotiators must sell deals to their own internal constituencies as well as the other party constituent Represents peripheral player in a negotiation that is on the “same side” as a principle, but exerts independent influence on the outcome through their relationship with the principle getting to yes bias A psychological bias in which agreement becomes more important than the contents of the agreement horizon thinking A type of thinking that involves making projections about future outcomes multiparty negotiation When a group of three or more individuals, each representing his or her own interests, attempts to resolve perceived differences of interest second table In a group negotiation, the relationship that parties share with their constituents status quo bias A tendency in decision making and negotiation to prefer current circumstances over proposed new ones tunnel vision The tendency for people in group negotiations to underestimate the number of feasible options and alternatives available Instructions: 1. Before you watch the video read the following chapters in the textbook: a. Power, Ethics, and Reputation, Chapter 8, b. Multiple Parties, Coalitions, and Teams, Chapter 10. c. Review the teaching objectives and key terms above. 2. Watch Part I of the video: Preparation and Goal Alignment. 3. Stop the video. 4. Write some notes that take Rob’s perspective and note how you may feel departing this conversation. 5. Watch Part II. Re-evaluation of Mid-course Strategy. Rob debriefs the first round of the negotiation with Larry, and explains an unexpected complication that the client has hired an agent (“procurement consultant”) to be their lead negotiator. 6. Stop the video. 7. Take notes to record what you think of Larry’s plan. Note how would you advise them to approach this negotiation. 8. Watch Part III. Review and Coaching. Rob negotiates a creative solution with the client and reports back to Larry. 9. Stop the video. 10. Write notes that analyze the choices that Larry and Rob make in this conversation that could undermine future collaboration. 11. Use your notes to write a report about this situation. Your report should be between 500 and 750 words in length. Your report must demonstrate that you understand the key learning objectives listed above. You must correctly use at least 10 of the key terms listed above. Highlight (e.g., italic font, color) these terms in your report when you use them. Upload your report to Blackboard no later than February 17. Revised 8.15.20 All Rights Reserved Revised 8.15.20 All Rights Reserved Power Asymmetry and the Principal - Agent Problem Background: On the left is Rob , th e employee. On the right is L arry , his bo ss . The full video is on Blackboard , Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult c onversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more s enior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or negotiation: preparation and goal alignment, re - evaluation of mid - course strategy, and review and co aching. Learning Objectives: Ability to m anaging the tension between principals and agents (the “principal - agent problem”). Ability to h andling d ifficult c onversations Understanding c oaching as a m anagerial r esponsibility Understanding the differences between the “Dealmaking Mindset” vs. the “Implementation Mindset” Skill in d ealing with p ower a symmetries Ability to Influenc e w ithout having a uthority Revised 8.15.20 All Rights Reserved Power Asymmetry and the Principal-Agent Problem Background: On the left is Rob, the employee. On the right is Larry, his boss. The full video is on Blackboard, Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult conversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more senior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or negotiation: preparation and goal alignment, re-evaluation of mid-course strategy, and review and coaching. Learning Objectives: Ability to managing the tension between principals and agents (the “principal-agent problem”). Ability to handling difficult conversations Understanding coaching as a managerial responsibility Understanding the differences between the “Dealmaking Mindset” vs. the “Implementation Mindset” Skill in dealing with power asymmetries Ability to Influence without having authority