Description A multiparty negotiation is one in which more than two interested p …

Description A multiparty negotiation is one in which more than two interested parties are working together at the table to achieve a collective objective. To illustrate the nature of a multiparty negotiation, let’s extend the example used at the beginning of Chapter 12 (a student is selling an LED Smart TV and puts up notices in the dorm and dining areas). However, now assume that there is not one seller but four roommates who jointly own and are selling the TV. A year ago, each put in $200 to buy the TV; now they have different preferences for what they should do with it. Aaron (A) wants to sell it and simply split up the money because he wants to buy a new smartphone for himself; Bill (B) wants to sell it and buy a smaller, less expensive TV so he can watch his own shows; Chuck (C) wants to sell it and buy a big-screen TV and top-quality audio system that will require each of them to chip in a lot more money; and Dan (D) doesn’t want to sell it at all and thinks the whole thing is a dumb idea. Each party has his own preferences and priorities, and the roommates must collectively decide what they will do, if and when the TV is sold. They might agree to make a single, collective decision about what to do next, or a pair might form some kind of compromise and pool their money, or each might go his separate way. When the parties agree to hold a meeting to discuss the options and make a collective decision, this is a multiparty negotiation that involves unique dynamics in a collective decision-making process. The general model for a multiparty negotiation is represented in Figure 13.1. Each of the parties (there can be three or more) is representing his or her own interests. In a different situation (e.g., they might be representatives of different departments meeting together as a task force), they could be representing the interests of others (see Figure 13.2). Most of Page 407the complexities described in this section increase linearly, if not exponentially, as more parties, constituencies, and audiences are added. Lewicki, R. (2019). Negotiation (8th Edition). McGraw-Hill Higher Education (US). ISBN 978-1-260-04364-8 (bound edition) Describe two-party, coalitions, and multi-party negotiations. Within your description, include a real-life example of how these types of negotiation are used in the business world. Describe the social complexities of the Space Shuttle Challenger explosion. Please start by reviewing Figure 13.1 located on page 406 of your course textbook for background information on the event. What is “groupthink,” and how did it affect the Challenger? Make sure you include your source used for this portion of your research. What do you think you would have done if you were in that Challenger meeting?

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