You and Your Cofounders Have Spent a Year Building and Testing

question 13

Essay

You and your cofounders have spent a year building and testing a home wireless system that is easy to install and will integrate media streaming from phones,television,and the Internet.You have tested the product on family and friends and built a prototype.You now need money to build a pilot test,creating 100 systems and placing them in a display at five selected stores.Identify the best source(s)of capital that you and your cofounders should seek (you will need $100,000).

Appreciate the role of negotiation and dialogue in resolving disputes.

Recognize the impact of management styles on employee relations and conflict.

Understand the significance of creating a safe environment for negotiations.

Identify the benefits and challenges associated with various conflict management styles.

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Definitions:

Illusory Correlation

The belief in a connection between two factors when in reality, there is no such link.

Express Checkout

A dedicated checkout lane in stores for customers purchasing a limited number of items, designed for quick service.

Actor-Observer Bias

A cognitive bias that involves attributing one's own actions to external factors while attributing others' actions to their character or personality.

Self-Serving Bias

A cognitive bias where people attribute positive outcomes to their own actions and negative outcomes to external factors.