What Is Meant by Counterfactual Thinking in Negotiation

question 21

Multiple Choice

What is meant by counterfactual thinking in negotiation?

• A)A negotiator who focuses intensely on what outcome he or she wants
• B)A negotiator who thinks about what might have been but did not occur
• C)A negotiator who plays the devil's advocate with the other party
• D)A negotiator who considers whether the other party will follow through on the terms of their agreement

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Definitions:

Bankruptcy

A legal process involving a person or business that is unable to repay outstanding debts, resulting in the distribution of assets to creditors and possibly leading to the discharge of debts.

Liquidation

The process of closing a business and distributing its assets to claimants, typically during insolvency, paying creditors, and shareholders if funds remain.

Reorganization

The process of restructuring a company's business or legal structures for efficiency, to recover from financial distress, or to better align with strategic goals.

Decreasing Expenses

The process of reducing the costs incurred by a business in order to increase profitability.