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Participative Budgeting Results in Setting Unattainable Standards

question 63

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Participative budgeting results in setting unattainable standards.


Definitions:

Goals

Specific, actionable objectives intended to guide behavior and measure success.

Specific Target Point

A clearly defined goal or objective that one party aims to achieve in a negotiation or a set of negotiations.

Resistance Point

The resistance point is the threshold in negotiations beyond which a party will not go; it represents the worst acceptable outcome.

Opening Bid

The initial proposal or offer made by one party to another at the beginning of a negotiation process.

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