The General Procedures and Policies That Each Party Agrees to Adhere

question 60

Multiple Choice

The general procedures and policies that each party agrees to adhere to during negotiations are:

• A) Ground rules.
• B) Bargaining agenda.
• C) Bargaining tactics.
• D) Closing stage.

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Definitions:

SWOT Analysis

A method of conducting a situation analysis within a marketing plan in which both the internal environment with regard to its Strengths and Weaknesses and the external environment in terms of its Opportunities and Threats are examined.

Strategic Business Unit

A semi-autonomous division or unit of a company that focuses on a specific market or product line, having its own strategy and objectives.

Lifetime Value

The total net profit a company expects to make from a customer over the entire duration of their relationship.

Operational Excellence

An element of organizational leadership that stresses the application of a variety of principles, systems, and tools toward the sustainable improvement of key performance metrics.