320f Exam Questions With Answers All Correct

Mistake 1 - Neglecting the other side's problem {Ans: - you need to understand the problem from the other side's perspective -agreement requires understanding and addressing your counterpart's problem as a means to solving your own}Fischer's logistical battles were burdensome and exhausting: {Ans: Prior to summit push: -customs problem at russian border -charter plane flight problem -poor weather in Nepal during trek to Base Camp -labor unrest among the Nepali porters During summit push: -assumption that ropes were affixed -lead sherpa should have been at front of pack -fischer was supposed to serve as the "sweep" but lost contact with the team and had no radio}organizational culture IS {Ans: strategy (org culture doesn't beat strategy)}What really matters in business and investment? {Ans: MARKET OPPORTUNITY: being in a market with exponential growth with room for lots of mistakes and people with a high need for the product.}What is the golden rule when it comes to investors? {Ans: Take their money, follow their rules (he who has the gold, makes the rules)}Overconfidence bias {Ans: believing too much in our own ability}Negotiation is known as {Ans: "the art of letting them have your way." Understand their