The Cost / Value / Price Concept Essay

The Cost / Value / Price Concept Essay

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There are many tools and concepts that were learned in this class, but there are a few that stuck out for me. The first that I would like to mention is the cost/value/price concept. I previously mentioned this in my description of the negotiations exercise, but I feel that it is worth elaborating on here. This concept is useful for a variety of reasons. Most obviously, it gives a useful perspective in negotiations so that clients and contractors can better understand how to move the price in their favor and also to evaluate the outcome of the negotiation. This knowledge is also useful as a consumer though, as it gives further understanding to everyday purchases. Since learning about the cost/value/price concept, I have often questioned whether or not the purchases that I was considering were really worth the price, given what my thoughts were on the cost and the value. Thus, the concept will serve me well in many facets of my life.
Another concept that became a sticking point for me was the rules of engagement. Learning about the rules of engagement brought about a realization of a practice that I was already partially engaging in. I had already been utilizing the “can help” and “want to help” components of the whole picture, and yet My professional engagements sometimes resulted in scenarios in which unforeseen issues would arise. After hearing of the missing “understand the situation” component, I now understand why that was happening. Though I have not had much in the lines of professional engagement since learning of this, I have already had better experiences taking this additional step into account and I hope that my track record will only continue to improve.
There were also some more subtle concepts that really stood out t...

... middle of paper ...

...ose was the pre-test, which was given very early in the course helped me to learn the rules of the game early so that I could plan ahead. Overall, I feel like this contributed significantly to my performance on the mid-term. I also wanted to emphasize the impact of the relevant news articles that were discussed in class. Though I’m not normally one to care for news, word typically gets to me about most of the big things going on and I am prone to immediately make my own thoughts of the matter. In this class though, the fact that we discussed these present day examples served to really intrigue me in the facts of each of the cases and I was influenced to dive into deeper thought. I feel like these opportunities kept me interested in the subject matter and were enticing opportunities to dive deeper. Needless to say, I was glad that they were incorporated into the class.

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