Best alternative to a negotiated agreement (BATNA),
Definition of Best alternative to a negotiated agreement (BATNA):
The best alternative to a negotiated agreement (BATNA) is the course of action that a party engaged in negotiations will take if talks fail, and no agreement can be reached. Negotiation researchers Roger Fisher and William Ury coined the term BATNA in their 1981 bestseller "Getting to Yes: Negotiating Agreement Without Giving In." A party's BATNA refers to what a party can fall back on if a negotiation proves unsuccessful.
A term used by negotiators to describe the best option available to their side if negotiations fail. The term BATNA was coined by Roger Fisher and William Ury in their book Getting to Yes: Negotiating Without Giving In. Negotiators who have a strong, well-defined BATNA have an advantage because they have a clear benchmark to which they can compare any negotiated settlement.
Parties may tailor BATNAs to any situation that calls for negotiations, ranging from discussions of a pay hike to resolving more complex situations like mergers.BATNAs are vital to negotiation because a party cannot make an informed decision about whether to accept an agreement unless they understand their alternatives. While a BATNA may not always be easy to identify, Harvard researchers have outlined several steps to help clarify the process:.
How to use Best alternative to a negotiated agreement (BATNA) in a sentence?
- If possible, general negotiations are often a better and quicker strategy.
- Always keep in mind the lowest value of the deal you are willing to accept as a BATNA participant.
- BATNAs exist when negotiations are not agreeable to the parties involved.
Meaning of Best alternative to a negotiated agreement (BATNA) & Best alternative to a negotiated agreement (BATNA) Definition