Please study the 20 vocabulary terms below. Then press the Mark Complete button to continue.
- bargaining
- a repeated back and forth to negotiate an agreement, trying to get the other party to agree to one's terms
- BATNA (Best Alternative To a Negotiated Agreement)
- one's backup plan should no consensus be reached in contractual dialogues
- BPA (Best Possible Agreement)
- the outcome at the end of the negotiation that best satisfies all parties' interests
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When mastering the art of negotiating you will learn that there are different bargaining strategies, so pay attention to which strategy is being used on you.
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Having a solid BATNA is crucial because it will allow you to make a rational decision on whether to accept a negotiated settlement.
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This is one of our long-term clients, so we are in good spirits to achieve the BPA in tomorrow's negotiations.
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