Best Alternative to a Negotiated Agreement. The true measure by which you should judge any proposed agreement. It is the only standard which can protect you both from accepting terms that are too unfavorable and from rejecting terms it would be in your interest to accept. (Roger Fisher and William Ury, Getting to Yes [Penguin Books, 1991], 100-01)
The following items are tagged BATNA.
Do you ever feel ambushed by strong emotions?
To guard against acting irrationally or in ways that can harm you, authors of Beyond Reason: Using Emotions As You Negotiate Roger Fisher and Daniel Shapiro advise you to take your emotional temperature during a negotiation. Specifically, try to gauge whether your emotions are manageable, starting to heat up, or threatening to boil over.
A recent article in Tufts Magazine by Program on Negotiation faculty member Jeswald Salacuse discusses an oft neglected aspect of negotiation: putting into action what negotiators agree to at the bargaining table.
Normally negotiators focus on the deal-at-hand as well as those present at the negotiation, neglecting other aspects of the negotiated agreement that would not only impact others outside of the room but also require their cooperation for its success.
Professor Salacuse calls this process of putting a negotiated agreement into action “the toughest challenge” in negotiation.
To Capture the Force, Be Patient: The Disney-Lucas Arts Deal
In Negotiation, Put Your Best Foot Forward
Will a Team Approach Work? Consider the Culture
Car salespeople truly understand how to use modest concessions to extract much larger ones.
First, they spend a long time legitimating the sticker price and suggesting that it’s not only fair, but nonnegotiable.
At last, the deal is done. After 18 months of negotiation, eight trips across the country, and countless meetings, you’ve finally signed a contract creating a joint venture with a Silicon Valley firm to manufacture imaging devices using your technology and their engineering.
The contract is clear and precise. It covers all the contingencies and has strong enforcement mechanisms. You’ve given your company a solid foundation for a profitable new business. As you file the contract, a question dawns on you: Now what?
When you’re getting ready to meet with more than one party, the usual steps of two-party negotiation apply.
With thorough preparation, the help of a trained mediator, and useful reports from subgroups, participants in a multiparty negotiation should be able to find their way to the trading zone. Once they’ve arrived, the next step is to work together to ensure that everyone’s interests are met.
When preparing to negotiate, always take time to consider these important questions:
What’s my BATNA – my walkaway option if the deal fails?
What are my most important interests, in ranked order?
What is the other side’s BATNA, and what are his interests?
Lessons from the New Wave of High-Stakes Deals
Satisfied Employees, Satisfied Customers
When Setting Goals, Beware Backlash
Here are some concrete guidelines for fostering a strong relationship between negotiating partners drawn from The Global Negotiator: Making, Managing, and Mending Deals Around the World in the 21st Century.