Your BATNA, or the ability to identify a negotiator’s best alternative to a negotiated agreement, is among one of the many pieces of information negotiators seek when formulating dealmaking and negotiation strategies. If your current negotiation reaches an impasse, what’s your best outside option?
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The following question was posed to Program on Negotiation faculty member and associate professor of business administration at Harvard Business School in the Negotiations, Organizations & Markets Unit, Francesca Gino and involves a negotiation example from real life from the world of business negotiations.
… Read The Hidden Hazards of BATNA Development
What is BATNA? Negotiations in which each counterpart has a best alternative to a negotiated agreement are scenarios in which the incentive to work together must exceed the value of alternatives away from the negotiation table.
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