BU288 Lecture Notes - Lecture 4: Stra, Best Alternative To A Negotiated Agreement, Negotiation
Document Summary
Negotiation: a de(cid:272)isio(cid:374) (cid:373)aki(cid:374)g pro(cid:272)ess a(cid:373)o(cid:374)g i(cid:374)terdepe(cid:374)de(cid:374)t parties (cid:449)ho do(cid:374)"t share ide(cid:374)ti(cid:272)al preferences attempt to either prevent or resolve existing conflict; implicit or explicitly. Categories: distributive or integrative both types of negotiation can happen at the same time. ***batna: best alternative to a negotiated agreement. determine your batna! Gives you power strengthen batna whenever possible (bad batna = desperate for any deal) Batna lets you know whether or not you should accept an offer (reservation price = bottom line) Tr(cid:455) to fi(cid:374)d the other part(cid:455)"s batna! Parties engage in communication to divide/exchange resources. Parties make offers & counteroffers compromises are possible. Parties are interdependent; outcomes are determined jointly. Parties ha(cid:448)e i(cid:374)(cid:272)o(cid:373)plete k(cid:374)o(cid:449)ledge a(cid:271)out ea(cid:272)h other"s i(cid:374)terests. ***how to negotiate: assess personal goals: identify your target (ideal) & resistance points (lowest outcome acceptable, try to gauge other"s goals, develop strategy. Must walk into the negotiation prepared sometimes, best deal is no deal at all.
