BU288 Lecture Notes - Lecture 13: Negotiation, Best Alternative To A Negotiated Agreement
Document Summary
A decision-making process interdependent parties who do not share identical preferences. Parties often have incomplete knowledge about each other"s interests. We negotiate all the time: pricing a new product, dealing with job recruiters, mergers and acquisitions, buying a house, going to a movie. Assess personal goals, consider other"s goals, develop strategy. Target: what one would like to achieve. Identify batna: best alternative to a negotiated agreement. Aspiration range: what you hope to achieve in the negotiation. Settlement range: area in between the 2 parties" resistance points. Only if there"s an overlap will an outcome happen. Distribute: your gain is my loss and vice versa fixed amount of resources. Integrative: importance of same issue is different for each party. Issues can be combined to create mutually beneficial outcomes (expanding the pie) Perfectly compatible: both parties want the same thing. Tactics that help you claim value for yourself.
