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Develop a best alternative to a negotiated agreement (BATNA) from "summary" of Bargaining for Advantage by G. Richard Shell
To be successful in negotiations, you need to have a plan B - a backup plan in case the deal falls through. This is what we call a BATNA - your Best Alternative to a Negotiated Agreement. Your BATNA is your safety net, your lifeline in a negotiation. Without a strong BATNA, you are at the mercy of the other party, vulnerable to their demands and concessions. Developing a BATNA requires careful thought and preparation. You need to consider all possible alternatives to reaching an agreement with the other party. This might involve exploring other potential deals, looking for alternative suppliers or buyers, or even walking away from the negotiation altogether. Your BATNA should be something that you are comfortable with, something that you would be willing to pursue if the negotiation does not work out. It should be realistic and achievable, based on a thorough understanding of your own needs and priorities. Having a strong BATNA gives you leverage in a negotiation. It empowers you to walk away from a deal that is not in your best interest, knowing that you have another option to fall back on. This can give you confidence and strength in the negotiation, allowing you to stand firm on your position and avoid being pressured into making concessions. In summary, developing a strong BATNA is a critical part of effective negotiation strategy. It is your safety net, your backup plan in case things don't go as planned. By carefully considering your alternatives and preparing a solid BATNA, you can approach negotiations with confidence and strength, knowing that you have options and leverage to fall back on.
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