BATNA is an acronym for “Best alternative to a negotiated agreement”.
Think of your BATNA (Best Alternative to Negotiated Agreement) as your plan B. It is the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made.
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Here is a process developed by Harvard Law School to develop the best alternative to a negotiated agreement:
- List all alternatives to the current negotiation – what could you do if negotiations fall through?
- Evaluate the value of each alternative – how much is each alternative worth to me?
- Select the alternative that would provide the highest value to you (this is your best alternative to a negotiated agreement).
- After determining your BATNA, calculate the lowest-valued deal that you’re willing to accept.
Academic Question on BATNA
Q. What is BATNA What things you need to consider to determine your BATNA
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