BATNA is an acronym popular with Roger Fisher and William Ury, which means “Best Alternative to a Negotiated Deal”. BATNA answers the question: “What would you do if you were not able to reach an agreement with your party to the negotiations?” Your BATNA is the alternative action you will take if the agreement you propose does not materialize. Most business people simply use the phrase”: “Best Alternative”. This is usually a mutually agreed neutral third party who chairs a complex meeting of two or more parties involved in a negotiation. Often used in “multi-party” negotiations. Its purpose is to organize, support and help the parties to the negotiations to find their own solutions to the issues discussed. Acronym that means a negotiating area of a possible agreement. This is the area or area where an agreement is satisfactory for both parties involved in the negotiation process. Often referred to as the “contracting area”. ZOPA Negotiation or Contracting Area is the area between the individual Walk Away or Real Base or Bottom Lines parties and is the overlap area that each party is willing to pay for or find acceptable in a negotiation. The price of the reservation is the inconvenient moment when you accept a negotiated agreement. For a seller, for example, this means the lowest (minimum) amount or the end result that they would be willing to accept.
For a buyer, this would mean the most (maximum) or end result they would be willing to pay. It is also sometimes called a “starting” point. A high level or approach to the level of risk that a negotiator is willing to accept in a negotiation. A technique that is sometimes used to balance the possibility of anchoring in an integrative negotiation. Multiple bids are two or more bids or proposals of relatively equal value, submitted simultaneously to invite further discussion of the topics under negotiation. A contractual agreement between two or more business partners to adopt a common business strategy for a project. In principle, all shareholders undertake to share profits and losses through their ordinary shares. A low level or approach to the level of risk that a negotiator is willing to accept in a negotiation. .