Negotiating a Transaction

Negotiating a Transaction - NegotiatingaTransaction

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Negotiating a Transaction * Three Key Concepts in Negotiation  1)  BATNA 2) Reservation Price 3) Bargaining Zone * B.A.T.N.A.  (Best Alternative To A Negotiated Agreement) Key Question:  “What are you going to do if you do  not make a deal with this person?” Answer:  Determined by your available alternatives. Key Source of Power:   Ability to walk away. Improve BATNA before you negotiate! Options give you stronger negotiating position. Counterparts’  perceptions  of your BATNA are also very  important. * Reservation Price * Your absolute “ bottom line .” * The point at which you are  indifferent   between achieving a negotiated  agreement or walking away.
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* Any negotiated outcome that is worse  than your reservation price should  not   be  accepted! * BATNA   Reservation Price * Never reveal your reservation price! * Thought for the Day 
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This note was uploaded on 11/23/2011 for the course BUS M 301 taught by Professor Jimbrau during the Summer '11 term at BYU.

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Negotiating a Transaction - NegotiatingaTransaction

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