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A BATNA represents one party's best option if negotiations fail, whereas a reservation value represents the worst deal they are willing to accept. A reservation value should never be less than the BATNA. When purchasing a bike, for example, the BATNA may represent the option of shopping at another dealer.
To determine whether there is a positive bargaining zone each party must understand their bottom line or worst case price. For example, Paul is selling his car and refuses to sell it for less than $5,000 (his worst case price). Sarah is interested and negotiates with Paul.
The best alternative to a negotiated agreement, or BATNA, is the most advantageous alternative course of action a negotiator can take should the current negotiation end without reaching an agreement. The quality of a BATNA has the potential to improve a party's negotiation outcome.
The “bottom line” is an idiom that’s often used as a metaphor to characterize “the essential or salient point.” The term actually comes from accounting. On an income statement, the top ...
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Technically, an Ohio State football season did not again die at the hands of Michigan. But Saturday sure felt like it, as the heavily favored and No. 2-ranked Buckeyes lost 13-10 to the 7-5 ...
If the other side "has a stronger bargaining position", the authors recommend "Develop Your BATNA—Best Alternative To a Negotiated Agreement". [3]: 99–108 The BATNA is "the results you can obtain without negotiating".
Bottom line. Many business owners go with a business term loan or line of credit to access the funding they need. While there are similarities, most businesses use term loans for one-time funding ...