- BATNA: Best Alternative To a Negotiated Agreement is the best course of action a party can take if negotiations fail to reach an agreement. It helps improve negotiations by ensuring each party has a viable alternative if an agreement cannot be reached.
- WATNA: Worst Alternative To a Negotiated Agreement represents one of several alternative options if a resolution cannot be reached. Understanding the WATNA helps assess the feasibility of a deal, even if the outcome is negative.
- ZOPA: Zone of Possible Agreement is the area where two negotiating parties can find common ground. Exploring the ZOPA is essential to achieve mutually beneficial outcomes and avoid win-lose or lose-win scenarios, aiming for a win-win negotiation.
- Win-Win Negotiation: A negotiation outcome that results in a mutually acceptable and beneficial deal for all parties involved. It gained prominence in the 1980s as an alternative to the win-lose approach, emphasizing cooperation and mutual gains.
- RADPAC Model: A negotiation framework used in business to reach a favorable outcome for two or more parties. Being prepared with the RADPAC model helps prevent unfocused and adversarial confrontations during negotiations.
What are the 3 negotiation strategies?
Main Free Guides:
- Business Models
- Business Strategy
- Business Development
- Digital Business Models
- Distribution Channels
- Marketing Strategy
- Platform Business Models
- Tech Business Model
- What Is Entrepreneurship