#PMI-PBA Article 14: Negotiation Strategy - BATNA:-

BATNA is an acronym that stands for Best Alternative To a Negotiated Agreement. It is defined as the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made.

A party’s BATNA is what a party’s alternative is if negotiations are unsuccessful.

BATNA is often used in negotiation tactics and should always be considered before a negotiation takes place. It is never wise to enter into a serious negotiation without knowing your BATNA. The value of knowing your best alternative to a negotiated agreement is that:

1. It provides an alternative if negotiations fall through.

2. It provides negotiating power.

3. It determines your reservation point (the worst price you are willing to accept).

When bargaining, take time out for an explicit translation process to ensure that you aren’t giving up a good deal in hand for a BATNA in the bush.

Rather than assuming that the deal on the table matches your BATNA point by point, translate your BATNA to fully understand what it means for the current negotiation.?