Best Alternative To A Negotiated Agreement - BATNA
 |
Definition of 'Best Alternative To A Negotiated Agreement - BATNA'The course of action that will be taken by a party engaged in negotiations if the talks fail and no agreement can be reached. The term BATNA was coined by negotiation researchers Roger Fisher and William Ury in their 1981 bestseller "Getting to Yes: Negotiating Agreement Without Giving In." A party's BATNA refers to what they can fall back on if a negotiation proves unsuccessful. |
 |
Investopedia explains 'Best Alternative To A Negotiated Agreement - BATNA'BATNAs may be developed for any situation that calls for negotiations, from negotiating a pay hike to resolving complex conflicts. While a BATNA may not always be easily identifiable, Fisher and Ury have outlined a simple three-step process for determining it: Develop a list of actions to take if no agreement is reached; convert the more promising ideas into practical options; and tentatively select the option that seems best. |
Related Definitions
Articles Of Interest
-
7 Tips For The Do-It-Yourself Debt Manager
Hired gun not in your budget? Learn to be your own credit counselor. -
Why is Game Theory useful in business?
Game theory was once hailed as a revolutionary interdisciplinary phenomenon bringing together psychology, mathematics, philosophy and an extensive mix of other academic areas. Eight Noble Prizes ... -
Game Theory: Beyond The Basics
Take your game theory knowledge to the next level by learning about simultaneous games and the Nash Equilibrium. -
The Basics Of Game Theory
Break down and examine the potential consequences of economic/financial scenarios. -
A Peek Into Shareholder Meetings
Shareholder meetings can be glamorous, exciting or controversial, but not particularly revelational. Here's a quick look at what to expect. -
Weighted Average Cost Of Capital (WACC)
Weighted average cost of capital may be hard to calculate, but it's a solid way to measure investment quality -
Earnings Guidance: Can It Accurately Predict The Future?
Explore the controversies surrounding companies commenting on their forward-looking expectations. -
Mergers And Acquisitions: Understanding Takeovers
In the dramatic world of M&As, battleground terms meld with bizarre metaphors to form the language of the game. -
Everything Investors Need To Know About Earnings
We go over the concepts behind the excitement over the most important figure in the stock market. -
Is a dividend reduction a signal to sell?
Although a dividend reduction is generally viewed as a signal to sell, the decision is not as clear-cut as if the dividend were to be eliminated altogether, which would be an unequivocal sell ...
Free Annual Reports