Question

BATNA Stands for:

• A. Bilateral agreement to negotiation and arbitration
• B. Best alternative to a negotiated agreement
• C. Bilateral Trade negotiated agreement
• D. None of the above

Hint:

Think of BATNA as your "Plan B." If the negotiation fails, what is the best outcome you can achieve on your own? The stronger your BATNA, the more power you have in the negotiation.

Answer 1

The Correct Option is B

BATNA is an acronym that stands for "Best Alternative To a Negotiated Agreement." It is a key concept in negotiation theory, first introduced by Roger Fisher and William Ury in their book "Getting to Yes." It represents the most advantageous course of action a party can take if negotiations fail and an agreement cannot be reached. Understanding one's BATNA is crucial for a negotiator because it provides a benchmark against which any proposed agreement can be measured. It helps a party decide whether to accept a deal or walk away.