CS Professional · Arbitration, Mediation and Conciliation · Negotiation Skills and Communication
Before talks with Iyer Constructions, Gupta Steel's team prepares by identifying the best outcome it can obtain if talks fail, such as selling the goods to another buyer at a known price. This alternative is best described as:
The alternative is the BATNA, the Best Alternative To a Negotiated Agreement. It is the best outcome a party can achieve if negotiations fail and it helps decide the minimum acceptable deal. ZOPA is the overlap range, while an anchor is merely an opening figure.
- AZOPA
- BBATNACorrect
- COpening offer
- DAnchor
Explanation
BATNA is the Best Alternative To a Negotiated Agreement, the best course available if talks fail. It sets a party's walk-away threshold. ZOPA is the overlap of acceptable ranges, and an anchor or opening offer is a first proposal.
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