Power of negotiation & BATNA

1. By - Nikunj Jain
https://www.linkedin.com/in/nikunjjain262/

2. NEGOTIATION
Process by which compromise or agreement is reached while avoiding argument
and dispute. In any disagreement, individuals understandably aim to achieve the
best possible outcome for their position (or perhaps an organisation they
represent).

3. Impactful Negotiations
• Power of Alternatives
• Power of Intelligence ( Data & Market)
• Power of Lateral Influence (Networks are Important)
• Value Creation before Value Claiming
• Eg. Dad – Daughter – Mother – Grand Father

4. Impactful Negotiations
• Style of Negotiating
• Winning at all cost i.e. “WIN – LOOSE” – short term
• “WIN – WIN” with long term strategy
• Remove Pre-Conceived notions
• Ask the question WHY?

5. Example on Negotiation
Key Learning –
- Package negotiation / multi issue negotiation
- Don’t stick on single issue
- Most controversial issue be taken up at the end
- Understand the magnitude difference in our vs. client’s priorities
• Agree on compatible issues
• Negotiate the entire package

6. BATNA
• This is your alternate plan when the talks start to wobble out of control.
• It can also be your trump card to make the deal happen to your advantage.
• Having your BATNA prepared can also enable you to walk away from the deal altogether.

7. Illustrations of BATNA
It is defined as the most advantageous alternative that a negotiating party can
take if negotiations fail and an agreement cannot be made

8. E.g. of BATNA

9. Impactful Negotiation
• Power of Attractiveness
1. Looks
2. Body Language
3. Dressing
4. Communication competency
5. Market Reputation
6. Knowledge
7. Similarity

10. Impactful Negotiation
• Small World Phenomenon
• Always think long-term, no such thing as a short term transaction
• Don’t burn bridges
• Internal Networking