Today’s Business English Podcast is the first in a two-part series on the fundamentals of negotiation strategy. Over the coming months we’ll explore the language of negotiating in English in a series of podcasts that look at several typical business negotiations and the language used in each stage of the negotiating process.
We’ll be hearing an interview with experienced management consultant Brian Fields. Brian discusses key concepts and important strategic considerations for negotiating in English.
1) What are the top mistakes people make in a negotiation?
Brian says that a top mistake people make is to overemphasize price. More generally, he says they focus too much on tactical questions without first developing a coherent strategy.
2) What is a BATNA, or “best alternative to a negotiated agreement?”
Your best alternative to a negotiated agreement (BATNA) is what you will do if you donâ€™t reach an agreement during the negotiation. Your BATNA is what is already available, so your bottom line should be better than your BATNA.
3) What does Brian think about the idea of “win-win” negotiations?
Brian says that win-win has become a bit of a clichÃ©. However, the basic meaning of the word is that, under normal circumstances, both parties must benefit in order to come to a deal. In this sense, all successful negotiations are “win-win.”