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  • Three Indispensable Concepts: Alternatives

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    This chapter introduces three key concepts for successful negotiating: alternatives, reserve price, and area of potential agreement. Alternatives refer to other practical options available if the current negotiation fails. The reserve price is the maximum a party is willing to offer or minimum they will accept. The area of potential agreement is where deals are possible if parties make concessions within their reserve prices.

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    This chapter introduces three key concepts for successful negotiating: alternatives, reserve price, and area of potential agreement. Alternatives refer to other practical options available if the current negotiation fails. The reserve price is the maximum a party is willing to offer or minimum they will accept. The area of potential agreement is where deals are possible if parties make concessions within their reserve prices.

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    5 views1 page

    Three Indispensable Concepts: Alternatives

    Uploaded by

    Tim
    This chapter introduces three key concepts for successful negotiating: alternatives, reserve price, and area of potential agreement. Alternatives refer to other practical options available if the current negotiation fails. The reserve price is the maximum a party is willing to offer or minimum they will accept. The area of potential agreement is where deals are possible if parties make concessions within their reserve prices.

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    © All Rights Reserved
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    of 1

    CHAPTER 2

    THREE INDISPENSABLE CONCEPTS

    S
    uccessful negotiating is based on a sound conceptual founda-
    tion. This chapter introduces three indispensable negotiating
    concepts and explains how you can use them to good effect.
    Those concepts are:

    1. Alternatives
    2. Reserve price
    3. Area of potential agreement

    ALTERNATIVES
    The first important concept at the negotiator’s disposal is one or
    more practical alternatives to the deal currently on the table. Alter-
    natives make it possible for a negotiator to say, ‘‘If this negotiation
    fails to produce what I need, I can always do .’’ Consider
    this simple example:

    ................. 16656$ $CH2 11-30-07 14:51:22 PS PAGE 8

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