Negotiation

terms
key business English negotiation
terms
Business negotiations
Anchoring - using a reference point to influence the outcome of a negotiation

("He used an anchor of a high price to start the negotiation, but eventually we agreed on a lower price.")

Best alternative to a negotiated agreement (BATNA) - the most favorable alternative course of action
if the negotiation fails

("I have a better option than this negotiation, so I will not accept less than what I want.")

Counteroffer - a new offer made in response to an initial one

("We offered to sell the company for $50 million, but they made a counteroffer of $55 million.")

Deadline - a specific date or time by which an agreement or offer must be accepted

("We have a deadline of next Friday to finalize the contract.")

Leverage - the power or ability to influence a situation or outcome

("We have leverage in this negotiation because we have several other interested buyers.")

Non-negotiable - not open to discussion or change

("The employee's salary is non-negotiable it has already been set and approved by the board.")

Proposal - a plan or suggestion for a course of action

("I have a proposal for a new marketing strategy that I think will increase sales.")

Win-win - a situation in which both parties benefit

("We want to find a solution that is a win-win for both of our companies.")

Walk away point - the point at which a negotiator is willing to end the negotiation ("I have a walk away
point of $10,000, if they don't agree to that, I will end the negotiation".)



Negotiating techniques
Bargaining - the process of negotiating the terms of an agreement

("The union and the company are currently in bargaining over a new contract.")

Concession - an act of giving up something to reach an agreement

("We made a concession on the price, but we insisted on keeping the original delivery schedule.")

Mediation - the process of resolving a dispute with the help of a neutral third party

("The dispute between the two parties was resolved through mediation.")

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Ultimatum - a final demand or statement of terms, the rejection of which will result in a breakdown
of negotiations

( "The manager gave the employees an ultimatum to increase productivity or face disciplinary
action.")

ZOPA (Zone of Possible Agreement) - the range of possible agreements that can be reached in a
negotiation

("We have a wide range of possible agreements in this negotiation, so we can reach a deal that fits
both of us.")

Good faith negotiation - the process of negotiating in an open, honest, and sincere manner

("We are in good faith negotiation. Both parties are being honest and sincere.")

Bogey - a hypothetical or expected outcome used as a benchmark in a negotiation

("He used a bogey of $100,000 as his benchmark, but we convinced him to lower the price.")

Negotiating styles
Accommodating - a style characterized by a willingness to prioritize and put the needs of others
before one's own

(His accommodating negotiating style helped to find a solution that pleased all parties involved.")

Assertive - a style characterized by a confident and direct approach

("His assertive style made it easy for him to defend his position and get what he wanted.")

Avoiding - a style characterized by a desire to avoid conflict or confrontation

("The employee's conflict management style is avoiding, preferring to stay away from disputes.")

Collaborative - a style characterized by a willingness to work together to achieve a common goal and
find a mutually beneficial solution

("Their cooperative approach helped them reach an agreement that satisfied both parties.")

Competing - a style characterized by a strong desire to win and a focus on one's interests

("The CEO's leadership style is competing, always striving to be the best in the industry.")

Compromising - a style characterized by a willingness to make concessions to reach an agreement

("To reach an agreement, both parties had to compromise on specific terms.")

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Business English vocabulary:

fill-in-the-blank activity

Questions

Fill in the blank with the appropriate business English negotiation vocabulary word from the list above

The company made a ________ of $60 million, but we were only willing to pay $45 million

We have a ________ of next Tuesday to present the project

We have ________ in this negotiation because we have several other interested buyers

The vendor's salary is ________. It has already been discussed with the leadership team

I have a ________ for a new social campaign that will generate qualified leads

We want to find a solution that is a ________ for both parties

I have a ________ point of $20,000. Let's see if they agree to that

I have a better alternative than this negotiation, so I will only accept what I want. (_________

Laura used an ________ of a high price to start the negotiation, but her team agreed on a lower price

The provider and the company are currently in ________ over a new contract

We made a ________ on the price, but we insisted on keeping the original delivery schedule

Our team resolved the dispute between the two parties through ________

The manager gave the employees an ________ to arrive on time

We have a wide range of possible agreements in this negotiation, so we can reach a deal that fits

both of us. (_________

I think we are in ________ negotiation- both parties are being honest and sincere

He used a ________ of $30,000 as his benchmark, but we convinced his team to lower the price

The salesperson's negotiating style was ________, always willing to prioritize the customer's needs

The CEO's leadership style is ________. She is always striving to be the best in the industry

Our marketing team's approach to problem-solving is ________. We work together to find the best

solution

The employee's conflict management style is ________. He prefers to stay away from conflicts.

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Answer

counteroffer
deadline
Leverage
non-negotiable
proposal
win-win
walk away point
best alternative to a negotiated agreement (BATNA)
anchoring
bargaining
concession
mediation
ultimatum
ZOPA
good faith
bogey
accommodating
competing
collaborating
avoiding

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