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Business Law and Ethic II 4.1 Vocabulary

AB
AccommodatingA negotiating style involving a person who agrees to a certain course of action that benefits someone else, even though they do not equally benefit from the transaction
AgreementA negotiation outcome
Alternative planningThe process of anticipating others’ possible negotiation strategies and preparing appropriate responses, typically involving role-playing
AvoidantA conscious effort to withdraw or stay away from a situation; a negotiating style that is used when relationships and outcomes are not important or when one party has another plan to meet their needs or wants
BargainingA negotiating technique that involves giving another party something they want and receiving something desired in return; also known as compromise or give-and-take
BATNAThe best alternative to a negotiated agreement; the best a negotiator can do if an agreement with the other party can’t be reached
CollaborativeA negotiating style in which two parties work together to reach a mutually beneficial agreement
Combative:A negotiating style in which one or both parties consider only their interests and fight to achieve a desired outcome at any cost
CompetitiveA negotiating style in which one or both parties view the negotiation as a game-like challenge or a rivalry; one or both parties consider only their interests to achieve a desired outcome
CompromiseEach side making concessions so that an agreement may be reached; also known as bargaining or give-and-take
ConcessionSomething that is given up during a negotiation
Give-and-take:A negotiating technique that involves giving another party something they want and receiving something desired in return; also known as bargaining or compromise
Good cop/Bad copA negotiating strategy involving at least two people on one side of the negotiation; of the two, one is reasonable and agreeable, while the other is unreasonable
InterestsThe things that a person is curious about, concerned for, or involved with; a person’s needs or wants
Leverage:The amount of power one person holds during a negotiation
Limited authorityA negotiating strategy in which one person claims that they do not have the authority to make a decision and must consult another person who is not present during the negotiation process
Lose-LoseA negotiation outcome in which both parties do not receive what they want; often a result when using the avoidance negotiating style
Lose-WinA negotiation outcome in which one party gives up or accommodates the other party with the hope of gaining something in a future negotiation; often a result when using the accommodating negotiating style
Negotiating strategyThe plan or technique a person uses to reach a goal or achieve a desired outcome
Negotiating stylePersonal characteristics that influence the manner in which a person behaves during the negotiation process
NegotiationThe process of one party reaching an agreement with another party to meet specific needs or wants; the process of persuading or influencing someone to take a certain course of action to achieve a desired outcome
PositionWhat someone believes or feels about an idea or issue
PowerThe ability of an individual to influence the actions of other people; the bargaining power that each person brings to a specific negotiating process
SilenceA negotiating strategy that involves listening but not speaking; often used when a situation becomes emotionally heated or when the other party does not like a specific message
TermsSpecific points that reveal each party’s expectations and responsibilities in a negotiation agreement
Win-LoseA negotiation outcome in which one party gets everything they want while the other party does not; often a result when using the combative or competitive negotiating style
Win-WinA negotiation outcome in which both parties benefit; often a result when using the collaborative negotiating style



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