Aspiration Point – what you hope to achieve, your goal in negotiation

Reservation Point – what is the worst case scenario for you and the minimum that you would accept

Bargaining Chip – something of value that you trade with the other party

Concession – the act of giving a bargaining chip away

BATNA – a term coined by professors at Harvard University. It means Best Alternative to a Negotiated Agreement. Your BATNA is your fall back if you cannot reach an agreement with this party

Integrative Negotiation – both parties collaborate to create ” win-win” value for all

Distributive Negotiation –  both parties compete to win the most value

Framing – is how you create a favorable frame of reference with persuasive messaging to influence the other party

Anchoring – is  how you emphasize strong facts favorable to you at critical points during the negotiation process

Position – what the other party says they want, a demand

Interest – what the other party really needs. You have to uncover it with skillful observation and questioning


To learn more about negotiation concepts, sign up for our negotiation training course in Singapore by clicking to this link: