Playbook – is a sports term from USA meaning a book containing a sports team’s strategies and plays, especially in American football. A negotiation playbook has the same concept.
Aspiration Point – what you hope to achieve, your goal in negotiation. Most desired outcome.
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
Strategy – is an overarching plan of action designed to achieve your longer term aims
Tactics – are specific actions or methods you undertake to accomplish your strategy. Tactics are usually used to gain short-term advantage.
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
Trial Balloon – you float a trial balloon to test reaction to an idea or proposal.
Fait Accompli – a tactic used to tell the other party that something has been done and cannot be changed.
Nibble – a small value concession that a negotiator asks towards the conclusion of the negotiation.
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