What is the BATNA or Best Alternative to a Negotiated Agreement

The video tutorial explains the concept of BATNA (Best Alternative to a Negotiated Agreement) in negotiations. BATNA is the best option available if a negotiation fails, serving as a source of power and confidence. It can be used as leverage to influence the other party and is closely related to the reservation point, which is the threshold at which one is willing to walk away from a negotiation. Understanding BATNA is crucial for effective negotiation as it provides alternatives and influences decision-making.

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