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Vocabulary

               Here are some Key Terms that we will encounter during a negotiation. Study them and check your
               understanding by completing the given practice.


                                                                  Key Terms on Negotiation



                Opening point (n)                                 Leverage (n)
                : The first figure of one particular variable     : (bargaining power) something that gives
                that one stated in his/her position               one party a greater chance at succeeding
                                                                  over another
                Target point (n)
                : A satisfactory figure for a particular variable   Log-rolling (n)
                                                                  : Trading one favor for another
                Reservation point (n)
                : A limit for a particular variable that one      Sticking point (n)
                can’t go beyond                                   : Something that could cause the negotiation
                                                                  to fail
                BATNA  (n)
                : Best Alternative to a Negotiated                Arbitration (n)
                Agreement; what you will still have if the        : Conflict that is addressed by using a neutral
                negotiation fails                                 third party.

                Deadlock (n)                                      Haggling (v)
                : A situation where there is no solution          : Arguing back and forth (often about prices).
                because neither side can move



               To which situation do these Minutes of Negotiation Meeting excerpts illustrate?

                 Issues & concerns                    Response
                 Buzzer pointed out the imbalance in   Clarenz countered by stating that all
                 proportion between their obligation   points had been initially approved by     Deadlock
                 to the benefits they received.       both parties and that revision would
                                                      void the contract.


                 Issues & concerns                    Response
                 Collins inquired about compensation   Goldberg acknowledged the issue and
                 for the reduced projects assigned to   offered a higher margin of profit for the   1……………………
                 them.                                following season’s project.



               32 | P a g e
               English for Executive Administrative Assistant
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