3Basic Tools

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Learning Objectives

By the end of this chapter, you should be able to:

• Explain the importance of having alternatives as you enter a negotiation.

• Describe how alternatives can be strengthened.

• Define the term reserve point and indicate its purpose during a negotiation.

• Explain what is meant by the area of agreement in a negotiation.

This chapter introduces three important concepts every negotiator should understand:

1. Alternatives—the options available if you cannot negotiate an acceptable deal

2. Reserve point—the point at which a deal fails to meet your requirements and you should walk away

3. Area of potential agreement—an ...

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