Why Is a Negotiator's BATNA the Most Important Source of Power

question 6

Essay

Why is a negotiator's BATNA the most important source of power in negotiation? Why should a negotiator constantly cultivate and improve his or her BATNA prior to negotiating?

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Definitions:

Foreign Exchange Markets

Global decentralized or over-the-counter markets for trading currencies, determining the foreign exchange rates.

High Rates of Inflation

A situation where the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, is significantly above the normal rate.

Rate of Inflation

The percentage increase in the price level of goods and services in an economy over a period of time, typically calculated annually.

U.S. Exports

Goods and services produced in the United States and sold to other countries, contributing to the country's GDP.