The Best Alternative to a Negotiated Agreement (BATNA) is a theory of negotiation that refers to a course of action that one intends to take in the event of a breakdown in a negotiation process or a solution to a negotiation process if not reached. The concept first coined by Ury and Roger is perceived as the key to successful negotiators (Fisher, 1991). The importance of BATNA is based on facilitating options for a negotiation. They are therefore considered the advantage that is obtained by significantly decreasing the risk of accepting unfavorable clauses in an agreement. It also creates a platform to influence the abandonment of favorable conditions that would otherwise have been sacrificed due to underlying factors. In practice, a better offer than BANTA leads to an agreement, while if it is less promising you have the possibility of resuming negotiations or withdrawing from them. Related to BATNA is WATNA, the Worst Alternative to a Negotiated Agreement, a concept aimed at reducing the risk of being too realistic during a negotiation process. It is intended to help develop the worst case scenario in a negotiation (Notini, 2005). So the two concepts work hand in hand. In a negotiation process, among other principles, it is necessary to take into account the best and worst outcomes of the process if one has the intention of reaching the best agreement. This is because both will help him know when to settle or not. The parties to this agreement are different, however. It has the two main negotiators, Walter and Wanda. Divergent interests come into play in the scenario between Walter and Wanda. For Walter he aims to purchase the car best suited to his needs, for Wanda his staid...... means of paper...... that the parties understand that the arbitration was binding and would be decided in a degree of fairness. Works Cited Fisher, R., Ury, W., & Patton, B. (1991). Getting to Yes: Negotiating a deal without giving up. (B. Patton, ed.) Business (Vol. 11, pp. 1-90).Penguin Books. Retrieved from http://www.ncbi.nlm.nih.gov/pubmed/21322851Kleine, M., &Risse, T. (2010).Deliberation in negotiations.Journal of European PublicPolicy, 17(5), 708-726. Routledge. Retrieved from http://www.tandf.co.uk/journals/routledge/13501763.htmlNotini, J. (2005). Analysis of effective alternatives in mediation: The BANTA/WATNA analysis demystified. Retrieved from http://www.mediate.com/articles/notini1.cfmSimkin, W. E. (1971). Mediation and dynamics of collective bargaining. Silvan, A., &Sheffrin, S. M. (2003). Economics: Principles in Action (p.474). Pearson Prentice Hall.