Definitions Flashcards
To bargain
Explanation: To discuss the conditions of an agreement, to negotiate. You can also use this as a noun (something can be a bargain) to refer to products being sold for a really good price.
Examples:
“You can’t bargain with him, he’s very inflexible.”
“This laptop was such a bargain! I paid half as much as you paid for yours and mine is much faster.”
Bottom line
Explanation: The most important factor.
Example:
“The bottom line is that we cannot raise both salaries and bonuses.”
Alternative
Explanation: A choice that could be better than the present situation.
Example:
“Let’s consider the alternatives before deciding on the best candidate for this position.”
To reach a consensus
Explanation: To agree on a matter that initially (at first) you disagreed upon.
Example:
“After a really long debate, they managed to reach a consensus on the issue of sick leave.”
Counter proposal
Explanation: An alternative solution you offer when you disagree with the one already presented.
Example:
“We came with a counter proposal, but they weren’t open to negotiation.”
Deadlock
Explanation: A point in a discussion which takes you nowhere because people cannot reach agreement.
Example:
“We reached deadlock quite early in the discussion, because they weren’t willing to listen to our arguments and they didn’t make any counter proposals.”
Highball / Lowball
Explanation: To highball means to ask for a lot more than you think your partner will agree to offer you. On the contrary, when you lowball, you offer much less than you think is acceptable.
Examples:
“They started the negotiation by highballing their expectations, but we saw right through it.”
“I thought my boss was going to lowball by giving me a really small raise, but he was reasonable.”
Leverage
Explanation: Something that gives you power in a negotiation.
Example:
“The supermarket chain really wanted that land, but the owner didn’t give in easily. He had a lot of leverage because the position was ideal.”
