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What is a BATNA?

What is a BATNA? Here are some definitions.

Noun
  1. Initialism of Best alternative to a negotiated agreement.
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Examples
What strategy works best when you are negotiating with someone who has a stronger BATNA that yours?
We had a long drive from Batna, twelve hours, but through an attractive and varied country.
Attempting to estimate the BATNA of the other party will also be worthwhile when planning one's negotiation strategy.
We telegraphed from Batna to ascertain whether or not we could all get rooms.
Batna possesses a remarkably well-kept commercial hotel, the Htel des trangers et Continentals.
Assessing one's BATNA is indispensable and should be done carefully and well in advance of any bargaining session so as to avoid unpleasant surprises from the opposing party during the negotiations.

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