Zone of Possible Agreement - Business concept of the day
Entrepreneurship
328 week ago — 1 min read
Definition: The Zone of Possible Agreement (ZOPA), or bargaining range, describes the intellectual zone in sales and negotiations between two parties where an agreement can be met which both parties can agree to.
Example: Experts estimated, when talks began about an imminent takeover of the regional company by the national player, that the zone of possible agreement for a price for the sale would be between USD 18-20 Million USD.
Business Insight: When entering a tricky negotiation, doing some research and attempting to identify a zone of possible agreement can go a long way in accelerating the process and creating a positive outcome for all parties.
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