Business

Define BATNA, SMART, Tangible, Arbitrator, Team, Minutes of Meeting, Agenda, Encoder and Non-Verbal Communication.

BATNA

It stands for best alternative to negotiated agreement. In negotiation theory, the best alternative to negotiated is the most advantageous alternative course of action a party can take if negotiations fail and an agreement cannot be reached. It is the key focus and driving force behind a successful negotiator.

SMART

SMART goal setting principle stands for specific, measurable, attainable, realistic and timely (timebound).

Tangible

Capable of being touched. Real or actual rather than imaginary or visionary. Not vague, capable of being perceived by sense of touch. Having actual physical existence as real estate or chattels, and therefore capable of being assigned a value in monetary terms. T.V are those values which can be seen, touched and felt, in other words, they are physical values. Examples of T.V include; cars, dresses, food, etc.

An Arbitrator

A person or one of two or more persons, chosen by parties who have a controversy, to determine their differences. An independent person or body officially appointed to settle a dispute (adjudicator, arbiter, lines man, referee, line, judge, etc).

Team

A team is a group of people/ individuals working together to achieve their goal or a number of persons associated together in work or activity. A group of people who work together at a particular job- a sales team, cricket team, a group of people with a full set of complementary skills required to complete a task, job, or project.

Minutes of the Meeting

Minutes of the meeting can be defined as written or recorded documentation that is used to inform people of what happened during the meeting and define the next step planned. Brief record of proceedings of a meeting rough draft.

Encoder

An encoder is a person who sends a message to another person. (sender of the message)

Non Verbal Communication

Communication without words is called non-verbal communication. It consists of:

  1. Kinesics (Study of the body’s physical movement.). The way, the body communicates through words.
  2. Proxemics ( Study of how humans communicate in different spaces.). The study of space which is kept between a sender and a receiver.
  3. Paralanguage (A nonverbal communication e.g, your tone, pitch or manner of speaking, etc.). It is, how a person says something the volume and person’s voice reveals a lot about.

A Meeting Agenda

A meeting agenda is a list of items that participants hope to accomplish at a meeting or a list of meeting activities in the order in which they are to be taken up, beginning with the call to order and ending with adjournment. It usually includes one or more specific items of business to be acted upon.

Professor Muhammad Shafiq Malik

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