What is Negotiation?
Negotiation refers to a strategic discussion between two or more parties intended to solve the problem so that all parties agree on the solution. Negotiation can take place between buyers and sellers, employers and prospective employees, two or more governments, and other parties. Negotiation is a process in which two or more people engage in discussion or negotiation to reach an agreement or a solution of mutual interest. It involves the exchange of ideas, information, and advice to find common ground and reach a compromise that satisfies all parties involved. Two business partners, Alex and Tyler, are discussing the terms of a new partnership. Alex thinks a 60-40 profit split is fair in the company deal, while Taylor thinks it should be a 50-50 split. During the meeting, they discuss, present the arguments, and reach an agreement for both parties.
Table of Content
- How to Negotiate in a Better Way?
- Stages of Negotiation Process
- Tips for Successful Negotiating
- Negotiation Skills Required
- What Makes a Good Negotiator?
- Best Negotiation Books
- Frequently Asked Questions (FAQs)