Negotiation

Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of mutual interest. The agreement can be beneficial for all or some of the parties involved.

The negotiators should establish their own needs and wants while also seeking to understand the wants and needs of others involved to increase their chances of closing deals, avoiding conflicts, forming relationships with other parties, or maximizing mutual gains.
Distributive negotiations, or compromises, are conducted by putting forward a position and making concessions to achieve an agreement.
The degree to which the negotiating parties trust each other to implement the negotiated solution is a major factor in determining the success of a negotiation.

Back to Careers & Compensation →

Source: Wikipedia · Image: Wikimedia Commons · Public domain