Negotiation is the need of the modern time. In every business transaction, negotiation plays a very important role. It is not only limited to professional work, but also occupies an important place in the personal life. Before the transaction of goods and services, there is an agreement among the parties which are processed and then proceeded through the need-based interaction. Rendering something with the expectation of getting something in return is the key concept in almost any kind of negotiation. It may be taken, as an integrative process, which has a start and an end.
Negotiation
is an art of interaction between the people or parties, which attempts to come
up with an outcome of satisfactory exchange. This process is characterized by
involvement as well as participation among the parties. Negotiation involves a
give and take relationship and is therefore a two-way process. Both the parties
have some needs and requirements, which is expressed and delivered through this
process. So, communication plays very important role in negotiation. Moreover,
there is an exchange and interchange of ideas for reaching a goal pertaining to
an issue. In other words, negotiation also involves the process of decision-making
among the negotiators. When the negotiating issues are placed in the face-to-face
interaction, especially in the meetings, it stimulates and provides ample opportunity
for explanation as well as exploration. The medium chosen for conducting the negotiation
is very important as the issues may be placed either through the telephone, written
correspondence, business meetings or through the combination of all. It may be
based on multiple issues or on a single issue. |
