What is Negotiation

Negotiation is a very wide term which is essential everywhere.

• It is not restricted within the boundaries of an organisation but is important and can be seen in our daily life.

• It is a mode by which people resolve their differences.

• It is a method by which adjustment or compromise is reached while avoiding quarrel or conflict.

• Negotiation refers to an activity of discussing and convincing an individual, a party or a group of people to reach a state of mutual acceptance to decide or agree something.

How is Negotiation Fruitful

· Avoids disputes or arguments

· Gives a brief about strengths, weaknesses and mindset of parties involved.

· All the parties agree to compromise

· Mutual acceptance among parties

· Concludes reaching some form of settlement

· Results in best possible deals