The information presented by both parties is then analyzed through a win-win mechanism and a common point of agreement reached by the parties involved. During the negotiation process, both parties in the process present their case and a tribunal can be formed so as to take note of the information presented. Skilled and experienced negotiators use a variety of tactics that range from negotiation hypnosis to a more straight forward method that represents the demands of the parties involved in a more direct manner.īusiness negotiations may take the form of salary negotiation, mergers and acquisitions, property leasing and in some cases on the way to share the dividends of a given organization. The tactics on the other hand include the actions and the responses during the negotiating process. The process and the tools are typically the steps that are supposed to be followed and the roles which are taken when preparing for the negotiating process and the roles taken during the negotiating process. The strategies in a negotiating process comprise the top level goals which include the relationship between the involved parties and the expected outcome of the negotiating process. A negotiation is also related to an arbitration which involves legal proceedings and a compromise is struck between the two parties.Ī negotiation comprises of four elements called: strategy, process, tools and tactics. The mediator will listen to both parties and then in the process try to strike a compromise between the two parties. Negotiation is similar to a mediation which involves a third party who has to be neutral during the negotiating process. Negotiations are normally manifested with a trained negotiator who acts on behalf of a specific organization or position. They include the union negotiators, peace negotiators and the leverage buyout negotiators.
There are professional negotiators who carry out specialized services for different organizations and government agencies. Negotiations occur in businesses, legal proceedings, government branches, organizations and in everyday life. The parties involved in the negotiating process attempts to reach a compromise during the negotiating process so that they are both satisfied with the agreement reached even though it cannot meet all their needs but a majority of their needs are met for the good of both parties. Both parties involved in a negotiation try to gain advantage for themselves by the end of the negotiating process. During a negotiation, bargains are carried out and an agreement is reached which satisfies the interests of the involved parties. Negotiation is actually a dialogue that occurs between two or more parties with an aim of reaching some form of understanding and hence helps resolve a point of difference. Negotiations involve a mutual agreement between parties with an aim of improving the currently prevailing situations.