BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Negotiation is a method by which people settle differences. It is a process by which compromise or agreement is reached while avoiding argument and dispute. In any disagreement, individuals understandably aim to achieve the best possible outcome for their position (or perhaps an organization they represent).

Detailed explanation-2: -Negotiation has been defined as any form of direct or indirect communication whereby parties who have opposing interests discuss the form of any joint action which they might take to manage and ultimately resolve the dispute between them 1.

Detailed explanation-3: -Compromise is a basic negotiation process in which both parties give up something that they want in order to get something else they want more. Compromises usually occur in win-lose situations–when there is a fixed pie to be divided up, and whatever one side gets, the other side loses.

Detailed explanation-4: -Definition of ground rules. Clarification and justification. Bargaining and problem-solving. Closure and implementation.

Detailed explanation-5: -Bargaining is a simple form of the distributive negotiation process that is both competitive and positional. Meaning bargaining doesn’t seek to create value but instead focuses on negotiators claiming value. Bargaining very often revolves around a single issue-usually price.