GENERAL KNOWLEDGE

Detailed explanation-1: -It is the first stage of any negotiation, though people often don’t give it the time it warrants. They often charge into the Information Exchange Stage, or even directly to Bargaining.

Detailed explanation-2: -Exchanging Information. This is the single most important stage of negotiation.

Detailed explanation-3: -Prepare: Negotiation preparation is easy to ignore, but it’s a vital first stage of the negotiating process. To prepare, research both sides of the discussion, identify any possible trade-offs, determine your most-desired and least-desired possible outcomes.

Detailed explanation-4: -Exchange Information This is the point where both sides are able to lay down what their arguments are that can help them reach their end goals. Communication is key here. Being able to articulate effectively and thoroughly is critical to the negotiation process.

Detailed explanation-5: -In both integrative negotiation and adversarial bargaining, your best source of power is your ability and willingness to walk away and take another deal.