Negotiations can be called as a way of resolving disputes. It is considered as being synonymous to settlement, agreement, collaboration and bargaining. It takes place almost in all spheres of life - be it is business, personal circumstances (married life, parenting, etc.), legal procedures, government matters, etc.
Negotiation can be defined as a channel of communication intended to reconcile differences between parties and to settle conflict jointly. The parties aim at achieving a win-win position.
Business Negotiations requires a lot of homework, such as asking what is the need of negotiation, who all are involved, what are their view points, what are your aims, what is expected from negotiation, etc.
Negotiation involves minimum of two parties. The aim of negotiation is understood by both parties. The parties are willing to arrive at a mutually agreeable outcome. The outcome is acceptable to both parties.
There are certain dos and donts in case of negotiations:
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