What is Negotiation?
Negotiation is a dialogue between two or more parties with the purpose of achieving a satisfactory arrangement, known as a compromise, deal, agreement... that is beneficial to both parties.
What is the purpose of negotiation?
Usually, the purpose of negotiating is to come to an agreement that will derive reciprocal benefits. Each party tries to come to an arrangement that will meet its own interests, and this is why negotiation takes place.
Why is negotiation important?
Negotiation is key to thriving in the workplace, solving conflicts, and generating value in contracts. Without the action of negotiating, everything would stay the same, or one of the parties would benefit while the other abided by the outcome of a change that only the other party would profit off.