NEGOTIATION
Negotiation may be defined as a process of conferring, discussing or bargaining among two or more parties with different needs and wants to reach an agreement in business or diplomacy. It is intended to settle and conclude a deal that enables people to succeed, surmount difficulties and accomplishing objectives.
Negotiations have become an important and integral part of any business/diplomacy. It is the core process for selling any product, service or an idea; it is the heart of clinching orders for purchasing and procurement work and it is resorted to by management team to either jointly solve disputes, disagreements or to bargain new wage and salary structure with the representative union.
Although conducting negotiations among business partners is fairly regular, always remember the famous advice of John F Kennedy, the late President of the USA:
„Do not ever fear to negotiate but never negotiate out of fear‟.
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