Deal Negotiation Definition
A deal negotiation is the process of coming to an agreement between two parties on the terms of a contract or transaction. This can be done through direct negotiations between the parties, or with the help of a third party mediator. The goal of a deal negotiation is to reach an agreement that is fair and beneficial for both sides involved.
The process of deal negotiation can be complex, and often requires expert knowledge and skills in order to reach a successful outcome. There are many different factors that need to be taken into consideration during a negotiation, such as:
-The interests of both parties involved
-The power balance between the parties
-The objectives of each party
-The acceptable outcomes for each party
-The amount of time and resources available
It is important to remember that both parties involved in a negotiation have different objectives, and that these objectives may conflict with each other. It is the job of the negotiator to find common ground between the two parties, and to create an agreement that satisfies both sides.
