Negotiation Process Definition
In order to come to an agreement, both parties involved in a negotiation must first understand the negotiation process definition. The negotiation process is the act of coming to an agreement after discussion and debate. It is a way for two or more people to reach a compromise on a certain issue.
The negotiation process can be divided into four basic steps:
1) Preparation and Planning: This is the stage where both parties involved in the negotiation gather information and prepare their arguments.
2) Opening Offer and Counteroffers: In this stage, each party presents their initial offer and then responds to the other party’s offer with a counteroffer.
3) Bargaining and Concessions: This is the stage where both parties bargain back-and-forth in order to reach an agreement. Each party may make concessions in order to come to an agreement.
4) Agreement and Implementation: This is the final stage of the negotiation process where both parties agree on the terms of the deal and put it into action.
