Negotiation refers to a type of bargaining between two or more parties with the aim of overstepping differences and reaching an understanding, often called compromise, to everyone's satisfaction. In companies negotiation is carried out in situations like wages negotiation at the time of recruitment, negotiations with unions regarding their requests, resolving employee conflicts, making downsizing decisions, etc.
Negotiation is a process of communication between two or more parties with the goal of reaching a mutually beneficial agreement or resolving a dispute. Negotiation can occur in a variety of settings, including business, politics, law, and personal relationships.
The negotiation process typically involves the following steps: