Question 12
What is meant by “Negotiation”? Name the various steps which can be identified in the
process of negotiation from start to the completion of the process. (November-2008)
Answer
When two or more persons meet together and talk/ discuss on any business or non
business matter, it is known as negotiation. When same persons discuss specific
proposals in order to come to a mutually accepted solutions; whether it is with an
employer, family member or business partner. It can be said that negotiation is a common
way of settling things in business.
Steps in the negotiation process
1. Preparing
2. arguing
3. signaling
4. packaging
5. bargaining
6. closing and arguing
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