What is meant by “Negotiation”?

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