Negotiation

Definition

Negotiation is the act of discussing and bargaining with others in order to reach an agreement or settlement that satisfies the interests of all involved parties. It involves compromise, strategic thinking, and effective communication skills.

Related terms

Compromise: Finding a middle ground where both parties make concessions in order to reach an agreement that partially satisfies their respective goals.

Conflict resolution: The process of resolving disputes or disagreements through peaceful means rather than resorting to violence or aggression.

Collective bargaining: Negotiations conducted between employers or management representatives and employees' unions aimed at reaching agreements regarding working conditions, wages, benefits, etc.