In any disagreement, individuals understandably aim to achieve the best possible outcome for their position, or perhaps an organisation they represent. In business, negotiation skills are important in both informal day-to-day interactions and formal transactions such as negotiating conditions of sale, lease, service delivery, and other legal contracts. Negotiation is a process where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution. The three phases of a negotiation are exchanging Information, bargaining, closing. In order to achieve a desirable outcome, it may be useful to follow a structured approach for negotiation. The presentation gives better understanding on the topic.

Ridhi Kumari

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