Negotiations

Business Negotiations
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Every business negotiation process has three major phases in which all players have to abide by at all times. The primary motive is to facilitate successful negotiations regardless of the business scenario. The success of every business entity is dependent on the approach used by both parties to agree.
Stages Questions Addressed
Opening Has the offer been accepted?
Why was the offer rejected?
Exchange of Information What information does the other party have?
Is the information verifiable?
Concession Has the counteroffer been accepted?
What are the terms of the agreement?
The opening phase commences with the negotiator making the first offer. It is hardly possible for parties to agree on the first offer especially if both are profit-oriented. On most occasions, the first offer will be rejected (Cellich, 2012). In the quest to come to a bargain, the negotiator requests the other part to point out parts of the proposals that they dislike. This phase addresses the questions of whether the offer has been accepted or why it has been rejected.
The second phase, exchange of information stage, require both parties to exchange information with the sole intention of coming into an agreement. The other party will respond to the negotiator by providing or presenting some information. In return, the negotiator will be tempted to know more on the reasons why the other party rejected the first offer (Cellich…