Negotiations

Negotiation: A process by which two parties communicate with each other in order to reach an outcome on which they mutually agree on.

Our second topic for the module was Negotiations, why do people do negotiations? that was the first question our lecture asked from us. To my knowledge people do negotiations to come to a agreement where both parties meet their expectations out of the deal or any transaction.

There are two types of negotiations:

1. Integrative Negotiations
2. Distributive Negotiations.

Integrative Negotiations

Normally integrative negotiations are win-win type negotiations where both parties meet their goals and expectations, more of collaborative approach for accomplishment.

Distributive Negotiations

Distributive negotiations leads to a win-lose type of negotiations where only one part wins at the end of the day. More dominant party in the argument or the negotiation wins.