Process Of The Negotiation Process

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The negotiation process theoretically begins with the initial decision to bargain and the structure of the negotiation in terms of their negotiating partner, although some of these decisions may be constrained by its context (Barry & Oliver 1996, p132). In a private real estate transaction, for instance, the potential buyer has the option not to bargain and to take at initial price, or they could place an offer and work towards a price beneficial for both parties. However, in situations where the option to bargain is not limited, the relationship between the parties may be used to explain the negotiator’s initial decision. Empirically, it is found that parties who are close place greater importance in the preservation of the relationship through compromise and even yielding, rather than working in collaboration (Barry & Oliver 1996, p132). These parties may view the risk of damaging the relationship to be of greater loss than the losses incurred in bargaining and will therefore be less inclined to negotiate over other non-confrontational options that are available. It is also true th...

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