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Preferred term

negotiation  

Definition

  • Negotiation is the process whereby two or more parties attempt to settle what each shall give and take, or perform and receive, in a transaction between them. Negotiation situations are characterized by five key components: the process takes place between two or more parties (individuals, groups, or organizations); there is an unresolved conflict of needs and desires between the parties; the parties negotiate by choice, expecting that they can improve upon what the other might simply offer them; the parties expect a giveand-take process; and the parties prefer to negotiate rather than to fight openly, have one side capitulate to the other, or resolve the dispute in some other manner. [Source: International Encyclopedia of Organization Studies; Negotiation]

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https://concepts.sagepub.com/social-science/concept/negotiation

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