Negotiation

Negotiation is the communication between people to reach agreement or compromise. During negotiations, parties attempt to keep or gain personal advantages by the end of the process. Business negotiations can take place in a variety of settings, including personnel discussions (like hiring and firing), corporate buyouts, and contract disputes. Good negotiation skills are essential for managers who engage in any kind of business transaction, and can be improved by the development of “soft skills,” like empathy and flexibility.