The act of making a similar or like exchange of something in return for something given by one party to another party. In a negotiation, this could entail an exchange of information and/or an exchange of concessions between the negotiating parties.
Negotiation skills are required to secure better agreements in our personal and business lives.
A predetermined approach or prepared plan of action to achieve a goal or objective to make an agreement or contract.
The desired negotiation outcome or goal decided at the start of the negotiation. This is best set across each and every aspect of a negotiation (e.g. price, term, volume etc). Some organisations set an ambitious negotiation aspiration or opening offer, and a less ambitious negotiation target, while for others these are one in the same. [...]
Also sometimes referred to as a "Concession" where one or more parties to a negotiation engage in conceding, yielding, or compromising on issues under negotiation and do so either willingly or unwillingly.
Bringing new information, new benchmarks, or new specifications into the negotiation—can sometimes help bring the parties closer together and can create better outcomes.
The introduction of a new issue that has not been discussed. Sometimes used to throw the other side off balance.
New people are introduced into the negotiation that then change the rules or modify what has already been agreed to. Can also be used to help break a Deadlock or Impasse.
A small concession, maybe 1 or 2% of the total solution, which you get from the other side in return for concluding the negotiations with an agreement. Nibbles come at the very end of negotiations. If you get Nibbled, be sure to Nibble back.
Refusing to make a decision or come to an agreement because you are not allowed to. When you limit your own authority you gain flexibility in the negotiating process.