Critically study of Negotiation Skills 03071 Essay

Critically study of Negotiation Skills 03071 - Essay Example The study is going to provide critical evaluation of the negotiation process. Different theories of negotiation stated to cite that negotiation process is adopted among the almost each and every individual. Further, this study outlines the process of negotiation among the individuals, local authority, SME and society. Negotiation is mainly a collateral process of getting the concern of two or more parties. In general term, negotiation is the process of collective bargaining that promotes a process of transaction of anything between two or more parties. This process is promoting aim of welfare of both the parties, along with the requirements and expectation of parties associated with the negotiation process. On the other hand, it utilises common ground that empowers stake of both the parties. Moreover, it promotes the harmony among the parties regarding any settlement. In addition, negotiation is also made on the basis of the mutual concern that makes the resolution of any sort of conflict. Negotiation processes are proved to be one of the most important processes in the daily life of people and operations of any business (Barkemeyer and Figge, 2011). On the contrary, negotiation term is used in banking and financial sectors also. Negotiation in this type of industry refers to the acceptance of any sort of transaction or future buy and sells financial instruments. In addition, it is observed that financial instruments are mainly facing negotiation process in the trading terms. However, contracting segments are looking for making proper compensation of the client and involved parties. Contracts are adopting negotiation actions in terms of making proper bidding of transactions. However, negotiation will be increasing outcomes of contract policies. Negotiation is involved in the trading processes also. Mainly in the globalised era, organisations are making proper negotiation in terms of trading the different instruments and commodities