Outline for negotiation

“Why Do We Respond to a Concession with Another Concession? Reciprocity and Compromise”

    This article examines the impact of reciprocity in concession making during negotiation practice. The authors state that it is essential to analyze the underlying motives in concession making, where the negotiator should always look at the consequences of his actions. Otherwise, it would be costly to fail to return a concession. The other party in the negotiation is aware of his or her interests, and her involvement in this act of social obligations makes her depend on reciprocity and trust instead of defection and opportunism. Moreover, reciprocity ensures that negotiations are regulated and are made more fluid. It is important for both parties to know the need for a concession in return and a compromise needs renouncing some aspect of one's claims to satisfy each other's interests better, and hence the negotiation will be more effective. Also, it is crucial for the two parties to accept and concede concession in a manner that acknowledges the level of sacrifice being made (Thuderoz, 2017).

       This article explores how negotiations between buyers and sellers have a huge impact on the profitability of a company. In establishing your maximum supportable position, which is your opening offer, should be an optimistic estimate of what is possible and should be at or beyond our estimate of your other party’s least acceptable result. This increases bargaining power due to pursuing a well-defined aspiration. This article details the implications of such aspirations in the three stages of negotiation: preparing, bargaining, and making a deal. It looks at the factors determining aspirations, unwanted consequences like unethical behavior during bargaining, and the results of overly ambitious aspirations. This article basically demonstrates how to go about negotiations to get the best results (Pratsch, 2016).

References

Pratsch, S. (2016). The Role of Aspirations in Negotiation. Visit link:https://publishup.uni-potsdam.de/frontdoor/index/index/docId/8993, https://www.verlagdrkovac.de/978-3-8300-9006-9.htm, 

Thuderoz, C. (2017). Why do we respond to a concession with another concession? Reciprocity and compromise. Negotiation Journal, 33(1), 71-83. Visit link:https://onlinelibrary.wiley.com/doi/abs/10.1111/nejo.12174