This essay discusses exactly what happened during the negotiation process of Coast News, necessary recommendations, and a summative conclusion will be taken into consideration in the discussion of the paper…
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The paper throws light on negotiation as a method of performing group decisions among the parties who are engaged possessing different choices or likings. Basically, negotiation is a procedure of getting the things done from others that are expected from them particularly in the method of executing various vital decisions. Moreover, negotiation is regarded as a deal in which the engaged parties possess a direct influence upon the final outcome of the negotiation. It requires voluntary approval on behalf of the parties those who are involved in a particular negotiation. It is also considered as a give and take process in which the actual and definite conditions of a transaction are equally agreed. It is the act or technique of bargaining in order to accomplish a commonly satisfactory agreement or objective. The other significant conception of negotiation lies in the peaceful method in which the involved parties find ultimate solutions by themselves and ultimately gain maximum control of their desired result. The negotiation process is also considered as the legal and orderly management procedure by which the governments conduct their relations with other establishments and discuss, adjust as well as manage their disagreements or any differences. In this global financial market, the most significant and crucial matter lies in policymaking. It has been identified that the policy formations are related to various deeds among the parties regarding diverse issues towards communal interests and other related factors along with avoiding increase regarding the internal conflicts among the parties. In this connection, it can be observed that negotiation is a central component of policy-making procedures which determine the different issues that are addressed by the policy makers, finds solutions and required support from the involved parties to confirm that the planned policy-making decisions are sustainable. The conception of negotiation mainly takes place for various reasons. The reasons include such as the initiative taken by the involved parties in order to generate any new aspect and to resolve a problem or a dispute between the involved parties among others. A wide range of perspectives can be used in order to understand different aspects of negotiation such as economic theories and practices, psychology, political science, communication, labor relations and law among others. The same negotiation outcome can also be understood from several different perspectives because the people or the engaged parties in the procedure of negotiation can negotiate many different aspects along with considering the necessity of the fundamental process of negotiation for them who work with other people. However, the several characteristics that are common to all negotiable situations include the presence of the involved parties which may be individuals, groups or organizations among others and conflict of interest between them that is based on the dissimilarities regarding their different views, opinions and ideas among others along with the methods in order to manage the conflict. Moreover, the characteristics of negotiable situations also include acting as a voluntary process.
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