B1. Explain the concept of negotiation and analyze at least four key differences between bargaining and negotiation to your friends who love to price bargain while shopping ts Marks]
Expert Answer
Negotiation is a process by which the two parties that perceive incompatibilities between them reach to a mutually agreeable solution. It is a process by which people settle the differences between them. Here, the negotiating parties aim to compromise to a solution so that their interest is being maximized i.e. each wants that the best possible outcome should be achieved. It basically comprises of five steps.
a)Planning and preparing
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