• Negotiation consists of five phases that include investigation, determining your BATNA, presentation,
bargaining, and closure.
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• Different negotiation strategies include the distributive approach (fixed-pie approach) and the integrative
approach (expanding-the-pie approach).
• Research shows that some common mistakes made during negotiations include accepting the first offer
made, letting egos get in the way, having unrealistic expectations, getting overly emotional, and letting
past negative outcomes affect the present ones.
• Third-party negotiators are sometimes needed when two sides cannot agree.
1. What are the negotiation phases and what goes on during each of them?
2. When negotiating, is establishing a BATNA important? Why or why not?
3. What are the third-party conflict resolution options available?