negotiation

Vocabulary Word

Definition

Negotiation is a method where people having differences sit together to reach a mutually beneficial agreement. It's usually give and take, like trading a baseball card for another you need.

Examples in Different Contexts

In corporate deals, 'negotiation' is vital. A business executive might say, 'Effective negotiation strategies are crucial for closing deals, maximizing value, and establishing mutually beneficial partnerships and agreements.'

Practice Scenarios

Public-Policy

Scenario:

There are differing opinions on this policy change. We must find a resolution that serves the public interest.

Response:

We need to have a round of negotiation with all concerned parties to arrive at an agreeable solution.

Creative

Scenario:

The client loves the concept, but there's a disagreement on the color scheme. We need to find a visually pleasing balance.

Response:

Let's have a negotiation session with the client to understand their color preferences and meet midway.