The answer to Ethical issues

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// Negotiation is the important business activity which is done in order to satisfy the mutual needs of both involving parties. Like other business activities negotiation also needs some ethical concern. In this section the importance of the ethics in the successful negotiations is described.//

The negotiation is the process by which the involved parties or group resolves matters of dispute by holding discussions and coming to an agreement which can be mutually agreed by them. It also refers to closing a business deal or bargaining on some product. Negotiation is the principal way that people redefine an old relationship that is not working to their satisfaction or establish a new relationship where none existed before (Negotiation, 2007). Thus, it can be said that the negotiation is the act for securing mutual benefits of the involved parties. Negotiation is one of the most common approaches used to make decisions and manage disputes. The ethics in negotiation means a system of moral principles or values, and the rules or standards governing the conduct of the members involved in the negotiation. These are the accepted principles of right or wrong in the negotiation. For a successful and satisfactory negotiation, it is important that the negotiation satisfies both parties and award them equal benefits. The ethics plays a vital role here. Every negotiation runs on the trust in the relationship among the parties. The negotiating parties will not accept each other's promises unless they trust each other. For sustaining a long run in relationship, it is important that each negotiating party acts fairly, honestly and ethically (Elahee).

The ethical behavior and conducts are the crucial part of the identity of the parties involving in the negotiation. The ethical behavior builds a reputation of the party. It's much easier to achieve win-win outcomes when the party has a reputation for being fair, honest and willing to do the right things. On the other hand, if the party finds the other one to be dishonest, unfair and willing to do wrong thing, it would not give consent to any concession or even to begin new negotiation with the default party (Flaherty & Stark, 2003).

The role of the ethics in the negotiation is the interest of the involving parties. If the ethical standards of the counter party are ...