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Best approach to bargaining

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What is the best approach to bargaining and why?

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The best approach to bargaining is discussed in a structured manner in this response. The related reference is also provided.

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The best approach to bargaining is integrative bargaining. In this form of bargaining, mutually beneficial agreements based on the interests of the two bargaining parties are arrived at. The interests can include desires, concerns, needs, and fears required by each party. These interests represent the causes of conflict. This form of bargaining means that the party's interests can be combined in ways that create joint value. Where there are multiple issues involved there can be integration. Usually, the bargaining parties get stuck on a specific point from which neither can go ahead without compromising the other. Integrative bargaining ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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