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Competing vs. Collaborating vs. Compromising in Negotiations

Compare and contrast the three strategies (compromising, competing, and collaborating) for negotiation. Which is the preferred strategy, and why?

What tactics should be used to reach a satisfactory conclusion in negotiations?

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By definition:

Compromising - a technique that would resolve to close a deal more quickly by negotiating terms that are often more fair, agreeable and equal for both parties. Often referred to as "meeting halfway", it tends to speed up negotiations, but may concede a favorable position quickly.

Competing - a technique that asserts one's favored positions and instead of focusing on finding an equitable solution, tries to convince the other party that the favored ...

Solution Summary

The differences between competing, collaborating and compromising negotiation techniques, why they may be preferred and some shortfalls of each in 300 words.