Integrative Bargaining Process Essay
The process of bargaining is an important one. This is because it can make or spoil a business deal. As there are different types of negotiating strategies, one must know the difference in order to know when to use which. So in this sample essay, we will be discussing a specific type of negotiating strategy known as the integrative bargaining process.
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In order, to understand this concept well, we will be looking at the different aspects. Therefore, we will be discussing the following things: first of all, we shall be discussing the definition of Integrative bargaining. After which we will be looking at the importance of Integrative bargaining. Further on we will be going through the characteristics of Integrative bargaining. Finally, we will be closing the discussion with steps of the Integrative bargaining process.
What is integrative bargaining?
Integrative bargaining or also known as interest-based bargaining is a strategy for negotiating. In this strategy parties at both sides of the table cooperate to come to an agreement which is a “win-win” situation for both. Moreover, this style of negotiations concerns with interests of both parties includes needs, desires, concerns, fears, and so on.
Adding to that, this negotiating only comes into play when there are several problems arising in bargaining. For to make negotiations equally satisfying for both parties, some compromises have to be made at both sides.
Importance of integrative bargaining
The integrative bargaining strategy is important because this style of negotiation is in the interest of both parties. Moreover, as compared to another style of bargaining where one party is a loss in one way or the other, Interest-based marketing is likable by both sides.
Even though both parties have to make some compromises, none of them is at a disadvantage. Instead, we can say that both of the parties divide the advantage into equal shares. As a result, there is no loss of interest from any side of the negotiating table. Using this style of bargaining gives one a better chance of reaching a mutual agreement.
Characteristics of integrative bargaining
In this section of the sample essay, we shall discuss the characteristic of integrative bargaining or interest-based bargaining. As we know characteristics are features that help us two distinguish between two similar things. Moreover, as there are different styles of negotiation or bargaining, we shall learn what characteristics, as to not confuse between two, are.
Moving on, the characteristics of integrative bargaining are as mentioned below:
- Common and shared goals
- Confident problem-solving ability
- Open to alternatives
- Willingness to work together
- Building trust in each other
- Clear and thorough communication
- Fulfilling each other’s needs and interests
So these are some of the several characteristics of an integrative bargaining process. Regardless, we shall further discuss the steps of the bargaining process, in the next section of the sample essay.
Steps of the bargaining process
Till now we have discussed the definition of integrative marketing, its importance, and the characteristics. Now we shall look at the steps involved in the integrative bargaining process itself.
Without further adieu, the steps of the integrative bargaining process are as follow:
- Determining and defining the problem
- Understanding the problem
- Considering mutual interest
- Exploring alternative solutions for the problem
- Agreeing upon the solution which serves the interests of both sides.
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