In the process of bargaining, you may find yourself in a situation where you and the other party have different priorities. If both sides can work together cooperatively, they may be able to reach an agreement that meets both goals. This process is called productive bargaining.
The key element is that each side tries to understand the other side’s interests and needs, and then works together to develop creative solutions that will meet the needs of both sides.
Both parties should be prepared for the process. If possible, both sides should have someone present who has experience in negotiating. This person can take notes and keep track of what has been said during the meeting.
A productive bargaining process requires good communication skills on both sides. It also requires an openness to creative solutions, which may require sacrifices from both sides in order to reach an agreement that is better than what either could get without cooperation.
Both sides should agree on an agenda before the meeting begins, so that everyone knows what topics will be covered during negotiations. You’ll also want to discuss any possible distractions that might occur during your negotiations (such as phone calls or other interruptions).
Bargaining is a give-and-take process; both sides need to understand this concept before they begin negotiations. If one side refuses to offer any concessions, then productive bargaining may not be possible at all!
