NEGOTIATIONS

Vocabulary Agent Agreement Bargain price Bedrock price Commitment Compromise Condition Contract Counter-offer Counterproductive Deal Discount Estimate Facilities Feasible Figure out Know-how JointVenture Negotiate Point out Proposal Quote Range Rebate Supply Supplier Tender Turnkey Underestimate Work out

Definition Person or company that acts for another and provides a specified service Arrangement between two or more people or companies Reduced price Lowest possible price Engagement or undertaking; to commit oneself Each party gives up certain demands in order to reach an agreement. A stipulation or requirement which must be fulfilled Written agreement between two or more parties Offer made in response to an offer by the other party Having the opposite effect to that intended A business transaction Reduction in price Approximate calculation of the cost Equipment (e.g. parking facilities) Possible, something that can be done Find a solution; estimate the cost Practical knowledge or skill A way of entering a foreign market by joining with a foreign company to manufacture or market a product or service. Discuss a business deal or contract in order to reach an agreement Draw attention to something (e.g. the advantages of your proposal) Course of action, or plan, put forward for consideration; to make a proposal Give an estimated price (a quotation) A selection of products sold by a company Reduction or discount Provide customers with goods or services Person or company that supplies goods or services An offer, in writing, to execute work or supply goods at a fixed price Describes equipment ready for use or operation(e.g. plant or factory) Make too low an estimate of something (cost, danger, difficulty) Calculate (e.g. the price of something); find a solution

Word Part of speech

Meaning

Example Sentence

alternatives noun amplify verb arbitration noun bargain verb collective adj bottom-line noun commitment noun compensate verb comply verb compromise verb concession noun confidentiality noun

other options

We can't offer you the raise you requested, but let's discuss some other alternatives. Could you amplify on your proposal please? We're better to settle this between us, because a formal arbitration will cost both of us money. We bargained on the last issue for over an hour before we agreed to take a break. This is a collective concern, and it isn't fair to discuss it without Marie present. I'll accept a raise of one dollar per hour, but that's my bottom-line. "We've made a commitment on this point. If we don't do it, the agreement will fall apart." If you are willing to work ten extra hours a week we will compensate you by paying you overtime. I'd be willing to comply if you can offer me my own private office. We are willing to compromise on this issue because it means so much to you. I think we can offer all of these concessions, but not all at once. I'm sorry but our confidentiality agreement prevents me from answering your questions in detail. It is impossible to engage in conflict resolution when one of the parties refuses to listen.

expand; give more information conflict that is addressed by using a neutral third party try to change a person's mind by using various tactics

together

the lowest one is willing to go an obligation to do something or deliver something

make up for a loss

agree changing one's mind/terms slightly in order to find a resolution a thing that is granted or accepted - an agreement that prevents either side from talking about the agreement in public

conflict resolution noun

general term for negotiations

confront verb consensus noun cooperation noun counter proposal noun counterattack verb/noun counterpart noun

present an issue to someone directly

I confronted my boss about being undervalued, and we're going to talk about things on Monday. It would be great if we could come to a consensus by 5:00 P.M. I have appreciated your cooperation throughout these negotiations. In their counter proposal they suggested that we keep their company name rather than creating a new one. Before we could start our counterattack they suggested we sign a contract. I tried to close the discussions at noon, but my counterpart would not stop talking. In the past I have had little respect for that client, but today she spoke cordially and listened to my point of view. They had some last minute demands that were entirely unrealistic. When the discussions came to a deadlock we wrote up a letter of intent to continue the negotiations next week. I was hoping to avoid discussing last year's dispute, but Monica is still holding a grudge. Max has such a loud voice; he tends to dominate the conversations. My contract says that I am entitled to full benefits after six months of employment.

agreement by all

the working together

the offer/request which is presented second in response to the first proposal

present other side of an issue

person on the other side of the negotiations

cordially verb/noun

politely

demands adv

needs/expectations that one side believes it deserves

deadlock noun

point where neither party will give in

dispute noun dominate verb entitled adj

argument/conflict have the most control/stronger presence be deserving of

facilitation noun

a process where people, called facilitators, try to make it easier for two people to reach an agreement the results of the negotiation that everyone agrees to put into action

You may not reach a better agreement with facilitation, but you will reach an agreement faster. After six long months, we now have a final agreement. We have always been flexible in terms of your working hours. If we negotiate in good faith, we are sure to reach an agreement eventually. We can't agree to that proposal, but here we would like to suggest an equivalent package for you to consider. We've been haggling over this issue for too long now. I want you to know that we don't have any hostility towards your company despite last year's mix-up.

final agreement noun flexible adj good faith noun

open/willing to change being honest about your intentions

equivalent adj haggling verb hostility noun

a proposed agreement that is different from, but equal in value to, a previous proposal arguing back and forth (often about prices) long-term anger towards another

high-ball verb impasse noun

make a request that is much higher than you expect to receive when two sides hold different positions that they are unwilling to change quick decision without thought or time has difficulty choosing/making a decision a person who communicates between the two sides of a negotiation

I'm planning to high-ball my expectations when I open the discussion. We were close to an agreement but we suddenly hit an impasse over payment terms. I acted on impulse when I signed that six-month contract. They were so indecisive we finally asked them to take a break and come back next week. They've been negotiating through an intermediary after that big argument last week. Money is the biggest issue in this negotiation, but resources and responsibilities are important issues too. We have a little bit of leverage because we are the only stationary company in town. After a bit of log-rolling we came to an agreement that pleased both of us. I was expecting my boss to low-ball in the initial offer, but he proposed a fair salary increase. If we use mediation, it may help to move the negotiations forward.

impulse noun indecisive adj

intermediary noun

issue noun

a topic that needs to be discussed in a negotiation (bargaining power) something that gives one party a greater chance at succeeding over another trading one favour for another offer something much lower than you think the opponent will ask for when a neutral person or group comes in to identify the issues, explore options and clarify goals

leverage noun log-rolling verb low-ball verb

mediation noun

mislead verb mutual adj objective noun offer noun

convince by altering or not telling the whole truth about something agreed by both or all goal for the outcome one or more options that is sent by one negotiator to the other a combination of options that has been offered as a solution

They misled us into thinking that everything could be resolved today. The decision to call off the merger was mutual. My prime objective is to have my family members added to my benefits plan. Let's offer them a one-year service contract and see how they respond. John put this package together last night. Let's look at each option and see if we really want to offer this. From my point of view it makes more sense to wait another six months. He pressured me to accept the terms by using intimidation tactics. While I listened to their proposal I noted each of their objectives. "We'll look at your proposal during the coming week and give you our response the following Monday." His positive body language demonstrated that he was receptive to our suggestions. Mary's resentment stems from our not choosing her to head the project. We didn't expect so much resistance on the final issue. Before you can resolve your differences you'll both need to calm down. There are certain tactics that all skillful negotiators employ. There was a lot of tension in the room when

package noun point of view noun pressure verb proposal noun receptive adj resentment noun resistance noun resolve verb tactics noun tension

person's ideas/ thoughts work hard to convince another of an idea any suggestion or idea given to one party from the other

open to/interested in an idea anger held onto from a previous conflict a display of opposition end conflict, come to an agreement strategies used to get one's goals met feeling of stress/anxiety

noun tentative solution noun

caused by heavy conflict an agreement that depends on some conditions, so that it might not be a final agreement. an exchange process in which one side gives up partly on some issues in order to gain on other issues.

George threatened to quit. At last we've reached a tentative agreement. Perhaps these long negotiations will be over soon. Lower payments over a longer period of time sounded like a fair trade-off until we asked about interest charges. "There are always trade-offs when negotiating. You can't win them all!" His ultimatum was that if I didn't agree to give him the raise he asked for, he'd quit today without two week's notice. It's unrealistic to think that we will have all of our demands met. We considered it a victory because they agreed to four of our five terms. The client will only yield to our conditions, if we agree to work over the holiday weekend.

trade-off noun

ultimatum noun unrealistic adj victory noun yield verb

a final term that has serious consequences if not met. very unlikely to happen. a win. to give in to another's requests