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Abstract

An interchange amid two or more folks or revelries envisioned to grasp a valuable conclusion over one or more problems defines negotiation. This paper is about "An insight into the dynamics that influence a successful negotiation". In today’s world, negotiation is widely practiced everywhere. Right from joining hands with domestic customers to signing up business deals with external organization or countries, most instances come across negotiation. The growing prices, the difference in the standard of living between entities, the difference in one’s thoughts etc. may be few reasons for it. This study gives a broad understanding about negotiation. In the beginning, we discuss the concept of bargaining and negotiation. In this part, we will be highlighting the main difference between these two terms with an example. Following this, the skills and the possible outcome of negotiation are being described, where the significance of the skills are explained for a successful negotiation. Additionally, we learn about BATNA and ZOPA, which are again important assets.