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Essay / Research Paper Abstract
This essay defines the role of trust when it comes to negotiation, and discusses how trust can be built between two parties. The paper contends that trust is an important factor in the negotiation process. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTnegoti.rtf
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Unformatted sample text from the term paper:
something through negotiation. What the gurus fail to mention sometimes, however, is the importance of building trust in the negotiating process. Very simply, when it comes to negotiating, both parties
need to have trust in one another to come to an amicable conclusion. The first thing that might help in this endeavor
is actually defining the concept of trust, which is an intangible feeling (Kramer, 1999). Trust, overall, is primarily a psychological state, involving the "undertaking of a risky course of action
on the confident expectation that all persons involved . . . will act competently and dutifully" (Kramer, 1999, p. 569). Trust can also be defined as expectations that people have
of one another (Kramer, 1999). Another definition of trust is confidence that another partys or persons goodwill (Zaheer, McEvily and Perrone, 1998).
So what, exactly, does trust have to do with the art of negotiation, which primarily involves two parties working toward a solution that makes the most sense? Very simply, trust,
with its expectation and confidence, helps minimize hostility and builds confidence that the outcome of a negotiation will be beneficial to all parties. In addition, trust in a negotiation process
helps ensure that agreements are reached more quickly and easily, as both parties are more able and willing to compromise and agree, as trust and goodwill has already been building
into the process (Zaheer, McEvily and Perrone, 1998). Trust that exists in negotiations also means that both parties are willing to share more information - as well as their feelings
- about what is being negotiated (Zaheer, McEvily and Perrone, 1998). In addition, when unforeseen challenges arrive during the negotiating process, a high level of trust in the process means
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