please illustrate an example to explain the steps of give-and -take bargaining. The Art of Give-and-Take Bargaining: Achieving a Successful Outcome

The Art of Give-and-Take Bargaining: Achieving a Successful Outcome

Give-and-take bargaining is an effective negotiation strategy that has been used for centuries to reach an agreement between two or more parties. It is an iterative process of exchanging offers and counter-offers and can be used to reach a mutually beneficial outcome. The goal is to reach an agreement that is satisfactory to all parties and can be used in a variety of settings, such as business, politics, and international relations (Majer et al., 2020). The process of give-and-take bargaining begins with each party presenting their initial offer. This is followed by a period of negotiation, where both sides exchange offers and counter-offers while attempting to reach a compromise. During this process, both sides should take into account the potential interests, objectives, motivations, and constraints of the other party (Rubinstein, 2021). As the parties exchange offers and counter-offers, it is important to remain open to compromise and to adjust their. Cont…