what are the basic principles of making concession?(8 scores),please illustrate an example to explain on of the above principles.(8 scores) The Basic Principles of Making Concessions

The Basic Principles of Making Concessions

In recent years, making concessions has become an increasingly important part of negotiations between two parties. Concessions are typically defined as “an agreement or a giving up of something in return for something else” (Truitt, 2016). While the concept of making concessions has been around for centuries, the principles behind it remain the same. In this paper, we will discuss the basic principles of making concessions. The first principle of making concessions is to create an atmosphere of trust and respect. Both parties should be aware that they are entering into a negotiation, and should always approach it with a sense of respect and trust. This will help to build a foundation of mutual understanding and will make the process of making concessions much smoother (Reimann, 2017). The second principle is to frame the negotiation in terms of trade-offs. Both parties should be willing to give up something in order to receive something else. This could be an exchange of goods, services, or information. By framing the negotiation in terms of trade-offs, each party will be able to get what they need without feeling as if they have been taken advantage of. Cont…