Individual Project 5 Research Paper Example | Topics and Well Written Essays - 1250 words

Individual Project 5 - Research Paper Example The strategies for high-performance contracts include separating people from the problem, emphasizing on shared interests, as well as providing more options. Negotiation is a process via which two persons or institutions attempt to attain an agreement with respect to issues that are associated with different objectives, interest and values (Lock, 2013). The attainment of a common ground is associated with the same beliefs, objectives and values. The shared common goal normally persuades the two individuals or groups to attain the shared goals. The ability of the parties to a negotiation to make a decision normally differentiates a negotiation process from arbitration which demands an arbitrator. In most circumstances, businesses attempt to experience a win-win situation with a contractor while negotiating on various contracts; this ensures a long term relationship between the parties to a given contract. Mutual trust between the contracting the parties is normally associated with the past relationship with respect to business aspects or in the negotiation process. In the event that a mutual trust does exist between the contracting parties, Zou (2011) provides that there is a need to build the trust. Trust normally exists in the event that the other party is likely to offer the promises that are pledged; additionally, the negotiator should be viewed as individual who is not likely to lead to surprises. Surprises that are likely to occur may include certain demands that were not mentioned in the original agreement; they also include threats or change of a party position as far as the original position is concerned. The establishment of a mutual trust is likely to see both parties reach an agreement that is associated with a win-win situation among the parties given that one party is careful not to hurt the other party. The parties can create a positive relationship by paying attention to common goals and values;