Negotiation, Mediation, and Arbitration

Susan E. Brodt

The term negotiation conjures up a variety of images in people's minds, most notably deal making and dispute resolution. Indeed, individuals negotiate job assignments, supplier contracts, joint ventures, and the resolution of conflict in the workplace. Whether applied to crafting deals or resolving disputes, negotiation refers to a joint decision-making process in which two or more parties, whose interests conflict, attempt to reach an agreement. When negotiations become difficult or impossible, and when the costs of disagreement are high, others often intervene. These third parties typically act as mediators or arbitrators as they assist negotiators in reaching agreement. Negotiation, mediation, and arbitration are therefore distinct but related processes. An important difference among them, however, is in the degree of control individuals have over the process (i.e., how they come to agreement) and over the outcome (i.e., what agreement they reach). In negotiation, parties generally have a high degree of When ...

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