The document discusses the stages of negotiation, including preparation, presentation, bargaining, and
agreement. Preparation involves gathering relevant facts to clarify one's position. Presentation involves
stating one's position and understanding the other side's position. Bargaining is the process of
exchanging offers and counteroffers to find agreement. Agreement occurs when the negotiation
reaches a resolution that is mutually acceptable. Intercultural competency is important for negotiations
involving international business.