Bargaining Power in the System of Negotiations Strategy : Essence, Conception, Elements

Abstract

In order to manage effectively the process of formulation negotiationstrategy and its implementation it is necessary to know,understand and reveal the powers of negotiating parties. Scientific82analysis of literature sources enabled to present the concept ofbargaining power, to describe the basic elements and principlesof bargaining power. The analysis demonstrated that scientificliterature contains a number of researches devoted for investigationsof power in negotiations, internal relations of organisations,human social relations. This article presents the definition ofnegotiation power, analyses the nature of negotiation power, itsresources, elements and their relationships. Negotiating poweris essential in shaping the negotiating strategy. Analysis ofbargaining power definitions in the scientific literature suggeststhat the content of powers definition varies in dependance onits application context. In order to reach better cognition of thebargaining power, a comprehensive overview of the researchesof the bargaining powers in recent decades is necessary. Thearticle also provides recommendations for further research.

Keywords

• power, concept of power, the nature of power, bargaining power, elements of bargaining power.