A state of art review: negotiation management from the corporate perspective. Negotiation models

An understanding of negotiation strategies, usage of negotiation instruments, a person`s individual traits in terms of trust development, socializing, risk aversion and many more factors, have been analyzed in research papers to provide a valid answer for the question – what drives negotiation outcomes? The aim of this paper is to analyze negotiation management from the corporate perspective and meet 3 objectives: classification of negotiation models; identification of main tendencies in the development of negotiation models, and the identification of an agenda for future research. The analysis includes peer-reviewed articles and research studies for period from 1965–2020. Databases: Science Direct, Scopus, Proquest. Sources in the field of negotiation and management science make the primary object of this paper. Sources addressing negotiation as mediation, conflict resolution analysis, from the perspective of psychology, are excluded. An interest in negotiation models mainly derives from the perspective of negotiation analysis and involves the application of game theory. These negotiation models are further used either to develop “negotiation games” to meet learning goals or applied to develop automated negotiation solutions. Descriptive negotiation models, on the other hand, might be applied as the guidelines to identify constitutive elements of a negotiation case and serve for developing relevant negotiation strategy. These models vary based on negotiation type, number of parties, negotiation objective, etc. hen negotiation models within a particular company (individualized negotiation models), an industry, a business model and business goals play a role. As a negotiation model provides an answer to the question “How does a negotiator meet negotiation goals?”, descriptive negotiation models should be addressed in an institutional process of negotiation management. Individualized negotiation models provide a direct linkage to reaching business goals. Methodology of developing individualized negotiation models is a subject for future research.