Prepared by shine star
In my opinion first of all the both parties go for Negotiation because the Company ABC wants to save its money and time and the company also donít want to lost that ideal location for their production plant. And the intentions of the seller are not good that is why it is important to convince him at the better solution for this problem by healthy negotiation. Any mistake of company ABC can aggravate this problem and the recovery of the money will be difficult or impossible. Negotiation is a discussion among the two or more people with the goal of reaching an agreement. Broadly speaking negotiation is an interaction of influences. Such interactions, for example include the process of resolving dispute, agreeing upon course of action, bargaining for individual or collective advantage.

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Other Means of Resolving Conflict:

If the ABC Company uses the other means to resolve this problem, then they are time taken, money consuming and also possible that the result is not according to the wish of the both buyer parties. Mediation, conciliation, arbitration also have long processes and there is also possibility of creating misperception if the mediator or conciliator is not trained. In these processes the company also has to pay the fee of the agents. Adjudication is expensive and time consuming.
Most of the time the result, in adjudication is least acceptable or in favor of the both parties. In this way they can not talk face to face. By these means, ABC company may lose the place that he donít want lose because it is the best location for its production plant. And if the seller party donít want to sell that place to the company and also donít want to pay back the money then it will try to pull the process.

Negotiation:

If company ABC is going for negotiation with the both parties, the seller and the other buyer of that land, there are many chances that the Company ABC would be reach at the best solution of this problem that will in favor of Company ABC and also acceptable for the both of other parties without wasting its resources. It is relatively less expensive and has no longer process. In this way the two buyer parties can negotiate at this problem and try to find the better solution of this problem , after that both the parties should go for negotiation to the third seller party. And they can put pressure on the seller party to agree at the better solution of this problem through the healthy negotiation.
So Negotiation is the suitable solving the dispute outside the court. By using this form of resolving the dispute all the parties can save their money and protect themselves from the lengthy procedure as well as they get the desirable result. It means there can create win-win situation by using this technique.