Concession

A Concession is a noun that refers to an agreement or admission that is made in response to demands, often involving a compromise or a yielding of rights or privileges. It can also represent a specific grant or lease of land, resources, or property, particularly by a government or authority, to a private individual or organization for commercial or operational use.

Concession meaning with examples

• In negotiations, the parties often made several concessions to reach a mutual agreement, enabling them to resolve their differences and work collaboratively on the project. The final contract reflected these adjustments, ensuring both sides felt valued and satisfied with the outcome. Such concessions are critical for fostering strong relationships and encouraging ongoing cooperation between stakeholders over time.
• The local government granted the company a Concession to operate a theme park on public land, allowing them to offer recreational opportunities to the community while generating revenue for local services. This arrangement ultimately benefited both parties, as the park attracted tourism and provided jobs, demonstrating how concessions can be advantageous when managed effectively and with consideration of public interests.
• During the debate, one candidate made a significant Concession regarding their proposed tax policy, acknowledging the concerns of their opponents and promising to revise their approach. This move aimed to win over undecided voters and showcase their willingness to listen and adapt. The Concession ultimately played a crucial role in shifting the dynamics of the campaign and drawing more supporters to their platform.
• After hours of discussion, the union and management reached a Concession agreement where workers agreed to a temporary wage freeze in exchange for improved job security and better working conditions. This compromise helped avert a strike, allowing both sides to maintain stability and focus on their mutual goals. It's an example of how concessions can lead to productive partnerships in challenging situations.