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Published by Mahfuza Akter Mili
To Building Long Term Business Relationship
To Building Long Term Business Relationship

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Published by: Mahfuza Akter Mili on Feb 05, 2013
Copyright:Attribution Non-commercial


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ssignment of 
egotiationAssignment No: 07 (Seven)
A Case study on
 Building Long Time Business Relationship
ubmitted To
Mr. S.M. Hasan Iqbal
Course Instructor : Managerial NegotiationDepartment of Business Administration
ubmitted By
Mahfuza Akter [Mili]
( Student of MBA )
You are a new comer to restaurant business. You like to learn ore about the secrets of this kind of business fro some highly experienced person in this trade. Fortunately you got an appointment withMr. Chotku who has been doing restaurant business very successfully for last 15 years. He struggled inhis early stage of business but he recover well as he was very innovative and patient. He is extremelyprofessional and does not talk much and likes thinking people. You come to know that he is from yourown village. On the other hand you are a talkative person. What should be your strategy/actions inbuilding long time business relationship with him from this very meeting?
 stablish a Long Term Business Relationship
To building long time business relationship with Mr. Chotku from this very meeting I shouldplay the following strategy :
 Establish Empathy but don’t get dragged into Sympathy
y goal is to open up honest, clear and comfortable communication, in an atmosphere of mutual respect. This does not mean I have to agree with everything with Mr. Chatku does,wants or claims.
econdly I will have to ask genuine questions and listen with interest to the answers. I haveto keep in mind that my opponent is quite different from me. He is an introvert person whilstI am talkative.
have an advantage as I know the background culture Mr. Chotku grows up in, because he isfrom my own village.
am a new comer to restaurant business and on the other hand Mr. CHOTKU is highlyexperienced in this trade because he has been doing this for the last 15 years, so I should tryto know from him the commercial context in which his restaurant business operates- themarket, the legal and financial systems, and the infrastructure.
should also try to know everything about his company and what exactly lies behind the
CEO’s statement in the last annual report.
r. Chotku is very innovative and patient, extremely professional and does not talk muchand likes only thinking people. I should try to make sure how his this character fits with thework he does; what is his definition of success; does he live and breathe his profession, or is
it ‘ just a job’; is he a steady, analytical type, or does he operate largely or intuition.
ut at the same time, I must be prepared to pay back in kind. If my opponent talks willinglyand openly about his situation, I have to answer his question about me.
est I have to adjust my pacing to suit his local culture. I have to try to match his localbehavior, while remaining true to myself.
should try to give a little extra for the person, mot just for the deal. This does not meanproducing empty cosmetic statements. They just annoy people. Nor does it mean droppingyour price out of pity. You are negotiation as an equal here.

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