Negotiation for International Business

A. Negotiation Strategies
1. Plan the negotiation
2. Adopt a win-win approach
3. Maintain high aspirations
4. Use language that is simple and accessible
5. Ask lots of questions, then listen with your eyes and ears
B. Prepare & Plan for negotiation
First, the negotiators need to:
- Decide what it is they want to achieve, Why the other party should negotiate with
them, Why they should negotiate with the other party
C. Clear Objectives for Their Company
- The type of business or supply that they want, The type of product or service they
want, and The levels where the company want to buy and sell
D. Factors to Consider in the Analysis of the Issues
- Economic impact on the parties, supply and demand and past precedent and
standard practices
E. Maintain High Aspirations
- The level of expectation has a direct relationship to what a person achieve in a
negotiation and ask for more and you will get more
F. Ask lots of questions, then listen with your eyes and ears
- He should be confident and realize that the other party would not offer anything
unless it is asked
G. Build solid relationships, maintain personal integrity and converse concessions
- Parties develop respect and trust for members of the other team
- A negotiator has to do what he promised he will do and maintain the professional
appearance.
H. Be culturally literate and adapt to the negotiating strategies of the host country
environment
- It is important to determine what types of expertise are needed to support their
side in the negotiation.
- The team should consist of people who are good and confident communicators
and who work well as a team.