OPPORTUNITIES FOR QUASIMOTO ENTERPRISES IN CHINA
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Your abilities in international management have been recognized, and your consulting assistance has been requested. The company Quasimoto Enterprises has been approached by a reputed Chinese firm that wants exclusive production and selling rights for one of its new high-tech products. The company has been looking for a strategic partner for the production of this product to reduce costs. Hence, Quasimoto Enterprises is very interested in exploring the possibility of developing relationships with this Chinese firm. This deal is very critical to growth of Quasimoto in the international market. Both parties are anxious and preparing for their first meeting in a month's time to move this deal forward. This is the first time Quasimoto is doing business with China, and this is also the case with the Chinese firm.
What does Quasimoto Enterprises need to know about Chinese bargaining behaviors to strike the best possible deal with this company? What should the Chinese firm know about American bargaining behaviors to strike the best possible deal with your company?
Develop a strategic plan for the negotiation and conflict resolution for Quasimoto's executive team for its first meeting with the Chinese. Also, develop a negotiation and conflict resolution plan for the Chinese firm for its first meeting with the Americans. Please note that because this is an important business deal for both companies, both of your plans should include the bargaining behaviors of both countries. Are there any similarities between their bargaining behaviors? Can they have a win-win deal?
APA format is mandatory (in text and in the reference section).
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Solution Summary
While China may be a good opportunity for Quasimoto Enterprises, differences in bargaining behaviors of both countries could be detrimental unless both are aware of these differences and are willing to work towards mutually beneficial relationship. The differences and similarities in bargaining behaviors have been outlined and plan for negotiation and conflict resolution has been suggested to reach win-win solution.
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OPPORTUNITIES FOR QUASIMOTO ENTERPRISES IN CHINA
ABSTRACT
China is a fast growing economy with availability of cheap labor in abundance, double digit savings and practically no debt. All these fundamentals are strong in sustaining rapidly increasing consumption, and increasing investment in building China's economy much stronger. However, there is a cost to do business in China. It may be difficult for an American organization to do business in China, mainly due to cultural issues. While China may be a good opportunity for Quasimoto Enterprises, differences in bargaining behaviors of both countries could be detrimental unless both are aware of these differences and are willing to work towards mutually beneficial relationship. The differences and similarities in bargaining behaviors have been outlined and plan for negotiation and conflict resolution has been suggested to reach win-win solution.
BARGAINING BEHAVIORS AND NEGOTIATION TECHNIQUES
China
Chinese philosophies, because of their roots in Confucianism and Taoism value harmony, relationships and politeness. Chinese negotiators have been known to be cooperative and easy to work with when relationships have been established. History also tells us that Chinese are shrewd, but if discussion is open and honest they welcome the opportunity.
Chinese negotiation practice can be structured as three step process.
-In the initial stage of negotiation, Chinese negotiator tries to establish as much control over the process as possible before negotiations continue. Chinese allow other negotiating party to make position about their products or services. At this stage, Chinese would show no interest. The expectation is from foreigners to reveal as much as they can about their expectations, constraints, and so on. Because of cultural orientation, all foreigners are believed to be outsiders who cannot be trusted.
-The second stage determines price and quantity of goods or services(Miles, 2003). In non-Chinese negotiation process, determination of price and quantity is usually the last stage. Chinese delay responses to proposals until last minute and make demands for ...
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