Beginning approach advice
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A company wants to buy $30 million in materials and services from suppliers in China, Japan, and South Korea. It was recommended that the company use an approach to business negotiations that provides a win-win for both parties. Management was also told they needed to know the background of the Asian negotiator and that they should use a middleman to help them.
The middleman stressed the importance of etiquette and social customs in addition to the win-win model.
What else should the U.S. company find out about each culture before it starts negotiating? What are the differences?
How do these countries view contracts?
How should the U.S. company begin the negotiations?
What are the steps as they apply to these 3 countries?
Discuss how the company would negotiate using the win-win model. What sort of strategies would it use?
What trade agreements apply, and how do they affect the negotiations? How do i begin my approach?
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Solution Summary
What issues appear most important to approach when dealing with an international business transaction?
Solution Preview
Begin your approach with the advice given by the middleman hired to help the management in charge of this project. He advises stressing the importance of etiquette and social customs. Research the business etiquette and social customs of each of the three companies and follow procedures that assure no breaches of etiquette.
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