Beginning Approach Advice: Negotiating with Foreign Suppliers
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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 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?
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Solution Summary
The negotiating with foreign suppliers are determined. How different countries culturally view other contracts is determined.
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Understanding Culture before Negotiation
China:
Before starting negotiation, the US Company should find out the living standard of Chinese people. It is identified that two third of the Chinese people still live in rural areas and laboring primarily in rice or wheat cultivation. In order to create effective negotiation with the Chinese businesses, US Company should develop the understanding about the culture and their negotiation style. Most of the Chinese businessman negotiates in their local language that can create the problem for the US Company. For this, US Company should develop the understanding about local language (Kwintessential, 2012).
Japan:
Japan also has a very rich culture that impact on the negotiation process of a US company. In order to create effective negotiation with the Japanese companies, US Company should develop the understanding about local culture. It can be helpful to make easy negotiation process with Japanese companies. It is identified that the negotiation style of Japanese people is most polite that help in conversation with the other companies.
South Korea:
In order to create effective negotiation with South Koreans, company should identify the bargaining style. It is identified that South Korean has distributive and contingency ...
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