Developing a strategic plan for negotiation
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Your company has been approached by a reputed Japanese firm that wants exclusive production and selling rights for one of your innovative products. Your company has been looking for a strategic partner for the production of this product to reduce costs. The company president is very interested in exploring the possibility of developing relationship with this Japanese firm. This deal is very critical to the growth of the firm 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 your firm is doing business with Japan, and this is also the case with the Japanese firm.
What do your negotiators need to know about Japanese bargaining behaviors to strike the best possible deal with this company?
In your small group, develop a strategic plan for negotiation and conflict resolution for your firm's executive team in its first meeting with the Japanese. Include explanation of the bargaining behaviors of both countries. Are there any similarities between the two culture's bargaining behaviors? Can you create a win-win deal? Additionally, include all the relevant information you can about building relationships with the Japanese because to increase the chances of successful negotiations, the negotiating team will be deployed to Japan for a full month before the negotiations.
? What is the problem statement (20 points)
? This the time to learn what Geert Hofstede has to say on cultural indexes (cultural dimensions resources), find the indexes for Japan and the USA (PD,IND, MAS, UN...)[30 points].
? By learning these indexes and consulting the literature the two firms will be able to know what the Japanese should know about the Americans [40 points]
? What the Americans should know about the Japanese [40 points]
? Produce a win-win plan [40 points]
? What is your conclusion [30 points]
Please include citations & references
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The response addresses the queries posted in 1467 Words, APA References
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The response addresses the queries posted in 1467 Words, APA References
Strategic Plan for Negotiation
Negotiation
Negotiation is an important part of administering the business transactions. The American as well as Japanese firm has to focus on establishing the negotiation based partnership in an effective and efficient manner. So as to attain benefits from the fairness and bargaining behavior related to the transaction. The Win-Win negotiation technique is mainly based on the phenomenon of providing acceptable solution to both the parties entering into the transaction. On the basis of the different conditions involved in the transaction, the negotiation technique differs to a great extent (Ghauri & Usunier, 2003).
The negotiation process becomes complex in case of international transactions. It is due to the reason that cultural differences come into existence and the bargaining behavior also differs in many aspects. The problem statement and related strategic plan will be discussed in detail in the paper, by considering the negotiation and bargaining behavior of the Japanese as well as American people.
Problem Statement
The Problem Statement should focus on attaining benefits to both the Japanese and American firm. Therefore, it will be defined as:
Will the Win-Win deal be beneficial for Japanese and American firms?
The main aim of this paper is to prepare a win-win plan for the American firm, so as to attain benefits from the business transaction. The strategic plan regarding negotiation and conflict resolution for the American firm is described as follows:
Mission Statement: The Mission Statement of the American firm regarding the business transaction is to attain a win-win deal with the Japanese firm and there will be no conflict among the two parties.
Vision Statement: The Vision Statement of the American firm regarding the business transaction is to attain long term benefits from the win-win deal.
Bargaining Behavior of Japanese and Americans
The Japanese people mainly focus on negotiating the personal relations with the other party. The culture of Japan is state controlled, which is mainly based on the avoidance of risk. The Japanese people focus on establishing negotiation deal in groups and try to resolve the matters of conflicts by not taking any legalistic actions. Japan has a stable and homogeneous culture. Japanese follow the implicit modes for exchanging information, which is high context communication. Due to the indirect approach of Japanese language, the Japanese negotiation processes are vague and ambiguous (Berton, 1998).
Japanese Bargaining Behavior Approach is conservative, well organized, centrally oriented, resistant, easily understandable and based on ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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