International Negotiation
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You are about to embark on an international negotiation. You work for a multinational oil company, and your company has decided to set up a joint venture with Saudi Arabia and another one with a company in Russia. You are leading the negotiations.
â?¢What are the 5 stages of negotiation, and how are you going to prepare for them?
?Is the preparation different with each country?
â?¢What cultural differences do you need to be sensitive to in the process?
?For example, what would you expect from the Arab negotiator versus the Russian negotiator who are working with you, the American negotiator?
â?¢What would be some of the political, legal, economic, and ideological issues that may come up?
â?¢How would you manage conflict if it should come up in the negotiations?
â?¢What decision-making process would work better with the different cultures?
?Inductive or deductive reasoning?
?Is it a personal issue or a cultural issue?
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â?¢What are the 5 stages of negotiation, and how are you going to prepare for them?
The five stages of negotiation are the preparation stage. In this stage, the negotiators chalk out the plan that they will use. The second stage is the relationship building stage. Details of each other are exchanged. I will prepare for this stage by getting as much information about the other party and study their concerns. The third stage is the information exchange stage. During this stage the initial position is disclosed by the other party. In my case, I will prepare by stating my position and understanding the initial position of both the parties. The fourth stage is the persuasion stage. I will prepare for this stage by carefully marshalling my arguments so that they convince the other party. The fifth stage is the agreement stage. During this stage the other party agrees to sign a contract. I will prepare for this stage by writing three different contracts for different outcomes and get these contracts vetted by an experienced lawyer.
?Is the preparation different with each country?
The preparation changes with each country. Persons from different countries have move differently during negotiations and this impacts the preparation for each country. The negotiators of each country have different cultural backgrounds and this ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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