Premium Essay

International Negotiating: Planning and Conducting International Commercial Negotiations

In: Business and Management

Submitted By ah48180
Words 894
Pages 4
Lessons Learned:
International Negotiating: Planning and Conducting International Commercial Negotiations
In this paper I will cover three important points that go into international negotiations. Here I will cover the importance of who is on your negotiating team, the importance of hosting a negotiation and when to determine what is important to determining what is considered a successful negotiation.
Selection of members of your negotiation team that will be the most effective is not always based on size. Choosing members of your negotiating team is the first step in leading a successful negotiation. Keeping the negotiation team small has many advantages. The costs of travel that include airfare, hotel stay and transportation should all be considered when you are selecting your negotiation team. Often times it easier to present a unified front with a smaller team, which should be of paramount importance with your team. The chief negotiator should be able to direct the team when new issues come to the table. With a smaller team reaching a consensus is more achievable for the chief negotiator; with a large negotiation team this can prove to be a cumbersome task. Members of a negotiation team have other duties that still require their attention; the smaller teams don’t have to deal with this roadblock as much as there are less of them that could get sidetracked with these distractions. Technical experts in these matters can be used as an asset, but sometimes having them can prove to be more of a headache than they are worth. Often times it is easier to teach someone who is well versed in negotiations the technical aspects that are important in a negotiation as opposed to teaching someone who is a technical expert the personal aspects that are important in a negotiation. Having a well balanced team can often lead a negotiation team to success. Personality

Similar Documents

Premium Essay

Culture

...Introduction International business covers all transactions undertaken between enterprises from two or more countries. In order to finalise a transaction companies have to form international operational structures distinct from those applied in their domestic market. Besides knowledge of international strategies managers need to comprehend the interdependence between the strategies and their financial results. Differences between an international and a domestic business concern commercial practices, the scope of managerial decisions, disparities in legal systems, as well as restraints put in place by governments, limitations connected w ith different currencies, not to mention cultural differences. Different business cultures in different countries lead to distinct commercial practices. Therefore, executives operating internationally encounter difficulties that people managing enterprises on a local scale do not have to face. Cultural differences are of fundamental importance for running an international business . The aim of this essay is to indicate the impact of cultural differences on the business strategy formulated for various countries and to show the significance of knowledge about the culture, behaviours, customs and traditions of the partner country in international business. This article is composed of three parts. The two first parts comprise a theoretic essay, in which native cultures are described in the context of international management, and...

Words: 3567 - Pages: 15

Premium Essay

Ireland: a Place to Grow Your Business

...ADM 549 January 22, 2013 Rick Saint-Blancard Abstract Relations between the United States and Ireland have historically been based on shared values and common ancestral ties. Emigration has been a foundation of the U.S.-Irish relationship. Besides consistent dialogue on economic and political issues, the United States and the Irish Governments have official exchanges in areas such as education and medical research. With Ireland's membership in the European Union, discussions of EU trade and economic policies as well as other aspects of EU policy have also become key elements in the U.S.-Irish relationship. This long-term relationship, some cultural similarities and a strong educated workforce makes Ireland a good place to go international with a U.S. based business. Ireland Ireland is a nation emerging as a great place for the United States to conduct business. The relationship of the United States and Ireland are deeply based on shared values and common ancestral ties. These ties help breakdown communication issues that could occur in other dissimilar countries when trying to negotiate business. In addition to shared values, these two countries have similar cultures, as well as similar needs and wants in relation to consumer purchasing history, which makes the exchange of business easier, more lucrative and less risky. Economic Overview Ireland is a small, modern, trade-dependent economy, which experienced strong growth until the world economic downturn in...

Words: 3382 - Pages: 14

Premium Essay

Brazilian Style of Negotiation

...SOCIETY Mariana Simões Foschetti [BRAZILIAN NEGOTIATING STYLE: CULTURAL TRAITS WITHIN] ABSTRACT The opening of borders to international trade transformed the forms of trading, whether in domestic or foreign markets, however, to internationally negotiate it is essential to take into account the cultural aspects of all parts involved in the process. It is notable that culture plays a crucial role in all negotiation process, such as to determine its triumph or fiasco. This paper aims to relate the general cultural aspects of the Brazilian people, how these characteristics influence their behavior during the international trading process and how to generally deal with them as the other party in negotiations. 1. INTRODUCTION In this era of globalization, there is an inordinate necessity to comprehend how culture effects negotiations among parties in diverse areas of the world. Culture deeply influences how people communicate, think and behave. Prosperous cross-cultural negotiations require a perception of the negotiation style of those involved in the process, and the approval and respect of their cultural dogmas and rules. As mentioned, it is unquestionable that culture profoundly influences how people think, communicate and behave (Faure, 1999), thus guiding the type of transactions made and how they are traded. Cultural differences between the negotiators can create barriers that prevent or hinder the development of negotiations. Therefore, knowledge, acceptance and respect...

Words: 2868 - Pages: 12

Premium Essay

Business

... * Proprietary company * Sole trader * Trust * Where to beginWhere to begin * Skills and abilitiesSkills and abilities * Abilities * Skills * ResearchResearch * Conducting market research * Business plansBusiness plans * Write a business plan * Buying a businessBuying a business * Key issues * Steps to buying a business * Buying a franchise * Your business ideaYour business idea * Feasibility * Turn your idea into a business * Financing your businessFinancing your business * Make a budget * Your business loan application * Negotiating your business loan * Work out required finance * Find a business loan * Types of financing * Professional advisersProfessional advisers * Getting the best professional advisers * Types of professional services * Selecting a professional adviser * The importance of locationThe importance of location * Locating your business at home * Leasing commercial property * Insuring your businessInsuring your business * Types of business insurance * Support services and contacts * Running a businessRunning a business * Selling to customersSelling to customers * Sales...

Words: 1078 - Pages: 5

Premium Essay

Xiaomi

...Academic Journals Review Key issues in cross-cultural business communication: Anthropological approaches to international business Tian Guang* and Dan Trotter Shantou University, Shantou City, Guangdong Province, Southern China. Accepted 8 March, 2012 Cultural factors have long been known to influence the communication and success potential of competition. Cultural awareness shapes how business firms behave in cross-culturally reflected international markets. It is broadly recognized that cultural factors act as invisible barriers in international business communications. Understanding cultural differences is one of the most significant skills for firms to develop in order to have a competitive advantage in international business. This paper probes some key elements of cross-cultural issues in international business communication and provides a framework for creating competitive advantage for firms engaged in international business. Culture affects many aspects of international business communication. It impacts free trade policies, localization and standardization strategy decisions, advertising, brand effectiveness, business relationships, international business management, international marketing, international negotiation, and consumer behavior. Seven themes are suggested as guidelines for further research: Cultural impacts of markets, international versus domestic business communication, standardization versus adaptation in cross-cultural communication; cross-cultural...

Words: 6912 - Pages: 28

Premium Essay

Negotiating

...Press • Princeton, New Jersey MANAGING ACROSS CULTURES NEGOTIATING ACROSS CULTURES NEGOTIATING ACROSS CULTURES Published by: PRINCETON TRAINING PRESS Princeton, New Jersey a division of TRAINING MANAGEMENT CORPORATION 600 Alexander Road Princeton, New Jersey 08540-6011 USA Tel: Fax: Web: Email: (609) 951-0525 (609) 951-0395 www.tmcorp.com info@tmcorp.com Editor-in-Chief: Series Manager: Writer: Cover Design: Interior Design: Monique Rinere-Güven, Ph.D. Talia Bloch Robert J. Greenleaf Donna Lukis Bonnie Jacobs © 2000 TRAINING MANAGEMENT CORPORATION. Managing Across Cultures Series: Negotiating Across Cultures All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. Printed in the United States of America ISBN: 1-882390-911 The Cultural Orientations Indicator®, COI® and TMC’s graphical depiction of our Cultural Orientations Model are registered trademarks of Training Management Corporation; Registration: 2,329,085 and 2,361,803. 4 Training Management Corporation TABLE OF Preface OF CONTENTS TABLE CONTENTS iii Introduction 1 Negotiation Defined Negotiating Across Cultures Chapter One: The Impact of Culture on Negotiating Behavior Case Scenario The Ten Dimensions of Culture Cultural...

Words: 37310 - Pages: 150

Premium Essay

International Management Finals

...International Management, 7e (Deresky) Chapter 3: Understanding the Role of Culture 1) International firms like Starbucks and McDonald's most likely modify their business practices in Saudi Arabia because of . A) prevalent religious customs and beliefs B) poor international business relationships C) low demand for American products D) tight restrictions on foreign trade Answer: A Diff: 3 Page Ref: 91 Chapter: 3 Skill: Concept AACSB: Multicultural and Diversity 2) Women in Saudi Arabia are permitted to work alongside men as . A) lawyers B) architects C) engineers D) doctors Answer: D Diff: 2 Page Ref: 91 Chapter: 3 Skill: Concept AACSB: Multicultural and Diversity 3) All of the following statements about women in Saudi Arabia are true EXCEPT that they are . A) allowed to earn a college degree B) restricted from owning businesses C) allowed to buy designer clothing D) restricted from driving cars Answer: B Diff: 3 Page Ref: 91-92 Chapter: 3 Skill: Concept AACSB: Multicultural and Diversity 4) What is the primary reason that high-end department stores operate in Saudi Arabia given the country's dress restrictions? A) Dress restrictions only apply to certain regions of Saudi Arabia. B) Women wear designer clothes for public functions when abayas are not required. C) Wealthy men and women in Saudi Arabia are interested in the latest fashion trends. D) Saudi Arabia draws travelers from Europe who want the latest designer...

Words: 20960 - Pages: 84

Premium Essay

Bdjobs Training

...Page |1 ABOUT US Bdjobs Training has been the biggest professional training house in the country. The tracks of its training programs include Marketing/Sales, IT , Commercial, Finance, Quality & Process, Industrial Engineering, RMG, Banking, HR, Development/NGO, Management Development and so forth. Since its inception, Bdjobs Training has been mentoring the professionals by providing latest industry focused education. BT, in this expedition, engages hundreds of industry experts to ensure quality education to the young entrepreneurs and professionals of the country. BT offers both short (1 or 2 days) and long courses in the form of workshop and certificate training. Also BT offers customized in-house training programs exclusively designed for a group of employees. Customized courses can be provided either at our training facilities or on-site at clients’ location. Our training programs are lively, interactive, and include role-playing and demonstrations of real-life workplace issues and solutions. bdjobstraining.com Page |2 bdjobstraining.com Page |3 TRAINING TRACKS Marketing/ Sales Track • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 1111 Selling Techniques for Excellence 13 Lessons to turn every Company into Fantastic Brands Advance Selling Techniques Art of Pharmaceutical Sales Brand Management–Walking the Talk Branding for Bangladeshi Business Constructive & Modern Leadership Approach in Selling through Team...

Words: 2551 - Pages: 11

Premium Essay

Mercantile Bank Foreign Exchanges

...Certificate of The Project Guide This is to certify that the extensive study entitled “Operational Aspect of Foreign Exchange Department of Mercantile Bank Limited” Conducted on behalf of MERCANTILE BANK LIMITED, Branch of Mirpur Prepared in partial accomplishment of the requirement for the award of the degree in Bachelor of Business Administration From Stamford University of Bangladesh Is a record of extensive examine carried out By Md.Rokon Uddin BBA-02405912(24th Batch) Under my supervision & guidance.No part of this report has been submitted for the award of any degree/diploma/fellowship or other similar designation or accolade. Mrs.Rima Parvin Certificate of Approval The Internship Report of Md.Rokon Uddin BBA-02405912(24th Batch) Stamford University of Bangladesh Titled “Operational Aspect of Foreign Exchange Department of Mercantile Bank Limited” Conducted on behalf of MERCANTILE BANK LIMITED,Branch of Mirpur Is approved and is suitable in eminence and figure. Mrs. Rima Parvin Letter of Submission , 2009 Mrs.Rima Parvin Lecturer Department of Business Administration Stamford University, Bangladesh. SUBMISSION OF INTERNSHIP REPORT Dear Madam With immense pleasure...

Words: 17487 - Pages: 70

Free Essay

Business Correspondence

...FOREWORD At no time during the last three or four decades have the communication skills of individuals in the business world come under closer scrutiny than today. And never before have those who work in the business world needed better, more effective communication skills. The emerging technology appears to be increasing, rather than decreasing, the need for effective communication skills. As more individuals have ready access to desk-top equipment to process written communication, fewer support personnel will be readily available to provide editing assistance. Therefore, welldeveloped communication skills among originators are more important to success than ever before. This book is suitable for several different audiences, including undergraduate and graduate students. The organization of this manual is a logic sequence of chapters including both business communication and correspondence. The first part is dedicated to business communication and the second to business correspondence. The special features found in this edition are: 1. Examples of effective letter writing. Studies have shown students studying written business communication can learn as much, if not more, from ineffective examples of written communication as they do from effective examples. 2. Varied application problems in the writing-oriented chapters. The number of problems has been increased. While the majority of problems require the writing of a letter or report, some are designed...

Words: 59343 - Pages: 238

Premium Essay

Forign Exchange Operation

...Limited, Narayanganj Branch is prepared to fulfill the partial requirement of the internship program, a full credit subject of the BBA program of the University. Bank can be termed as iron cell of blood in a financial system of a country. In Bangladesh today financial sector is one of the most established areas in the macroeconomic sector. Banking is a pillar of economy that is guided by laws, rules, regulations and practices. The main objective of the banking industry is to collect deposits from the people and to invest that money in the form of loans and advances to businesses or other purposes. In our country Banking Company’s act 1991 remain operative to control and monitor the function of banks. Since the banking functions are commercial in nature, many laws from the negotiable instrument act to civil procedure code are essential in the day-to-day operations of the banks. Generally a bank comprises of three departments- General Banking, Credit Department,...

Words: 7833 - Pages: 32

Premium Essay

There Are over 120 Kfc and Pizza Hut Outlets in Singapore, Employing About 5,000 Staff. Both Brands Also Offer Singapore-Wide Delivery Services

...MAHATMA GANDHI UNIVERSITY KOTTAYAM REGULATION 1. COURSE OBJECTIVES The MG University MBA program is designed with the following objectives: 1. To develop young men and women in to professional managers to manage all sectors of the organized economic activity. 2. To equip the youngsters with conceptual and interpersonal skills and social purpose for managerial decision-making and its execution in real situations. 3. To develop and encourage the entrepreneurial capabilities of young generation to make them effective change agents. 4. To meet the demand for trained and professional people in the country at the top level management of business and industrial organizations in the light of the new economic and industrial policy of the country. 2. COURSE DURATION The MBA (Full Time) programme of Mahatma Gandhi University shall be spread in two years duration with 4 Semesters. Each semester shall comprise of a minimum of 16 instructional weeks of 5 days each of 5 hours a day (total contact hours 400). Continuous Internal Evaluation during the course period and University examination at the end of each semester shall be conducted. There shall be a semester break of 15 days each in addition to the usual Onam, Christmas and summer holidays. 3. ELIGIBILTY FOR ADMISSION 1. A pass in any Bachelor’s Degree Examination of Mahatma Gandhi University or an equivalent degree of any other universities duly recognized by M.G.University with not less than 50% marks in the aggregate for all parts of...

Words: 20659 - Pages: 83

Premium Essay

Trade and Environment

...A RESOURCE BOOK Edited by Adil Najam Mark Halle Ricardo Meléndez-Ortiz Trade and Environment: A Resource Book © 2007 International Institute for Sustainable Development (IISD), International Centre for Trade and Sustainable Development (ICTSD) and the Regional and International Networking Group (The Ring). Trade and Environment: A Resource Book Edited by Adil Najam, Mark Halle and Ricardo Meléndez-Ortiz ISBN 978-1-895536-99-7 Published by International Institute for Sustainable Development, International Centre for Trade and Sustainable Development, The Regional and International Networking Group This publication is available online at http://www.trade-environment.org http://www.iisd.org http://www.ictsd.org http://www.ring-alliance.org Cover photos from iStockphoto. Readers are encouraged to quote and reproduce this material for educational, not-for-profit purposes, provided the source is acknowledged. Printed on 100% post-consumer recycled paper. Trade and Environment: A Resource Book The International Institute for Sustainable Development (IISD, http://www.iisd.org) contributes to sustainable development by advancing policy recommendations on international trade and investment, economic policy, climate change, measurement and assessment, and natural resources management. Through the Internet, we report on international negotiations and share knowledge gained through collaborative projects with global partners, resulting in more rigorous research, capacity...

Words: 121449 - Pages: 486

Premium Essay

Media Agency

...Selecting a media agency In association with: Selecting a media agency INTRODUCTION Whatever their size and experience, advertisers strive for quality, performance and productivity in all disciplines; and media strategy/media buying are no exception. In any discipline, questioning its process may occur at certain times in the lifecycle of an organisation, and this may lead to a media pitch. Over the past years, media planning and buying have come through many changes. Communication groups have turned their media departments into specialised companies and independent media buying shops have strengthened their skills and strategic capabilities. The companies are no longer mere buying points but real media agencies: their competencies have broadened to better meet advertisers’ needs. Today, advertisers face a highly concentrated and sophisticated media agency market, whose players have a high degree of professionalism. Selecting a business partner in this area is therefore a critical step for both the advertiser and the agency, and from both a strategic and financial perspective. In this context, this guide aims at helping advertisers and agencies to work together in an informed manner, focusing on quality and performance in their relationships. We propose methods, from defining the objectives to fine-tuning the contractual arrangements, which will allow the advertiser and its media agency to build a new relationship on solid grounds. Rather than identifying the “best”...

Words: 6867 - Pages: 28

Premium Essay

Manager

...2012 International Conference on Technology and Management Lecture Notes in Information Technology, Vol.21 The Cross-Cultural Management of Chinese Enterprises’ Cross-Border M&A--- A Process-Based Perspective Bo Xu1, Xi Jiang2, Haiyan Yan3 1 1900, Wenxiang Road, Songjiang District, 201620 Shanghai, China brianxubo@163.com 1900, Wenxiang Road, Songjiang District, 201620 Shanghai, China jiangxi-219@163.com 1900, Wenxiang Road, Songjiang District, 201620 Shanghai, China yanhelen@163.com 2 3 Keywords: cross-border M&A; cross-cultural management; M&A process Abstract. This paper aims to investigate Chinese enterprises’ cross-culture management issues from the perspective of three stages of before, during and after the cross-border merger and acquisition. It proposed an analytical framework of cross-culture management under which the major focus was on the cultural distance measure, the choices of negotiation/information disclosure, integration mode selecting, culture conflict/ integration and culture innovation in the process of Chinese enterprises’ cross-border M&A. 1. Introduction According to the “China's Foreign Direct Investment Statistical Bulletin 2010”, China's foreign direct investment, the amount of direct investment, in the form of M&A, reached $29.7 billion in the fields of mining, manufacturing, electricity production/supply, professional technical services and financial sector in 2010. From the report of Chinese enterprises overseas mergers and acquisitions...

Words: 3410 - Pages: 14