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Negotiation p (1).pptx
- 1. INTERNATIONAL BUSINESS NEGOTIATION NAME; COURSE PROFESSOR: COURSE CODE: DATE OF PRESENTATION:
- 2. W h a t i s N e g o t i a t i o n S t a g e s o f N e g o t i a t i o n Barriers to negotiation Barriers in negotiation in international business Ways to achieve win situation Conclusion Reflection TABLE OF CONTENTS References
- 3. Communication between two or more parties (Shonk, 2021). Aimed at bringing agreement or consensus over a matter. In business negotiation is communication aimed at coming to terms on a matter. Example negotiation between a seller and buyer over price of a product. What is negotiation
- 5. Negotiation Planning Cont. Understand the business target. Understand the best alternative to a negotiation agreement (BATNA). Develop strategies, negotiation approach and tactics. Plan and prepare for the negotiation meeting.
- 6. B a r r i e r s t o N e g o t i a t i o n Negative outlook Focus on wrong objectives Attitude of winning over business objectives Lack of empathy Emotional Control
- 7. Barriers to negotiation in international business environment Cultural difference Language difference Legal boundaries to international trade
- 8. Ways to achieve a win-win outcome
- 9. CONCLUSION All business transaction involve negotiation. The business management should understand effective negotiation strategies. And how to use the strategy in different business situation. To create competitive position for the business.
- 10. Reflection The understanding on various negotiation strategy as well as the business situation they cause has changed my understanding. Previously I knew negotiation was a matter of agreeing with the other party. I was not aware of various strategies to use to yield different result. In future I hop to use such strategies to improve the business position of my company as well as create sustainable relationships with customer and suppliers. 2 3 4
- 11. References •de Oliveira Dias, M. (2020). The Four-Type Negotiation Matrix: A Model for Assessing Negotiation Processes. British Journal of Education (BJE), 8(5), 40-57. •Filo, K., Fechner, D. and Inoue, Y., 2020. Charity sport event participants and fundraising: An examination of constraints and negotiation strategies. Sport Management Review, 23(3), pp.387- 400. •Mazei, J., Mertes, M. and Hüffmeier, J., 2020. Strategies aimed at reducing gender differences in negotiation are perceived by women as ineffective. Sex Roles, 83(9), pp.580-594. •Thompson, L. (2019). The mind and heart of the negotiator. Pearson. •United Nations. (n.d.). Fundamentals of negotiation. https://www.un.org/en/model-united- nations/fundamentals-negotiation •Woodside, A. G. (2019). Organizational culture, business-to-business relationships, and Interfirm networks. Emerald Group Publishing. •Yoon S. (2017, January 3). 7 Negotiation Elements We Can Learn From Harvard. Legalization. https://legalvision.com.au/7-negotiation-elements-we-can-learn-from-harvard
Editor's Notes
- Negotiations is defied as communication and interaction between two or parties with the aim of coming to agreement over an issue or matter In business negotiation is essential if the business will create and sustain the relationship it has with the stakeholders Additionally as the organization expand the negotiation with other industrial players are necessary to create sustainable working environment Example of a negotiation is one involving the buyer and seller of real estate negotiating about the price of the property.
- Define the negotiation issue- the business should understand the issue with which they will negotiate and all maters relating to the issue. This will aid in formulation of the strategy and objective of a negotiation. Know the business position on the issue – the business need to understand the position of the business and how they can use that to gain from the negotiation Understand the opponent party position on the issue- the business should understand the advantage the opponent business has over it. This will help in understanding the negotiation situation at hand. Understand the competition – the business should understand the competition position of each prty involved in the negotiation.
- Understand the business target – the negotiator has to understand the objective of the business or what the business wants to attain from a negotiation Understand the best alternative to a negotiation agreement (BATNA)- The business negotiator has to understand the alternative to the objective which is acceptable to the business. Develop strategies, negotiation approach and tactics – the business has to develop the strategy with which they will use in the negotiation like complete, collaborate, compromising, avoiding or accommodation. Plan and prepare for the negotiation meeting – then the business negotiator should then plan for the negotiation meeting. The negotiator will prepare the meeting room prepare their presentation as well as collect the information needed to prepare for the meeting
- Negative outlook- when the negotiator have a confrontational outlook during the negotiation with the tone they are using the negotiation will be halted and thus affecting the success of a negotiation. Focus on wrong objectives- when the negotiator has their focus on the wrong objective they will use the wrong strategy thus causing failure to meet the negotiation objective. Attitude of winning over business objective – negotiation is about finding solution the negotiator especially for business should be willing o accommodate the other party for the mutual success of all parties involved. Lack of empathy- the negotiator should understand that both party want to benefit from the negotiation and thus and thus respect the will of the other p[arty in a negotiation. Emotional control- when the negotiator has no emotional control they may respond unnecessarily to the aggression or competitiveness of the other party. The negotiator need to have emotional control in check Price- the negotiation will halt when the two parties are not in agreement over the price with which the two parties are negotiation. if one party feel the price is low or too high the negotiation will be halted.
- Cultural difference- when the culture is different the negotiation will face some challenges. The negotiators involved may not understand one another and thus creating confusion in the negotiations. Language difference- communication is facilitated by language used and thus negotiation. The business ought to have a language with which language to communicate and come up with a consensus Legal boundaries to international trade – the international market are governed by laws which determine how the business activity will be performed. Such law if they are disadvantaging the business then the negotiation will have a barrier to succeeds.
- The strategy used to attain this business situation is the collaborating strategy This strategy involve the business abandoning their position such that the agreed position is mutually acceptable and beneficial to all parties This approach create good relationship and is preferred by the business in negotiation with supplier, employee and customer