The Global Negotiator – Making, Managing, and Mending Deals around the World in the twenty-first Century (book review)
A practical guide to making, managing, and mending international deals in the modern era.
Level: Intermediate to Advanced
Categories: Business, International Trade, Government
Publication Date: 2006-11-29
‘The Global Negotiator’ is a knowledgeable and practical guide for any business that is either considering or already involved with the formation of international relationships and partnerships. In our shrinking world of globalisation, it is essential for business executives to understand and appreciate the fundamentals of conducting business in the international marketplace.
As the subtitle suggests, an international business arrangement is not simply about making a deal, but rather about forming a valuable partnership, that requires both care and maintenance. This is especially relevant as we look at creating a joint partnership over the long term and are challenged by the perpetual changes that influence and affect today’s political and economic realities. The book is solidly based on years of applied research conducted in international settings.
‘The Global Negotiator’ is broken down into three practical and very readable sections to simplify what can be a very demanding and complex process. Section 1 takes the reader through all the fundamental stages of preparation by determining at the outset whether the deal is going revolve around either a contract or a relationship. By gaining a proper understanding of the cultural and social imperatives of the country where we are about to begin a business transaction, there is a certain amount of fact finding which should be ascertained before we even attempt to try and make a mutually beneficial deal with an international partner.
This is followed by seven principals that guide the international negotiator in examining the full process of how to make a global deal. The bulk of the first chapter than examines 7 crucial barriers which can easily foul up our attempts in making a solid bind negotiation from coming unglued. Covering issues such as the negotiating environment, ideology, foreign bureaucracies, and how to handle instabilities and sudden change, Jeswald Salacuse’s book is a must read to gain a good insight in understanding how international deal making works. Throughout this section, the reader is provided with a wealth of practical advice.
Part 2 covers an equally important realm of international deal making in discussing at length how to manage your deal effectively once you’ve both signed on the dotted line. This section also reveals how to develop a contract into both a partnership and a strong partnership by revealing the means to reinforce the ongoing commitments that must develop between the parties involved. In negotiations where the power relationship is uneven, we are provided with a host of useful strategies and tactics to overcome and approach any imbalance to make a more effective deal.
Section 3 covers an even more component of the international dealmaker in describing how to mend problems when things go awry. Deals may need to be renegotiated and this may require we learn to use the art of subtle diplomacy to keep things oiled and functioning. From renegotiating our existing transactions, to employing the use of mediation intermediaries, we are provided with positive solutions to mitigate any minor and major disruptive disputes that might cause avoidable and needless harm to our negotiated agreements.
Finally, the reader is offered a very useful and extensive checklist to consider all aspects and components of an international negotiation for both reference and positive application. We are also provided a very helpful primer on international business transactions that covers a plethora of additional useful tips and topics ranging from the international sale of goods, letters of credit, international licensing agreements, international franchising agreements, and much more.