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Political Impact on Global Negotiations
Negotiators have a general understanding of their own local political environment. They are raised in a business milieu that clearly distinguishes who the key players are, and who has to be pitched about a proposal. They learn the roles that each level of government may bring to the table, and the impact roles bring to bear on negotiations. When negotiators take their proposals abroad and negotiate with a foreign power, negotiators often don't sufficiently realize the impact
A negotiation exchange that involves making negotiation concessions or the ‘trading-off’ of issues so as to maximize on each sides' value. So you will offer the other side something that they value more than you, in exchange for gaining something from them that you value more than they do. (Also: Log Rolling)
First Moves in Negotiating Global Agreements
Comparing local negotiations to global negotiations with a prospective foreign partner, is like trying to compare a game of chequers to a game of chess. Although both share similarities, with winning as the object, they are very different games. We have made your contacts, done our homework and spent time on negotiation preparation , and now we're ready to meet with our prospective foreign partner. Before we board the plane we have to carefully consider our opening moves, as
Foreign Currency Contract Agreement Risks
When a negotiator embarks on an negotiating an international agreement with a foreign partner, they have to give serious consideration to which currency is going to be used in their financial transactions. There is a certain amount of risk that a company might have to assume as even veteran skilled negotiators consider whether they are going to issue or receive payments in a foreign denomination. It occasionally happens that between the time when a contract is signed, and when
A formalised legal process to resolve a dispute through legal action in the form of a lawsuit. It often entails a contractual issue. It is the act of either bringing or challenging a lawsuit.
Corporate Negotiation Strategy Check-List (Part 2)
This article is a continuation from Pre-Negotiation Strategy Check List Part 1. These are the remainder of factors that corporate negotiators need to take into account preparing their negotiating strategy. 9. Your Place or Mine? In much the same way as sports teams enjoy a 'home advantage', negotiators playing away from home need to adjust their game plan and corporate negotiation strategies. There are 3 possibilities to consider when deciding where the talks will occur.
Union Constituency Authority Limits
Union negotiators may find that the authority limits they are authorised to observe in a collective bargaining labor negotiation on behalf of their members can be a double edged sword. One tactical advantage in using their constituency authority can include the ability to manipulate public visibility to what is transpiring behind closed doors Another advantage to gain leverage. By raising issues into the public forum, negotiators may be able to manipulate public support
Joint Venture Agreement
A contractual agreement between two or more business partners to assume a common business strategy on a project. All partners generally agree to share the profits and losses through their common shareholdings. Case study example of an effective international joint venture agreement in China.
Pre-Negotiation Strategy Plan Checklist (Part 1)
To perform well, and perform well consistently, we must first learn to prepare. Ask any athlete who spends countless tedious hours preparing for a competition, or a lawyer about to step into a courtroom. At the end of our negotiation training courses, we implore our soon-to-be graduates to book time into their busy calendars to prepare for their negotiations. While many colleagues, clients, and suppliers will demand your time on a daily basis, very seldom will they remind you
Japanese Business Communication
The importance of keeping the lines of communication open with your business partners cannot be overemphasized. Both our domestic partnerships and especially our foreign partnerships are premised extensively on the how frequently and on which important issues the partners talk. Lines of communications need to be a two way process, flowing back and forth. Too many international negotiators do not take the time, and dismiss the need to include some frank discussion in how
A process that occurs between two or more members or colleagues of the same company, organization or constituency. Colleagues need to negotiation internally usually with their stakeholders - most especially when preparing for an external client, supplier, government, regulatory body or other negotiation. The word 'preparation' is often used interchangeably with the phrase 'internal negotiation'. The differing reward structures, motivations and psychology play
Price Tactics for Win-Lose Negotiations
There are some terms that need to be understood when you are involved in one-on-one negotiations. These are negotiations that pit two parties against each other, where the only interest is to wrest out the best value for themselves. this typically results in a win-lose or lose-lose outcome. When it comes to issues involving the price of a product or service, and there is little interest in forming a relationship, you need to know how to use the right tactics to gain the most for your
Success in China - The Celanese Joint Venture
Disclaimer: It is against the The Negotiation Experts' principles to offer its services to the tobacco industry. This Celanese case study has been reproduced for the purposes of study only, and in no way condones the damage tobacco causes. Overview One of the most closely studied Chinese joint ventures is that involving Celanese Corporation of the United States, a producer of value-added industrial chemicals, and China National Tobacco Corporation (CNTC). The venture
Interests in Negotiation
Negotiation interests are considered to be the motivating factor(s) and the underlying reasons behind the ‘negotiation position’ adopted by a negotiation party. Negotiation interests often entail some combination of economic, security, recognition, and control issues, or the desires, concerns, aims or goals of a negotiating party in a negotiation process. When negotiating with an organization, it's important to not focus exclusively on satisfying the interests
Multiparty Negotiations (part 2)
Now that we have considered all the challenges that can be posed by multiparty negotiations in Multi-Party Negotiations (part 1), let us now turn to examining some really effective solutions and tactics, to overcome some of these barriers. 3 Primary Considerations Non - Agreement Consequences: One of the first things a negotiator needs, is to understand what costs and consequences may occur, should the group fail to reach a negotiated agreement. In other words, what are our
A means of negotiation decision making to conceptualize the actions, contingencies of all possible outcomes, options and scenarios. Applied to integrative negotiations with the intention of incorporating the goals and aims of all the negotiating parties to create maximum value through collaborative negotiation.
Multi-Party Negotiations (part 1)
Many business partnerships that are forged in today's increasingly specialised business milieu, often involves 3 or more partners who are co-joining into complex agreements. This bubbling stew pot of positions, needs, and ambitions requires dexterous handling of the right ingredients. This ambitious blend makes the difference between savouring a rich and inviting texture of tastes, or storming out the door in disgust. It's a delicate balancing act where everyone is
Initial Public Offering (IPO)
A company's first sale of stock to the public. The IPO is usually tendered, but not always, by those of young, smaller companies attempting to locate equity capital and a public market for their stock. An IPO may present considerable risk but also has the potential of significant profits for investors. Investment companies (closed end funds) generally include underwriting fees which represent a load which is then passed onto buyers.
When you have a group of managers sitting in a boardroom, you could be reminded of ancient Roman days, when two or more robed members, clustered in the shadows intent on forming a power block. Plotting to cause the downfall of another member or leader. Being a Caesar or a Senator of the ruling class in Roman times, often meant a very limited life span. It was not always the greatest gig it might have seemed on the surface. At times modern budget meetings don't seem all that dissimilar,
A negotiation conducted between law enforcement agencies, diplomatic or other government representatives for the release of a person(s) held hostage against their will by criminal, terrorist or other elements.