Essay about Business Negotiation

1181 Words Nov 9th, 2010 5 Pages
Narendra Kumar Singh
0952523
Turnitin Id: 6760657
BUSINESS NEGOTIATION

‘‘Negotiation is a process of interaction by which two or more parties who consider they need to be jointly involved in an outcome, but who initially have different objectives, seek by the use of argument and persuasion to resolve their differences in order to achieve a mutually acceptable solution’’. (Fowler, 1999)

Any negotiation process has various stages. The example explained below covers every of this stages within the negotiation process. It also shows the Preparation stage and Implementation stage which are very important to get a contract.
Stages during negotiation
1) Defining or exploration the issue, 2) debate or Argument, 3) proposal, 4)
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When Benjamin reached china, he realised that Chinese also invited people from Germany. France and Belgium. So it was very clear that there is tough competition which he never thought before. Chinese are well known for there bargaining power. Benjamin knew this so, he stared focusing on his competitive advantages which was the latest technology. To be in a competitive side, Benjamin brought two Chinese staff with him for helping him to learn Chinese culture and which helped him to build relationship with the Chinese. This step were not been taken by his other competitor, so that’s gave him an edge over competitors. Before the negotiation starts, Chinese provided accommodation to all the tender companies. The atmosphere was made purposely by Chinese to make companies understand that there is competition for tender and they are competing against each other. The tactics behind this was very transparent that this will make company to bring up with the best possible price. Benjamin realised that the Chinese were trying to get best technology at cheapest possible price. The other tactics which have been commonly use by Chinese in their negotiation is that you will find all new faces for every meeting. This will make you confuse and also they will have advantage to change there own words from previous meeting.

To avoid any misunderstanding because of language difference during negotiation,
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