UNIT 5. IMPLEMENTING GLOBAL MARKETING STRATEGIES
•Negotiating with international customers, partners, and regulator NEGOTIATIONS ARE FORMAL DISCUSSIONS B/W PEOPLE WHO HAVE DIFFERENT AIMS OR INTENTIONS , ESPECIALLLY IN BUSINESS ,DURING WHICH THEY TRY TO REACH AN AGREEMENT. Negotiating with international customers , partners and regulators often requires a lot of meticulous preparations and skill. Successful negotiation demands threadbare analysis and evaluation of the commercial and their impressive presentation and proper understanding and appreciation of the cultural nuances of the negotiating party and skilfully navigating the negotiation process accordingly. In order to successfully negotiate with international customers one needs impressive presentation skills, proper understanding of cultural nuances of the party with whom one plans to negotiate. Negotiations in the international scenario are governed by 4Cs they are common interests, conflicting interests, compromise and criteria. Government authorities can be viewed in two different view-points namely hierarchial view and bargaining view.
Negotiation is a process in which at least one individual tries to persuade another individual to change his or her ideas or behavior. Business negotiations often involve one party attempting to influence another to make a particular decision of sign a contract. Thus negotiating is a process in which at-least parties with different view points and needs try to reach an agreement on matters of mutual interest. There are 4Cs of negotiation:
1. Common interests
2. Conflicting interests
4. Criteria for agreement to hold
The outcome of any negotiated agreement depends on the relative bargaining power of both parties.
Negotiating effectively across cultures is one of the most important global business skills. Global negotiations contain all the complexity of domestic negotiations, with the added dimension of cultural...
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