Elements Of Negotiation In Negotiation

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INTRODUCTION An international business deal is not only cross border but also cross culture that influences people on how they think, behave and communicate. The differences in cultures between the business executives also creates many barriers that interrupts or completely shatter the deal. Because of the great diversity of world’s people & cultures, it is impossible for anyone to fully understand all cultures that exists and with whom the trade takes place. The “top 10” elements of negotiation constitutes this basic framework for identification of the cultural differences that arises during the negotiation process. They are as follows: Goal for negotiation- Contract/relationship? Negotiators from different cultures perceives the purpose of negotiation differently. Even though the written contract express the relationship, the essence of this deal is relationship itself. Thus determining how the counterparts see the purpose of our negotiation is important. Merely convincing the relationship negotiators of our ability to deliver at low cost may not be sufficient to crack the deal. Attitude towards negotiation- Win-Lose/Win-Win? Business people approach to deal making with these behaviour- a negotiation is either a WIN-WIN or WIN-LOSE. The win–win negotiators perceives deals as collaborative & problem-solving process on the other hand the win-lose negotiators perceives it as a confrontational process. Personal style of negotiators- Informal/formal? Personal

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