Essay about Business Negotiation

1160 Words Nov 2nd, 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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As Chinese were changing there mind very often, Benjamin also done the same by taking language as an excuse. Every evening he used to review all what had happened during negotiation meeting, and took language as an excuse if he had to change any of his words. As it was taking too long and still no conclusion, Belgian and French companies quit. Also that they had already offered there best price during initial meeting , which did not left any room for more dropping of price. This was the big mistake done by them as Chinese people can’t do business without bargaining. Benjamin was smart enough, so he did not gave out his best price yet. The other reason up to certain extent for French and Belgium to quit was the food cuisine. As there is vast difference in food cuisine, it was difficult for them to survive when there was not much progress on negotiation. Benjamin was very much determined and was very much prepared to take every challenge. Chinese people always judge people by testing their patient and by putting them under pressure. They tried to put pressure on Benjamin by asking him about his return date and all, but Benjamin knew it was there tactics so he replied politely that until the deal finish he will stay. This showed a very positive attitude about himself. Chinese people also liked his perception about Chinese. Chinese negotiator tried different emotions like they demonstrated they don’t have money and to reduce the money but Benjamin knew

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