GMS 520 Chapter Notes - Chapter 3: Risk Aversion, Decision-Making
25 Mar 2016
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Management must prepare for strategic negotiations, negotiate operational details, etc. Failing to negotiate properly = confusion at best, at worst lost of potential alliances and lost biz. Negotiation- the process of discussion by which 2+ aim to reach a mutually acceptable agreement. Implementing strategy depends on management"s ability to negotiate productively. **one of the most important skills in international business. Biggest reason for unimpressive sales effort = ignorance of native bargaining rituals. Differences include: amount/type of prep, emphasis on tasks vs personal relationships, reliance on general principles vs specific issues, # of people present, extent of their influence. Negotiating across borders is more complex because culture, language, but also greater number of stakeholders involved. *must avoid projective cognitive similarity the assumption that others perceive/judge/think/reason in the same way as you. Astute if you empathetically enter private cultural space and share own view. Distinct advantage in familiarizing self with context/bg of counterpart. Must first understand own style to determine differences.
