Colorado Technical University
Professor Robert Wilberding
Phase 3 IP
March 12, 2013
One of my vendors that work closely with my franchise wants to purchase $10 million in materials and services from suppliers in China, Japan, and South Korea. It was recommended that my company use an approach to business negotiations that provides a win-win for both parties. Management was also told they needed to know the background of the Asian negotiator and that they should use a “middleman” to help them with the negotiation. Because of your work in China, the vendor would like your advice in this business dealing.
The intermediary stressed the importance of ...view middle of the document...
How do these Asian countries view contracts?
Asian countries unlike western countries do not view contracts as binding sort of speaking they see a contract as a business relationship only. They believe in changing the contract down the line if it was verbally mistaken or misunderstood. Asian countries believe in period when doing business negotiation, which simply means that they believe in doing the work or supplying the product or service within the specific time agreed upon.
One thing that the US vendor company can do to begin negotiation will be to send the company information on their business and information on yourself to help the other party become familiar with you before doing business or meeting on another. The next thing will be to set up a time that will suit both parties such as time, date, and place. Another thing that can be done will be to put together a team for negotiations that these individuals will know how the different culture ettitiques are and how to approach them with business matters. One thing that an individual could do is take a cross-cultural training class that will teach them about the values, beliefs, etiquette, and business approach.
The three most important steps to take when negotiation is first establish a personal relationship with the other company that you are seeking to do business with. This will allow each party feel relax...