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Negotiation styles - Essay Example

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A successful negotiation in Canada starts with informal meet and ends with formal agreement. The report also emphasises the need of…
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Negotiation styles
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Negotiation styles

Inter-net has acted wonders. The ever rising impacts of the globalisations have changed the terms of trade from that of the traditional ways of doing business.
The same has been experienced by the “Yabbies R Us”. The organisation set up by the Adams family to supply the processed yabbies to a Perth based restaurant, is now exporting the same to certain foreign customers of Singapore. The organisation claims that it can export to any part of the world with in thirty-six hours. To set up deals with more foreign parties, the importance of negotiating skill is immense. The Adams group has to ensure best deal for them as they try to become a global player.
Adams group plans to enter the western market (particularly that of Canada) with their product of processed yabbies. The group should know the various negotiation strategies prevailing in the country in order to be successful in their venture. The negotiation strategies generally commences with informal meets among the concerned parties in Canada. The authorities of ‘Yabbies R Us’ can invite some of the Canada based potential customers of the processed fish in an informal meet. The potential customers of yabbies would generally be hotels and restaurants. So, there are possibilities that the first meet takes place at the prospective customer’s place. But to have more negotiating power, the ‘Yabbies R Us’ authorities should try and select a different venue from that of the client’s place. The visiting party should not wait for the right moment to pitch their product. In most cases, it is the Canadian party that talks about the business purpose first. 1
In this initial step, the ‘Yabbies R us’ management should present their product in an informal way and should narrate their prospective counterpart, the long term business plans and the expected share of profit from the business.
Once the negotiation starts with on an informal note, the ... Read More
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