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STEPS FOR EFFECTIVE NEGOTIATIONS The success of any business depends on the effective negotiation process it has. For this purpose, KBI has taken into the following to facilitate effective...

STEPS FOR EFFECTIVE NEGOTIATIONS

The success of any business depends on the effective negotiation process it has. For

this purpose, KBI has taken into the following to facilitate effective negotiation.

•    Contract of relationship

Different cultures view negotiations differently. The goal of any negotiation is the

contract. Bangladesh culture consider relationship more than the Australians. The

society is family oriented and knowing each other more thoroughly is appreciated than

trying to pursue the contract.it is Important that foreign organisations don’t assume the

informal posture rather get a formal posture fist. Cai, Wilson& Drake (2000).

•    ATTITUDE (win- win, win – loose)

Negotiators can both be gaining and giving back (win win) or they could be having an

attitude of giving and not giving something in return. It is very necessary to know the

counterparts because they could either be collaborative or confrontational.

•     PERSONAL STYLE (informal or formal)

Personal style covers arrange of issues like dress code, how a person talks and

interacts with others. A formal negotiator will always discuss about the contract and

not ask the other counterparts about their personal life. They address the other party

with their titles and avoids nicknames. Tu, Lin & Chang, XXXXXXXXXXAn informal negotiator

will start a conversation by calling the first names with an intention of developing a

relationship. When the negotiations commence the informal party can remove the

jacket / coat, roll up their sleeves in order to be at ease in the conversations.

•    COMMUNICATION (direct and indirect)

Many Asian countries communicate indirectly while western countries communicate

directly.in the negotiation counterparts who are dealing with direct communicators can

be given answers of the questions they have asked and the others can be vague or

gestures can be seen. Direct people are perceived as aggressive hence it’s an insult

while the indirect are perceived as insecure. This easily builds up friction in the

negotiation. Tu, Lin & Chang, (2011).

•    SENSITIVE TO TIME

Many researchers say that some cultures are punctual to time. The characterisation

of this can be different in that countries like Australia try to cut the formalities and

hence get to business but the Bangladesh will be more interested in the formalities to

see if there is a chance for a long term relationship. Investing time in the negotiation

is seen in different angles either the time spent in the formalities or the time spent after

that. Nguyen, Heeler & Taran XXXXXXXXXXThose who keep time say that time is money but

they are perceived as pushy and aggressive.

•    FORMS OF AGREEMENT (specific or general)

Australians have detailed contracts that are able to handle uncertainties this is

because when new matters arise they can go back and re read the contract.

Bangladesh prefer having a general contract this is because when new matters arise

they will focus on the relationship first and then solve the problem giving the

relationship a priority. This major differences brings up unequal bargaining power.

Salacuse, XXXXXXXXXXThe strong counterpart will want a detailed agreement to seal the

contract while the other will want a general contract to have more room for

negotiations.



Oct 07, 2017
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