k Type: Individual Project Deliverable Length: 1,000–1,200 words
Points Possible: 100 Due Date: 4/28/2014 11:59:59 PM CT [removed]
Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
One of your vendors that work closely with your franchise wants to purchase $10 million in materials and services from suppliers in China, Japan, and South Korea. It was recommended that the 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.
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The middleman stressed the importance of etiquette and social customs in addition to the win-win model.
- What else should the U.S. company (vendor) find out about each culture before it starts negotiating? What are the differences?
- How do these Asian countries view contracts?
- How should the U.S. company (vendor) begin negotiations?
- What are the steps as they apply to these 3 countries?
- Discuss how the company would negotiate using the win-win model. What sort of strategies would it use?
What trade agreements apply, and how do they affect the negotiations?