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International Business Negotiation Chapter 1 Fundamentals of International Business Negotiation 1.1 Concepts and Principles of Business Negotiation 1.2 Correct Understanding of Negotiation 1.3 Stages of Negotiation 1.4 Psychology in Negotiation Concepts and Principles What Is Business Negotiation Characteristics of Business Negotiation The Basic Principles of Negotiation Explanation of Definition Element of human behavior Negotiable issues Between people with the same interests Taking but also giving Trust each other 1.1.1 Legal Definition of Negotiation It is a process by which the involved parties or group resolve matters of dispute by holding discussions and coming to an agreement which can be mutually agreed by them. It also refers to coming to closing a business deal or bargaining on some product. 1.1.2 Characteristics of Business Negotiation 1. With a common goal but divergent methods 2. Satisfied by both parties 3. Share open information to find sth in common 4. Try to understand 5. Achieve common and complementary objectives acceptable to both 6. Redistribute the uneven potential 7. Everything is negotiable 8. Zero-sum game 1.1.3 Principles of Negotiation Equality principle Sincere cooperation Keep it flexible and fluid 1.2 Correct understanding 1.2.1 Conflict Too natural that conflicts occur where both sides have different or separate views concerning interests. As long as the desire is greater than need to break off the relationship, they will try to find ways to minimize conflict and achieve what they want. 1.2.2 Key aspects of negotiation ① interdependence ② concealment and openness ③ different negotiation situations ④ bargaining mix and creativity ⑤ representative and constituency ⑥ personal relationships between both sides ⑦ proposal exchange ⑧ winner or loser 1.2.3 Tips for a successful international business negotiation mission Small delegation not large one Leader with a high ranking and recognized public figure Dependable contacts and work on l
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