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Options, Futures, and Other Derivatives, 7th Edition, Copyright ? John C. Hull 2008 Options, Futures, and Other Derivatives, 7th Edition, Copyright ? John C. Hull 2008 Options, Futures, and Other Derivatives, 7th Edition, Copyright ? John C. Hull 2008 Options, Futures, and Other Derivatives, 7th Edition, Copyright ? John C. Hull 2008 International Business Negotiation * Part Ⅰ An Overview of International Business Negotiation Chapter 1: Introduction to International Business Negotiation * Key points Characteristics and contents of international business negotiation Negotiation principles * Concept of Business negotiation The word “Negotiation” derives from the Latin word “Negotiari”, which means “to do business” Business negotiation is a process of conferring in which the participants of business activities communicate, discuss and adjust their views, settle differences and finally reach a mutually acceptable agreement in order to close a deal or achieve a proposed financial goal. * Characteristics of Business Negotiation (1) The objective of business negotiation is to obtain financial interest (2) The core of business negotiation is price (3) Its principle is equality and mutual benefit (4) Items of contract should keep strictly accurate and rigorous * Definition of international business negotiation International business negotiation refers to the business negotiation that takes place between the interest groups from different countries or regions. It is an important activity frequently involved in foreign trade and other economic exchange, serving a critical approach and method for these interest groups or individuals to confer together to reach an agreement or settle the issues of their interest conflicts. * Characteristics of international business negotiation (1) Language barrier (2) Cultural differences (3) International laws and domestic laws are both in force (4) International political factors must be taken into account (5) The difficulty and the cost
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