Quiz 19: Inventive Negotiations With International Customers, Partners, and Regulators

Business

Describe the following terms Stereotypes : It's a type of marketing that is based on an informal concept. Under this type of marketing, market researcher's conducts marketing campaigns based on common perceptions about values and behaviors of particular demographic group of customers. Best alternatives to a negotiated agreement (BATNA): It's a negotiable agreement that is taken up if the negotiations fail and an agreement cannot be reached. Moreover, BATNA is seen as the driving force behind an effective negotiator. Under the agreement, a party generally does not accept a worse resolution than its BATNA. Nontask sounding : It is generally seen that America-s discuss topics other than business at the negotiation table such as family politics, weather and the general business conditions. The business moves at hand after 5-10 minutes. This kind of preliminary talk is known as non-sounding task. Task related information exchange : It is an information exchange which is generally a two-way communication process that occurs when non task sounding is complete and a trusting bond is established when the business is introduced. Inventive in negotiations refers to a new style of thinking about human exchange and how two people conducts inventive negotiation in all aspects of life such as political, personal, global and commercial.

Cultural stereotypes stands for the standard perception and beliefs about particular culture and its people. For example- People of JP Country are believed to be workaholic and punctual and this is a cultural stereotype of that country. Cultural stereotypes could be dangerous because when a particular culture is regarded with clichéd actions, attitudes, beliefs and behaviors of the people belonging to that culture, then this perception about this culture that people of different cultures hold about them is quite difficult to change. For example- Mostly people in Asian Countries like IND, NP, and SL etc. are vegetarians and avoid eating meat of any kind. This fact about the culture of these countries could deter people from different countries to offer meat products to these places as there are very less chances of getting a good response to this kind of product. Similarly, if cultural stereotypes are related to the lethargy, non-punctuality and non-seriousness towards work about the people of a particular country, then it would be quite complex for different countries to hire people belonging to the nation where people tend to relax at work and are not so productive. This stereotype could be dangerous for the economic progress of that country as other countries in the world might not show interest in undertaking business relationships with this country where people are not workaholic. This way it could be concluded that cultural stereotypes could be dangerous.

Cultural stereotypes stands for the standard perception and beliefs about particular culture and its people. For example- People of JP Country are believed to be workaholic and punctual and this is a cultural stereotype of that country. The following are the three ways in which culture influences negotiation behavior- • When the people of a particular culture are stingy, miser, and does not like to spend their money unnecessarily then this culture influences the negotiation behavior of the people residing in this country. The people would negotiate to any limit to obtain any product or service of their liking at least minimal cost and if they are not able to grab a good deal even after negotiation then they would easily give up the idea of buying that product or service rather than spending high cost for the same. • If the business industries of a particular culture are regarded as quite rigid and not so flexible, then the other business industries in foreign nations would not take much initiative to undertake business activities with the industries belonging to the rigid culture. This is because every successful business is managed with bit flexibility and in its absence a business could not prosper to a large scale. • When a particular culture believes in non-violence not only towards human beings but also towards animals then it would be quite difficult for meat selling industries to negotiate with such countries that due to religious reasons do not use meat in their daily usage and consumption. This way culture influences negotiation behavior of the business relationships between countries.