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Part Ⅰ an Overview of International Business Negotiation Part Ⅰ an Overview of International Business Negotiation Part Ⅰ an Overview of International Business Negotiation Part Ⅰ an Overview of International Business Negotiation International Business Negotiation * Part Ⅰ An Overview of International Business Negotiation Chapter 3: The Negotiation Process * The Negotiation Process The period covered by the negotiation will be divided into three stages: opening its review; bidding bargaining; settling ratifying. * Opening its Review Getting to Know Each Other The Opening The Review of the Opening * Getting to Know Each Other Many relationships in international global transactions begin first with the formation of personal relationships between the players. This interaction gives both parties the opportunity to gain valuable insight and deepen understanding of each other. This is particularly true when we are dealing with people from certain cultural backgrounds, where trust based on relationships is essential. * The Opening The opening phase is influential because energy and concentration are naturally at a high point at the start of any activity. The parties attitudes are being formed at this time. * The Review of the Opening Before proceeding further with the negotiations, the party should review the results achieved from the opening phase. And then decide whether the negotiations can be placed on a bargain acceptable to both sides which can be identified immediately, or a bargain acceptable to both sides is foreseeable which will need further negotiations to achieve, or no bargain is foreseen acceptable to both sides. * Bidding Bargaining This stage covers a broad period of bargaining in which concessions are made and advantage are gained, so that the gap between the two sides is narrowed to a point. generally through an ordered set of steps: 1. Design and Offer Options 2. Introduce Criteria to Evaluate Options 3. Estimate Reservation Points 4. Explor
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