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International Business Negotiation Chapter3 Preparation for International Business Negotiation Teaching Objectives After studying this module, you should be able to know: 1.Information collection in international business negotiation 2. Team members of negotiation group 3. How to make negotiation schedule? Contents Guide 3.1 Establishing objectives 3.1.2 Key elements of negotiation objectives The key elements of negotiation objectives are: a. Who can contribute to and who will be affected by this negotiation? b.What are the maximum and minimum targets we will seek? c.When must we conclude this negotiafion and when would we like to conclude? d.Where is the best place for us to negotiate? e.Why has the buyer selected us to negotiate with,does this suggest any bargaining strengths for our side? f.How will are we to make concessions and how will we seek counter-concessions from the other party? 3.1.3 Target levels (1)The highest target,or the maximum expectation or top target (2)The desirable target (3) The acceptable target (4)The bottom target 3.2 Collecting Information 3.2.1. What is information? Information has the power to reduce risks . The more we know about a situation, the more certain we are about possible outcomes. The more certainty we possess, the less risks we face in making decisions and planning in the negotiations. 3.2.2 Main contents of negotiation information collection(1)Qualification and credit status (2)Negotiation representatives (3)Market research(4) Local laws and regulations(5)Information on financial credit 3.2.3 Where to collect information International organizations. Governments. Service organizations Directories and newsletters. On-line service. 3.3 Negotiation agenda Negotiation Agenda refers to the arrangement for the timing and site choice of the negotiation, and issues discussed. The agenda is usually prepared by the host party or disc
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