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International Business Negotiation Chapter7 Closing the Negotiation and its tactics Teaching Objectives After studying this module, you should be able to know: In this chapter you will learn 1. who makes the decision to close; 2.when it is time to close; 3.tactics towards agreement; 4. tips on contract signing; 5.summary of the negotiation. Contents After the preparation, bidding and bargaining comes the closing period of negotiation. How to determine if it is time for closure is a key point in this phase.If the negotiation is closed too soon,issues concerned will not be thoroughly discussed,leaving endless trouble for the future;if the best chance to close the negotiation is missed,things will change in the prolonge negotiation.resulting in the loss of the deal. 7.3 Summary of the negotiation7.3.1 Content of business negotiation Summary 7.3.1 Content of business negotiation Summary 7.3.2 Steps of business negotiating summary 7.4 Tips on contract signing 7.4.4 Types of international business contracts 7.4.5 Modification and termination of the contract 7.4.7Means of dispute handling 7.4.8 The contract signing ceremony 7.4.8 The contract signing ceremony Thanks! * L/O/G/O * Closing the deal Summary of the negotiation Tips on contract signing 4 1 2 3 bargaining tactics 7.1 Closing the deal 7.1.1Who makes the decision International negotiations differ only in the fact that the buyer/investor is usually much better informed than a standard customer.Both buyer and seller have an equal chance to close the deal,and the more proactive the decision maker is, the greater chance of controlling the process he’ll have. 7.1 Closing the deal 7.1.2 Identifying closing signals and selecting closing approaches Whether an international business negotiation can be concluded or not is usually decided by three
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