NEGOTIATION STRATEGIES Key Considerations in Contract or Dispute Negotiations - PowerPoint PPT Presentation

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NEGOTIATION STRATEGIES Key Considerations in Contract or Dispute Negotiations

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Purchaser bought 2,000 tons of raw rubber from Supplier. Purchaser hired Testing Co. to ... Purchaser has new orders to place for several more thousand tons. ... – PowerPoint PPT presentation

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Title: NEGOTIATION STRATEGIES Key Considerations in Contract or Dispute Negotiations


1
NEGOTIATION STRATEGIES(Key Considerations in
Contract or Dispute Negotiations)
  • John Fotiadis, Director
  • International Trade Group
  • Tilleke Gibbins International Ltd.

2
TIPS FOR A SUCCESFUL NEGOTIATION
  • Negotiation ? Litigation
  • A. No Judge, No Jury
  • B. No need to prove your case
  • C. No need to win/beat the other side
  • D. Not the time for accusations/posturing

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3
TIPS FOR A SUCCESFUL NEGOTIATION
  • What is a successful negotiation?
  • A. You reach an agreement favorable to client
  • B. You learn something you did not know before
    about the other sides position.

2
4
CASE SCENARIO
  • Purchaser bought 2,000 tons of raw rubber from
    Supplier.
  • Purchaser hired Testing Co. to test all rubber
    before being shipped from Thailand.
  • Upon arrival in US, raw rubber is found to be
    defective (brittle indicating extreme age and
    heat exposure).
  • Purchaser has already paid Supplier in full for
    all 2,000 tons (approx. US 2 Million) and
    incurred damage to factory machines (approx. US
    50,000) as well as lost profits.
  • Purchaser has new orders to place for several
    more thousand tons.
  • Supplier and Testing Co. both want Purchasers
    repeat business.

3
5
ESTABLISH YOUR OBJECTIVES
  • Each individual in the room will have their own
    objectives/ideas of what must be accomplished
  • Discuss realistically what your objectives should
    be in advance
  • Arrive at consensus for what is to be achieved
    before even walking in the door

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6
CONFRONTING YOUR OPPONENT
  • Cornering/Pressuring your opponent will often
    lead nowhere
  • Tendency to close up
  • Visible signs of Anger, Disappointment, or
    Frustration can be negatives

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7
WORK AS A TEAMRESPECT YOUR PARTNER
  • Helpful to work as a team--Second Perspective,
    Break in Negotiations
  • Do not let them Divide and Conquer--Work with
    each other

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8
CHOICE OF LANGUAGE
  • Other side will use language to Divide and
    Conquer
  • Sometimes unavoidable, but try to keep both team
    members involved by deferring to them

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9
LET THE OTHER SIDE SPEAK
  • Fight the urge to dominate the discussion--it is
    not who talks the most who succeeds
  • The more they say, the more you learn

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BE PREPARED
  • Know what your opponents arguments will be. Put
    yourself in their position and imagine what they
    will be asking for, what they will be thinking.

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11
RESPECT YOUR OPPONENT
  • Soften their position.
  • Agree with them when you can.
  • Point out their strengths as well as their
    weaknesses
  • Do not talk down to your opponent.
    Especially in cross-cultural negotiations
    (Non-Thai and Thai)

10
12
WATCH AND LISTEN
  • Body language
  • Pauses in responding
  • Watch theirs and your own

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13
IF YOU SUSPECT SOMETHING IS TRUE . . .
  • . . . It probably is
  • Negotiation like an interrogation
  • Acting on your suspicions

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CONVINCE OPPONENT YOU HAVE NO OPTIONS
  • Who wins in a game of Chicken?
  • Only works if you are convincing

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15
BE A GOOD SALESMAN
  • Donald Trump says A good salesman does not
    need a product that the other side wants, he
    makes the other side want/need the product he has
    to sell

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16
ART AND CULTURE OF NEGOTIATIONS
  • Negotiation is an art
  • But unlike art, it is not universal
  • Knowledge and experience of local Culture is also
    key

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Thank You.
  • John Fotiadis, Director
  • International Trade Group
  • Commercial Department
  • Tilleke Gibbins International
  • 662-263-7700 x650

16
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