Essay About Emerging Market And Integrative Negotiating Approach

Bus438 Emerging Markets – Negotiation Plan
Negotiation Plan Toni ValerdiBUS438 Emerging Markets Instructor Sheila SweeneyOctober 25, 2015                         Negotiations in an emerging market is challenging and it becomes critical to understand a variety of internal and external workings of the country in which our organization will be launching a new product in the emerging market of Asia. Understanding the emerging market of Asia, as far as the Asian regulatory environment, the market itself, distribution channels, supply chains, tariffs, taxes, and culture will ensure our organization successes while mitigating the challenges associated with expansion into an emerging market. Included in our organizational negotiation plan for entering Asia’s emerging market is strategies, tactics, guidelines, and a pre- and post-meeting checklist.         Our organization will be utilizing the integrative negotiating approach when entering the new to us emerging market of Asia. The significance of the integrative methodology is articulated well by author, B. Spangler, when he writes, “Integrative negotiating (additionally called “investment-based haggling,” or “win-win dealing”) is a transaction methodology in which groups team up to discover a “win-win” answer for their issue. This technique concentrates on creating commonly advantageous agreements focused around the interests of the parties. Investors incorporate the needs, wishes, concerns, and apprehensions essential to each side to aid in the decision-making process. For example, William Ury, the director of the Global Negotiation Project, figured out how to develop trust with the leaders in Venezuela through shuttle diplomacy. By concentrating on their needs and desires, he got the civilians and government cooperating with one another to prevent violence.” (Spangler, 2003b). Asia has a predominately relational negotiation perspective when looking to conduct business with organizations. In implementing an integrative approach with an Asian emerging market, it conveys to the potential emerging market that our organization is also concerned with exploring and providing for solutions or additional benefits for their population. Implementation and employment of this approach will be conducted in stages.        There are four main stages to implement when looking to employ a negotiation strategy. (Scott, B., 1988). The exploratory phase of entering an emerging market is the first and most critical phase to maximize successes when entering an emerging market. This phase provides opportunities for both parties to address underlying concerns, as well as all anticipated outcomes and desires to this mutually beneficial partnership. The bidding phase is when our team and those representing our potential emerging market will begin to exchange proposals back and forth. This is imperative to the process as it allows for an opportunity for each side to whittle down to what objectives are most important and assists both sides in the creation of a more realistic set of goals. The bargaining process is where our team and the perspective emerging market representatives delve into the meat of the issues. At the heart of every good negotiations is the back and forth of bargaining. The bartering process allows all involved to really pair down and realize a conciseness in their desired outcomes. The settling or closing of the deal is typically where the negotiations process draws to an end but when the real work begins. (Scott, B., 1988). To further assist in the negotiations process the employment of negotiation tactics assist in a positive resolution for all parties involved.