The document discusses Rod Zemanek successfully negotiating a $20 million contract to build the largest brewery in Guangdong, China, by doing research on Chinese culture, bringing a China-born interpreter, offering expertise in brewery design and technology, and collaborating with competitors to understand pricing and reputation rather than giving in to demands for a lower price. It also identifies potential cross-cultural conflicts around language barriers, industry regulations, pricing concerns, and cultural differences, as well as strategies for overcoming these, including understanding different perspectives, finding common ground, and bundling negotiation objectives.
The document discusses Rod Zemanek successfully negotiating a $20 million contract to build the largest brewery in Guangdong, China, by doing research on Chinese culture, bringing a China-born interpreter, offering expertise in brewery design and technology, and collaborating with competitors to understand pricing and reputation rather than giving in to demands for a lower price. It also identifies potential cross-cultural conflicts around language barriers, industry regulations, pricing concerns, and cultural differences, as well as strategies for overcoming these, including understanding different perspectives, finding common ground, and bundling negotiation objectives.
The document discusses Rod Zemanek successfully negotiating a $20 million contract to build the largest brewery in Guangdong, China, by doing research on Chinese culture, bringing a China-born interpreter, offering expertise in brewery design and technology, and collaborating with competitors to understand pricing and reputation rather than giving in to demands for a lower price. It also identifies potential cross-cultural conflicts around language barriers, industry regulations, pricing concerns, and cultural differences, as well as strategies for overcoming these, including understanding different perspectives, finding common ground, and bundling negotiation objectives.
1 identified ii. Discuss the arguments for and against the implication of such perspectives for international business negotiations Q i. Negotiation outcomes achieved 2 Rod Zemanek has won the contract to build the largest brewery in Guangdong worth USD 20 million. Send people to get information about the brewery industry in China and their culture Brought China-born staff to be his interpreter to avoid misunderstanding The Chinese did not have knowledge in designing breweries and this can make the Chinese lose their face. Offered himself be an expert in developing competitive brief using the latest technology Offered the Chinese to help them to reduce wastage Collaborated with his competitors from other country to discuss about the price, technology, reputation or some other driver. Useful information to access competitors and to turn the Chinese tactic ii. Cross-cultural conflicts 1. Language differentiation - can lead to misunderstanding 2. The brewery industry is tightly regulated by the government 3. The Chinese concerns about cheap price 4. Chinese team members are opposed against Australian 5. Different culture iii. Cross-cultural synergy Used the language barrier as an excuse that he had properly understood if the Chinese keep on changing the negotiation Rod Zemanek find ways make the negotiator look good in the eyes of their bosses. Offered the brewery design using latest technology that can help to reduce wastage. Used his specialized in understanding and predicting market trends and had access to sophisticated, international market data the Chinese company lacked as his advantages. The Chinese failed to pressure Rod Zemanek to agree with their price by dragging the negotiation process until his departure date when Rod Zemanek just stay until the negotiation process finished. Q Creative negotiation strategies 3 Recommended creative negotiation strategies: i. Do your homework minimum or resistance point avoid any issues that might China walk away rather than continue negotiation Target point analyse counterparty and identify their weakness and strength
ii. Overcome institutional resistance: finding common ground
Five strategy to navigate complex, fast-moving with high-stakes negotiations. Understand the big picture Uncover hidden agendas and collaborate with the other side Get genuine buy-in Build relationships that are based on trust rather than fear Pay attention to process as well as desired outcomes iii. Bundle your objectives Bundling - grouping items together in terms of self-assessment, counterparty and situation Combined value for the group rather than pricing each separately Give opportunity to create value and claim value the more issue, the more chances to reach satisfactory outcome. Analyse and recommend the Q leadership peculiarities, attributes 3 and abilities