MT$330-6$: Examine negotiation techniques to develop relationships with international customers, partners, and regulators.

Scenario: You are a business executive representing a company that is interested in expanding into a new international market. You have scheduled a negotiation meeting with a potential business partner in that market. Your goal is to establish a mutually beneficial relationship with this partner to ensure a successful market entry. Your counterpart represents a local company with extensive industry and market experience.

Product$/$Industry: You can choose any product or industry that you find interesting.

Checklist:

Part $1$: Background Research

Research the industry and market of the country you are targeting for expansion. Gather information on cultural differences, business practices, and negotiation styles.

Prepare a negotiator profile for your counterpart. Consider factors such as their background, experience, goals, interests, and potential negotiation strategies.

Part $2$: Draft

Analyze and prepare a negotiation planning document that includes the following as seen in the example $($do not use the example$)$: Use your own version of this template as a working draft for your report.

Stated purpose: Clearly define the purpose of the negotiation and what you hope to achieve.

Interests: Identify your interests as well as your counterpart's interests. Analyze both tangible and intangible interests.

BATNAs: Determine your Best Alternative to a Negotiated Agreement $($BATNA$)$ as well as your counterpart's BATNA. This will help you set your reservation point.

Options, Issues and Opportunities: Explore strategies to broaden opportunities or reach a mutually beneficial agreement. Examine potential trade$-$offs and methods to enhance value.

Standards and Criteria: Take into account fairness, need, equity, prevailing market rates, industry benchmarks, historical context, underlying assumptions, etc.

Proposal$/$Proposed Solution: Aim for the desired outcome, content with an acceptable point, and be satisfied with a reservation point

Intention: Identify tactics$/$strategies you want to try, goals, and focus areas.

Part $3$: Report

Include your research from Part $1$ and your draft from Part $2$ as an appendix to your report.

Explain and give examples of how you would use the negotiation planning document to guide your conversation with your counterpart.

Discuss how you plan to establish a positive relationship with your counterpart while negotiating a mutually beneficial agreement.

Analyze what might change if you were negotiating with a large customer or a regulator in that same market and explain why.STATED PURPOSE What is this negotiation supposed to be about?

INTERESTS: $($Think broadly, then prioritize. Compare your priorities to find tradeoffs$/$concessions$.)$

OPTIONS & ISSUES $($Brainstorm ways to expand the pie or find a mutually attractive agreement$)$

STANDARDS $($equity$,$ need, fairness, market rates, industry benchmarks, historical data, assumptions...$)$

PROPOSALS $($think in terms of multi$-$issue packages$)$

Aspire to $(=$Target Point$)$

Content with

Live with $(=$Reservation Point$)$

INTENTION FOR THIS NEGOTIATION $($tactics$/$strategies you want to try, goals, focus areas$)$