QUESTION 1
You are a businessperson noted for your ability to complete negotiations in the U.S. within 24 hours. You have been sent to Mexico to negotiate a lucrative joint venture. Discuss the decisions you will have to make and the strategies you will have to use in order to ensure a positive outcome.
QUESTION 2
Describe the five stages of the negotiation process. Explain how the negotiation can be unsuccessful if you leave out one of the steps.
QUESTION 3
List four nonverbal characteristics of culture that you must understand when engaging in negotiations overseas. Explain how an understanding of each characteristic will help you negotiate successfully.
Answer: A joint venture dealing involves taking a lot of crucial decisions regarding the business model and structure, business operation model and sharing of role and responsibilities. Also, joint venture may involve significant risk of business. Thus, parties to negotiation would negotiate to settle on an agreement where they bear minimum
