What are the 5 stages of negotiation and how might you prepare for them?

What are the 5 stages of negotiation and how might you prepare for them?

Deliverable Length:   400–600 words

Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

You are about to embark on an international negotiation. You work for a multinational oil company, and your company has decided to set up a joint venture with Saudi Arabia and another one with a company in Russia. You are leading the negotiations.

• What are the 5 stages of negotiation, and how might you prepare for them? To answer this question consider the following:
  • Is the preparation different with each country?
  • Would inductive or deductive reasoning work better for different cultures?
• What cultural differences do you need to be sensitive to in the process?
  • For example, what would you expect from the Arab negotiator versus the Russian negotiator who will be working with you, the American negotiator?
• What would be some of the political, legal, economic, and ideological issues that may come up?
• How would you manage conflict if it should come up in the negotiations?