Business Negotiation
Business to business negotiations permit certain margins for cost over-runs unlike when you are global sourcing for own consumption by way of letting you monetize the B2B goods as they are available at your port. But on the B2B negotiation table for import/export, the best strategy to adapt is letting the opposite party do the bulk of talking and wait for loose ends to pitch in. Besides, this keeps your lacunas in your preparedness with regards to import/export procedure of that country.
Business to business negotiation is the crucial get-ahead tool in a global sourcing scenario. Import and export expertise apart, business to business negotiations take thorough understanding of local etiquettes and legal structures assume center stage. This article takes a peep into the role of B2B on import & export negotiation besides exploring business to business negotiation basics. The postulations of the article provide the framework for newer perspectives for business to business negotiation, with a lean on import and export in the global sourcing backdrop. Any B2B global sourcing tangle can be solved through business to business negotiation.
Have the meeting agendas communicated to each other ahead of arriving at the B2B negotiation table to avoid breakdowns. The following steps may be used in any B2B or import and export negotiations.
1. Endear yourself to your party by showing your concerns for the cultural differences and exhibit your interest in their etiquettes before moving onto import/export and financial negotiations.
2. Introduce yourself as a global sourcing representative for your company and you are in the import and export business for xx number of years.
3. Ask whether it is alright to get straight to the point and where they would like to begin from, hint them to start the talk.
Be warned that many B2B and global sourcing negotiations have flopped due to trivial reasons despite experience in import and export.
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