Art of Negotiation Research Paper Example | Topics and Well Written Essays - 2000 words

Art of Negotiation - Research Paper Example Matt, in order to develop his business in Australia, needs to avail quality supply of fabrics from Red Star Holding in China. The negotiation between the two is essential from the perspective of Matt, as the delay in the deal could cause bankruptcy. It is important to note that the fabrics used for the purpose of making shirts also cause rashers to the users. In this regard, there is a need for effective negotiation between the two parties. The effective negotiation would only occur if there is a collaborative approach between the two and hence, seeking for a win-win scenario for both.The theory of Integrative Based Bargaining can be applied in the negotiation process between the two parties. By taking into concern this theory, Matt should focus on the goals of each party and hence, consider the negotiation. Matt should negotiate with Red Star Holding by ensuring that the latter promises to deliver fabrics, which do not cause rashes to the users. This negotiation should be as such th at it creates a win-win situation for both the parties. In this regard, Matt should promote the flow of information between the two parties and hence, understands the need of other parties. This would lead towards emphasizing the attainment of common objectives and the minimisation of any sort of difference prevailing between them. In the course of considering the international context of engaging with business partners from China, it can be affirmed that it is essential to consider certain important factors before the negotiation round.