As we usher in the New Year, it’s worth taking a moment to see how this year’s major business themes have played out. While smatterings of growth and dips in unemployment have brought relative stability to Europe and the US, analysts at Nomura foresee policy changes that may reshape global prosperity in the long-term.
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Welcome back to Business English Pod for today’s lesson on strategic negotiations in English and establishing a position.
If you’ve ever had to negotiate anything, whether it’s a salary, a corporate buyout, or a partnership, you’re sure to understand the importance of preparation. You can’t head into the room without first figuring out what you want and what you’re willing to give up. And if you’re doing the negotiation with a team, it’s even more important. Everyone needs to know the plan and the strategy beforehand. Otherwise you’ll be looking at each other and wondering “well, what should we do now?”
Before a strategic negotiation, your team needs to establish its position. But what does that involve? How do we do that? In today’s lesson, we’ll look at some useful techniques for this situation. We’ll cover summarizing key benefits, anticipating obstacles, and suggesting ways around obstacles. We’ll also learn how to decide on an initial position and propose a negotiating strategy.
In our last lesson, we heard Mike, the VP of Asian sales for an American autoparts company called Sigma. He pitched the idea for a partnership to a former colleague who now works for a Japanese company called NVP.
In today’s dialog, we’ll hear Mike meeting with Grant, Sigma’s Senior Vice-President of Worldwide Sales, and Tess, who looks after the business development and legal departments. Together, they’re trying to work out an initial position before heading into the negotiation with NVP.
Listening Questions
1. Why does Mike mention NVP’s huge volume, huge network, and strong foothold in SE Asia?
2. What does Mike suggest as a way around the China problem?
3. Which idea does the team agree to save for later in the negotiation?
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Welcome back to Business English Pod for today’s lesson on business English for negotiations and how to pitch the initial idea.
Competition is at the heart of business. Companies try to outdo each other, outsell each other, and even destroy each other. It’s the nature of the game. But cooperation has its place to. Companies often work together to achieve mutual aims. They form partnerships, using their different assets and strengths to become an even greater competitive force.
But a good partnership is tough to build. Any kind of agreement has to make sense for both sides, and each will try to get as much out of a deal as possible. Sure, they’re cooperating, but they want to make sure they’re cooperating in the best possible way for themselves.
So how does a strategic partnership begin? Well, any agreement begins with a negotiation, a strategic negotiation. And how does a negotiation begin? It begins with an idea, an idea for two companies to work together. And that’s what we’ll be looking at today.
When you pitch an idea for a strategic partnership, there are several key techniques you’ll need. This includes broaching the topic, pitching the basic idea, and speculating about feasibility. It also includes showing tentative agreement, outlining how the partnership might work, and outlining the next steps in the process. We’ll cover all these techniques in today’s lesson.
In the dialog, we’ll hear Jamie and Mike, two former colleagues who have run into each other at a trade show in Malaysia. They have agreed to meet up for a drink after the day’s events, and are now talking about doing business in Asia. Mike is looking for a way to introduce his idea for the two companies to cooperate.
Listening Questions
1. In the beginning, what does Mike say his company is looking for?
2. Which idea is Mike tentative or hesitant about?
3. What is Mike going to do next?
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Welcome back to Skills 360 for today’s lesson on how to defend yourself and your ideas.
One of the tough things in business is that you’re not just dealing with ideas and rational decisions. You’re dealing with people. And people don’t always take a cool and logical approach to things, even if you do. They get emotional about ideas and worked up about disagreement. And you might get that way too. Passion is a good thing, but too much negative emotion is counterproductive. So how can we manage people’s emotions while continuing to defend ourselves?
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*** Get all the Skills 360 lessons in our free Business English App:
Download from the App Store
Welcome back to Skills 360 for today’s lesson on how to defend yourself and your ideas in a competitive world.
Some people might think that good ideas will win the day, simply because they’re good ideas. But it’s not that simple. If you’ve got good ideas, you’re going to have to convince people of their value. And you’ll definitely have to defend them against all the people out to criticize or compete with you. It’s a dog eat dog world, as they say, and you want to make sure you’re not the dinner.
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