In the concluding episode of our Business English Podcast series on negotiating in English, we’re going to look at closing the deal.

Success! The hard work of negotiation has paid off. You’ve reached agreement. Now it’s time to close the deal. In this episode, we’ll study skills and language for the final stage of the discussion. In particular, we’ll focus on summarizing details, tying up loose ends, reinforcing the relationship and adopting a positive style. We’ll see that the end of talks presents a great opportunity to build stronger partnerships.

In this show, we will look at two short dialogs that demonstrate different styles of negotiation. In the first, a construction materials supplier, Tony, calls his customer, Paul, to agree to the terms of a deal. In the second, a general manager, Maxine, calls the owner of another company, Peter, to tell him that her board of directors has agreed to buy his company.

Listening Questions

1. In the first dialog, what does the supplier, Tony, want to confirm with his customer, Paul?
2. What kind of positive language do Tony and Paul use at the end of the dialog to reinforce the relationship?
3. In the second dialog, does Maxine say that the board has agreed to Peter’s suggested price?
4. From the conversation, does it sound as though Peter will continue to work at his company through the merger?

Premium Members: PDF Transcript | PhraseCast

Download: Podcast MP3

In this episode of our ongoing Business English Podcast series on business negotiations in English, we will discuss how to overcome blockage in a negotiation.

Usually we think of blockage in terms of stumbling blocks, or obstacles, to agreement. But blockage can also be any impediment to creating maximum value. In other words, we’re not only interested in removing obstacles to a deal but also in removing obstacles to a better deal. Doing this successfully often requires thinking outside the box, that is, thinking creatively.

So in this episode, we’ll study overcoming barriers. In particular, we’ll focus on identifying stumbling blocks, exploring alternatives, and moving towards agreement.

Recall that Peter, owner of Textacular, has been trying to buy Maxine’s company, Gamester, as part of his strategy to roll up other small businesses. His ultimate goal is to increase the value of his own operation so he can sell it to a larger company for a handsome profit. In previous episodes, Peter had tried to acquire Maxine’s company, but talks reached an impasse when Maxine wouldn’t climb down from or reduce her price of 15 million.

In today’s listening, Peter calls Maxine back to restart talks. As you listen, focus on the language they use to remove obstacles to agreement.

Listening Questions

1. How does Peter suggest restarting talks with Maxine?
2. What does Peter identifying as the main stumbling block to a deal?
3. What does Peter mean when he says, “It’s not a question of growth for us, it’s a question of survival.”
4. What is Peter’s key insight that enables Maxine and him to overcome their blockage?

Premium Members: PDF Transcript | PhraseCast

Download: Podcast MP3

In this Business English Podcast episode, we’ll study the skills and language of bargaining. This podcast is part of an ongoing series on negotiation skills.

Bargaining is the process of swapping or trading concessions – in other words, “You give me something, and I’ll give you something in return.” This is also called making offers and counter-offers. The goal is to reach a compromise – a result in which both sides benefit.

Today’s listening focuses on a typical bargaining situation. Paul is a purchasing manager for a construction company. Tony is a supplier of anchor bolts – large metal screws used in building projects. They are in the middle of a telephone conversation in which they are negotiating an order. Tony has already opened the discussion and clarified Paul’s basic needs. Now they need to agree on the quantity and price.

As you listen, focus on the language that they use to swap concessions and reach a deal.

Listening Questions:

1. What does Paul mean when he says he’ll be “throwing more business your way?”
2. Tony suggests a way of helping Paul get a higher discount. What is it?
3. When Tony says to Paul, “You drive a hard bargain!” what does he mean?

Premium Members: PDF Transcript | PhraseCast

Download: Podcast MP3

Negotiations don’t always go according to plan. Disagreement is part of life. But to build lasting relationships, coping with failure is even more important than celebrating success. So in this show, we’ll examine a deal that does not get completed. We’ll look at making a final offer as well as expressing dissatisfaction and regret. In particular, we’ll focus on maintaining goodwill even when talks break down.

Peter is the owner of mobile phone ringtone and game provider, Textacular. He is in discussions with Maxine about buying her company, Gamester. Eventually, Peter wants to sell his business to a larger, regional service provider for a profit, so he is attempting to roll up or buy other small companies to increase the value of his business. But Maxine wants €15 million for her business, and Peter isn’t prepared to pay that much.

As you listen, pay attention to how Peter makes a final offer, how Maxine declines it, and how they both work to maintain goodwill.

Listening Questions

1) What are Maxine’s reasons for staying firm on price?
2) What does Peter say to justify not being able to pay more?
3) How does Maxine leave open the possibility for future cooperation?

Premium Members: PDF Transcript | PhraseCast

Download: Podcast MP3

In this Business English Pod lesson we’re going to look at how to clarify and evaluate positions during a negotiation.

An important part of any discussion is making our position clear; at the same time, we must make sure we understand the other side’s point of view. Achieving mutual understanding can help us save money by avoiding missed opportunities. In addition, the ultimate goal of any negotiation is to create value. Therefore, evaluation – determining whether an offer or position is good or bad – plays an important role. So in this show we’ll study stating, clarifying, and evaluating positions.

Peter is the owner of mobile phone ringtone and game provider, Textacular. He is attempting to roll up, or buy, other small companies like his in an effort to increase the value of his company. Eventually, he wants to sell his business to a larger, regional service provider for a profit. In the listening, he is meeting with Maxine, owner of Gamester, to discuss a possible merger. As you listen, pay attention to how they clarify and evaluate each other’s positions.

Listening Questions

1) What is the basic source of disagreement between Maxine and Peter?
2) What are Maxine’s reasons for insisting on her price?
3) What does Peter mean when he says he has done “months of due diligence?”

Premium Members: PDF Transcript | PhraseCast

Download: Podcast MP3