How can you effectively negotiate a contract with the Chinese? Here is an example of what tends to happen when a US team does not understand how the Chinese culture impacts the business environment.
The American team travels to Shanghai for a week-long negotiation with a Chinese team. The American team informs the Chinese team upon arrival that they will need to complete the contract negotiation by Friday to return to the United States by the weekend. The Chinese team invites the American team to lunches, tours of Shanghai, and dinner events throughout the week. By the middle of the week, the American team becomes quite frustrated that they have not made any progress with the negotiation. On Friday, the Chinese team leader escorts the American team to the airport for their departure flight. The American team leader decides to complete the negotiation with the Chinese leader en route to the airport so they will return to the US with a signed contract.
What happened? Which team did better in the negotiation? Did the approach by the American team work to their benefit?
Learn how to effectively negotiate and build relationships with China and with countries you are working with around the world with a cultural training session. Understanding how to effectively work with other cultures can save employees and organizations time and money.