TITLE:
Negotiation Strategy to Achieve a Win-Win Result within Oligopolies
AUTHORS:
Wenbin Wan, Yuxin Jin, Yijia Sui
KEYWORDS:
Negotiation Strategies, Oligopolies, Supply Chain, Mutual Gain, Litigation, Competitive Advantages, Mergers and Acquisitions (M & A), Fundamental Goals
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.9 No.12,
December
17,
2019
ABSTRACT: Being a businessman in the modern life, globalizing has become a potential issue to consider when having business with foreign companies. To make the business easier by keeping the ideal profit and reduce the internal loss, communications has become a bridge toward mutual success. In the article, we focused the object into the oligopolies, since they are the main groups involved into the international business: for smaller firms, they have little chance to have involvement with the foreign companies; while for monopolies, they do have too much weight to influence the whole market. So the oligopolies are the best objects to study since they each has a kind of influence but no one can have the dominating right, which means they all depended on each other. And we conclude the situations into three main situations—Supply Chain, Litigation, and Mergers and Acquisitions. In other situations, companies can also use some of the strategies mentioned in the passage and should be managed specifically. We found several typical cases and had deeper analyze about these conditions. Depending on examples of these well-known companies and events, we got some interesting and common factors that they all need deeper knowledge about each other. While the communication is a tool to maximize their profit depending on their power and to reduce the cost and risk. Our group finally came up with two strategies for each of the situation, and all of us hold the opinion that enough knowledge of both companies is quite necessary. Though applied to a different formula, such as making comparation, or hiring competent advisors, or making official meetings, each form needs the baseline of both companies. Then it will be much more convenient to achieve the mutual gain. The money spent on the researches can greatly improve the efficacy by reducing the implicit cost.