Question : What is the best course of action to take when you and your counterpart are a little unclear about the terms of your final agreement? Instruction: Choose the option that best answers the question. Shake hands on the deal. Explain to your negotiating counterpart that this agreement is favorable to everyone. It's taken too much time and effort to reach an agreement to risk unraveling it before it's even signed. Inform your negotiating partner that you now have to bring the deal back to your company's management for sign off. Use this pretext to get your counterpart to provide a detailed description of what they believe they are signing up to. Decline to sign the deal until after both parties have engaged in a period of reflection designed to confirm that the agreed proposals match their understanding and intention. Reconvene at that stage to accept or reject the deal.
Question : What is the best course of action to take when you and your counterpart are a little unclear about the terms of your final agreement? Instruction: Choose the option that best answers the question. Shake hands on the deal. Explain to your negotiating counterpart that this agreement is favorable to everyone. It's taken too much time and effort to reach an agreement to risk unraveling it before it's even signed. Inform your negotiating partner that you now have to bring the deal back to your company's management for sign off. Use this pretext to get your counterpart to provide a detailed description of what they believe they are signing up to. Decline to sign the deal until after both parties have engaged in a period of reflection designed to confirm that the agreed proposals match their understanding and intention. Reconvene at that stage to accept or reject the deal.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
:
What is the best course of action to take when you and your counterpart are a little unclear about the terms of your final agreement?
Instruction: Choose the option that best answers the question.
Shake hands on the deal. Explain to your negotiating counterpart that this agreement is favorable to everyone. It's taken too much time and effort to reach an agreement to risk unraveling it before it's even signed.
Inform your negotiating partner that you now have to bring the deal back to your company's management for sign off. Use this pretext to get your counterpart to provide a detailed description of what they believe they are signing up to.
Decline to sign the deal until after both parties have engaged in a period of reflection designed to confirm that the agreed proposals match their understanding and intention. Reconvene at that stage to accept or reject the deal.
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