INDIAN NEGOTIATION STYLES Thesis Example | Topics and Well Written Essays - 750 words

INDIAN NEGOTIATION STYLES - Thesis Example destination for most investors a factor confirmed by the current trend where the country is ranked the third most attractive market for FDI globally (Low, 2010). With the flow of FDI there comes an immediate need for investors to create a rapport with the local business people, the government and in entirety local stakeholders. Otherwise, the chances of failure for a new entrant increase with every breakdown of new negotiations. Weiss (2008), brings to the fore the importance of international business (IB) negotiations. He cites that the numbers of IB negotiations have exploded in the past decade and there is clear evidence that they are not about to abate. At the same time, Weiss (2008), points that IB are not as straight forward due to the presence of existent nuances on how people behave, often represented by culture. In light of these differences, it becomes very important that a negotiating party understands the differences to avoid misunderstanding and thus build mutually benef icial relationships. The identification of India as the next frontier of development has helped draw a lot of attention to the emerging economy. At the same time, those who have taken time to study the economy realize that Indians are a highly cultural people whose cultural tenets dictate every activity they undertake. These cultural nuances are evident even in business negotiations. Based on studies such as those by Low (2010) and Cellich and Jain (2012) it is clear that culture takes on a very critical role in international business negotiations. It is thus very important for every business to immensely invest in understanding the other party’s culture to ensure a positive influence. The urgency to study a foreign culture increases especially when there are clear differences on the approaches, views and cultural cues. This can be said to be the case between India and the US. The latter is historically recognized as home to the world’s major investors while the former is as