Negotiate a business transaction


The case study scenario:

If you were preparing to negotiate a business transaction and the counterpart is someone with whom you hope to have future business, how would you determine the relative importance of your goals?

Goals would be divided into short-term; using a strategy of perhaps allowing the counterpart to "win" the initial negotiations, to assist with long-term goals of securing repeat business. The short-term goal is vital to future success. Perhaps the focus will be letting the counterpart believe they have "won" negotiations. Upon shifting to long-term business, the goal will be to showcase customer service and what benefits are derived from continued dealings.

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Finance Basics: Negotiate a business transaction
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