The negotiating process

After small talk to establish a good rapport, both groups normally present their opening position. However, strategies and tactics have been prepared and there is usually room to maneuver. Parties will prepare an ideal position but will be prepared to make concessions and move to a fallback position to meet the required conditions. Proposals and counter-proposals will be made as part of this process. It may also be necessary to identify and overcome obstacles to a settlement. After a great deal of bargaining or haggling, both parties should compromise without losing face. Finally, a deal will be reached and a contract will be signed.

GLOBALISATION

Although the term globalisation has become a buzzword with different meanings to different people, there does not appear to be any precise, widely-agreed definition. Most agree it refers to the increasingly rapid movement of goods, services, capital, people and information around the world. Much of this increased pace has resulted from technological advances such as the Internet. However, the most common or core sense of economic globalisation surely refers to the observation that in recent years a quickly rising share of economic activity in the world seems to be taking place between people who live in different countries (rather than in the same country). This growth in cross-border economic activities takes various forms:

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