Download - Negotation Presentation
SINGAPORE
Vyshakh DasAvinash Choudhary
Flag Description
Red denotes brotherhood and equality; white signifies purity and virtue; the crescent moon symbolizes a young nation on the ascendancy; the five stars represent the nation's ideals of democracy, peace, progress, justice, and equality.
Impact of Geography and History
Singapore is a small island open economy Dependent on services and hi-tech industries This influences the culture of Singaporeans Makes them less risk averse and conservative More disciplined and hard working Influences their biz style and negotiation styles
Land and People 77% Chinese, 14% Malay, 8%
Indians.
The people of Singapore are
predominantly Chinese.
With large Malay and Indian
minorities.
Buddhism, Islam, Hinduism and
Christianity are principal
religions.
Malay, Tamil, Chinese and
English are the languages
spoken here.
People here are friendly and
lively.
METHOD OF GREETING
Greeters slide their palm together back towards their own chests, then end with the hand over their heart.
Relationship and Respect
Group-Oriented
Business relationships mostly exist between individuals rather than companies
“Saving face”
Values include humility, experience and team spirit
Way of Negotiation
Speak in quiet, gentle tones1. Silence during conversations does not
have a negative meaning Be indirect1. Being direct is considered rude or pushy What does “yes” or “no” mean? 1. “Yes” does not mean they agree with
you, only that they heard you2. “No” means they are not interested
Negative messages can be delivered through a third party (“saving face”)
Non-verbal communication is important1. Avoid physical contact except for handshake2. Do not touch their head! 3. Point with the hand, not with a finger4. Sucking in air means there’s a problem5. Too much eye contact is considered rude and intrusive6. Avoid facial expressions that express disagreement
Laughter may be used to hide embarrassment, shyness, disapproval, and distress
At the Negotiation Table
Talk to the person at the right level ( Decision making can be slow or impossible )
Coming with unorthodox new ideas will take some convincing ( Uncharted territories need one or the other govt. approvals )
Ask where you should sit or wait to be seated
Carefully try to establish who makes the decisions
Be well prepared and establish expectations level at the start
Example of Negotiation
EU and Singapore conclude investment talksThe European Union (EU) and Singapore have concluded the negotiations of the investment part of the EU-Singapore Free Trade Agreement (EUSFTA). This marks the successful conclusion of the negotiations of the entire EUSFTA, following the initialling of the other parts of the agreement in September 2013.
Next stepsNegotiations on investment protection had started later based on a new EU competence under the Lisbon Treaty and have only now been completed.The Investment Protection Chapter will now undergo legal scrubbing before both sides will formally finalize the negotiations. After the agreement has been translated into all official EU languages the agreement will be signed and ratified by both parties.
References
http://geert-hofstede.com/singapore.html
http://www.globalnegotiationresources.com/cou/Singapore.pdf
http://www.executiveplanet.com/index.php?title=Singapore:_Let%27s_Make_a_Deal%21
http://trade.ec.europa.eu/doclib/press/index.cfm?id=1164
http://www.leadershipcrossroads.com/mat/cou/Singapore.pdf