Wyoff And ChinaLuQuanThe Wyoff And ChinaLuQuan
Wyoff and China-LuQuan
The Wyoff and China-LuQuan negotiations are an example of pitfalls of negotiating a deal with a culturally disparate organization. The relationship between the Wyoff and China-LuQuan organization suffered from inception. Several considerations were overlooked by the Wyoff organization when attempting to structure a deal with their Chinese counterpart. Chin-LuQuan’s lack of understanding of the Wyoff organization and their negotiating techniques deteriorated the situation even further. The relationship between Wyoff and China-LuQuan suffered initially during the “caxtalene” negotiations due to the fact that CLQ considered the majority of Wyoff’s early decisions disrespectful. The issues began with Wyoff sending juniors managers to discuss what CLQ considered a major contract. This oversight lead CLQ to believe that the Wyoff organization did not have any respect for CLQ and that Wyoff was not sincere in their interest of working with CLQ. The Initial offer presented by Wyoff was just as damaging to early negotiations, asking for 80% equity share added to the feelings of disrespect. Those actions only led CLQ to infer that Wyoff was not interested in a long standing relationship with CLQ but a quick financial windfall solely for their own benefit. CLQ’s negotiating party views a negotiation as an agreement between friends, while Wyoff’s negotiating team had a going into battle approach. The damage to the relationship caused by several major disconnects caused both parties stop listing to each other’s concerns. The damaged relationship between Wyoff and CLQ was evident during the AD/CE product slate negotiation. Wyoff refused to take in to account the value of developing a good relationship with CLQ, showing that they refused to learn from past mistakes. Wyoff once again did not take time to understand the Chinese process for negotiation. Wyoff completely dismissed the hospitality of the CLQ delegation upon their
The Wyoff and China-LuQuan negotiations are an example of pitfalls of negotiating a deal with a culturally disparate organization. The relationship between the Wyoff and China-LuQuan organization suffered from inception. Several considerations were overlooked by the Wyoff organization when attempting to structure a deal with their Chinese counterpart. Chin-LuQuan’s lack of understanding of the Wyoff organization and their negotiating techniques deteriorated the situation even further. The relationship between Wyoff and China-LuQuan suffered initially during the “caxtalene” negotiations due to the fact that CLQ considered the majority of Wyoff’s early decisions disrespectful. The issues began with Wyoff sending juniors managers to discuss what CLQ considered a major contract. This oversight lead CLQ to believe that the Wyoff organization did not have any respect for CLQ and that Wyoff was not sincere in their interest of working with CLQ. The Initial offer presented by Wyoff was just as damaging to early negotiations, asking for 80% equity share added to the feelings of disrespect. Those actions only led CLQ to infer that Wyoff was not interested in a long standing relationship with CLQ but a quick financial windfall solely for their own benefit. CLQ’s negotiating party views a negotiation as an agreement between friends, while Wyoff’s negotiating team had a going into battle approach. The damage to the relationship caused by several major disconnects caused both parties stop listing to each other’s concerns. The damaged relationship between Wyoff and CLQ was evident during the AD/CE product slate negotiation. Wyoff refused to take in to account the value of developing a good relationship with CLQ, showing that they refused to learn from past mistakes. Wyoff once again did not take time to understand the Chinese process for negotiation. Wyoff completely dismissed the hospitality of the CLQ delegation upon their