In a global economy, it’s a mistake to assume that negotiation strategies are a one-size- fits-all proposition. Understanding the culture of the parties you are negotiating with is vital in order to establish a successful business
“Negotiation relies so much on the ability to read a situation and adapt on the fly to the cues that are there,” says David Livermore, executive director of the Global Learning Center in Grand Rapids, Mich., and author of “Leading with Cultural Intelligence: The New Secret to Success.”
With increasing globalization, cultural intelligence becomes only more critical to business success. Livermore points to a study done by The Economist which found that 90% of executives from more than 60 countries said cross-cultural leadership was their top management challenge . “It’s important for any business individual from support services all the way up the chain, but especially for a leader who is trying to figure out how do we strategize to remain competitive in a global economy. … A leader in particular has to be able to adapt on the fly,” he says.
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