Building Intercultural Trust at the Negotiating Table

Sujin Jang and Roy Chua

Chapter 17 in Negotiation Excellence:Successful Deal Making, 2014, pp 293-307 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In 1988 Komatsu, Japan's leading construction-equipment manufacturer, and Dresser, a giant in the American energy industry, combined their resources in a joint venture. The partnership was seen as a match made in heaven; the companies expected it to create what they called “a mountain of resources” for both sides. But as talks progressed, it became increasingly difficult for Dresser and Komatsu to stay on the same page, let alone to trust each other. As conflict escalated and trust faltered, the joint venture's market share plummeted and 2,000 employees were fired. Ultimately, in 1994, the partnership was dissolved. The experience of Komatsu and Dresser is not rare. The business world bristles with stories of intercultural negotiations gone wrong…

Keywords: Negotiation; Persuasion; Trust Building; Judgment Bias; Decision Making; Renault–Nissan Alliance; Arcelor and Mittal Steel Merger; Kraft Foods; Cadbury PLC; Walt Disney; Komatsu; Dresser (search for similar items in EconPapers)
Date: 2014
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