Multi-party Negotiation in International Joint Ventures
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Definition
According to the negotiation concept, multi-party negation is defined as a negotiation where more than two parties resolve issues related to a global business (Blasi and Bair 2019). Multi-party negotiation is highly applicable to the global market.
Summary
Blasi and Bair (2019) researched the international supply chain agreement in global joint business ventures. There are four categories of multi-party agreements (Blasi and Bair, 2019). The categories include comprehensive agreements among industries, thematic agreements designed for workers’ rights, global framework agreements, and remediation agreements. Focused on the global framework agreements, multi-party negation reaches the international venture level because its characteristics are to expand and strengthen the global market instruments. The relevancy of the article to the topic of discussion is absolute because pricing as used in the global supply chain models is similar to how it is applied in the international multi-party business negotiations. The article concludes that mutual financial benefits come with multi-party negotiation in international supply chain activities. Besides, it gives insights relevant to the application of multi-party negotiation concerning the incentivization of financial support for decent labour standards.
Analysis
The article’s selection is based on its ability to articulate multi-party bargaining models, which are highly applicable to the global supply chains and directly connected to the topic of negotiation -multi-party negotiation in international joint ventures.
The writers are compelling when explaining issues related to multi-party negotiation in the global framework agreements in a joint global venture such as in the international supply chain agreements.
(Blasi and Blair, 2019) is easy to understand because every aspect of multi-party negotiation; that is, bargaining and agreement are presented in the image of global ventures; therefore, it is easier for the reader or a scholar to do more research on the same.
The authors are very distinctive in concluding the study. In other words, the conclusion was made based on the objectives of the study that were not off the main topic of multi-party negotiation in the international joint venture, and that is my opinion about them.
The conclusions made in the study very distinctive. In other words, the conclusion was made based on the objectives of the study that were not off the main topic of multi-party negotiation in the international joint venture. The civil societies give support supply chain standard settings that multi-party negotiations depend on.
The authors’ explanations concerning the global supply chain models as part of international joint ventures were done exhaustively. It would make more sense compared with other studies involving multi-party negotiation and the global market.
The study used empirical qualitative techniques to prove the circumstances under which multi-party negotiation are applied; however, the study was conducted without a systematic review of other articles that studied multi-party negotiation.
I benefitted from the article by capturing suitable methods of conducting qualitative research, especially on multi-party negotiations.
Kozina et al. (2020) have a similar point of view as Blasi and Blair (2019) by unfolding the processes of globalization and technology that range from societal knowledge to information technology affect both organizational structural management and multi-party negotiations.
References
Kozina, A., Szarucki, M., and Raudeliūnienė, J. (2020). Multi-party Negotiation: Conceptual Approach of Method Selection.
Delecroix, F., Morge, M., Nachtergaelle, T., & Routier, J. C. (2016). Multi-party negotiation with preferences rather than utilities. Multiagent and Grid Systems, 12(2), 139-165.
Blasi, J., and Bair, J. (2019). An Analysis of Multiparty Bargaining Models for Global Supply Chains.