Negotiating in Mexico by: Kevin Schuck, Ivan Pernudi, Nicholas Coward & Zach Lupe

Agenda Why important Culture Styles Behaviors Tactics Do’s and Don'ts

Culture – Business Climate/Conditions – Enthusiasm – Flexible with Time – Business Attire – Intimate Space

Culture Business Processes – Power Distance – Managerial Style U.S. Managerial Arrogance – Decision-Making – Uncertainty Avoidance

Culture Trust – Personal Relationship – Mutual Acquaintance – Social Talk – Teamwork

Culture Workplace – Women Abrazo (embrace) – Sexual Harassment – Work Ethic Mañana Syndrome – Masculinity

Culture Government – Caste System – Economy – Legal System – Corruption Foreign Corrupt Practices Act

Styles: Negotiation In Mexico Win-Win Approach – Collaboration Generally Straightforward – Non-aggressive Time is not of the essence – Relationship building is very important Risk Averse – Less is more

Behaviors: Negotiation In Mexico Emotional – Don’t be surprised or offended by exaggerations Very formal – Etiquette or the lack of is key Non-confrontational – Yes may mean no Your comfort zone is not their comfort zone – Expect a smaller bubble

Tactics: Negotiation In Mexico The final, final, final offer – Final offers are rarely final and come frequently Leave a lot of room for concessions – Be prepared to go the full 12 rounds Playing possum – Misleading body language and disinterest should be expected No good cop-bad cop – Relationships can be destroyed by this tactic

Do’s and Don’ts Relationship and Respect Communication Meetings Negotiation Contracts Other

Relationship and Respect Build Lasting and Trusting Personal Relationships Working relationship People, Not Companies Family Owned or Controlled

Communication Language Space Direct & Indirect

Meetings Individuals or Teams Hierarchy Scheduling Introductions

Negotiations Attitudes and Styles Sharing of Information Pace of Negotiation Bargaining Decision Making

Contracts Written Contracts Final Contracts

Other Attire Dinners Documents Gifts