Beyond Borders: Developing Best Practices for Swiss-South Korean Executive Negotiations

In today's globalized business environment, cross-cultural negotiations are becoming increasingly important. Despite their cultural differences, Switzerland and South Korea maintain close business relationships that require effective negotiation strategies. This bachelor thesis examines the dynamics of these negotiations and develops best practices for Swiss and South Korean executives.

The primary goal of this thesis is to develop best practices to help Swiss and South Korean executives negotiate successfully with each other. The research focuses on understanding how cultural differences affect negotiation dynamics, identifying key behaviors to avoid, and creating practical guidelines for novice negotiators to improve their negotiation skills.

The research methodology includes a detailed literature review and qualitative research. The literature review analyzed existing theories on culture and negotiation, such as Hofstede's Cultural Dimensions and Fisher & Ury's Principled Negotiations. As part of the qualitative research, interviews were conducted with Swiss and South Korean executives who have experience with cross-cultural negotiations.

The research revealed a number of best practices for Swiss and South Korean executives. Important aspects for Swiss leaders include effective communication, relationship building, strategic preparation, adaptability and ethical behavior. For South Korean leaders, the focus is on effective communication, thorough preparation, cultural sensitivity and strategic time management. The study shows that while cultural differences have an impact on negotiation dynamics, similarities in business culture and the use of local partners can mitigate this impact. The study also highlights behaviors that should be avoided from a Swiss and South Korean perspective to ensure successful negotiations.

The paper concludes that applying these best practices can significantly increase the success rate of cross-cultural negotiations. It also emphasizes the need for further research, especially from a South Korean perspective, to gain a deeper understanding of these dynamics.