The search for balance and equilibrium of negotiating powers under distorted market competition

Abstract

Free market economy challenges business negotiations due to occasional distortions in market conditions, which impact the balance of negotiating powers. This is most commonly referred to both buyers and sellers. Reducing the negative impact of the distorted competition opens great opportunities for international business relations as new market participants can create additional alternatives for organizations trying to reach the balance of negotiating powers. The assessment of the negotiation powers of the negotiating parties is crucial for the development and implementation of effective international business negotiation strategies in order to make the best use of the negotiation potential. The purpose of this article is to fully explore the current theory and practice of the development and implementation of negotiating strategies under distorted market competition, as well as to reveal development opportunities of these strategies in cases of monopsony, oligopsony and monopoly. The object of the research is to find a way to achieve the balance of negotiating powers at international business negotiations under distorted market competition. The scientific problem is that theory of negotiations is lacking in measures for assessment and balancing the negotiating powers of negotiation participants under distorted market competition. The goal of the article is to identify the key elements for determining the balance and equilibrium of negotiating powers at international business negotiations. Also it is important to find the opportunities for adequate evaluation the key elements, which affects the performance of international business negotiations.