Search for equilibrium of negotiating powers in business negotiations under conditions of globalization (case monopsony)

Abstract

When market competition is more or less distorted, business negotiations face certain challenges. This can happen in various market conditions. Distorted competition affects the balance of negotiating power between negotiating parties and, eventually, the outcome of negotiations. This often affects both buyers and sellers. Such situations open great opportunities for international business relations as new market participants can create additional alternatives for companies and organizations or other business entities by reducing the negative impact the distorted competition makes on the balance of negotiating power between negotiating parties. 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 negotiating power. The object of the research is the search for balance of the negotiating powers at international business negotiations under distorted market competition. The scientific problem is that negotiation theory lacks measures to assess and balance 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, as well as the opportunities for their adequate evaluation and configuration, which affects the conduct and performance of international business negotiations.