Global Leadership Blog

8 Ways to Negotiate Business Through Political Conflict (From Inc.)

 

It happened again. North Korea tested another missile–and this time it could likely hit the U.S.

The White House responded with sanctions on neighboring China in hopes that North Korea’s biggest ally will rein in Pyongyang’s nuclear weapons threat.

Meanwhile, I’m headed to Singapore–with a layover in Korea–and wondering what this all means for Singapore which condemned the missile test, especially because the Chinese and Singaporeans do A LOT of business together.

One way to keep your business thriving when making deals in countries where international relations could go awry is to do the math.  

First things first, before doing business abroad, set your budget. Decide what the financials should be and what kind of loss your business can handle in a worst-case scenario.

To read seven more ways to negotiate business through political conflict, click here.

Photo credit: Pixabay