You're listening to Business English Pod, the Business English podcast for professionals on the move.
Hello, and welcome back to Business English Pod.
My name's Edwin and I'll be your host for today's lesson on successfully completing a strategic negotiation.
Negotiating a strategic partnership can take a lot of time and energy.
And if you succeed, you need to cement that new partnership and make sure it gets off to a good start.
So, whether you kick off your new arrangement with a party, a ceremony or a meeting, you need to acknowledge the people and all the hard work that went into building the relationship.
So what might you do to cement a partnership?
Well, today we'll learn how to show enthusiasm for a new partnership and how to compliment a new partner.
We'll also look at how to emphasize both opportunities and expectations.
And finally, we'll learn how to make a toast.
In the dialogue we'll hear representatives of two companies at a reception to start off a new partnership.
Representing the auto parts company called Sigma is Mike, the lead negotiator on the new partnership, and Grant, a company executive.
We'll also hear Lisa, who represents MVP, the Japanese distributor that has just partnered with Sigma to sell auto parts in India.
As you listen to the dialogue, try to answer the following questions.
One, how does Lisa complement Sigma?
What is she impressed by?
2.
What does Lisa expect in order for all the hard work to pay off?
3.
At the end of the dialogue, Grant makes a toast.
What does he make a toast to?
Well, I must say this has been a long time in the works and we're very happy to have you here with us today.
Thanks, Grant.
I'm happy to see all this come together too, and I believe the future is very bright for this venture.
Yes, indeed.
And I'd like to echo that sentiment.
As you all know, Sigma has been working hard to build our overseas distribution.
And good partnerships are key to that.
I know that Mike and Lisa, you've had your noses to the grindstone putting this together.
So would you like to say a few words?
After you, Lisa.
Thanks, Mike.
Yes, well, Grant, you brought up good partnerships.
And I have to say that we're really impressed with your facilities here and your people.
Mike, I think you used the word synergy before, and I think that's exactly what we have here.
Definitely.
And I think that synergy applies not just to products, which we've talked a lot about, but also to our processes and our people.
I couldn't agree more, Lisa.
I think together, NVP and Sigma are in a great position to capture a big part of a really exciting market.
India represents a unique opportunity, and I'm personally very eager to get over there myself and get this off the ground.
That's great to hear, Mike.
I'm quite sure that if we both put the right resources and enough energy into this, we'll see all our hard work pay off.
Well, we're certainly looking forward to hitting the ground running and proving you right.
I'll second that.
And I think a toast is in order.
So, here's to a long and fruitful partnership.
Cheers.
Cheers.
Cheers.
Now let's go through the dialogue again and look at the language and techniques the speakers used to cement their partnership.
Well, I must say this has been a long time in the works and we're very happy to have you here with us today.
Thanks, Grant.
I'm happy to see all this come together too, and I believe the future is very bright for this venture.
Since the reception is happening at Sigma's offices, Grant needs to welcome his guests and new partners.
One great way to welcome people is to say how happy you are to have them, and this opens the door for Lisa to speak next.
Lisa thanks Grant and echoes his happiness, saying that she is happy to see it come together or finally work out too.
She goes on to say that the future is very bright for their venture or partnership.
Saying the future is bright is saying that it is positive and that very good things will happen.
And to talk about the future in this way.
Expressing happiness and optimism shows great enthusiasm, which helps start off the partnership nicely.
Let's practice some more ways to show enthusiasm for a partnership.
You'll notice adjectives like excited and glad and perfect, which show positive feelings.
We are certainly very excited to move forward together.
I'm so glad that we found a way to make this new venture happen.
It's a great pleasure to be here to kick off this new partnership.
I really think we've found the perfect match for our overseas activities.
How does Grant respond to Lisa's enthusiasm?
Yes, indeed.
And I'd like to echo that sentiment.
As you all know, Sigma has been working hard to build our overseas distribution.
And good partnerships are key to that.
I know that Mike and Lisa, you've had your noses to the grindstone putting this together.
So would you like to say a few words?
After you, Lisa.
Grant says he'd like to echo that sentiment, which basically means I have the same feeling or idea.
Grant then shows enthusiasm in his own way, emphasizing how important good partnerships are for their business, before acknowledging the hard work that Mike and Lisa have done in negotiating.
In this kind of formal situation, it's very important to acknowledge the people that have helped to make it happen.
Grant then invites them to speak, and Mike politely allows Lisa to speak first by saying, after you.
So, what does Lisa have to say?
Thanks, Mike.
Yes well Grant, you brought up good partnerships and I have to say that we're really impressed with your facilities here and your people.
You will notice that Lisa also echoes something that Grant brought up or mentioned.
In the back and forth of a formal situation like this, it's common to repeat what others have said, to acknowledge and build on it.
And Lisa adds that she's impressed with the facilities and people.
This is her way of complimenting her new partners, which can really help to cement the relationship.
What are some other ways of complimenting a new partner?
Well, try focusing on how good the company and its people are.
Let's try a few more examples.
I must say it's amazing what you guys have done over the past 10 years.
I can't imagine a more innovative and adaptable company to work with.
It's really no wonder why you guys are the leader in the industry.
Your entire organization is top-notch, from leadership right on down to the factory floor.
Now, let's hear Lisa continue with her speech.
Mike, I think you used the word synergy before, and I think that's exactly what we have here.
Definitely.
And I think that synergy applies not just to products, which we've talked a lot about, but also to our processes and our people.
Notice that Lisa is echoing a word that Mike used before this event.
Once again, using the words of the people you're talking to makes them feel acknowledged and understood.
The word she uses is synergy, which is what we call a situation when two things companies or people combine to become even better.
By talking about synergy, Lisa is keeping the discussion positive and further cementing the relationship.
So, what does Mike say when it comes time for him to speak?
I couldn't agree more, Lisa.
I think together, NVP and Sigma are in a great position to capture a big part of a really exciting market.
India represents a unique opportunity, and I'm personally very eager to get over there myself and get this off the ground.
Mike starts by agreeing with Lisa.
He then chooses to focus not on the companies or partners, as Lisa has already done, but on the opportunity.
And he uses more positive expressions to do this, such as in a great position, really exciting market and a unique opportunity.
When you're cementing a partnership like this, it's a good idea to mention what you've come together to do.
Emphasizing the opportunity, especially in such positive terms, helps to start things off right.
Let's practice some more positive ways of emphasizing a partnership opportunity.
We have a really great chance here to build on our individual successes.
This is the perfect time to get in on the consumer market.
Malaysia is growing rapidly and together the potential is huge for us.
How does Lisa respond to Mike's talk about the great business opportunities?
That's great to hear, Mike.
I'm quite sure that if we both put the right resources and enough energy into this, we'll see all our hard work pay off.
Lisa still sounds very positive, but she's actually subtly emphasizing her expectations of her new partner.
Lisa says the partnership will pay off or bring benefits if both companies spend the right resources and energy.
By using that if, Lisa is showing that their success is still conditional.
And in an indirect way, she's saying to Sigma you'd better put the right resources and energy into this.
Of course, she can't say that directly.
She needs to put it in positive terms and say that she's sure it will happen.
Though you might notice she says quite sure, which is not 100%.
It takes skill and subtlety to emphasize your expectations in this situation.
So let's try some more examples.
Remember, we can say if something happens or with something, and we also use different ways of saying how sure we are of the future.
Let's practice.
I'm very hopeful that we can both make this a top priority in the coming year.
With the right commitment, I'm sure our companies will benefit enormously.
If everyone works as hard as they have during negotiations, we should be successful.
Partnerships are not easy, but with the right follow through, I'm sure we'll have a great relationship.
Let's get back to the dialogue.
Well, we're certainly looking forward to hitting the ground running and proving you right.
I'll second that.
Grant responds to Lisa's expectations by showing excitement to hit the ground running, which means to start with energy and enthusiasm.
And Mike seconds the idea, which means he agrees.
Now, there's one final thing for Grant to do at this little ceremony.
And I think a toast is in order.
So, here's to a long and fruitful partnership.
Cheers.
Cheers.
Cheers.
Grant thinks a toast is in order or necessary.
Toast is not breakfast food in this situation.
A toast is when we all raise a glass, usually of alcohol, and drink together to wish someone or a venture well.
So how does Grant make this toast?
He says, here's two, and then what he wants to toast.
In this case, that's a long and fruitful or productive partnership.
And he finishes with cheers, which is a common one word toast in English.
And how do you respond to a toast?
Well, you can say exactly the same as Lisa does by saying cheers.
So what are some other common ways to make a toast?
Let's run through a few more examples.
So please raise your glasses to the start of a great new venture.
May the next year be one of great success.
Here's to a job well done and a great partner.
I'd just like to say that we're delighted to be a part of this.
Cheers!
Well, it certainly sounds like the new partners are excited to start their new venture in India and build on the great start to their relationship.
We've heard them talk positively about each other, about the partnership, and about the opportunity.
Now let's practice some of the language we've learned in today's lesson.
We're going to start with a role play practice.
Imagine you work for a web marketing company that has just made a new partnership with a print marketing company.
Together, you'll be able to offer complete marketing services.
Now imagine you're at an event to start off this new partnership with someone from the other company.
You'll start by showing enthusiasm, Then you'll compliment your partner, emphasize the opportunity and expectations and finish by making a toast.
At each step, you'll hear a prompt spoken by the other person.
Then I'll give you some suggestions for the language you can use.
We'll guide you through each step in the practice and play an example answer for each response.
Ready?
Let's give it a go.
It's so great to have you all here with us today.
Start by showing enthusiasm and saying that you're very excited about the new partnership.
Answer.
Yes, well, we're certainly excited about this new partnership.
Indeed, I share your excitement, and I'm glad we could make this deal happen.
Now, compliment them by saying you feel they are the leader in the industry.
Answer.
Well, we really feel that you're the leader in the industry.
Well, thank you, we have worked hard to get to where we are now.
Say that together, your hard work will provide a complete marketing package.
Answer and together, our hard work can provide a complete marketing package.
That's exactly what we have been hoping to do for the past two years.
Now, say that if each side commits the right resources, it should be successful.
Well, I believe that if each side commits the right resources, we should be successful.
We certainly plan to do everything possible to succeed.
Now, finish off by making a toast to success and the new partnership.
Answer.
So then, here's to success and a new partnership.
Now, let's practice some of the vocabulary and collocations we've covered in this lesson.
In a moment, you'll hear a series of sentences with a word replaced with a beep.
Repeat each sentence, including the missing word.
For example, if you hear, You can say I think we have a unique opportunity to build a great business.
After each response, we'll provide the correct answer.
Let's begin.
Let's make sure we've done our research so we can hit the ground running.
I need a holiday because I've had my nose to the for three months.
I need a holiday because I've had my nose to the grindstone for three months.
Now I'd like to ask our CEO to say a few on behalf of the company.
Answer.
Now I'd like to ask our CEO to say a few words on behalf of the company.
Answer.
Economists agree that the future is bright for the green energy sector.
We've reached the end of this lesson, the sixth and final part of our series on strategic negotiations.
We've learned how to show enthusiasm for a new partnership, compliment a partner and emphasize the opportunity and your expectations.
We've also learned how to make a toast.
Thanks for listening and see you again soon.
