Negotiation during A Crisis: Possible Problems and Three Suggestions for SME Leaders

Abstract

Negotiation skills are essential for everyone especially business leaders to agree on how to share a limited resource, create mutual benefit and avoid conflicts in crisis. In this recent coronavirus outbreak, the Chinese government is encouraging people to stay at home as much as possible, prohibiting any gathering activities, and forcing some businesses to close. Therefore, this paper will use data analysis, case study and investigation for a small garment processor enterprise to indicate the problem about capital chain rupture and loss of profit from macro to micro perspectives. From the second half of this paper, there are three suggestions including preparation, adjustment of emotions and some common tactics for SMEs to use in negotiation in crisis.