Write about a negotiations-related topic. The purpose of this project is to explore one of the topics that has been discussed in this course in more depth. This will allow you to apply the concepts learned in the course and also to demonstrate your understanding of key negotiation topics. For instance, you might decide to describe and analyze a particular real-life negotiation (Middle East peace negotiations or a major merger and acquisition negotiation, for example) or research any topic of particular interest to you, such as cross-cultural negotiation styles, the importance and impact of nonverbal communication, gender differences, or negotiation styles, for example.
The final Portfolio Project should be 6-8 pages in A particular real-life negotiation length. This does not include the required cover page and reference page. A cover page, abstract, in-text citations, and a reference page are all required with your submission. In addition, you need to cite a minimum of five scholarly sources. Your paper must be formatted according to APA Requirements. References A particular real-life negotiation
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Abstract
In this paper, cross-cultural negotiation is considered. Negotiation is an important component of any business transaction. However, culture acts as a barrier to effective negotiation by impeding the communication process. First, negotiation is defined briefly. Then, culture is discussed in the context in which it affects business. Subsequently, the two topics are integratedand discussed in two particular ways. The first involves looking at Hofstede’s five-dimension model of culture and the effect of this model on the negotiation process. Moreover, other issues around culture such as language are assessed, with a view of establishing how the same affect the negotiation process. Finally, the paper sums up with a conclusion that recaps on the main points discussed.
Integrated
Introduction
Business has grown tremendously over the past decades and many organizations now engage in investments and activities that extend beyond the boundaries of their traditional domains of operation. This growth has particularly been precipitated by saturation of the traditional markets, thereby necessitating an expansion into new markets. Moreover, this growth has further been catalyzed by milestone improvements in infrastructure, and drastic advancements in technology, particularly information technology. Such milestones enable organizations to reach new potential markets in record time despite inhibitive geographical barriers. One of the most notable consequences of this increased globalization is an increase in global corporations, whose operations span nearly all continents.
As a consequence of these global corporates, one of the most pertinent issues in today’s dynamically global business world is cross-cultural interactions. Cross-cultural interactions affect business negotiations by their effect on the communication process. Effective communication is an essential ingredient in the negotiation process since for individuals to negotiate, they must first be able to understand what each party has to offer. Consequently, a cross-cultural negotiation makes for an interesting topic of study, owing to the current and future implications that effective cross-cultural negotiation has for businesses.
Understanding Cross-Cultural Negotiation
In order to understand cross-cultural negotiation as a topic, it is important to understand the terms negotiation and culture. Negotiation is a process where two or more parties engage in discussions aimed at reaching a mutually satisfying conclusion involving both parties. This does not however mean that negotiations leads to a mutually satisfying endpoint. However, where this is the outcome, then one can consider the negotiation process a successful one. Hofstede, Jonker, & Verwaart,provide a definition of negotiation as “complex emotional decision-making process aimed at reaching an agreement to exchange goods or services” (2012, p. 83). From this definition, we can interpret the exchanged goods or services as the mutually satisfying conclusion that the negotiation process portends to arrive at. As the parties engage in the negotiation process, there are a lot of offers, counteroffers and concessions involved in the process (Phillips & Gully, 2011) with each party trying to secure the most lucrative outcome.
Negotiation may involve two or more parties that are interested. Moreover, it may also involve more than two parties whereas one of the other parties is not an interested one, but one who facilitates the negotiation process. Facilitation may be in the form of mediation, interpretation or translation.
There are essentially two types of negotiation. These are distributive negotiation and integrative negotiation (Phillips & Gully, 2011). Distributive negotiation is also referred to as competitive or win-lose negotiation (Engle, Elahee, & Tatoglu, 2013) and it involves a loss by one party in order to offset a gain by the other. Integrative negotiation, however, is also referred to as win-win negotiation, where there is no loss occasioned to either of the parties at the conclusion of the negotiation process. Engle, Elahee, & Tatoglu describe this type of negotiation as problem-solving negotiation (2013). Win-win negotiation is consideredbetter than distributive negotiation since at the end of the negotiation process, neither of the parties feel that they have lost.
Having understood negotiation, it is also important to understand the term culture. Culture has to do with the sharing of a set of norms and beliefs. The most basic precept underpinning culture is uniformity (Ismat & Bashir, 2011). This implies that individuals of a particular culture have similarities in their tendencies that are significantly different and distinguishable from those of others of another different culture. The culture of a particular population is a sum of their beliefs rather than a mere outcome of their interactions. It is part of their life, and is usually explicated in their day-to-day interactions. From these interactions with each other as well as with the environment, culture continues to grow and become more advanced and more refined. There are many aspects of culture. However, some of the most basic and most important distinguishing factors of culture include language, values, attitudes, religion, customs and norms (Rugman & Collinson, 2012). These factors form the basis of cultural identity. Usually, they also constitute the point of distinction and the source of conflict.
Culture is an important and highly significant aspect for the success of any organization, especially those operating at an international level. Culture affects businesses in two principal ways. These ways are derived from the two types of cultures affecting business organizations. The first is the culture external to the business while the second is the organizational culture of the particular organization. In the first instance, the organization must find ways of successfully maneuvering the culture of its stakeholders. The second instance however has to do with the organization’s established internal culture and the manner in which this culture will interact with that of other organizations.
For multinational corporations, culture is important to their success……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..
A particular real-life negotiation
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