Reference no: EM131272907 , Length: 9
Project Guidelines
Prepare the International Negotiations
Overview
The final project for this course is the creation of a comprehensive negotiation plan.
As more companies expand their focus to include foreign markets and suppliers, it is becoming essential for business professionals to possess the unique skills necessary to carry out international negotiations. Professionals working in international markets must adapt their negotiation strategy in order to meet the expectations of their clients.
In this project, you will choose a specific country/company pairing from the list provided in this document and use it as the foundation for your research and preparation. Using your knowledge of your chosen nation's culture, economy, and business environment, you will develop a negotiation and bargaining strategy. In addition, you will need to consider the stakeholders' interests and create a conflict management strategy to handle potential conflicts. Apply all components in order to create a comprehensive negotiation plan that you would employ when carrying out negotiations with your chosen country/company. Finally, you must create a professional paper that presents your entire negotiation plan effectively. In this project, you will present your findings and recommendations, including answers to all guiding questions, as a lead negotiator prior to traveling abroad to negotiate a deal with a foreign company.
The project is divided into four milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, Six, and Seven. The final product will be submitted in Module Nine.
In this assignment, you will demonstrate your mastery of the following course outcomes:
- Assess the influence of culture and the environment on communication and business negotiations across the globe
- Evaluate differences in strategic decision making between diverse groups around the globe for their impact in business negotiations
- Propose appropriate bargaining strategies for conducting effective negotiations with people from different cultures
- Analyze the role of stakeholder interests in international negotiations and the need to prioritize these interests in the negotiation strategy
- Employ appropriate conflict management techniques in cross-cultural negotiations
Prompt
Use the textbook and information from your individual research on one of the country/company pairings in the table below for the following prompt.
For your negotiation plan, you must create a professional paper and apply the theories and concepts from the course to interpret and formulate answers to the following guiding question: Based on the analyses conducted on your country of choice, how would you carry out negotiations with your potential business partner to ensure a successful agreement that is favorable for both parties (you and the foreign company)?
Specifically, the following critical elements must be addressed:
I. Introduction
Before analyzing specific elements of negotiations in your chosen country, you will need to be familiar with general business practices and how they differ when conducting business internationally. Analyze the following aspects of negotiations and determine how each will impact cross-cultural negotiations.
a) Verbal communication
b) Nonverbal communication
c) Decision making
II. Country Analysis
Analyze each of the following aspects of the country you have chosen and describe how each will impact your business negotiation.
a) Culture
b) Economy
c) Market in which your chosen business operates
III. Stakeholder Analysis
For the following, remember that the scope of critical stakeholders and interests may differ depending on cultural considerations. Organize stakeholders based on priority.
a) Who are the critical stakeholders involved in this negotiation?
b) What is the significance of the role of each stakeholder?
c) What are the priorities of each stakeholder?
IV. Negotiation/Bargaining Strategy
a) What bargaining strategy will you use in your negotiations with your potential business partner? Justify your approach with supporting evidence from research.
b) Why will this strategy be effective with the chosen culture/country in which the negotiation is taking place?
c) What is your Best Alternative to a Negotiated Agreement (BATNA)? How does it affect your negotiation approach with your potential business partner? How will your strategy increase the chance of a successful outcome?
V. Conflict Management Strategy
a) What conflict management strategy will you employ during cross-cultural negotiations to handle conflicts that could potentially arise?
b) How will this strategy satisfy the stakeholders and ensure no harm is caused to the business relationship?
c) Ensure the strategy is in harmony with the culture and other aspects of your chosen country.
VI. Conclusion: Summarize your chosen negotiation plan and explain why you feel it will be effective in this particular situation.
Milestone One: Introduction to Country and Culture
Milestones
In Module Two, you will submit a two- to three-page paper identifying the ways in which country-specific cultural aspects will impact the negotiation process. What are some important economic and cultural differences between your chosen country and the United States? How do natives of your chosen country perceive (in general) the American style of doing business? How do the cultural/economic characteristics of your chosen country affect the communication style, business approach, and decision-making process of your chosen country? The paper should be submitted as a Word document, written in APA style and cited appropriately. This milestone is graded with the Milestone One Rubric. The feedback provided by the instructor should be applied to your final negotiation plan.
Milestone Two: Stakeholder Analysis
In Module Four, you will submit a two- to three-page paper. Who are the critical stakeholders involved in this negotiation? What are their roles and priorities? Explain the role and position of each of the stakeholders and describe how their interests may differ depending on cultural considerations. What measures will you have to take to ensure all stakeholders will be satisfied with the outcome of the negotiation? The paper should be submitted as a Word document, written in APA style and cited appropriately. This milestone is graded with the Milestone Two Rubric. The feedback provided by the instructor should be applied to your final negotiation plan.
Milestone Three: Negotiation/Bargaining Strategy
In Module Six, you will submit a three- to four-page paper detailing the negotiation and bargaining strategy you will employ during business negotiations with your chosen country. Justify this approach with supporting evidence from research on the country and on the international negotiations strategy. Include your reasoning for choosing this strategy, including supporting research from previous milestones. Explain how the strategy will be used and how it will increase the likelihood of a successful transaction. What is your BATNA in this particular negotiation? How does the strength of your BATNA influence your approach to the negotiation? The paper should be submitted as a Word document, written in APA style and cited appropriately. This milestone is graded with the Milestone Three Rubric. The feedback provided by the instructor should be applied to your final negotiation plan.
Milestone Four: Conflict Management Strategy
In Module Seven, you will submit a two- to three-page paper detailing the conflict management strategy. Based on your research of the country's business ethics and values, how will you manage any conflicts that arise during negotiations? Describe how you will ensure no harm is caused to the business relationship.
Ensure the conflict management strategy is in harmony with the culture and other aspects of your chosen country. This milestone is graded with the Milestone Four Rubric. The feedback provided by the instructor should be applied to your final negotiation plan.