...Global Negotiations Article Analysis MGT/445 Global Negotiations Article Analysis Globalization has brought the world closer together and almost made it a requirement for businesses to develop plans and strategies to deal with different cultures. Businesses and managers must think on a more global scale and develop a global perspective to expand their businesses. In pursuing opportunities in the global marketplace, managers increasingly engage themselves in international business negotiations (Reynolds, Simintiras, & Vlachou, 2003). In this paper, I have decided to use an article that is an example of how a business failed in their negotiations overseas. I will also analyze the implications of globalization and technology on negotiation. International Negotiation Situation Article The article chosen for this paper involves Enron and their negotiations with the government of India and the Maharashtra State Electricity Board. The project proposal was for the construction of a US$3 billion power-plant in the town of Dabhol, situated on the Indian Ocean. There were many problems with the proposed project and the negotiations process that was undertaken by Enron. World Bank, acting as a consultant to the Indian government said that the project would produce an excess capacity of electricity for years and would be too costly in comparison to the more traditional sources of fuel, such as coal, already in use ("Enron’s Indian Negotiation Debacle...
Words: 818 - Pages: 4
...Global Negotiation Article Analysis Shalee K. Kekawa MGT 445 Nov. 21, 2011 Dr. Sanrdra Sessoms-Penny Globalization and technology have played a big part in negotiations and the article that I chose to write about is just one of the many negotiations that globalization has influenced the outcome of negotiations. First, one must know what Globalization is. Globalization is a process of interaction and integration among people, companies and governments of different nations. This process has effects on the environment, on culture, on political systems, as well as on economic development and prosperity that affects societies and people all over the world. Globalization also opens up the boundaries that have existed in the past between countries and provides new opportunities for business ("Cross-Cultural Blog", 2009). Technology also plays a huge role in negotiations and just like globalization; it too has helped influence the outcome of negotiations. With the ever changing tools of technology, machines and systems, negotiations happen every day throughout the world and outcomes often happen through the use of technology. Technology makes businesses able to operate by changing relationships between suppliers, producers, retailers and customers. Gone are the days where negotiating a contract meant that you sat down face –to–face with someone and talked about contracts, and deals. Now days, a negotiation can be met and done in a matter of real time minutes. Technology...
Words: 900 - Pages: 4
...Economic globalization brings increasing communication of economy and trading among countries, and the negotiation has been the important part of international business activity in this process. The international business negotiation is not only the communication and cooperation in the economic domain, but the communication of culture among various countries. In the process of negotiation, negotiants’ idea and behavior are controlled by their own national cultures. There are large differences in thinking pattern, value view, group consciousness, negotiation style, benefit consciousness and law consciousness between western and eastern cultures, and these differences largely influence the process and result of negotiation and they are important factors we should consider in the negotiation. Keywords: International business negotiation, Cultural difference Economic globalization brings increasing communication of economy and trading among countries, and the negotiation has been the important part of international business activity in this process. The international business negotiation is not only the communication and cooperation in the economic domain, but the communication of culture among various countries. In the process of negotiation, negotiants’ idea and behavior are controlled by their own national cultures. As a developing country, China urgently needs to abstract advanced scientific technology, management mode and trading rule of developed countries in the...
Words: 657 - Pages: 3
...Article Analysis - Peace Talks Organizational Negotiations In negotiations, globalization plays a vital role in the success of any business. As a negotiator it would benefit you to understand the culture and customs of the fellow negotiator in order to have a positive outcome in the negotiation talks. I firmly believe that even though you may not be in the fellow negotiator’s own country, you must still attempt to show you are knowledgeable of their customs. In the article titled Sudan, South Sudan Prepare for Peace Talks two countries are going into negotiations over oil rich lands that cover the geographical boundaries of both countries. These negotiations/ talks need to go over so the there is a positive resolution, otherwise, in this part of the world lives could be lost. In previous times, negotiations or unsuccessful negotiations have led to war leaving over 2 million dead. Globalization in negotiations can benefit both countries to the point where they can co-exist. The problem with these negotiations is that both countries believe in the idea that they need to win and the other needs to lose. They should be more focused on a win-win resolution that involves both countries benefiting from precious, oil-rich lands. (CNN Wire Staff, 2012) In closing, the article here can show you how globalization can benefit negotiators from different countries. By accepting the customs and culture of a fellow negotiator and showing that you value their way of life, you are more...
Words: 317 - Pages: 2
...How International Expansion has affected the Business world today International Business Abstract The business world as we know it today has changed from the business world that existed when our parents were growing up. Many business leaders and companies are beginning to expand their business internationally or globally. The advances in technology, and with the use of internet, television shows and politics we see the mention of globalization everywhere. What in fact is globalization, and how has it affected the business world today? When it comes to doing business internationally or globally, there are many different factors that one must take into consideration such as language and culture barriers, negotiation of contracts and various laws concerning issues such as intellectual property rights. With all of these various factors why are companies still looking to expand internationally? How do business and companies survive with all the laws and other forces they have to contend with? This paper will discuss globalization, what it is, and what effect it has had on the business world today. It will also discuss how to overcome language and culture barriers, the various laws business owners and managers need to be aware of and how to negotiate a legal contract. Finally this paper will discuss my own ideas of marketing a professional organization business internationally, and how it would benefit the international market, along with my personal view of international expansion...
Words: 2124 - Pages: 9
...Globalization “The standardization of world culture, with local popular or traditional forms driven out or dumbed down to make way for American television, American music, food, clothes and films, has been seen by many as the very heart of globalization”. This was stated by an American literary critic, Frederick Jamerson. Globalization is the process in which a company or organization expands internationally. Globalization is not new, for thousands of years, people and corporations have been buying and selling to each other in lands at great distances. Likewise, for centuries, people and corporations have invested in enterprises in other countries. This current wave of globalization has been driven by policies that have opened economies domestically and internationally. According to Stanford encyclopedia of philosophy, since the Second World War, and especially during the past two decades, many governments have adopted free-market economic systems, vastly increasing their own productive potential and creating new opportunities for international trade and investment. Governments also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods, services, and investment. Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. A defining feature of globalization, therefore, is an international...
Words: 2833 - Pages: 12
...Making Globalization Work by Joseph E. Stiglitz Making Globalization Work Making Globalization Work By Joseph E. Stiglitz Joseph Stiglitz does not believe that Globalization is working. More than 20 years ago people believed that globalization would make everyone better off and the poorest of nations would also be uplifted. A trade negotiation for the poorest countries was called the “Uruguay Round”. [pic] Most countries that were a part of this negotiation ended up in a worse position than they were previously. These types of trade negotiations created a large distance between the richer and poorer countries. The standard should be that capitol flows from richer countries to the poorest ones. By the year 2006, it was quite the opposite. Money is flowing from poor countries to rich countries. This is due to the fact that rich countries are able to take more risks than the poor ones. The World Bank provides loans to developing countries for purposes such as, infrastructure, health, and education. Poor countries are signing debt contracts with The World Bank. The end result of these contracts is that the poor countries bear and enormous risk associated with interest rates and exchange rate votality. According to Stiglitz, this is happening in not one or two countries but many countries. Since many countries are falling victim to these contracts, Stieglitz believes it to be a systemic problem. For example, NAFTA (North American Free Trade Agreement)...
Words: 753 - Pages: 4
...Name: Course: Tutor: Date: International Management The Oil Industry The world is changing with the changes brought about by the emerging technologies. Business environment has totally changed due to globalization. Firms are operating in a highly unpredictable environment. It is difficult to determine what the future market would bring. Firms are left guessing what the emerging technologies would bring in the future market. This has forced firms trying to develop mechanisms through which the market forces can be managed in a way that would ensure a successful operation. The oil industry is one of the leading industries in the world. Business has been very good globally. This product is consumed in all parts of the world. The product has experienced a consistent increase in the international prices for the last twenty years. All industries in any given country depend on oil for the operations. The price of oil would have an impact on all other sector of the economy. This has seen this product considered very precious. The countries that produce oil have formed an organization that would help protect this industry in the world. OPEC (Organization of Petroleum Exporting Countries) was formed as a way of ensuring that oil-producing country got maximum benefit from this product. This has made business environment for this product very favorable. This organization protects the rights of all member states in the international market. This has helped stabilize the international...
Words: 3768 - Pages: 16
...MAKING VISION 2021 A REALITY: GLOBALIZATION AND REGIONAL COOPERATION CHALLENGES FOR BANGLADESH Course Name : International Economics SUBMITTED BY: Muhammad Jahangir Alam ID:40814010 14TH Batch MBA (Marketing), University of Dhaka. Date of Submission: 28.12.2010 Introduction Born from the great Liberation War of 1971, Bangladesh is a non-communal, progressive, democratic state that has worked to establish an economy and society free of inequality, and to nurture a culture of democracy and respect for human rights for all fostered by patriotism in all areas of social existence. Along with a tolerant democracy, the aspiration is for a more caring society based on a system of values rooted in the culture and traditions of Bangladesh. The country’s value system will develop as it progresses, and the values will translate from collective to individual perspectives creating a collective drive to work together towards national development. Bangladesh’s heritage, rich in content and diversity, shall have a place in our present and be the anchor for the country’s ambitions. Globalization in the broadest sense implies integration of economies and societies across the globe through the flow of technology, trade and capital. Economic globalization is a process of rapid economic integration between countries that is driven by the increasing liberalization of international trade and foreign direct investment...
Words: 3290 - Pages: 14
...EMPL 3270: NEGOTIATION – THEORY & PRACTICE RESEARCH ESSAY Q2: According to Fells (2012, p.207) “As a negotiation unfolds, it is easy to attribute any behaviour, particularly behaviour that is different to your own, to culture and so ignore the many similarities”. Consider this statement with reference to contemporary research on cross-cultural negotiation and use examples to illustrate your analysis Introduction: Former President and charismatic leader of the United States John F. Kennedy once stated that, “We cannot negotiate with people who say what's mine is mine and what's yours is negotiable” (Kennedy, 1961). This timeless quotation epitomizes and typifies in essence what can commonly be regarded as cooperative negotiation. Formally, the term negotiation is commonly defined as two or more parties or groups deliberating amongst each other endeavoring to achieve a decisive result, which is mutually beneficial for both entities. When considering the process of negotiation across contrasting geographic locations or countries, negotiators have to understand the repercussions which heterogeneous cultures have in the final outcome of a potential deliberation. Culture is defined as the ‘unwritten rules of society’ (Hofstede et al, 2010) and most typically refers to those characteristics or values, which are unconsciously embedded in a large group of citizens through the ongoing processes of tradition and various forms of education. Understanding the pertinence of cultural...
Words: 2536 - Pages: 11
...Article Analysis: International Negotiation Letricia Allison University of Phoenix Organizational Negotiations MGT 445 Nancy O'Connone-Bone October 09, 2009 Article Analysis: International Negotiation International negotiation is a negotiation that occurs between two countries or between two or more individuals or organizations located in different countries. When negotiating with an individual or organization in a different country, one must remain extra cautious to avoid and deceptions or swindles caused by international negotiations. A negotiator who does not have a clear understanding of the negotiation process in another country could fall prey to unfamiliar negotiation schemes. This could happen nearly to all qualified domestic negotiators. Analyzing two articles in which a negotiation situation has occurred in a global context will give society an understanding of the implications of globalization and technology on negotiations. Obama Led UN Council Backs Broad Nuclear Agenda President Barack Obama had the honor of presiding over Septembers UN Security Council meeting. During this meeting, the UN Security Council cast a unanimous vote to endorse a strategy aimed at stopping the development of weapons made from nuclear power. The UN Security Councils ultimate goal is to eradicate the production of nuclear weapons to bring forth a world with more sanctuary for everyone. “The historic resolution we just adopted enshrines our shared commitment...
Words: 945 - Pages: 4
... | | |School of Business | | |MGT/445 (3 Credits)Version 1 | | |Organizational Negotiations | | |Puerto Rico Campus | Copyright © 2009, 2006 by University of Phoenix. All rights reserved. Course Description This course provides an overview of negotiations in an organizational setting. Students learn negotiation processes and strategies, the role of stakeholder interests in negotiation, and how to apply these concepts to the workplace. Students also examine conflict management techniques and emerging negotiation trends in globalization and technology. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the...
Words: 2010 - Pages: 9
...Kazakhstan`s place in Global Economy Dinara Zhangabayeva 145075 International business (MGMT 550) Submitted to ASSOC. PROF. DR. AKER SULE 28- 12- 2015 Introduction At the turn of 20-21 centuries, the world economy has entered a new phase of internationalization of economic life, which is defined as globalization. Globalization of the world economy as multidimensional process manifests itself in substantially all major aspects of modern economic life. The world is getting united through globalization. This is happening because of the technological advancements in the recent decades and the global organizations that made trading and capital movements easier. Regulations from various countries supported free trade, which made the countries more integrated with each other. Various entities were created to facilitate the trade between countries and to reach a more global economy (World Trade Organization, International Monetary Funds, The World Bank, European Union…). Efforts were made to get the financial markets integrated between each other as we have indexes for the whole world such as BBC Global 30, S&P global 100 … etc. and indexes for the European union like FTSE Euro 100, FTSE Euro Top 100… etc. The independence allowed Kazakhstan to establish economic relations with many developed and developing countries, to rebuild relationships with former partners and to advance on the path of integration into the world market. The liberalization of foreign economic...
Words: 3331 - Pages: 14
...Questo articolo è la base del libro di Stiglitz pubblicato in ottobre in italiano dall'editore Einaudi col titolo "La globalizzazione e i suoi oppositori". Few subjects have polarized people throughout the world as much as globalization. Some see it as the way of the future, bringing unprecedented prosperity to everyone, everywhere. Others, symbolized by the Seattle protestors of December 1999, fault globalization as the source of untold problems, from the destruction of native cultures to increasing poverty and immiseration. In this article, I want to sort out the different meanings of globalization. In many countries, globalization has brought huge benefits to a few with few benefits to the many. But in the case of a few countries, it has brought enormous benefit to the many. Why have there been these huge differences in experiences? The answer is that globalization has meant different things in different places. The countries that have managed globalization on their own, such as those in East Asia, have, by and large, ensured that they reaped huge benefits and that those benefits were equitably shared; they were able substantially to control the terms on which they engaged with the global economy. By contrast, the countries that have, by and large, had globalization managed for them by the International Monetary Fund and other international economic institutions have not done so well. The problem is thus not with...
Words: 5331 - Pages: 22
...Culture and its implication on the international business management. Introduction Today, problems associated with global business management have been identified as factors that negatively impact the performance and productivity of multinational corporations and in turn, adversely affect regional and national economic growth The goal of this paper is to analyze the influence of culture in international business. The globalization of the world economy has intensified international relationships, increasing the importance of cultural dimension. The world is being affected by the globalization of the economy. This phenomenon is bringing movement of companies, assets, services, capital and people. Analyzing globalization this process is taking the world to major changes in the economic, technologic and social areas, which are having consequences in all organizations and societies that participate in this globalized market. It is a process that does not bring equal benefits to all participants. The globalization concentrates more of its actions in some sectors of economic activity and some regions and countries, rather than acting everywhere. With the world getting flatter doing business anywhere in the world is easier today, because of major changes in technology, global politics and expanded educational opportunities. But it is not only businesses that are affected. Governments, NGOs and society itself is changing at a fast pace. Nevertheless going forward can only happen...
Words: 4150 - Pages: 17
