Salary and Finances

Question 1

For this assignment, you will lay the groundwork for negotiating with someone you know in an imagined scenario.

  1. Begin by selecting someone you know and with whom you have an ongoing relationship (e.g., coworker, supervisor, friend).
  2. Decide the topic/issue about which you both will be negotiating (e.g., salary, finances, responsibilities).
  3. Your well-written paper should contain the following elements:
    1. Start with 1-2 sentences identifying the person with whom you’ll be negotiating and the topic/issue of the negotiation.
    2. Define your goal or desired outcome for this negotiation.
    3. List what you know about the other party’s goals or interests concerning the negotiation. Also, list the questions you need to ask to improve your understanding of the other party’s goals and interests.
    4. Describe any additional information that’s needed for this negotiation (e.g., if the negotiation is about salary, you may need research on average salaries in your field; if the negotiation is about responsibilities, you may need documentation on how your time is currently spent).
    5. Discuss any potential issues you believe might arise in this negotiation as a result of your relationship with the other party.
    6. Propose at least two strategies you will employ in the negotiation to help maintain your relationship with this person.

Question 2

You are about to embark on an international negotiation. You work for a multinational oil company, and your company has decided to set up a joint venture with Saudi Arabia and another one with a company in Russia. You are leading the negotiations.

  • What are the 5 stages of negotiation, and how might you prepare for them? To answer this question consider the following:
    • Is the preparation different with each country?
    • Would inductive or deductive reasoning work better for different cultures?
  • What cultural differences do you need to be sensitive to in the process?
    • For example, what would you expect from the Arab negotiator versus the Russian negotiator who will be working with you, the American negotiator?
  • What would be some of the political, legal, economic, and ideological issues that may come up?
  • How would you manage conflict if it should come up in the negotiations?
  • 400–600 words

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