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Negotiation in business | Business & Finance homework help

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Note to students: An ability to conduct proper research, provide the appropriate referencing

of sources and demonstrate critical thinking are all essential skills that our students must

develop. Hence, marks are awarded for good research effort and proper referencing.

Fewer marks will be awarded to students who merely extract information from their reference

sources without demonstration of critical analysis.

Read the following scenario carefully and answer all the questions below. It is important

to support your answers with specific examples based on the scenario below, and to

demonstrate your understanding and application of the relevant concepts. You may make

reasonable assumptions, as part of your analysis.

Question 1

You have been working in a small and medium-sized enterprise (SME) in Singapore for the

last three (3) years. At the same time, you are studying part-time at a university. It will soon be

your last semester at the university and you have heard that some of the courses that you will

taking can be very intensive. You want to do well for these courses. Hence, you are hoping to

leave work a couple of hours earlier every day during the last semester, so that you can have

more time to study and do well in your assignments and exams. You intend to ask your

immediate manager for a promotion and a salary increase once you graduate.

However, you are aware that your company is short-staffed, with many of the employees

having to multi-task and work overtime. This style of working has become the norm within the

company. While the company is trying to hire one or more new employees, it has been

challenging since most of the job applicants either do not have the relevant work experience or

are seeking higher remuneration.

You intend to broach the subject with your immediate manager soon. He has been with the

company for more than five (5) years. While he is on friendly terms with you, he can also be

very task-oriented. From time to time, you have observed him being frustrated with mistakes

that were made by the team. While he tries to coach the more inexperienced employees, he

appears to be very stretched for time. He is always out for meetings, reviewing paperwork in

his office or talking to other employees about work-related matters.

(a) There are various ways in which an existing relationship between the negotiating parties

can change the negotiation dynamics.

Consider the relationship between you and your immediate manager in the scenario

above. Appraise three (3) ways in which such a relationship may impact on the

upcoming negotiation with your immediate manager. Support your analysis with

reasons and specific examples.

(b) Based on the 10-step planning process, analyse each step and discuss the key actions

that you need to take, in order to be well-prepared for a successful negotiation and

achieve an outcome that is beneficial to you. Provide reasons and specific examples

that are relevant to your organisation and your role, to support your analysis.

Please note that you are required to assess and analyse the key actions, and as such,

you should not be describing a laundry list of actions for each step.

(c) Communication can be ineffective if the incorrect channels are used. Evaluate how you

should communicate with your colleagues in your company, including the person(s)

with whom you should communicate, the types of communication channel, when each

of such channels should be used, and the duration of each communication and venue (if

relevant). Please provide supporting reasons and examples for your recommendations.

As part of your analysis, you should analyse the level of power between you and your

company. Describe one (1) source of power for each party, as part of your analysis.

Discuss how this will impact on your communications with the company, with

supporting examples and reasons.

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