Negotiation occurs in business

Negotiation occurs in trading1. Executive analysisThe thirst for power, growth and global recognition has made countries source for wealthiness and power by dint of the process of Negotiating with each different. The term Negotiation freighter be said to be a dialogue. Resolving disputes to reach an sympathy upon course of action or to bargain for individual or incorporated advantage. Negotiation occurs in business, non-profit organizations, and g everywherenment branches, legal proceedings, among nations and in personal situations much(prenominal) as marriage, divorce, pargonnting, and e very(prenominal)day sustenance. Nigeria, the most populous country in the all of Africa with a population of more or less 140million, is a multi- heathenish country where colossal multiethnic groups negotiate everyday for the growth of the country. In this report you exit happen the pattern in which Nigeria communicates and negotiates when it comes to doing business and how its cult ure affects its decision making and life hyphen.1.1 Communication and Negotiation style in NigeriaPersonal affinity is very important to themTrust is required to conduct businessAge is holded declaratory of wisdomAn older business person is al instructions put in a negotiating planTitles argon always used depending on the situation of that person. E.g. Chief, Mr, Mrs, Engineer etc.Companies be hierarchicalUltimate decision-making rests with the CEODecisions be reached slowlyIf one is not patient with decision making you resulting give offence and that alone can put your business relationship at riskGetting decisions from goernment officials can be extremely protractedNigerians can be tough bargainersThey state their position clearly and may get into heated decisionsOne is anticipate to honour whatsoever promise madeInitial agreement is generally verbal-followed by developNigerians expect flexibility in working fall out the details. This is due to the circumstance that they are not time conscious. It can take desireer than proposed or expected to get the job through2. Terms of referenceAs a reporter by name Sarah Aghorighor born in Nigeria, I was approached by an investor from china who has invested in so compositiony companies. He would kindred one of his firm which deals with electronics to do business with a Nigerian importer.My client, Mr two-year-old Chan a successful investor, who owns everyplace 30 firms in China wants me to bring through a brief on how Nigerians communicates and negotiates with opposite countries and if culture affect their way of doing business.3. Overview of the situationLiving in Nigeria requires one with survival instinct, the ability to multi task, concentrated business orientation, self confidence and a fearless heart. Living in Nigeria change ones attitude towards life, work and its environment either good or bad scarcely I think in this case it changes it for good. Nigerian life style is governed by cult ural values that make up its society. These values govern how they live, work and interact. However, culture is not just about us but the flock we live with.Ferraro (1997) shared his view on culture as everything that the great unwashed have, think, and do as members of their society. His view considers clobber objects, values and beliefs as well as behavioural patterns of a people to be components that define culture. However, culture is not in born it is acquired through learning and interacting with ones environment.Nigeria is situated on the gulf of Guinea in westerly United States Chad. Its neighbours are Benin, Niger, Cameroon and Chad while the lower course of the Nigeria river flows south through the western part of the country into the gulf of Guinea swamps and mangrove forest butt on the south coast inland are hardwood forest. The country gained its independence October first 1960 becoming members of commonwealth of nation and joining the United Nation. Although Nige ria has had its up and refine in the past, it is chill out known as one of the richest country in the world. Trading on cassava, woods, fishing etc is one of Nigeria high-speed way of growing economically and making wealth apart from its oil business.Nigeria has a very upstanding tradition which governs the land and its business. In addition, Nigeria is known for a strong tradition in literature, theatre, arts and craft and is now coming up in its music which is culturally tide to a particular style and as well the film industries. Nigeria has good and natural resources, when investment is made on its land on that point is always a positive result, provided rules are obeyed. As a Nigerian through this research it was brought to my attention that Nigeria and China are like brothers. They share a lot in common and in a higher place all their negotiating style is the same irrespective of the fact that they are two from different parts of the world. One major factor is that so me(prenominal) countries are cultural.4. abstract of the situationIn my years of practise as a reporter I have come to realise that certain issues affects man and its environment. This can affect them socially, economically and even politically and when it does things changes in that country, alert them in a state of confusion. Everyone negotiates one way or other known and unknown to us, this makes us live together as one. trance negotiating to begin with making / taking any decision we must consider the feasibility of the intended action or business to be embarked upon. With this in mind, we would like to examine, by way of analysis, our options in order to resolve these issues.The normal tool used for this research is PEST analysis. PEST stands for political, Economic, loving and proficient factors of the external environment. That is, the external factors that is usually beyond the firms control that may key out threats to the organization. Thus, PEST analysis is found suitable for this paper because it is expected to release issues that may arise during negotiation process and offers possible suggestion that testament fast-track the process.Each of the factors considered in PEST analysis is composed of several other issues for analysis, but the ones chosen for this research are as followPolitical analysis we considered the political and the democratic processes in Nigeria the risk of military infringement sell and price regularization.Economic analyses we considered the meagreness level and inflation rate.Social analysis we considered the demographics.Technological analysis we considered the recent technological developments the rate and public exposure of telephone or Internet goods.4.1 Political Analysis collect to the long years of military rule which lasted for about 30 years out of 47 years of independence, the rate of development in Nigeria has tolerateed low. This reign was separate as an economic depression, lack of vision, inade quate infrastructural development etc. I think it was just plain illiteracy from the military, but ever since the civilians took over there has been transformation throughout their journey. Since 1999 when military regime handed over to civilians, Nigeria has witness great developments in technology, delivery and politically. Since then the nation aimed to clean the economy and polity in general such as aver recapitalization which reduced from 89 weak banks to 25 strong ones, making 12 of them listed among the first 1000 banks in the world. This feat has never been achieved before (Soludo cc7) also telecom has made the country be the fastest growing tele communication JIB August 2008, Vol. 13, No. 2. In the major sector of the economy such as transportation, mineral resources, oil and gas, there is high hopes for exotic investments.4.2 The Economic Analysis4.2.1 Poverty LevelNigeria with great wealth still has economic issues. There is poverty amongst household and in the land. In 1996, the poverty rate was 46% instead of going down to 21% but sadly to say poverty sky-rocketed to 76%. The urban slums dwellers in Nigeria are about 77% while issues to be solved under the millennium Development Goals (MDG) are located in urban settlement which is or so 99%. In general, two-thirds if the household in Nigeria are poor, but there is hope for tomorrow.4.2.2 Inflation RateThe inflation rate as at presentDue to militants destructive activities in Niger Delta region, the total federal tax income collection dropped 44% between 2008 and 2009 which brought the need to develop infrastructures. But overall, the economys fruit continues to improve as GDP rose 6.73% compared to 5.56% during the corresponding period of the forward year. Through these contributions the GDP got significant growth agriculture, wholesale and retail trade but from the oil sector there was a decline in growth to about 4.5%.Nigeria at this point seems risky but the picket for this country p rospects for investments remain positive.4.3 Social AnalysisNigeria is a very large country filled with lots of social activities. Yes indeed the country is over populated but it does have its wonderful side. This social analysis will be based on Lagos which is the principal port of Nigeria. The largest market in cloths, vegetables, meat and poultry, enamel and earth ware, herbs, fancy goods and fruits are located inwardly its surroundings. Its got lots of site seeing, places to go, people to see and activities round it. Most of the people are traders and they make their living from the commerce of the city by trading, import and exporting, shop keepers, drivers, watchmen, clerks or craftsmen etc. There is always something to be done and ways to make money.4.3.1 DemographicNigerians life expectancy was estimated to have increase from 40 to 51 years. Much of this is due to the decline in mortality rate among infants younger than one year and children ages one to four. At 1990, mate rnity deaths excluding deaths resulting from outlaw(prenominal) abortions exceeded 75,000 per year. Regardless of the countries decline in fertility in the 1990s, the countrys population was expected to double by next century. Less than Nigerians 1990 population was less than cardinal thus the country expects to deal with a population of more than 200 million probably within the next twenty-five years.4.4 Technological AnalysisThis is based on infrastructure, use of telephone and the level of internet engagement in Nigeria. Nigeria has witnessed a commendable growth in telephone service from 2001 till date, moving from a density of 0.73 to above 37.05. Nigeria is currently rated the fastest growing telecoms industry in African (Nigeria2Day, 2007).4.5 Environmental FactorsNigerian bemire is rich in minerals which help grow crops. Despite the pollution on the environment such as oil spillage, over population and put down of government on the land, it is still a rich place to do b usiness. Due to the over population of the country there is cheap force back which will help facilitate the business.4.6 Legal Factors5. Solutions and recommendationsI would suggest that before negotiating you should look closely into Nigerians way of negotiating and top companies that deals in such business and has good reputation. These people should be your target market people.With an increase in unemployment currently at its highest, labour cost is low. Larger number of slothful skilled workers can be employed to work. If possible employ both Chinese and Nigerian citizens.Understanding cultural diffusion. This concept identifies that most innovations introduced into a culture are as a result of borrowing from other culture. Therefore, appreciating other peoples culture is imperative.Actual negotiation should be decided on its handling methods. E.g. the extents at which you adjust your style to their culture and still remain credible.Typical behaviour of patterns, attitudes, v alues of your negotiator should be understood.Invest in research. Employ effective use of the internet by creating a website that will facilitate purchase and delivery during both importing and exporting of goods.A good communication skill is needed.Multiple offers should be made simultaneously.6. bode and outcomeThere will be some form of cultural differences during and after negotiation, but so long as deadlines are met and both parties work hand in hand the business will flow.Due to government and immigration rules there might be some difficulties during importing and exportation of goods. With good research and also foreigners at both ends there shouldnt be too much trouble.There should be Constant communication back to Directors to know the situation of things.7.ReferencesSoludo C. (2007) Strategic Agenda for the Naira, accessed date, Aug. 17, 2007.Lothar Katz. (March 2008) The Negotiators Reference head up to 50 Countries around the Worldhttp//www.onlinenigeria.comNigeria2D ay (2007) Nigeria celebrates Six Years of GSM Mobile Phones, accessed date, Sept. 3rd, 2007.Kimmel, Paul. cultural Perspectives on International Negotiations, ledger of Social Issues, 50, (1), 1994, PP. 179-196 and Weldon,Elizabeth and Karen A. Jehn. Examining Cross-Cultural Differences in employment Management Behaviour A Strategy for Future Research.The International Journal of Conflict Management 1995, 6, (4) October, pp. 387-403.Guirdham M, 2002, Interactive Behaviour at Work (3rd Edition), Essex, Pearson procreation Ltd. ISBN 0-273-65590-6