Analyze the implications of globalization and technology on negotiation Free Essay Example, 1000 words

Furthermore, we cannot neglect the importance of rapid technological change as it will increase the international competition between the largest and most developed economies. This will enhance the need for more knowledge-based but skilled workforce to compete at international level for the survival of such economies in years to come. Some people see globalization and technological advancement as a threat for developing and under-developing countries due to their lack of resources and shattered economies. IMPACT OF GLOBALIZATION AND TECHNOLOGY ON NEGOTIATIONS: Now the question that rises over here is; how globalization and technology have their impact on negotiations and what changes are brought about by both of them? It is worth mentioning that globalization has given rise to tough international competition and in today’s world of advancement it has become a game of the survival for many growing economies and more specifically economies of the third-world countries are alrea dy considered as under-threat by such tough competition with technology as a second most important element collaborating directly in this game of survival (Stroper, 1992). The implication of globalization and technology on negotiations can be explained by a very simple example that due to globalization and advancement in technology majority of the well-known companies have shifted their manufacturing plants to China due to cheap labor and security. We will write a custom essay sample on Analyze the implications of globalization and technology on negotiation or any topic specifically for you Only $17.96 $11.86/pageorder now This major shift will effect greatly on the negotiations if any company wants to merge or acquire another one who already has its plants functioning in China. It is important to have a basic understanding of the term â€Å"negotiation† with context to international business. Business negotiations are the roots of developing a strong but successful international business relations with other entities through mutual dialogue and framing a set of policies to be followed mutually by both the parties agreeing on the terms and conditions defined. The nature of such business negotiations can be between the companies, between a company and a government, it could be only be some interpersonal interactions regarding any business affair such as mergers, joint-ventures, acquisitions or licensing (Weiss, 1993). Globalization and technology have grown rapidly due to these mergers, acquisitions and rise of multi-national corporations which have added not on ly a definite meaning to economical growth, created employment opportunities, enhanced competition and increased knowledge-based skill workers but they have also given a new direction for unlimited business opportunities particularly in third world countries where labor is cheap but resources are limited and economic growth is at zero.