Microsoft Word - MGMT 300 Exam 2017.docx Page 1 of 2 MGMT 300 – Art of Negotiation Take-home exam, Semester 2 2017 Due Date: Friday 17th November, 12pm This exam is worth 45% of your course mark....

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Microsoft Word - MGMT 300 Exam 2017.docx Page 1 of 2 MGMT 300 – Art of Negotiation Take-home exam, Semester 2 2017 Due Date: Friday 17th November, 12pm This exam is worth 45% of your course mark. There are FOUR questions. Answer ALL questions. Exam is to be submitted at BESS and a turnitin originality report MUST be attached to your submission (see week 13 slides on ilearn for more information). Please submit your exam to the drop box that has your tutors name on it. Make sure you attach an individual cover sheet to your hard copy submission ONLY. Word Limit: MAXIMUM 2000 WORDS (in-text referencing included) Format: Standard A4, 12 font text, double spaced document Provide short, succinct answers to each question in report format. Be sure to include a reference list at the end of your exam (This list is NOT included in the word count). NOTE: All answers are to be justified with a critical use of academic material and application of concepts discussed in the course. Read the following scenario and answer the questions below Having completed an engineering degree, Rachael established a well-respected construction company in Australia called Mayfair Constructions. Having just secured a building contract for a new apartment building in Sydney worth $100 million, Rachel is in the process of sourcing building materials from overseas suppliers. One company that she is dealing with is an Indian-based external cladding company known as Sun-Set Constructions based in the capital of India, New Delhi. After arriving in New Delhi and organising an initial meeting to negotiate the terms of the deal, Rachel found it very difficult to enter into discussions with the representative from Sun-Set Constructions, Mr. Omar. He seemed to be dismissive of Rachel, more interested in showing her the local sites of New Delhi and did not want to enter into formal negotiations about the price, volume and shipping of the external building cladding that Rachel needed to complete her construction project. Rachel is currently considering whether her trip has been a waste of time and whether future negotiations should be carried out via email when she returns to her Sydney office. To make matters worse, Rachel has just received some preliminary reports suggesting that the cladding provided by Sun-Set constructions was actually the cause of a serious fire in an apartment block in the UK as the cladding is suspected to be highly flammable. However, further testing needs to be carried out to confirm these suspicions. The definitive scientific reports on the flammable nature of the Page 2 of 2 cladding produced by Sun-Set Constructions won’t be available for over 12 months. If Rachel fails to complete construction during this time she will surely lose the $100 million residential building contract that she has just secured. Rachel is at a loss at what to do. Remembering that you are an expert negotiator, Rachel has come to you to seek your advice on how to proceed with negotiations in the future. Using your knowledge of negotiation theory and materials, provide Rachel with advice on the following: 1. Using negotiation knowledge and theory gained in this course, what type of approach to negotiations would you recommend Rachel to pursue with Sun-Set Constructions? Why? (5 marks) 2. If Rachel was to proceed with negotiations with Sun-Set Constructions, how can Rachel prepare for negotiations considering her lack of familiarity with Indian negotiators Is there particular training and learnings she could undertake? Why? (10 marks). 3. What tactics should Rachel use in negotiating with Sun-Set constructions? (20 marks). In your answer, you should consider the following: a. What negotiation tactics can Rachel use to address the cultural considerations/differences he is likely to encounter in this negotiation? Use appropriate cultural frameworks and relevant negotiation literature to justify your answer. b. Do you think that Rachel will/should adopt electronic forms of negotiations? Why? c. Are there other alternatives Rachel needs to consider when contemplating a deal with Sun-Set Constructions? Why is it important to consider alternatives? 4. Are there any ethical considerations that should be considered in Rachel’s case? If so, using relevant ethical frameworks discussed in this course, what advice would you give her in attempting to address these issues? (10 marks) END OF EXAM