Bellfield Oil And Gas Plc - 3939 Words

BELLFIELD 63 NEGOTIATIONS MEMORANDUM INTRODUCTION This memorandum has been prepared by one of the DEEGOIL OIL GAS PLC (DEEGOIL or the team) team members that participated in the BELLFIELD 63 negotiations between DEEGOIL OIL GAS PLC and the representatives of the MINISTRY OF NATURAL RESOURCE MANAGEMENT (MONRM) in relation to a Production Sharing Contract for Bellfied 63 at the state of Aberoli. This memorandum contains information regarding the preparation for the negotiation, creation of value and the division of the value created as well as information on how the negotiations were conducted, deadlock and the people issues. BACKGROUND ïÆ'Ëœ Aberoli held a licensing round in which it invited oil and gas companies to bid for a†¦show more content†¦There are some steps that should be followed during negotiation process: 5. Close- timing- Agreement on the terms Figure 1: illustrates the five stages of the negotiation process At Bellfield 63 negotiations the negotiation process was based in the following premises: ïÆ'ž Does the team know what it wants to achieve? Does the team understand what the other party is really trying to achieve? ïÆ'ž Can the team identify the key risks and obstacles that will need to overcome? ïÆ'ž What concessions are the team willing to make? What does the team think the other party will ask for? ïÆ'ž What does the team consider to be deal-breakers? How can the team overcome them? ïÆ'ž Is the team ready to conduct a positive and constructive negotiation? Concerning the preparation process, due regard should be given to the â€Å"Role Play† , as the Individual team member’s role must be clear and coordinated by a team leader. This must be done carefully to avoid stand-alone (dyadic) negotiation due to interpersonal differences. The creation of value and the division of the value created are important factors to acknowledge since the business model focuses on the creation of value. A business model within the Petroleum Industry, takes financial and non-financial elements into contemplation, namely: †¢ Competitive Position – the predominant strategy in the industry to create and capture value, notwithstanding in the short-term. In an industry with a historical of

Japanese American Incarceration Essay - 1885 Words

The Incarceration of Japanese Americans is widely regarded as one of the biggest breaches of civil rights in American History. Incarceration evolved from deep-seated anti-Japanese sentiment in the West Coast of the United States. After the Japanese attacked Pearl Harbor on December 7th, 1941, pressure from the military leadership, politicians, media and nativist groups in the West Coast eventually convinced the President Franklin Roosevelt that action had to be taken to deal with the national security â€Å"threat† that Japanese Americans posed. In reality, Japanese Americans were no real threat to the United States, but the racist sentiments against them prevailed and greatly influenced United States policy during the war. When discussing†¦show more content†¦government officials, including President Roosevelt. Prior to World War II concentration camp was used to simply describe prison camps outside of the normal judicial system; however, in light of the atrocities committed in Nazi concentration camps, the term has garnered an association with horrific abuses. In contrast, the term â€Å"prison camp† There is also debate over the term Japanese American. Due to racial based immigration laws, first generation Japanese immigrants, also known as Issei, were aliens ineligible for U.S. citizenship. Had these laws not been in place, it is reasonable to assume that nearly all of the Issei would have sought U.S. citizenship. However, their children, the second generation, or Nisei, were U.S. citizens by birth. Because of these racially based laws and because Issei were later granted citizenship, it seems more appropriate to refer to these immigrants as Japanese Americans than true Japanese nationals. When examining Japanese American Incarceration, it is valuable to examine the history of Japanese immigration to the United States. In 1853, Commodore Matthew Perry forced the Japanese to open their ports to the United States under threat of bombardment. In 1868, after overthrowing the shogun, Japan’s new government began to focus on modernizing the nation after centuries of isolation.Show MoreRelatedEssay about American Minorities during World War II1446 Words   |  6 PagesAfrican Americans, women, Japanese Americans, and even young adults. What is a minority? A minority, in this case, is a person or group of people who are discriminated against because there is something about them that makes them different. Some of these reasons why they are different are things like race, gender, and even age. However, the real question is how were the roles of American minorities change after World War II? 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Patrick Bloom 4/29/15 ASAM 335 Dr. Tsuchida â€Æ' JAPANESE AMERICAN IMMIGRANTS Migration of Japanese people to America began in mid-1800s as they searched for peace and a mode of payment to improve their family conditions, and escape from unstable home conditions in Japan. Migration resulted in a life of great hard work and severities of hostility in the workplace. In addition, Japanese immigrants had to face multiple legislative attacks from Americans and endureRead More Japanese Alien and Japanese-American Poets In U. S. Relocation Camps4710 Words   |  19 PagesOn February 19, 1942, Franklin Delano Roosevelt issued the infamous Executive Order 9066, which resulted in the internment of 110,000 Japanese Aliens and Japanese Americans in concentration camps because of the so-called military threat, they posed. In 1945, poet Lawson Fusao Inada wrote the following poem, titled Concentration Constellation, which refers to the various relocation camps that were used to contain these people: In this earthly configuration, We have, not points of light, butRead More The Odyssey Essay2009 Words   |  9 Pages japanese-American During WWII By: Japanese immigrants and the following generations had to endure discrimination, racism, and prejudice from white Americans. They were first viewed as economic competition. The Japanese Americans were then forced into internment camps simply because of the whites fear and paranoia. The Japanese first began to immigrate to the United States in 1868. At first they came in small numbers. US Census records show only 55 in 1870 and 2,039 in 1890. After that, they cameRead MoreThe Internment Of Japanese Americans894 Words   |  4 PagesThe internment of Japanese Americans is an example of how one historical event can influence the start of another. The Japanese attack on Pearl Harbor created fear throughout the nation. Newspaper articles depicted Americans of Japanese descent as untrustworthy and a danger to the nation. They warned that Japanese Americans were serving as spies for their mother coun try. As hysteria grew, eventually all persons of Japanese descent living on the West Coast, including those born in the United StatesRead MoreThe United States And Japan1158 Words   |  5 Pagesto reduce the increasingly growing number of Japanese immigrants in the West Coast. Subsequent regulations placed on the Japanese in the United States made them aggravated. There was serious trouble brewing between the United States and Japan until the Japanese carried out attacks on Pearl Harbour in December 1941. After the attack on Pearl Harbor there was increased spread of propaganda from the press and local leaders against the people with Japanese roots. There were numerous calls to the Congress

Elevator Speech Draft Free Essays

Elevator Speech Audience: Diana Gale Purpose: To outline strategies for developing a publicly supported wasteland augment policy â€Å"Seattle Waste utility faces a challenging new mission: not only is the agency t asked with its previous responsibility of delivering waste management services, it is now task ked with developing waste management policy. With the approaching deadline to Rene w the contract with the King County landfill, the utility is faced with an opportunity to recon mend a new longer waste management policy. You have already accomplished a great deal by building SSW into an organize Zion that can be effective in developing policy, but local organizations, politicians and meme beers of the public have strong, competing perspectives about waste management in Seat tale. We will write a custom essay sample on Elevator Speech Draft or any similar topic only for you Order Now In addition, confidence in Saw’s ability to recommend a policy is low. Under these conditions, it is best if SSW does not make a recommendation a bout a longer waste management policy alone. Instead, you should engage key organization s and individuals whose support could strengthen Saw’s legitimacy. TO determine a longer asset disposal policy, we recommend that you pursue one of two participator decommissioning processes: the first includes the the public, along with local p Laotians and administrators. If time constraints allow, we feel that this is your best bet to in crease Saw’s legitimacy and gain support and cooperation for the policy. The second excels vilely includes local politicians and administrators. This second process would increase the u utility legitimacy on a more limited level, but may be preferable if time constraints prevent you from pursuing the more inclusive process. † How to cite Elevator Speech Draft, Papers

Corporate Accounting In the Leasing Process

Question: Discuss about the Corporate Accounting for the Leasing Process. Answer: 1: (a) In the leasing process lessor allows use of certain assets in lieu of the rent amount. This is a perfect example of the finance lease where Salohcin Ltd leased asset is a specific item of industrial machinery, portable Enamel Drying Room to Ffoeg Ltd, for a period of 4 years. The asset was actually purchased by the lessor and then given on for lease to Ffoeg Ltd for an annual rent of $1,20,000. The owning of the assets and then leased out is considered as the finance lease according to Statement of Standard Accounting Practice 21. (b) Total lease receivable is $1,00,000 x 4 = $4,00,000 The annual lease payment of $20,000 towards insurance and maintenance is not considered here. The present value of lease receivable at the inception of the lease will be $4,00,000 x 3.106= $ 12,42,400. (Assumed that, first lease payment will be due on 30 June, 2006) (c) Date Annual Lease Payment Executory Cost Interest (20% on Liability) Reduction of Lease Liability Lease Liability 30.06.2006 349,160 30.06.2006 120,000 20,000 100,000 249,160 30.06.2007 120,000 20,000 49,832 50,168 198,992 30.06.2008 120,000 20,000 39,798 60,202 138,790 30.06.2009 120,000 20,000 27,758 72,242 66,548 480,000 80,000 117,388 (d) Journals in the books of Salohcin Ltd (Lessor) 30.06.2006 Direct Cost Dr. 15000 Cash Cr. 15000 Cash Dr. 120000 Lease receivable Cr. 100000 Insurance and Maintenance Cr. 20,000 29.06.2007 Interest Receivable Dr. 49832 Interest RevenueLeases Cr. 49,832 (Salohcin Ltd recognizes the interest revenue earned during the first year through the following entry) 30.06.2007 Cash Dr. 120000 Lease Receivable Cr. 50168 Interest Receivable Cr. 49832 Insurance and Maintenance Cr. 20000 29.06.2008 Interest Receivable Dr. 39798 Interest RevenueLeases Cr. 39798 30.06.2008 Cash Dr. 120000 Lease Receivable Cr. 60202 Interest Receivable Cr. 39798 Insurance and Maintenance Cr. 20000 29.06.2009 Interest Receivable Dr. 27758 Interest RevenueLeases Cr. 27758 30.06.2009 Cash Dr. 120000 Lease Receivable Cr. 72242 Interest Receivable Cr. 27758 Insurance and Maintenance Cr. 20000 01.07.2009 Cash Dr. 10000 Gain on Sale of Leased Equipment Cr. 10000 (e) The Portion of the balance Sheet of Salohcin Ltd (Lessor) For the year 2006 Non-Current Assets (Investment) Lease receivable (249160-50,168) $198992 Current assets Interest receivable $49832 Lease receivable $50168 The Portion of the balance Sheet of Salohcin Ltd (Lessor) For the year 2006 Non-Current Assets (Investment) Lease receivable (198992-60202) $198992 Current assets Interest receivable $39798 Lease receivable $60202 2: Introduction: The discussion paper on Initial Accounting for Internally Generated Intangible Assets by the Australian Accounting Standards Board office was represented by Robert Keys and Dean Ardem. The Assets are broadly classified as Tangible Assets and Intangible Assets. Tangible assets are those that we can see and feel or which is having a physical existence like Plant Machinery, Land and Building, Motor Vehicles, Office equipments, etc while Intangible assets are those which we cannot see physically but can be only realised or understandable as in non-physical form or otherwise as mentioned in the AASB 138/IFRS 3 as an identifiable non monetary asset without any physical existence like; Research and development by any company turning into internally generated intangible assets. Customer related intangible assets like Customer contracts, customer relationships, non contractual customer relationships, customer lists, etc. Contract related intangible assets like lease agreements, licensing agreements, broadcast and operating rights, etc. Marketing related intangible assets like internet domain names, newspaper mastheads, trademarks or trade name, etc. Technology related intangible assets trade secrets, computer software, patented technology, unpatented technology, databases, etc. Arts and culture related intangible assets are like literary works, television programmes, playwrights, copyrights, etc. The valuation Process: It is mentioned that only purchased capital items will not be considered as assets in the business but when an assets is created internally over a long period of time is also be termed as an assets and also known for its asset bearing features like it gives future benefits to the business and in the long run business gets to use this as an asset with different benefit bearing capacity. The report also says that there is a close association between the generation of assets and expenditure incurred but always they may not coincide with each other but may have separate existence (aasb, 2009). The large biomedical company making huge expenditure in their research and developments work is not in any single year or period but for the period which is stretched for some time or many years. The main purpose of the high expenditure in research and development is with the purpose of making great breakthrough in more vivid biological and medical discoveries that may be used for further betterment of human life or creating a better environment for mankind for getting over the medical or biological disadvantages the society is under. The internally generated assets may be a result of or arising out of planned usage of development and research phase of an internal project (charteredaccountants, 2016). The cost capitalisation is a mechanism followed for initially recognising different types of internally generated intangible assets under valuation based model. The cost thus capitalised may be adjusted to fair value during reporting time just by making it a certain step for accounting instead of measurement of such assets. This process may affect impairment of capitalised research and development costs other than research and development expenses. Under cost based model historical cost measurement is followed for internally generated assets. Cost based model is not a value indicator but may be used for initial measurement. Under fair value based model is used to determine the value for which the asset could be exchanged. Internally generated assets are of two types Planned assets and unplanned assets. By this manner the feature of such assets are determined for expected future economic benefits and control (DellAtti Pastorelli, 2006). Recognition of the internally generated assets is done if it helps in future economic benefits and the cost of value can be measured with all possible reliability. AASB 138, paragraph 21(b) refers that cost based model is best used for initial recognition of internally generated intangible assets. The future economic benefit to the company should flow from the assets. In the paragraph 22, it is clearly stated that the probability of expected future economic benefit should be valued based on the estimates of the management. AASB initially recognised that, intangible assets internally generated can be valued on fair value. Research costs are always in general concept incurred under IASB with a view to give rise to an asset which has ultimate potential to grow for national interest. Conclusion: The possible advantages and disadvantages of recognising internally generated intangible assets under AASB 138 will be as stated below; The main advantages of internally generated intangible assets is that the assets can be used in deferred manner to generate long term benefits in the business as a going concern which means that till the business is in operation. Another advantage of internally generated intangible assets is that it is in consistent with accountability of management enabling an assessment. The main disadvantages of not recognising internally generated intangible assets are that such assets will have high uncertainty in relation to future treatment of such assets; partial lack of control or excludability, non-recognition can cause serious harm problem and non-tradability. 3: Genesis of the amendment The main objective of the financial reporting is to have basic system of financial information and database for the purpose of control which will be useful to all stakeholders particularly investors existing and new , other creditors , lenders for making or taking decisions. All stakeholders like investors, lenders, creditors, taxpayers, other contributors are members of the community as a whole who wants basic information from all business where they have share and interest. For example that any new decision by parliament may be taken on the basis of information available from an industry so that the taxpayer can also take decision if they need to represent any such entity, also on such information will depend if the government can fund such entities or not. Suppliers will be also using such information to decide to supply further or not and mostly such information is very much useful for investors making investment for further growth of the entity. The net cash inflows for future projection are very important for potential investors as well for existing investors. The general information of an entity is required for the purpose of financial reports which will help to determine the future net cash inflows which will help creditors, lenders, investors, management, board of directors, etc. Financial reports used by management or board are always not useful to all stakeholders like existing and potential investors, lenders, creditors, etc as such reports will be presented to them by making it understandable to them. General purpose of financial reports is to provide all information to existing and potential investors, lenders, the creditors, management and governing board. All individual information seekers from a business have very different purposes (aasb, 2016). Main requirements prescribed by the amendment Economic resource and claims of an entity can help all users to find out the business entities financial strength and weaknesses and such information is very useful to determine the liquidity and solvency status of the entity. It also helps to determine if the entity is required to be financed additionally and if such finance is provided then the entity will prosper to what level and what way the finance will also arrive to the entity. Economic resources and claims determine future cash flows as a result of various outstanding like accounts receivable, etc. Different cash flows may come from several other resources to market and produce goods and services to various clients and customers. Financial performance determines the quantum of return an entity generates and such information is very much important to determine how the management faired to run the entity in the best possible manner. All details and information about the variability and return components will be required to be taken heed of (aasb, 2015). Financial performance is very much detailed by accrual accounting which is a reporting format for entitys economic resource enhancement. The effects of cash receipts and payments taking place in different periods are part of accrual accounting. Information about the entities about cash inflow and outflow, repayment of debt, general cash payments and dividends, repayment of debts and borrowed money determines the entitys operations, assessment of its liquidity, solvency and interpretation about financial performance. The consequential effects of the amendment The financial reports will furnish entitys economic information on its economic resources and conditions. The qualitative characteristics of useful financial information justify the types of information those are extremely useful to lenders, other creditors, existing and would be investors. A few financial reports included self explanatory material information which is just meant for management and board to take decisions for the future operations of the business. The financial information must be understandable, verifying, useful and present on right time and also comparable with previous similar periods for better analysis of the entire financial information provided in such reports for those particular entities (charteredaccountants, 2016). Faithful and relevant financial reports and statements are most important which are useful for taking decisions on the basis of values confirmed and predicted or anticipated. The anticipation value is used to look into the future of the entitys financial status and determines the future financial condition or say outcome of the financial impact in future. The reports should be faithful in nature which means that the reports can be error free, complete and correct or neutral. The reports should be absolutely transparent so that the management can be able to maximise the qualities achieved. Neutral report should be like unbiased reports without any partial inclination. Complete report means like reports with all basic data required understanding the entity correctly. Error free report means freeness from all possible unwanted errors. Thus Faithful report means exact report error free and perfectly accurate. References: aasb, 2009. Intangible Assets. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB138_07-04_COMPjun09_07-09.pdf [30 Augustus 2016]. aasb, 2015. Conceptual Framework for Financial. [Online] www.aasb.gov.au Available at: https://www.aasb.gov.au/admin/file/content105/c9/ACCED264_06-15.pdf [30 Augustus 2016]. aasb, 2016. Conceptual framework. [Online] www.aasb.gov.au Available at: https://www.aasb.gov.au/Pronouncements/Conceptual-framework.aspx [30 Augustus 2016]. charteredaccountants, 2016. AASB 138 Intangible assets. [Online] Available at: https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Australian-accounting-standards/Analysis-of-AASB-standards/AASB-138-Intangible-assets?standard= [30 Augustus 2016]. charteredaccountants, 2016. Conceptual framework. [Online] www.charteredaccountants.com.au Available at: https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Current-issues/Conceptual-framework.aspx [30 Augustus 2016]. DellAtti, A. Pastorelli, E.S., 2006. ACCOUNTING FOR INTERNALLY GENERATED INTANGIBLE ASSETS ACCORDING TO AASB 138. [Online] www.academia.edu Available at: https://www.academia.edu/11781988/ACCOUNTING_FOR_INTERNALLY_GENERATED_INTANGIBLE_ASSETS_ACCORDING_TO_AASB_138 [30 Augustus 2016].

Do We Need More Space Essays - Spaceflight, Human Spaceflight

Do We Need More Space? Do we need more space? The National Aeronautics and Space Administration, or NASA for short, plays a necessary and vital role in human life. It provides economic stability for the country, the common-day luxuries we have all come to expect, medical discoveries and advances, an insurance policy for the planet, and fulfills mankind's eternal desire for exploration. Though there are many critics of the federally-funded space program, it indeed plays a central role in both the history and the future of the country. The space program is a major component in our country's economic stability. The industry generates more than $40 billion in annual exports, and almost $30 billion in positive balance of trade each year. (FAQs 1) The space program also supports nearly one million jobs. (FAQs 1) Yet, NASA's funding represents only about one penny out of every dollar in the US federal budget. This is down from a peak of about four cents during the height of the Apollo program in the late 1960's. (FAQs 1) The dissolution of NASA, along with destroying these one million jobs, would cost the country approximately $70 billion in revenue each year. New industries have been built on the technology that made space exploration possible, including personal computers, advanced medical equipment, and high-tech communications. NASA's research and development generates jobs, demand for goods and services, and new opportunities for further research and development. The space program had and continues to be a strong i nfluence on the economics and prosperity of the country. The applications of the space program have a profound effect on human life as we know it. In just a few short years, our lives have been significantly changed by space technology. The space program is responsible for the orbiting spacecraft that transmit information such as phone calls and television signals around the globe with speed and precision. Other satellites monitor the weather, and the world wide condition of the atmosphere. This provides advance warnings of major, possibly catastrophic, weather phenomena. Along with data on current weather patterns, satellites can forecast problems with the atmosphere that may create problems in the future. Present day satellite-based navigation systems aboard planes and boats enable people to determine their exact location and heading accurately. This improves safety and makes travel more efficient. In more ways than one, the space program has an immediate effect on many aspects of our life. Research by the space program into the medical sciences affects all people. NASA is currently running experiments aimed at improving our quality of life and life expectancy. For instance, the Visual Sciences Department is working on a premise that the weightlessness of space would have a positive effect on the retinas of the human eye, causing less blindness and poor eyesight in humans by negating the pull of gravity. (Vision 1) The Department of Immunology has a theory that the human immune system is strongly influenced by environmental factors such as pollution, and space living would increase the strength and immunity of humans. (Immune 1) Perhaps the largest area of study at this time is from the bone and calcium studies, relating bone loss to gravity, and noting how bones respond to weightlessness. (Calcium 1) These projects, along with countless others currently being studied, will have a lasting effect on humankind. A different, yet valid argument was made by Ms. Sylvia Engdah l, Professor in Space Studies at Princeton. Her view on the importance of space flight centers around the need for insurance for mankind. There are still very real possibilities that the earth could be destroyed by nuclear war, terrorist attacks, or even an asteroid. We all hope and believe that our homes won't burn down, and yet we buy fire insurance. Does not our species as a whole need an insurance policy? (Engdahl, 1) This is an interesting theory and a valid point, but we obviously have a ways to go before space is ready for a mass exodus from the planet earth. Historically, Americans have always been explorers. Going back to our Native Americans crossing the land bridge of present day Alaska, the Viking exploration of the east coast, Columbus, and fellow explorers looking for a passage to

Negotiation. Hofstedes Cultural Model in Negotiations

Negotiation. Hofstedes Cultural Model in Negotiations Introduction Negotiations are important avenues through which different parties can mutually agree to a solution after holding discussions. Negotiations are often held between interested parties with a view of achieving positive results at the end of the process. Culture may affect the level of success of a negotiation, particularly where the parties involved hail from different cultural backgrounds.Advertising We will write a custom essay sample on Negotiation. Hofstede’s Cultural Model in Negotiations specifically for you for only $16.05 $11/page Learn More This paper seeks to discuss in detail the concept of negotiations by specifically analyzing the significance of Hofstede’s cultural model in negotiations, addressing impasses in negotiations, and examining relationships and their significance during negotiations. Hofstede’s Model of Culture and Its Impacts There are four dyads of cultural aspects, according to Hofstede’s cult ure differentiation model. These include masculinity against femininity, long term orientation against short term orientation, individualism against collectivism, and uncertainty avoidance index (Steers and Nardon 137). Masculinity against femininity focuses on a culture’s emotional roles distribution between the genders. Masculine cultures have specific characteristics, such as assertiveness, competitiveness, and power, whereas feminine cultures characteristically give more emphasis on quality of life. Examples of masculine societies include Germany and the USA, while Sweden is a feminine society (Steers and Nardon 137). Longs of collectivistic cultures include Latin America and Indonesia, while individualistic cultures include Australia and the Scandinavian countries (Steers and Nardon 137).  Uncertainty avoidance measures the scope of a people’s feeling of threat out of situations that are uncertain.Advertising Looking for essay on business economics? Let 's see if we can help you! Get your first paper with 15% OFF Learn More Where a society is considered as having low uncertainty avoidance, the subjects tolerate ambiguity and there is little need for regulations in order to put uncertainty into check. Examples of such societies include the United Kingdom and Singapore. High uncertainty avoidance societies, on their part, are intolerant where there is ambiguity, and it requires many regulations to control uncertainty. Such societies include Greece and France (Steers and Nardon 137). Significance on International/Multi-Cultural Negotiations Hofstede’s dimensions are significant in minimizing cultural conflicts between countries. There is a greater possibility of misunderstandings emerging where individuals from different societies meet for negotiations since cultural practices and beliefs vary. Through understanding this model, such misunderstandings are minimized because individuals get to learn about cultural practices of other countries and learn to appreciate them. Thus, participants will be keen on the verbal cues, as well as the non verbal cues that they choose during negotiations.  For instance, an American who is highly individualistic and who negotiates with an Indonesian may likely consider his personal interests as taking precedent in their discussions. The Indonesian, however, may shelve his own interests in favor of collective benefit. This may prompt the American to consider him a coward, which may not augur well for the negotiations. Understanding Hofstede’s cultural model, however, will make both parties understand and respect each other’s position in their negotiations. Impasses in Negotiations It is possible to determine the most appropriate time when negotiations would require third party involvements. Several pointers to this effect exist, including a stressful or emotional situation, when the participant lacks the appropriate expertise required for the negotiation, and when a participant’s strategy is failing. In the first instance, where the situation seems to be emotional, a participant’s rational thinking is likely to be affected by the situation. A third party involvement would, thus, help in making the discussions clearer to the advantage of the participant.  Lack of technical skills, on the other hand, may deprive a participant the advantage of negotiating from an informed position. A third party negotiator in this instance, therefore, would involve a person who is highly skilled in the aspects being negotiated and whose arguments are made from an informed position. A doctor, for instance, would argue on health matters from a point of understanding compared to the contributions that a teacher would give on the same topical issue (Dietmeyer 112).  Equally, when a negotiation strategy fails, it is important that a third party negotiator is involved in order to ensure the objectives are attained.Advertising We will write a custom essay sample on Negotiation. Hofstede’s Cultural Model in Negotiations specifically for you for only $16.05 $11/page Learn More The third party negotiator must have adequate understanding on the negotiations such that it would be easy for him to employ alternative strategies until the anticipated results are achieved (Dietmeyer 112). Forms of Third Party Involvement Third parties may take part in negotiations through mediation or arbitration. While acting as mediators, the third party negotiator seeks to build up mutually satisfactory solutions such that the parties to the negotiations may easily arrive at a conclusion. For instance, a mediator would seek to establish an agreeable solution for both parties where workers withdraw their services because they demand a 50% increase in salaries, yet the employer can only add 20%. This may be done by suggesting a 30% pay increase. This would call for the workers to climb down from thei r initial position of 50%, while imploring on the employer to include an additional 10% to the previous position of 20%. Third parties may also participate in negotiations as arbitrators, where they act by dictating outcomes. Arbitrators enjoy immense powers because the solutions they offer to a negotiating party are final and have to be adopted even though they may not be acceptable. In an election dispute, for example, an arbiter may decide that a particular candidate is the winner and the solution offered will be allowed to stand even though the candidate ruled against may not be in agreement with the decision. Relationship Building and Negotiations Relational contexts during negotiations may be considered as integrative or distributive. In an integrative context of negotiation, the parties assume greater cooperation and trust and relations are given priority (Schermerhorn 350). This contrasts with a distributive context, where hard positions during the bargaining are adopted. Th e parties involved often lack past interactive relationships and are least expected to forge any interactive relationship (Schermerhorn 350). Manifestation of the negotiation process Negotiators in an integrative context focus more on value creation during the entire process. Their idea revolves around expanding the subject of their negotiation such that both parties may emerge as winners at the end of the process.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Each party begins the negotiating process by understanding the interests of the other party such that this takes the center stage rather than focusing on their individual arbitrary starting positions. Strict observation of the objectives is significant in achieving successful results for the whole process, even though the entire negotiation process will look at the issue at hand as a common problem (Schermerhorn 350). This negotiation process involves both parties seeking to outdo the other in order to benefit more. The parties regard each other as adversaries more than partners, with the negotiations adopting hard line positions from the onset (Schermerhorn 350). How to earn trust in a relationship One way through which parties to a negotiation can earn trust in order to bolster relationships is by minimizing on perceptions and the effects of stereotypes. Negative consideration of others will only create a counter reaction, which ends up creating conflict. Negotiators can adopt use of pleasant adjectives, such as honorable or brother, to portray their positive perception towards the other party (Movious and Susskind 98). Recognition of the other party’s legitimacy is also significant in earning trust and bolstering relationships in negotiations. This equally creates a situation where the other party considers its counterpart as legitimate, and therefore opens up fully without any kind of fear (Movious and Susskind 99). All the necessary details required during the process will be issued by both parties, making the negotiation healthy altogether. Number of Parties in Negotiations Types of parties Several types of parties involved in negotiations exist, including agents and constituencies, and negotiating dyad. Agents and constituencies refer to a negotiation type where the negotiator involved is acting on the behalf of another party. The individual involved in the actual negotiation is referred to as the agent, while those represented are the constituen cy (Gelfand and Brett 214). Another type of negotiation by party composition is the negotiating dyad, which involves two individuals actively and directly involved in the negotiations. Such negotiations often center on the needs and interests of the participants. The diagram below depicts a negotiating dyad structure. Source: Lewicki, Barry, and Saunders (2010) How the Parties Shape Pending Negotiations Agents begin by negotiating with the constituents whom they seek to represent in another negotiation, where the collective view of what is intended in the negotiation is determined. The agent next establishes a relationship with the other party in the negotiation in order to reach an agreement. Measures to lessen complexities in multi-party negotiation Complexities can be eliminated by ascertaining the compatibility of the two parties where constituents and agents are involved. This means both parties must be understanding each other properly and be ready to work together as agreed between them. The contract binding the two must also be clear. Clarity of the contract should involve spelling out the expectations properly and determining the terms and conditions of the cooperation. It is important to provide the agent with the discretion to design, as well as develop the overall negotiation process since he or she will assume the full responsibility of a party to a negotiation, thus the need to have the discretion. Conclusion Negotiations are part of an important discussion that brings together individuals or parties in their bid to achieve a common goal over a divergent issue. It is important for parties to a negotiation to prepare adequately before engaging each other in order to achieve quality negotiations. Preparations aim at creating trust and building relationships. Understanding the culture of parties involved in a negotiation is important as it aims at reducing conflicts that mainly occur through assumptions or stereotypes. It is important to include te rms and conditions of the relationship as a measure of reducing conflicts where third parties are involved. Dietmeyer, Brian. Strategic Negotiation: A Breakthrough Four-Step Process for Effective Business Negotiation. New York, NY: Kaplan Professional. 2004. Print Gelfand, Michele and Brett, Jeanne. The Handbook of Negotiation and Culture. Stanford, CA: Stanford University, 2004. Print. Lewicki, Roy, Barry Bruce, and Sauders David. Negotiation. New York, NY: McGraw-Hill, 2010. Print. Movious, Hallam and Susskind Lawrence. Built to Win: Creating a World-Class Negotiating Organization. Boston, MA: Harvard, 2009. Print. Schermerhorn, John, R. Exploring Management. Danvers, MA: Wiley. 2010. Print. Steers, Richard M, and Luciara Nardon. Managing In The Global Economy. New York, NY: M.E. Sharpe, Inc, 2006. Print.

The Music & Entertainment Manager - research project proposal

The Music & Entertainment Manager - project - Research Proposal Example In recent times, one of these issues can be said to be online music piracy. The piracy of music generally refers to the act of copying and distributing copies of music for personal gain without the consent of legitimate copyright owners of the music (Kreitz & Niemela, 2010). Online music piracy can therefore be said to be the use of the internet or other online portals for music piracy activities (Chase, Mulvenon & Hachigian, 2006). Even though the effect of online music piracy can be appreciated to be vast and widespread, the research seeks to put a very specific spotlight on the entrepreneurial investment in the music industry. In effect, the research will look specifically at the impact or effect of online music piracy on the entrepreneurship and funding of music projects in the UK. As noted by Duckworth (2005), music as an industry is a well branded business which require a lot of financial investment to succeed. But as to whether the issue of online music piracy is a disincentiv e for entrepreneurs is a question that the research will explore. The aim of the study will be to find the direct effect of online music piracy on music entrepreneurship and funding of music projects in UK. To achieve this aim, the following specific objectives will be targeted. There is a historical context to the effect of online music piracy on sales where The Institute for Prospective Technological Studies, which is part of the European Commission’s Joint Research Centre, published a report suggesting that online music piracy does not hurt sales (Ernesto, 2013). Since this publication, there have been several other academic and professional discourses to debate the real economic impact of online music piracy on the music industry as a whole. The proposed study there comes with the significance of contributing to the ongoing public discourse. The study will add much economic contexts to the subject by looking at how