Negotiation and Pitching Strategies in Business

Pitching and Negotiation Skills
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Table of Contents
Introduction......................................................................................................................................4
L01...................................................................................................................................................5
P1 Determine what is a negotiation, why it occurs and who the key stakeholders are during a
negotiation process......................................................................................................................5
P2 Evaluate the key steps and information required for negotiating and generating deals.........6
M1 Present a concise rationale for the negotiation process, including detailed steps that
organisations go through during a negotiation process and the information required in
preparation...................................................................................................................................7
D1 Critically evaluate the steps of the negotiation process and present valid solutions for
dealing with issues that can arise.................................................................................................8
LO2..................................................................................................................................................9
P3 Explain the RFP process and the relevant types of documentation required.........................9
P4 Explain the contractual process and how relevant documentation is managed and monitored
...................................................................................................................................................10
M2 Apply the RFP process within an organisational context, outlining the key documentation
required and consequences of breaching the terms of agreement.............................................11
D2 Critically evaluate the competitive tendering and contract process and make
recommendations for completing a successful tender with minimal risk..................................12
LO3................................................................................................................................................13
P5 Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge............................................................................................................................................13
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M3: Examine the pitch process in an organisational context, evaluating ways to maximise the
chances of a successful pitch.....................................................................................................14
D3 Develop a dynamic and creative pitch that is both concise and persuasive to achieve a
sustainable competitive edge.....................................................................................................15
LO4................................................................................................................................................16
P6 Assess the potential outcomes of a pitch..............................................................................16
P7 Determine how organisations fulfil their obligation from a pitch, identifying potential
issues that can occur..................................................................................................................17
M4 Recommend ways in which an organisation can fulfil their post-pitch obligations,
highlighting any potential issues...............................................................................................18
D4 Critically evaluate the pitch and post-pitch outcomes to determine potential issues and risk
management...............................................................................................................................19
Conclusion.....................................................................................................................................20
References......................................................................................................................................21
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Introduction
The assignment will deliberate an understanding of the concepts of negotiation and pitching.
Both the concepts are an integral element of the business and its environment. The assignment
will enable to learn about the concepts and their application in the real business. The assignment
will enrich the knowledge about the various aspects of negations, its process, key stakeholders,
pitching and its application in the business.
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L01
P1 Determine what is a negotiation, why it occurs and who the key stakeholders are during
a negotiation process.
Negotiation can be termed as settlement or an attempt towards the settlement between two or
parties in order to achieve a satisfactory outcome. Negotiation is carried out to settle an issue that
occurs between two or more parties. The negotiation involves settlement in favour of one or all
the parties involved. Negotiation is undertaken to resolve the conflict between the parties and
arrive at an outcome. Both the parties involved lose some and gain some interests in the outcome
achieved. The process of negotiation can be successfully and it is dependent on the degree of
trust and compromise made by each party involved. Negotiation comes into action due to various
reasons and factors, these are discussed as below:
 Beneficial Factor- Negotiation is a beneficial factor to both the parties involved. It is a
process through which the conflict resolution takes place. The parties involved in
negotiation are benefited in the process of negotiation due to the advantage of comprising
made by each party. The parties achieve some parts of their interests with a little
compromise.
 Win-win situation- Negotiation is not about eliminating one party out of the conflict.
The process involves the benefit of all the parties involved and creates a win-win
situation for everyone involved.
 Dispute and conflict resolution- Negotiation is a conflict resolution technique. Any
conflict can be resolved with the application of negotiation (Ting‐Toomey, 2015). It
enables to come at a meeting point for the parties involved. It is not a complete disregard
of the interests of any one party and thus proves to be an effective technique of conflict
and dispute resolution.
The key stakeholders in the process of negotiation are the parties involved in the conflict or
dispute. The key stakeholders may also be the representatives of the parties involved in the
process of negation.
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P2 Evaluate the key steps and information required for negotiating and generating deals.
The process of negotiation is a well-structured and systematic process. The parties involved in
negotiation are most likely to achieve successful results. The process includes preparing and
planning as the first step. This determines the information and details that are required in the
process of negotiation. The next step is to define the ground rules which entail the determination
of the location, time limits, off topic limits, the offering price, bottom line etc. The next step is to
provide with clarification by both the parties in order to justify their interests and demands and
the offers bided by them. The next step is to provide with bargains to the opposition party in
order to achieve the maximum of interests and offer price (Pruitt, 2013). The problem-solving
procedure is carried out in order to arrive at an effective outcome for both the parties involved.
The last step is to close the process of negotiation by preparing the documents and listing the
agreements and legally implementing the outcome son the parties involved.
The information that is required in order to generate the deals for the negotiation is as follows:
 The history and background of the parties involved
 The documents regarding the conflict or dispute
 The offer prices of both the parties
 The bottom line of the offer
 The negotiation contract
 The details of previous contracts and agreements etc.
Thus it can be stated that negotiation is an effective technique to resolve the dispute between two
or more parties. It provides with ample opportunities to the parties involved in order to satisfy
their interests and profits.
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