Analysis of Negotiation and Pitching Skills at Marks and Spencer

This report provides a comprehensive analysis of negotiation and pitching skills within Marks and Spencer, a prominent retail firm. It delves into the definition of negotiation, identifying key stakeholders such as customers, employees, government, and suppliers, and their roles in the negotiation process. The report outlines the essential steps involved in negotiation, including preparation, ground rule definition, clarification, bargaining, and closure. It further explores the Request for Proposal (RFP) process and the importance of relevant documentation, along with the contractual process and documentation management. The core of the report focuses on the pitch process, detailing steps to achieve a sustainable competitive edge, assessing potential outcomes, and determining how Marks and Spencer fulfills its pitch obligations. The study emphasizes the significance of effective communication, stakeholder engagement, and strategic planning in achieving successful outcomes in negotiation and pitching scenarios, ultimately contributing to Marks and Spencer's business development and competitive advantage.

PITCHING AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1. Negotiation and identification of key stakeholders during the time of negotiation process.1
P2. Key steps and information required for negotiation and generating deals...........................2
P3. RFP process and the requirement of relevant type of documents.........................................3
P5. Pitch process to achieve sustainable competitive edge.........................................................5
P6. Assessment of potential outcome of pitch............................................................................6
P7. Determining Marks and Spencer fulfilling obligation of pitch.............................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Pitching and negotiation means mixing of divergent positions on joint agreement under a
decision rule of unanimity. This process is been undertaken by various businessman in an
organisation in order to resolve issues so that they can gain advantage on individual and
collective basis. Present study will lay emphasis on negotiation and pitching skills been followed
in Marks and Spencer. It is one of the most popular retailer firm that is been establishes in
Westminster, London (Jackson and Rucks, 2015). Report will highlight context of negotiation
and who are the key stakeholders during the time of negotiation. It will lay focus on RFP
document and different type of documentation required. Assignment will develop an appropriate
pitch applying key principles to achieve competitive edge.
MAIN BODY
P1. Negotiation and identification of key stakeholders during the time of negotiation process.
Negotiation has been derived from the Latin word neg (no) and otsia (leisure) which
means that the businessman working in Marks and Spencer has not leisure time for themselves. It
is where two people agree on the same thing to reduce differences between in them so that
competitive edge can be achieved. Negotiation in firm can be done on internal and external basis.
It can be done with suppliers, stakeholders, investors, customers and many more. It is often
conducted by putting forward a position and making concessions to achieve an agreement.
Reaching to solutions determine whether negotiation are successful or not. This process occurs in
Marks and Spencer to reach to ultimate solution and gain competitive advantage by sacrificing
something.
Stakeholders during the time of negotiation process
Marks and Spencer is a public limited company. Stakeholders or shareholders are
engaged in decision make process of firm. They are the main owners of company. Negotiating
with them is very necessary for retailer organisation. This can support them in gaining
competitive edge. Negotiation changes in workforce and methods of doing task is one of the
most hectic challenges that can be faced by implementation department of company. Key
stakeholders that needs to be negotiated are;
Customers: Marks and Spencer must get engage in negotiating with their clients so that
they are better able to understand the changes that have been implemented by company. They are
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the most important people with whom firm needs to agree on same point in order to gain
competitive advantage.
Employees: While implementing strategic changes in the organisation, supervisors and
managers of Marks and Spencer needs to negotiated with employees in order to sustain and
retain them (Jackson and Rucks, 2015). This can support them in acquiring more new workers
during the time of changes. Also, they will assist firm in time of crisis.
Government: Negotiation can also be done by government in order to make them agree
on same terminology that Marks and Spencer wants to implement. This can support organisation
in increasing their growth and also government will come in support for them (Li and et.al.,
2017).
Suppliers: Marks and Spencer needs to negotiate with suppliers for various reasons like
reducing the price of raw material or any other necessary product required in the company. This
can assist them in saving cost and increasing operational efficiency.
P2. Key steps and information required for negotiation and generating deals.
Negotiation process involves making various stakeholders like investors, suppliers,
employees, government and customers agree on the same term as Marks and Spencer.
Negotiation can support organisation in building relationship with internal and external people
in business (Li and et.al., 2017). It can reduce the difference and gap between them and also
support them in enhancing their efficiency and productivity. This process requires several steps
that includes the following:
Preparation and Planning: It is the first step in the negotiation process. Marks and
Spencer needs to prepare and plan in order to negotiate with stakeholders. For negotiating with
the information contained by the organisation must be powerful so that there claims can be
validate. Stakeholder and company both should have keen knowledge about their history. They
can also involve in trying figure out solutions for the problem.
Definition of ground rules: Marks and Spencer while involving in negotiation process
with stakeholders needs to determine the ground rules. Rules can be based on sharing of profit or
mutual agreement between each other. All these rules and regulations needs to be adhered by
both the parties. So that successful negotiation can be established. It includes elements like
where will negotiation take place and what happens if there is no agreement.
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Clarification and Justification: This is the third step in negotiation process. Here Marks
and Spencer and stakeholders will justify and support their original request. Opportunity should
be given to both the parties to justify the claims made by them. This will support them in
reaching ultimate solution to problem. Also, Marks and Spencer will be able to resolve the crisis.
Bargaining and problem solving: Marks and Spencer must get involved in bargaining
with the various stakeholders. They can bargain with suppliers about the prices of the raw
materials or resources (Tse, 2013).. Also, company can engage in problem solving process with
the stakeholders in order to overcome with the barriers they are facing in establishing their firm.
This can support them in gaining competitive advantage.
Closure and implementation: This is the last step in the negotiation process. Here Marks
and Spencer can engage in coming to the ultimate solutions to the problem. Also, they can
implement changes after completion of this step. Crisis can be resolved by them during the time
of closure. Sufficient implementation of negotiation process can support firm in gaining
competitive advantage.
Information required in negotiation process
Before engaging in negotiation process Marks and Spencer must make sure that they
have all the proper information related to stakeholder which includes shareholders, employees,
suppliers. Both the parties should have full knowledge about the goals and plans behind
negotiation (Wheeler, 2013). Also, they must have data related to where the negotiation process
will take place and time related to it. Information like what resources will be required during the
process must also be known by firm and stakeholders.
P3. RFP process and the requirement of relevant type of documents
Covered in PPT
P4. Contractual process and management of relevant documentation
Covered in PPT
P5. Pitch process to achieve sustainable competitive edge
Pitch process is one of the most important component that can be made used by Marks
and Spencer. This can support them in gaining competitive advantage. The process can help
organisation in training their employees as well as staff members to make use of various
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advanced tools in a better way (Tse, 2013). It allows industry and firm in enhancing their
operational efficiency. This process is carried out by some steps which includes following:
Request for proposal: This step defines that company must engage in preparing request
for proposal. In the pitch process Marks and Spencer must get involve in meeting potential
stakeholders so that they can have a knowledge about how these people can help them in solving
their problems. This will support firm in gaining competitive advantage. It may increase the
efficiency of firm.
Chemistry meeting: Marks and Spencer should give sufficient amount of time to their
agencies to pitch so that they would be able to deliver better results. Continuous support must be
given to agencies during the time of pitching (Li and et.al., 2017). It will help support them in
developing and making strong relationship with their agencies. This can make firm efficient
during the time of crisis.
Initial strategic thinking: Organisation can also create competitive edge by making
agencies know about the competitors. This process can develop a competitive spirit in them.
Also, to make the pitching process more effective industry must make agencies know about the
policies and procedures which company follows so that it will be easy for them to carry out the
pitch process.
Creative presentation: Pitch process can support Marks and Spencer in gaining
competitive advantage as it is involved in making the organisations staff more effective and
efficient. Firm must get engage in making them agencies have an idea about their potential future
(Rosenbaum, 2013). So that they can perform the pitch process better. This can support firm in
organisational development. Marks and Spencer must make their agency know about the
indicative budget. It can allow agency to carry out process in that budget only.
P6. Assessment of potential outcome of pitch
Pitch process can assist Marks and Spencer in making their employees more effective and
efficient while conducting any meeting with suppliers or stakeholders. For making the pitch
successful the company must make sure that no post obligation is been created. Communication
during the pitch should be effective, in order to make sure that every relevant information related
to firm is known to both the parties. For example Any miscommunication between the agency
and the company can create chaos between them and this might hamper industries. Also, it can
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make working efficiency of employees weak. It can create serious concerns in Marks and
Spencer, so firm must take care of pitch post obligation.
Pitch process can support firm is solving their issues so that they can better able to
perform. It can make an organisation self efficient. Also, giving training to employees by the
agency in pitch process can encourage and motivate them to perform better. This can support
workers in increasing their confidence and potential level (Wheeler, 2013). Marks and Spencer
after completion of pitch process must ask investors about what they liked and related to. They
must get involve in taking feedback related to pitches in order to improve it. Working on
feedback can enhance the productivity and profitability for the firm. They can earn higher
revenue on the basis of it. After completion of meeting industry must be engage in keeping the
notes so that they can work upon it. Not keeping the notes can hamper the working aspects of
Marks and Spencer. By this they can lose their investors.
P7. Determining Marks and Spencer fulfilling obligation of pitch
Pitch obligation can be created when Marks and Spencer is engaged in ineffective
communication to their investors or agencies. This can be overcome by the organisation by
asking for feedback to these people. It can help industry or firm in improving the current pitch
and making the pitch process better (Rosenbaum, 2013). This is one of the most important task
for the company to do in order to gain competitive advantage. Pitch guidelines should be
properly communicated with the stakeholder that includes suppliers, competitors, customers,
government and employees. This can support Marks and Spencer in enhancing or increasing
their efficiency. Pitch obligation solved can make the functions of unit better
Marks and Spencer after completion of pitch process must ask investors about what they
liked and related to. They must get involve in taking feedback related to pitches in order to
improve it. It will help them in building better relationship with their agencies and firm. Also For
example not taking feedback from investors or agencies can reduce the profitability and
operational efficiency of firm. It can make negative image in the mind of consumers and people.
There business can get affected because of this. So Marks and Spencer must take care of it to
gain competitive advantage. Effective communication can support company in creating
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CONCLUSION
From the above study, it has been summarised that negotiation in Marks and Spencer has
required the involvement of stakeholder that includes suppliers, investors, government,
employees and customers. It has helped them in making their decision making process better.
Also it has supported company in enhancing their market share and profitability. Negotiation has
supported firm in solving problem with the other party. It has given them with competitive edge.
Pitch process has supported Marks and Spencer in bringing significant changes in the
organisational structure. Also miscommunication has been reduced by company that has resulted
in not creation of obligation. This has enhanced the productivity of industry or firm.
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REFERENCES
Books and Journals
Jackson, E.L. and Rucks, V.C., 2015. Negotiation of leisure constraints by junior-high and high-
school students: An exploratory study. Journal of leisure research.27(1).pp.85-105.
Rosenbaum, A., 2013. Chart the course of your negotiation. Harvard Management
Communication Letter.8(5).pp.3-4.
Tse, J., 2013. Pitching your ideas to senior management. Training & Development, 40(6), p.11.
Li, B. and et.al., 2017.October. Cooperative negotiation and control strategy of a shape-shifting
robot. In Safety, Security and Rescue Robotics, 2008. SSRR 2008. IEEE International
Workshop on (pp. 53-57). IEEE.
Genovese, J., 2014. Sports television reporters and the negotiation of fragmented professional
identities. Communication, Culture & Critique.8(1). pp.55-72.
Wheeler, M.I.C.H.A.E.L., 2013. Negotiation. Harvard Business School Publishing Corporation,
Boston.
Rakin, A.S., 2017. Effectively pitching 3600 marketing services to clients.
Fatima, S. and Rahwan, I., 2013. Negotiation and bargaining. Multiagent Systems. 143.
Online
Request for proposal. (2017). [Online]. Available through
<https://www.smartsheet.com/request-for-proposal>.
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