Pitching and Negotiation Skills

This document discusses the importance of pitching and negotiation skills in business organizations. It defines negotiation and its occurrence, as well as the stakeholders involved. It evaluates the key steps and information required for effective negotiation. It also explores the RFP procedure and necessary documentation. Additionally, it covers the development of an appropriate pitch and the evaluation of possible results of a pitch negotiation. The document is based on a small business organization named Rowlinson Knitwear operating in the United Kingdom.

PITCHING AND
NEGOTIATION
SKILLS
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Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Define negotiation along with its occurrence as well as stakeholders.............................3
P2. Evaluation of the key steps as well as information..........................................................5
TASK 2............................................................................................................................................7
P3. RFP Procedure and documentation required....................................................................7
P4. Explanation of Contractual process and management and monitoring of documentation9
TASK 3..........................................................................................................................................10
P5. Development of appropriate pitch..................................................................................10
TASK 4..........................................................................................................................................11
P6. Valuation of possible results of a pitch..........................................................................11
P7. Purpose of how business organisation fulfil all their obligation from a pitch in an effective
manner..................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
Pitching define as the process of presenting the idea in an appropriate manner related to
the business procedure to various individuals like customers, investors, clients, and various other
individuals related to the stakeholders. This process has very effective potential in order to
inspire an optimistic insight as well as behaviour of the individual people towards the commodity
in reference to the thought or by offering pitched. But in case of negotiation refers to the
procedure undertaken by individuals in a business entity in order to ensure reconciliation of
differences among various parties as well as come to a similar ground. In the present report a
small business organisation named as Rowlinson Knitwearis chosen which operates its function
in United Kingdom. The present report is prepared on the basis of purpose of negotiation
associated with the stakeholders. In addition to this, the report includes analysis of key steps
&information needed for negotiating. Along with this explanation of RFP procedure as well as
necessary documentation and discussions in relation to contractual procedure. At last, the present
report is also including preparation of a pitch in order to attain competitive advantages in
addition assessment of the result of pitch negotiation.
TASK 1
P1. Define negotiation along with its occurrence as well as stakeholders
It is said that in reference to the business context, negotiation define as the effective and most
beneficial method which help business organisation in order to attain a settlement associated
with various procedures with the assistance of adopting effective strategies linked with
cooperation and collaboration. It has also been said that in relation to the small business
organisation for example, Rowlinson Knitwear, it is defining as the negotiation skills among an
individual person within the business organisation are essential as the business entity can
effectively experience some advantages as well as benefits for the similar and can attain
organisational goals and objectives in an effective and appropriate manner. Some of the most
essential are going to be discussed as follows:
 The first and most effective element which assist in getting benefit for the business entity
is that the business organisation can effective as well as appropriately ensure that they
can retain higher employees with the help of negotiating in an effective manner. This
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could be done in terms of salary as well as some other benefits given to the employees of
the organisation.
 Along with this, it has also been said that with the assistance of negotiation, it can be
ensure that ensure that there might be development of better and positive customer
relationship which leads towards the attainment of pre define goals and objectives of the
company.
 Furthermore, another benefit gain by the business organisation is that they can crack
better deals with their investors, clients and customers with the assistance of practising
negotiation in an effective and well defined manner.
Furthermore, it has been said that there are various different reasons which says that why
negotiation arise within the small business entity. Therefore, the very first and initial reason
linked with the fact that it has been identified that there are ample number of situation arise at the
day to day functioning of the organisation in which more than one decision are there to choose
from which is quite difficult for the higher authority or for the management team. This as a
result, need that the management team requires to communicate effectively which increases the
scope of better and most suitable scope for the process of decision making. In addition to this,
there are various sort of ideas and thought pitched by the staff members on a regular basis which
can be quite beneficial for a single party but not enough beneficial for the other one. This as a
result need appropriate and effective negotiation as to when and how an effective as well as
beneficial results could be attained by the business entity within given time frame and in
effective manner.
Apart from this, it has also been there are various types of stakeholders in reference to a
business entity, which mainly linked with the whole procedure of negotiation. For instance, In
relation to the context of Rowlinson Knitwear, it has been analysed that the stakeholders which
are employees of the company are linked with the negotiation procedure in context of salary
conflicts and disputes. In addition to this, different individuals are linked within this which are
going to be discussed as follows in an effective manner and with appropriate justification. CEO (Chief Executive Officer): It is said that the most prominent and effective
stakeholder of a business entity which are linked with the whole procedure of negotiation
is the CEO of the company. Reason behind this is that they are the one who are highly
responsible in order to authorise the staff member’s payment, formulation of policies and
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many more. Therefore, it has been concluded that they are the most important element in
the process of negotiating for the salary of staff members. Finance Manager: Another most essential stakeholder who are linked with the similar is
organisations finance manager who have the power and authority to regulate the finance
within the business organisation in an effective manner. in context of negotiation they are
the individual who act as the key role while negotiating with the staff members in term of
salary as they are the one who provide all the money and finance required in the
organisation. Human Resource Manager: Apart from the CEO and finance manager another most
important individual associated with the organisation by ensuring that every staff member
and worker can understand the view point of the organisation as well as encourage them
in order to settle in an effective and appropriate manner. This will assist in gaining
benefits by the business entity in an effective manner.
 Employee or staff members: At last employees are the most essential and necessary
stakeholders for a business as the whole procedure of negotiation is developed as well as
executed for the employees of the organisation in reference to their pay or salary
disputes.
All these stakeholders are quite essential for the whole business entity as they are linked
with the functioning of business entity and the whole negotiation process are done in an
effective manner so they can attain benefits and advantages in an effective manner.
P2. Evaluation of the key steps as well as information
It is said that negotiation define as one of the most essential and crucial aspect which need to
be effectively and appropriately understood as well as execute among the small business entity
so that they can ensure that there might be an effectiveness within the organisational procedure.
Therefore, there are various other phases which need to be executed by the management team
among Rowlinson Knitwear while doing negotiation which are going to be discussed as follows:
 Planning:
It refers to the very first stage which is linked with the procedure of planning; consist of
organising, accumulation of various effective as well as appropriate data and information
which is quite necessary for the overall business procedure such as investment reports,
productivity reports and many more. Furthermore, all these parties are linked with the
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process of negotiation and are required to develop themselves in more way, which help in
ensuring validity as well as relevance to the customers. Therefore, it is necessary for the
business entity that they must take 360degree feedback approach so that they can gain
effective information and data.
 Ground Rules:
It has been said that there is various sort of ground rules which needs to be pre-set by the
organisation which is before the negotiation as well as after the process of planning. It has
been said that the address areas are like place, possibilities, time, and anticipated conflicts
and so on. These elements need to be considered by the higher authority in an effective
manner.
 Clarification:
This is the steps which consist of justification as well as clarifications from both of the
business parties where they can effectively explain themselves as well as their thoughts in an
appropriate manner. Along with this, they can educate each other in reference to their
perception as well as motives for negotiating. It is the phase where all the required data and
information from the view point if staff members will be the annual report in context of the
employee retention as well as productivity. On the other hand, in reference to the managers
as well as CEO, all the information related to the investment report are going to be assist in
the whole process of negotiation.
 Problem Solving:
Another step of negotiation, is the problem solving process where the parties who are
involved in the procedure of negotiation are doing bargaining so that they can effectively
develop a lose win situation for both of them. This is quite essential as well as effective step
of the problem solving phase which assist in solving the issues and conflicts. It means that
the data and information which are offered mutually by both the parties will be linked with
their apparent remunerations. For example, if the information or scenario mentioned above
are effectively showcase by them, them the staff members will be able to show the
information associated that how a business entity can gain benefits and advantages by
providing higher salaries to their staff members so that they can retain for long term within
the organisation. Apart from this, it has also been identified that the management team as
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well as CEO of the company will going to bargain with their staff members so that they can
remain loyal and retain for a longer period of time within the business organisation.
 Implementation:
At the end the last and final stage of the negotiation process is associated with the
implementation, execution as well as closure of the process. It is the phase where both the
parties take mutual decision on the topic by sharing their view point and by examining as
well as reducing the problems face by both the parties while doing negotiation. Among
this step, both the parties take mutual decision where a new agreement is going to be
formed so that goals and objectives can effectively be attained by them in an effective
manner as well as within given time frame.
TASK 2
P3. RFP Procedure and documentation required
Request For Proposal (RFP) is comprehensively said to be as the written business
document, that clearly provides detailed information about the particular projects. This document
mainly covers information related to bids attained from several from several contractors, who
could help the firm in achieving the same needs in an effective manner. Every business person is
required to emphasise on executing several types of steps for developing effective Request For
Proposal (RFP). While developing effective Request For Proposal (RFP) for Seldom Interiors
the common steps that are followed by the company are specified as below:
 Assessment and Analysis:
This is the first and foremost steps which have been followed for developed effective RFP. This
process is mainly linked with the step of analysis as well as planning process of the whole
project in rightful manner. With reference to the given information on the case study it can be
said that the respective manager of entity emphasizes on refurbishing their premises for which
they are wishing to influence Seldom interiors so that they can provide a new look to the
respective company. It can be said that this step is highly important for the project as it provides
appropriate foundation idea to the respective project. In addition to this, it can be later said that
the execution of the documentation must include information about the whole project plan,
budgeting, business case, timeline etc.
 Development of RFP:
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After going through effective analysis of the whole project plan, the next step is to
emphasise on drafting the RFP related to the same that could provide adequate level of
guidance towards the scope, performance standards, deliverables, etc. all of this would be
effectively communicated to the certain investor for the future bidding. The respective must
include information associated with the statement of purpose, contractual terms as well as
condition, review timeline and many other associated things.
 Engagement:
At this stage, the developed RFP is being communicated to the all investors as well as
vendors. This conversation would include information associated with the submission of their
project along with the date; it also includes overall completion of the project as well as
responses associated with the same. Moreover, it can be said that the respective step is also
consist of face to face conservation with the finalised investor. This is so because, by having
detailed information on the project investors can easily get encouraged to invest amount to
the firms plans. In addition to this, the respective step is also useful in resolving doubts and
question mark created on the same. Also, documentation of the RFP includes information
associated with the income statement as well as Return on Investment so that they can easily
crack good deal.
 Negotiation and Contract:
After developing knowledge on the responses, the step is to indulge into the negotiations
activity with the motive of ensuring that it is feasible for them in every manner. Moreover,
after finalising the best suitable investor, the respective business entity emphasises on
indulging into the agreement on contractual basis.
The overall process of the business proposal which is going to be drafted in specified as
below in detailed in manner:
BUSINESS PROPOSAL
Objectives Here, the respective business entity believes in refurbish their
premises with motive of the changing their overall look,
Solution
For doing so effectively, the entity requires feasible amount of
money with which they can easily improvise their interiors and
attract maximum number of client with its look.
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Benefits
By refurbish the offices; the respective company can easily attain
higher profitability in such a manner as they will be able to influence
interest of the client and suppliers towards them effectively. This
would definitely increase their profitability in the near future.
P4. Explanation of Contractual process and management and monitoring of documentation
It has been analysed that contractual process plays essential role in the development of the
RFP as it each and every associated information into it with the motive of providing adequate
level of documentation to the associated people. Here, it can be said that business entities are
required to emphasize on developing effective contractual process so that they can develop better
document related to it. In addition to this, appropriate monitorance of the documentation must be
performed by them effective so that they can attain maximum benefits related to it in an
appropriate manner. This definitely increases benefits for the company in best possible manner.
The overall contractual process related to the same are specified as below in detailed manner:
 Contract Selection:
This is the initial step of contractual process where business entity finalises the respective
type of contract in which they are willing to indulge so that they can attain maximum level of
benefit with it in rightful manner. With reference to the provided case scenario, the respective
entity is willing to refurbish their business entity offices with the motive changing its complete
look in appropriate manner.
 Gathering of Necessary Information:
At this level, the main focus of the entity is to include appropriate acquisition of the required
information before the time of implementing the contract. In context of the present context, it is
highly important for the entity is to check out information associated with statement of work,
payment schedules, budget, acceptance of proposal, etc.
 Selection of Negotiator:
Here, the respective authorised signatories are selected so that adequate negotiation can be
made associated with binding of contract. This would definitely allow the business entity to
indulge into effective negotiation with the investors so that they agree to the payment effectively.
 Review:
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At this level, the respective business entity emphasizes on reviewing whole process of
contract. Here, the main review is made on terms and conditions which are finalised. Moreover,
the respective company focuses is to check all things in details so that required modification can
be performed on the same in adequate manner.
 Signing:
The last step is in relation to signing of the final agreement between the organisation and
the other party.
In addition to this, it can be further said that the implementation of the contract is
important for every company but at the same time they are also expected to monitor each and
every thing in such a manner so that future complication can be avoided in an appropriate
manner. This monitoring can be done effectively reviewing all things constantly with the view of
rectifying major tissues related to it. Also, the company can make use of advance form of
technology in order to check all things and can easily make required modifications as per the
core requirement towards the same.
TASK 3
P5. Development of appropriate pitch
It is highly essential for the every business enterprise to develop adequate level of pitch
with the motive of ensuring that they would effectively implement the contract within the
company in rightful manner. This would definitely contribute in gaining the competitive edge in
appropriate manner. The overall process of the pitch is specified as below in detailed manner:
 Objective Development:
At the first stage of pitching process is to develop effective objective. In order to implement
the overall process of refurbishing their offices the respective company focuses on making use of
good interiors so that they can easily make their office premises more attractive.
 Centralisation of Idea:
At this stage overall concept is developed at centralised level so that pitch can be made over
the same in appropriate manner. With reference to the current case study, it can be said that the
overall centralised idea for the same is to improvise the interior of their offices.
 Presentation Structure:
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At this level, effective presentation is developed on the same with the so that pitch effective
as per the respective objectives. In this presentation detailed information related to the designs
and its core objective behind the refurbishment of the offices have been explained to the
customers in rightful manner.
 Factual Display:
At this level adequate factual displays have been used towards the proposed plan with the
motive of pitching individuals effective. The factual display provides effective back up to the
pitch. This simply includes forecasted reports, to ensure effectiveness in the pitching.
 Feedbacks:
The main motive of the pitch is to secure the deal, thus the last step of this is to take regular
based feedback from the associated people so that they can easily check out the lack areas
effectively. This simply provides time to make modifications in the same so that they can easily
attain better output regarding the same in an appropriate manner.
Numerous principles which would be utilised alongside the steps are mentioned below:
 Regular policy updates
 Appropriate working relationships
 Effective Delegation
TASK 4
P6. Valuation of possible results of a pitch
It has been identified that there are various effective as well as appropriate results in relation
of pitching. There are some appropriate outcomes for the valuation of a pitch with the help of
which business entity can effectively negotiate with their employees, stakeholders and clients. In
the present context of Sheldon Interiors these possible outcomes are going to be discussed as
follows: No response: It define as one of the most effective as well as evident result or outcomes,
in which the employees or staff members rather than accepting the effective deal which is
offered by the business entity will showcase some other substitute methods which can be
unsuitable for a company. If this develops a consequence, then it is required by the
company that the need to reschedule their whole negotiation procedures in an effective
manner.
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 Rejection: This refers to the case which is arise when the staff members totally denies or
reject the proposal of the business organisation. In this context, business organisation
must negotiate with their workers and staff members in an effective manner so they can
develop a better and most effective pitch for the future in an appropriate manner.
 Acceptance: It is the situation where staff members and the workers will effective accept
the pitching given by the business entity further with the new deal and accept the
proposal in an effective manner.
P7. Purpose of how business organisation fulfil all their obligation from a pitch in an effective
manner.
It has been identified that there are various methods with the help of which Sheldon
Interiors can effectively fulfil their each and every duty from a pitch. In reference to the present
context of the business entity, it has been said that this could easily be attained with the help of
their post pitching rules and regulations, which need the business entity in order to ensure
appropriate follow ups, which reduce the probabilities of would-be conflict and disputes within
near future. Apart from this, it has also been said that an open ended effective pitching in context
to effective and flexible alteration in near future so that the organisational pitching will be secure
in an appropriate manner.
Furthermore, it has also been said that there are various issues arise in the whole
procedure which need to be examined as well as assessed by the business organisation in an
effective manner. Some of these are going to be follows:
 Non-accomplishment of objectives: It has been said that the main issue arise in reference
to this procedure is that the goal and objectives are not attained and accomplished. As a
result, this is the motive when requirements of staff members and workers keep modify
on a continuous basis.
 Inappropriate Image: On the other hand, another key issue in reference to this, it is said
that appealing investors might send negative as well as wrong message in order to
motivate the staff members which as a result create ineffective brand image at the
competitive marketplace.
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CONCLUSION
With the assistance of above mentioned information, it has been concluded that with the
help of all the above stated data pitching as well as negotiation are two most important elements
for a business entity for appropriately enhance the possibility of development in situation of
receiving a better deal. Along with this, it has also been said that it is very essential to identify
the negotiation concept as well as reasons for the rise in addition with the associated
stakeholders. Furthermore, examining the key steps as well as information associated with the
negotiation as it is also very important for improving the chances of developing positive
environment within a business entity. Along with this, discussion of RFP procedure, contractual
procedure as well as its documentation is needed to execute in the overall business entity. At the
end, it is necessary for a company to create an effective pitch, examine and assess its results
along with determining various ways with the help of which it could accomplish its obligation
with the help of pitching.
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