Pitching and Negotiation Skills - Assignment

PITCHING AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Explain negotiation meaning and key of stakeholders during the process of negotiation 1
P2 Key steps and information for negotiating and generating business deals.......................3
LO 2.................................................................................................................................................3
P3 RFP process and documentation.......................................................................................3
P4 Contractual process and documentation monitoring or managing....................................4
LO 3.................................................................................................................................................6
P5 Key principles of pitch......................................................................................................6
LO 4.................................................................................................................................................7
P6 Potential outcomes of pitch...............................................................................................7
P7 Obligation from a pitch and issues that occur...................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Pitching and negotiation skills needed to win agreeable terms and new contracts in
business. Higher authority handle the process of this activity between employee and employer.
This term is established relation between two or many other people's to get agree with daily
business transaction and deal with issues or problems in organisation. Pitching means to
understand or leasing problems of people and make to resolve it. Thus, this skills help in
managing business and make workforce innovative. Trunki make huge children products in
different types to make kids happy. (Horton, 2016). They are very famous in marketplace for
providing their good quality products. This unit explain the meaning of negotiation and its
occurs reasons in business. It also defines RFP and documentation types that is required in
organisation. Further more, organisations process of filling their obligation from pitch and
potential issues that might be occurs.
LO 1
P1 Explain negotiation meaning and key of stakeholders during the process of negotiation
Negotiation: it is an activity of making employees settle in differences. This process
helps in avoiding controversy or arguments in Trunki and reached within compromise or
settlement. These skills are very helpful for resolving the issues in business. It was beneficial for
employees and manager or other departments. Do not absorb problems, pay attention to timing,
offers and expect commitment are the techniques of negotiation (Core, and et.al., 2016). It is
very important in day to day activity of business transaction such as service delivery, sales, and
some other legal agreements. Negotiations skills help in achieving business goals and success
through build good relationship between staff members in every levels of organisation. Advocate
an employing, distributive, conflict styles, integrated, integrative etc. are the types of negotiation.
It has many other styles that helps in each and every stage of resolving or deals with problems
such as collaborating, avoiding, accommodating, competing etc. negotiation skills is played an
important role at workplace of Trunki. It gets resolved all the crisis of employees and higher
authority or between other members of the firm.
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Source: Stages of Negotiation. 2018
Negotiation occurs reasons: it gets occurs in Trunki business condition because
employees and employers decision does not match with each other it creates conflict between
both of them parties. Thus, after the process of discussion about conflict situation people does
not have any outcome. Negotiation occurs in organisation in three reasons are: how to divide or
share few assets like profit or land, create innovative or techniques of work that might be other
employee do not have, at last resolve issues or difference between the other workers. In
organisation negotiation occurs process decrease firm productivity and increase loss at every
stage of production (Page, and Mukherjee, 2014). It gets increase employees turn over and
impact on business growth. All this activity make firm image down in marketplace and
shareholder also removed its attachments within company.
Key stakeholders are during process of negotiation: in trunki negotiation process is very
helpful for solving problems and conflict among workers and other people. Stakeholders is are
three or five persons who give their opinions in business decision at every levels. Manager,
leader, or many people play their role in this function. Stakeholders of organisation is free to give
its view about applying business strategy or make new plans for achieving business goals. They
invest their money in products of company and provide firm financial stability (Badoi, 2014.).
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Illustration 1: Negotiation skills

They can speak on the side of huge group in negotiation process. Stakeholders must be
individual or group of five members.
P2 Key steps and information for negotiating and generating business deals
Key steps of negotiating: negotiation process is very beneficial for trunki growth and
success in business. They used this activity for clearing conflict at workplace and make healthy
environment for every employees (Tsuma, Pentori, and Majonga, 2017). Negotiating process
have four steps, which are: preparation and planning, definition of ground rules, justification and
clarification, problem solving and bargaining.
1. Planning and preparation: it was the first stage of this process. Trunki employees
and employers both organize their information about business conflict to have an
effective negotiating. Organisation make planning for discussion in resolving its
problems and make all the preparation about it. They collect all the details or
profs to get outcome in these situations.
2. Definition of ground rules: in this step negotiating process established procedures
and rules in organisation. They have some considered some question, like: where
negotiating take place and time constraints exist etc.
3. Clarification and justification: this process need clarification about conflict on
both parties sides, then they make justice for all of them. This step is very
important for resolving issues.
4. Problem solving and bargaining: negotiating process make bargaining between
employees and managers for solving problems. They offer many other ways to get
outcome in this critical situations.
All this steps need basic information that helps in solving problems like agreements or contracts
in business deals. It can support in making business more effective and productive for generating
new deals.
LO 2
P3 RFP process and documentation
Request for proposal is a process of document that offer through organisation or agency
in negotiation process (Albuquerque, de Lucena, and Neto, 2014). It is made through with
command process by company involved in procurement of service, valuable asset or suppliers
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potential to suggest proposals in business of Trunki. RFP has 4 steps are, Discovery, draft &
issue, score & shortlist and Select winner and contract.
1. Discovery: this stage define the stakeholders key in organisation and their effect upon
decision of purchasing. This function fixed schedule of internal groups or team gathering to get
discussion about issues and business goals or objectives to build a budget. It identifies the going
score of various vendors, tools will need to prior for starting process.
2. Draft and issue: after completing discovery of RFP process, it mentions good
organisation in draft. This will make to sure that vendors understand their responsibility for
measured other seller issue.
3. Score and shortlist: they choose stakeholders who are capable to score or resolve
suppliers issue. RFP process shortlist vendors which are suitable for this activity. It selects
people who are capability of taking this process. Thus, it can shortlist those persons who has
difference strength between vendors or have the highest rating.
4.Winner and contract: after the whole process has done it select winner and offer
contract to them. This is the last step of RFP process.
Team and group response and collaborative views or process of editing is the relevant
documentation of RFP because this document help in future situation of organisation.
Source: The Essential Guide to Understanding the RFP Process. 2016
P4 Contractual process and documentation monitoring or managing
Contractual process means releasing possession and placing contracts. This process helps
in protecting overall business activity or controls at workplace. It was a type of agreement that
has been done between employee and employers. This process is based on various rules and
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Illustration 2: RFP steps

responsibilities towards the Trunki (Lu, and et.al., 2015). Contractual process help authority to
understand workers terms and conditions. Bidding deals with government rules and policy's.
This process include in contract such points are: negotiation, modification and execution or
performance to manage companies management processes. This can be deal within vendors,
customers and contractors. This process is based on 7 steps: contract preparation, author the
contract, negotiate, execute etc.
1. Contract preparation: this process is based on identifying employees and employer
needs. It is prepared within correct resources which is very important for managing whole
functions. It includes people needs, ultimate goals and reasons for making contract and taking
decision according to it. Example, this contract is the set of terms or conditions for customers.
2. Author the contract: author the contract is deals with employee and manager, they
make decision according to document in front of their lawyer who was the wetness of current
situation. This process has been done in legal template of government that helps in future
conditions.
3.Negotiate the contact: negotiations has always followed in every process of building
good relationship between workers and higher authority or other staff members. It is based on
trust and transparency between both of them. It played an important role in contractual process.
4. Approval before finalizing contract: after making this contract Trunki need approval
with manger or employees for finalizing terms and conditions. For example, organisation has
made policies that need to complete employee demands. Approval make process to next step.
5.Execute the contract: it is very simplest or easy part of these functions. Employees and
employers both are agreed on exact words of this agreement and take another official step. Every
organisation make contracts for securing their business and build trust with people.
6.Keep up with revisions and amendments: amendments and revisions both are the
ordinary part of this contract. Changes tracking effect parties and make them confused, it was the
reason of implementing reliable operation such as manage contract life cycle at management
level.
7.Manage after the signature: Contractual process get ended by approval of both parties.
They get sign on that contract and agree at each rules and policies made according to their needs
and other important points.
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This documentation is managed through monitoring at workplace of employees.
According to this activity it can easily define the management process of business. Trunki
managed their work performance of workers through the contract which they had sign before
making any other activity in firm. Contractual process document helps in managing and
monitoring in work areas over the workers or other staff members who are included in legal
contract.
LO 3
P5 Key principles of pitch
Good pitch has 6 principles of life' s are:
1. Transparency: pitches is very easiest way to understand issues or problems in
workplace between employees and employer (Fejer, and et.al., 20140. Thus, for staring conflict
decision transparency is very important to complete the whole process of negotiation. This will
help in competitive situations in business. It is beneficial for employees or clients.
2.Respect: pitches activity need respect by both parties. Senior members should involved
from day one, that is helpful to judge them fairly and informed them about decision at the end of
this process. This will help clients to know about what they exactly wants. From day one both
parties respect for decisions according to contracts.
3. Bravery: it is most important that both parties have braver to doing a good pitch.
Employees and employer both need have bravery skills among them to faced any situations in
this process. They need to get ready for conducting any conditions, this will help in making
competitive advantages.
4. Communication and access: communication skills is effective way to make strong
relationship between clients and suppliers. Right communication on the bases of right things
build trust and understand among both of them. This process help in resolving problems at
workplace or make business more successful better than its competitors. Employees need to treat
pitch in good way and communicate them about the issues.
5. Timing: time punctuality in making decision for business effect its growth. Short time
pitches benefits in keep cost low and decrease uncertainty. Long negotiation process extend
pitches process. So for making success it need to work according to time frame.
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6. Working together: working within same place is a sign of good pitch. Employee or
employer does not perform together at same areas that means they are not following negotiations
and avoid contract rules and policies.
All these principles help in the process of negotiation. It helps in achieving competitive
bounds or goals of business.
LO 4
P6 Potential outcomes of pitch
Pitch outcomes are the result that will happen at in the end of negotiation process. It has
conduct four outcomes like, one person wins and another get loss, second is both lose, after that
they get stuck in stalemate, in the end one or both get wins.
 Lose-lose: these outcomes explain lose of both sides when they are not agreed on contract
terms and conditions or pitching process (Crompton, 2014). They both stuck into their
positions, that does not get any out comes.
Example: Trunki employees deny to except any contract offer and goes on union strike till their
demands and requirements will not fulfil by the firm. Organisation do not except their demands
and employees get back to work without having any profit, thus both side s lose in their terms.
 Win-lose: according to this outcomes one parties get win and another get lose, there are
no adjustment in lose or win outcomes. One side have all the information at is necessary
at the time of negotiating and pitch can make them win and other side does not have any
relevant needs of satisfaction make them lose.
Example: one side have strong prof in negotiation and other person does not have any evidence.
 Stalemate: this outcomes explain the situation of both sides that no one get win or lose, it
gets come on the stage of stalemate. Negotiation helps in this process deals with different
offers between both sides. This condition demand that both need to decided on one
positions. Through offering various terms' employee and employer choice one outcome.
 Win-win: in this type of outcome both sides win according to their interested deals. They
both achieve their needs and demands that help the organisation to grow success in
business and make profitability. Fair solution build strong relationship and trust between
both of them. Negotiation process take decision according to right things. Pitch outcomes
are based in negative or positive sides.
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P7 Obligation from a pitch and issues that occur
Legal templates help Trunki to fulfil their obligation from pitch. They make legal
agreements included to employee and employer demand and it terms and condition, that has to
be followed by both sides. Negotiation skills and pitch both work according for filling business
success, they make decision by getting all the information about the problems and issue and
make right decision equally beneficially for employee and employers. Both parties deals with
legal document and contracts by approving all terms. These document help organisation at the
time of managing and monitoring clients and workers according to it. By following pitch process
firm can fulfil their objectives and goals (Greenberg, 2018). Pitch start with planning and ends
within question and their answers by satisfying both parties. Good pitches can help to make
outcome at the conflict situation of organisation that might be affect its business.
Potential issues that occur: workers and manager both stands with their demands and
requirements. They need satisfaction at this position. But there are some points that occur pitch
and negotiation process. Serious issues that stop pitch potential is that both parties do not get
agree at one decision they both have its own beliefs that impact on business growth. Employees
and manager not approved negotiation decision and pitch process that create conflict at
workplace and make unhealthy environment around all the work areas at every level of
management. They both do not get any outcome of this difficult situations, that decrease trunki
profitability and production in marketplace.
CONCLUSION
In this study it has been concluded that pitching and negotiation skills help to resolve the
issues and problems between workers and manger or other authority members. This report
present the meaning of negotiation and its process of occurring in conflict situations. It also
defines key stakeholders at the time of negotiation process. It includes negotiating steps such as
Planning and preparation, Clarification and justification etc. that help in resolving problems
between both parties and also present basic information that help in creating deals. This study
explain pitch importance in organisation to fulfil its obligation and goals for making business
more successful. At last it concluded the potentials outcomes of using pitches.
REFERENCES
Books and Journals
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Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Core, M., and et.al., 2016. Teaching negotiation skills through practice and reflection with
virtual humans. Simulation. 82(11). pp.685-701.
Page, D. and Mukherjee, A., 2014, February. Using negotiation exercises to promote critical
thinking skills. In Developments in Business Simulation and Experiential Learning:
Proceedings of the Annual ABSEL conference (Vol. 33).
Badoi, I., 2014. Negotiation within labor relations. Juridical Tribune Journal= Tribuna
Juridica. 4(1). p.7.
Tsuma, W., Pentori, C. and Majonga, C., 2017. Seven secrets for negotiating with government,
Jeswald W. Salacuse. conflict trends. 2017(3). pp.54-56.
Albuquerque, U.P., de Lucena, R.F.P. and Neto, E.M.D.F.L., 2014. Selection of research
participants. In Methods and techniques in ethnobiology and ethnoecology (pp. 1-13).
Humana Press, New York, NY.
Lu, P., and et.al., 2015. The effectiveness of contractual and relational governances in
construction projects in China. International Journal of Project Management. 33(1).
pp.212-222.
Fejer, S.N., and et.al., 2014. Design principles for Bernal spirals and helices with tunable
pitch. Nanoscale. 6(16). pp.9448-9456.
Crompton, J.L., 2014. Potential negative outcomes from sponsorship for a sport
property. Managing Leisure. 19(6). pp.420-441.
Greenberg, J., 2018. A Novel Experimental Test of Social Network Opportunity and Structure in
Entrepreneurial Pitch Evaluation Updating.
Online
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Stages of Negotiation. 2018 .[ONLINE]. Available through:
<https://www.skillsyouneed.com/ips/negotiation.html>
The Essential Guide to Understanding the RFP Process. 2016. [ONLINE]. Available through:
<https://info.vendorful.com/rfp-process>
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