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PITCHING AND NEGOTIATION SKILLS INTRODUCTION

   

Added on  2020-10-05

12 Pages3540 Words255 Views
PITCHING ANDNEGOTIATION SKILLS

Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................12. Rationale for the process of Negotiation.................................................................................23. Evaluation of the negotiation process.....................................................................................3LO2..................................................................................................................................................44. RFP process for the company.................................................................................................42. Competitive Tendering and Contract Process.........................................................................4LO3..................................................................................................................................................51. Process of pitching..................................................................................................................54. Dynamic and creative pitch.....................................................................................................6LO4..................................................................................................................................................71.Potential outcomes of a pitch and ways for fulfilling the post pitch obligations....................72.Evaluation of the pitch.............................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONNegotiation skill is regarded as the most effective skill in the corporate as it can help tosolve the conflicts which can raised due to certain reasons also the pitch is the plan for all theactivities which can create an competitive edge for the Marks and Spencer. This project includesthe evaluation of the negotiation skills and its process to resolve any conflict. Also theimportance of it is described so that one can learn about its importance with the criticalevaluation of the process and its various stages which are involved in the successfulimplementation of the concept. Also the complete effective pitch process has been describedalong with the example and the potential outcomes related to it is also described with thesuggestion for the risk management along with its legal obligations. Request for proposal hasbeen depicted along with its complete procedure and the competitive tendering with thesuggestions for providing the applying of the effective tender for the company (Badger, 2016).LO11. About NegotiationNegotiation is defined as the process in which the interest of two parties is combined in amutually agreed decision which can lead to avoid certain kind of disputes in the company.Conflicts possesses harm to the organisation as it can influence the relations of people can lead tominimise the harmony of the atmosphere in a particular aspect which affects the functions andoperations of the corporate which leads to many problems in the attainment of goals andobjectives. Negotiation is a resolving method of disputes which can occur between individuals orgroup of different parties. It helps to maintain peace and harmony to Marks and Spencer (M&S)by following a particular framework for solving all the issues. It helps to reduce all thedifferences among people by suggesting measures to satisfy the interest of each other. This helpsto create their bond between them by creating a sense of trust for each other. This potential oftrusting each other makes the decision process very easy to implement and effective inproviding solution to all the problems.Negotiation is very necessary skill that every employee should have as it helps tocoordinate with other workers for making a certain operation very effective in approach. Thisnegotiating can occur anywhere whether it is in companies for particular business, non- profitand can be between the companies and the government for the legal aspects. It is much requiredbetween the board members as it is comprised of stakeholders which have their serious interest1

and a rigid nature which lead to disputes often as there is no sense of mutual agreement in them.Negotiation becomes very important there to resolve every kind of disputes related to anyinvestment or important decision for the company.2. Rationale for the process of NegotiationThe negotiation process plays an important role in every corporate as the conflicts are themost common aspects of it as the firm comprises many personnel which have differentperception and thought process which definitely creates disputes among them. Therefore,negotiation is very necessary for solving differences between various companies of the industriesor in the organisation itself. Negotiation process has many stages which lead them to implementthe process with a complete reasoning for demanding expecting from the opponent party and alsounderstand their needs. It has made the conflict solving procedure very easy.Negotiation process can be successful by adopting these stages effectively:Phase of PreparationFor any procedure which is to be implemented must have certain data and informationwhich can provide support to it. It is very important to gather all the facts and figures related toany issue before commencing any formal negotiation with other party. After the collection,leverage of both the parties is evaluated. One should also know about other opponent with whomnegotiation will be performed. Objectives of self should be very clear which helps to understandwhat is required from the negotiation.Phase of Opening It is regarded as the introduction stage of the negotiation in which both the parties tries tounderstand each other so that they can create some impression. This impression is very muchbeneficial as it leads to affect all psychologically because it can divert the direction of anagreement in a positive manner.Phase of BargainingThis stage involves keeping up of self exceptions and requirements from the meeting sothat one can provide a clear visual of what they actually want and expect from each other. Ithelps to create a kind of mutual understanding of why and what they require.Phase of ClosureThis leads to end of the meeting where negotiation is complete verbally but thedocumentation procedures have to be performed. Amendments are also done after revision.2

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