Negotiation Skills and Strategies

This report focuses on the responsibility of a manager to negotiate and control the negotiation process, as well as determining what negotiation is, why it arises, and who are the key stakeholders during a negotiation. The report also concludes the key steps and information required for negotiating and generating deals.

Pitching and Negotiation
Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Negotiation and involvement of key stakeholders in the procedure of negotiation.............1
P2. Steps of Negotiation process.................................................................................................2
D1. Critically evaluate the steps of negotiation process.............................................................3
TASK 2............................................................................................................................................4
P3. Request for proposal and documentation and consequences for breaching agreement........4
D2. Evaluation of competitive tendering and contract process...................................................5
TASK 3 ...........................................................................................................................................5
P4. Explain pitch process in Marks and Spencer and evaluating ways to maximize it..............5
D3. Developing dynamic and creative pitch...............................................................................6
P5. Recommend ways in which Marks and Spencer company can fulfil their post-pitching
obligations...................................................................................................................................7
D4. Critically evaluate the pitch and post outcomes to analysis potential issues and risk
management................................................................................................................................7
TASK 4............................................................................................................................................8
P6. Assess the potential outcomes of pitch.................................................................................8
D4.Critically evaluate the pitch and post outcomes to determine potential issues and risk
management................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Pitching and negotiation skills plays a vital role in any business as it helps in seeking
attention of customers, suppliers and shareholders and making people agrees on common
interests. It is a technique which assists in determining interests of all people who are concerned
about the functions of organization.
In this report, Marks and Spencer Company have been chosen for assessment. Marks and
Spencer is a leading retail store in United Kingdom. It will also focus on the analysing the steps
of negotiation which are followed by the management in dealing and controlling issues of an
organization.
Furthermore, the report also focuses on the contractual process and how relevant
documentation of negotiation and pitching is managed and monitor. This focuses on the potential
outcomes of pitch and how Marks and Spencer fulfil their obligations from pitch identifying
potential issues that can occur. Moreover, the report will also critically evaluate the pitch and
post outcomes to analyse the potential risk management and troubles. The report will further
recommend ways by which Marks and Spencer fulfil their post and pitching obligations.
TASK 1
P1. Negotiation and involvement of key stakeholders in the procedure of negotiation
Negotiation is mainly defined as a term to solve the troubles and issues prevailing inan
organization. Negotiation is a procedure to discuss where two parties are involved to discover a
single solution with mutual interest. It also assists in the best possible outcomes. In the process of
negotiation, there are skills and traits required to resolve issues and troubles and make
stakeholders agree on common interests (Tripopsakul and Charupongsopon, 2017). Generally
negotiation makes the best decision-making approaches to control, monitor, and manage all
conflicts. I help in maintaining healthy and happy relationship with stakeholders.
It is the most effectual procedure implemented by Marks and Spencer as it assist in
maintaining interest of every stakeholders who are involved with activity and function of
business. It is also the foremost duty of a manager to apply and use suitable or appropriate steps
of negotiation because it aids in managing information to be shared with stakeholders. The
manager of Marks and Spencer has to focus on terms and conditions which are required to
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negotiate with people who have general interest in function and activities of company it is the
most critical part of a business.
The focus of Marks and Spencer is to cover all their benefits of stakeholders so that they
are the essential parts of the company. If company go through any changes or modification, the
main intention is to provide full satisfaction to stakeholders of company. Negotiation helps in
bringing positivity in the environment in the work place of the company.
In the procedure of negotiation, the main emphasis is given to the betterment of company
as well as to stakeholders of the company (Baber and Ojala, 2017). Sometimes, negotiation has
been end up with bargaining and sometimes with it end up by promising. However, sometimes, it
takes too long time in settling down the issues which is not good for company. Therefore, it is
the challenging for the manager of Mark and Spencer to take short time and settle those issues as
because entire operation will disturb.
P2. Steps of Negotiation process
There are five steps involved in the process of Negotiation which are as follows-
1. Planning and Preparation
2. Setting Ground Rules and Regulations
3. Clarification and Justification
4. Bargaining and Problem Solving
5. Summarizing and Executing
When company is going through any issues or troubles (Ellermann, 2017), it is very essentials
for the manager of Marks and Spencer to implement the entire procedure of negotiation for better
outcomes and settle down as early as possible.
Thus, the process of negotiation is as follows-
 Planning and Preparation- This is the first step in the process of negotiation. In this
step, the main intention of manager is to make aware about issues for which negotiation
is conducted. Manager also tries to collect all information from stakeholders like
expectations, needs and different perceptions and many others. The manager of Marks
and Spencer outlines all the details which can be taken in a process of negotiation. In this
step, the manager focuses on the possible comments and arguments which can arise at the
time of negotiation.
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 Setting Ground Rules and Regulations- It is the second step and is mandatory for the
manager to setting ground before starting negotiation procedure as it helps in maintaining
standard of whole procedure. Manager of Marks and Spencer in this process write down
all the details which would be discuss in this process of negotiation like what will be
discuss, limits of negotiation, components or elements which can be consider while
discussing (Romo, 2017). Moreover, it is also very significant to set a backup plan for
the process of negotiation as because it helps in making last decision and making the
negotiation successful.
 Clarification and Justification- It is the third step where people included in the
negotiation process get equal chances to give their clarification and justification. This
step focuses on open discussion. The manager of Marks and Spencer will also focus on
each and every person get opportunities for sharing their views which helps company in
analysing loopholes of company.
 Bargaining and Problem Solving- Here the Manager focuses on reasons and various
opinions that were discovered during meetings of negotiation process. It is the duty of
manager of Marks and Spencer to analyse the last situation on which negotiation end up.
Manager analyse all viewpoints of people involved.
 Summarizing and Executing- It is the last step in the process of negotiation. The
manager of Marks and Spencer aims at the documentation of negotiation where all
alternations and modifications are written on a single agreement (Omer, 2018). It is very
important to take signatures of all people who participated in the process of negotiation.
In this step, all the people are agreed on common interests.
D1. Critically evaluate the steps of negotiation process.
Negotiation is impressive procedure as it assist in setting proper and organized flow of
negotiation. Negotiation also makes easy and healthy interaction with stakeholders. Sometimes,
there is hindrance among the people involved in negotiation because in this process managers
focus on modification and alteration of decision. But this process is very beneficial as it
considers views of all the people.
For example- In case of burden of work, company is planning to make weekly holiday to
working day for some time and increase working hours for employees than in such situation it is
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the responsibility of manager to negotiate with employees so that majority of employees will
agree (Halbfas, 2017).
TASK 2
P3. Request for proposal and documentation and consequences for breaching agreement.
It is the preferred manner to execute the procedure of business. It is the type of documents that
request proposal which is rarely made in the bid procedure or by an agency or organization
interested in procurement of a commodity service. The main intention of RFP is that to needs
evaluation, accountability and great governance and or for discovering the vendor best suited to
the needs of the company. There is need of RFP arise at the time of making good task objectives
and important function of subject matter. It is the procedure when brand-new policies and rules
has been issued in the company. In order to make good skills and wants, it is need to make long
term process. There are few parts of company where the requirement of RFP process is very
significant which are as follows-
Open up the boundaries of projects- In order to make essential and necessary task
objectives, this process is very much beneficial. These procedures need to require systematic
implementation to make effective goals (Shankar, 2018). It is the duty or obligation of
Negotiator to manage proper and systematic planning and task directed goals and maintained as
per the task objectives before start planning for negotiation.
Identify key stakeholders and advisors- This is the next process in RFP. In order to make
good task directed procedure of creating good objectives and goals, this process is very
beneficial. Manager in this pro\cess evaluate the response involved.
Interact with stakeholders and define the needs of projects- It is one another procedure
of making needs of goods to take effective decision making approach. This process also assist in
making the best possible plans or provide the best decision making apart is the preferred way to
accomplish the process of business. It is the kind of documents that solicits proposal which is
often made by the bidding process or by an agency or company interested in procurement of a
commodity service. The main purpose of RFP is that to needs assessments, accountability and
good governance and or for finding the vendor best suited to the needs of the organisations oach
to fulfil the objectives of the projects.
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Host and information meeting- In order to make good task objectives it is one another
process. Furthermore, this process ensure all the informations they need to react. This process
also helps in making effective work.
Evaluate the proposals- in this process manager evaluate the procedure of making and
creating those things which directed toward achieving the goals of the projects in the best
manner.
Sigh the contract-After making all the decisions it is very important to sign the contracts
who have participated on the process of negotiations. This process come up after people agree on
the common interest.
D2. Evaluation of competitive tendering and contract process.
Competitive tendering is a system introduce in 1980 by United Kingdom. The main
intention is to drive the cost of the products down and improve the efficiency of state funded
company which include the department of central and state government. In order to analyse the
requirement of customers and make available them better quality of products so that there
expectations are fulfilled is known to be tendering. Obtaining resources, raw material and
equipment includes in the process of competitive tendering (Nudelman, 2017). Obtaining is an
action of something from outside the company. There are various advantages of competitive
tendering which management of Marks and Spencer can observe such as value for money,
compliance and regulatory outcome, wide range of alternatives and many others.
TASK 3
P4. Explain pitch process in Marks and Spencer and evaluating ways to maximize it.
The process through which company select advertising agencies in order to assign them
advertising and brand promotion responsibilities. When the Marks and Spencer outsource their
promoting responsibilities to outside agencies, they call in for pitching where in all short listed
agencies presented their plans which can lead the company towards development and evolution.
The most suitable and precise agency got chosen and is made responsible for interacting brand
goods and services. To raise the effectualness in the pitching procedure, the management of
Marks and Spencer use principles which are as follows-
Value Creation- Value creation means the action through which value of the business
can be promulgates. Pitching plays an essential role in creating value for Marks and Spencer. In
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order to enhance the value of the organization management of Marks and Spencer is taking help
of advertisement tactics and pitching strategies.
Brand Loyalty- Brand loyalty plays a crucial role in increasing consumer base and
maximising revenue. By using pitching process company can easily maintain brand loyalty. In
order to enhance and maintain the brand loyalty of Marks and Spencer, pitching and negotiation
is playing effective role. Investor's, customers are attracted towards the effective brand image.
Innovation- Innovation and invention plays a prominent role in development and growth
of company. In order to sustain in the competitive world, it is very important to bring innovation
in the market. Marks and Spencer is working very hard in building brand image as company
always come up with innovative products.
Networking- networking means a deal by the management of the company in order to
furnish goods and services in a specific area (David and et.al, 2018). It is very important for
company to develop effective networking so that the products of Marks and Spencer reach to
maximum customer's. Pitching assist in improving and evolution of networking of Marks and
Spencer efficaciously and with efficiency.
Partnership- it is very important to make effective partnership with outsiders like with
suppliers, or customers or any other external parties. In order to enhance the level of productivity
of the functional activity of Marks and Spencer, management needs to maintain healthy
relationships or partnership.
These all above principles helps company in bringing effectiveness and quality of pitching, The
management of Masks and Spencer needs to focus on the subject matter and furnish realistic
solution to the issues or troubles. Pitching also helps Mark and Spencer to survive in competitive
world. Brand loyalty is also built with the help of Pitching. Pitching also helps in increasing
inspirations, help in testing ideas, improve speaking skills, enhancing knowledge and last
expanding horizon.
D3. Developing dynamic and creative pitch.
There are following points which helps in creating dynamic and creative pitch the agency
chosen by Marks and Spencer needs to follow-
Listening- It is very important to have listening skills in order to eliminate any confusions
of issues of clients. If agency did nit listen carefully then they will not find right solution. By
appropriate listening, agency will able to create healthy relations between company.
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Using various aids- It is very important to develop creative pitch, agency can make use of
various aids like visual aids, innovative arts which helps in attracting many customers towards
the products of Marks and Spencer (Abels, Howarth and Smith, 2018).
P5. Recommend ways in which Marks and Spencer company can fulfil their post-pitching
obligations.
As per the demand of customers, company can make utilize of pitching process as it helps
organization to increase the sales and maximise the profitability. According to advise or
suggestions of their subordinates company can improve and develop the product or services of
organization. The product or services of Marks and Spencer has ability of attract more and more
customers. As per the innovating needs of the customers, post pitching is very helpful for Marks
and Spencer. Marks and Spencer can make take advises of each and every employees of the
organization so in order to gain effective outcomes.
Post-pitching goods of the company require making development in some products and
services as per creative and innovative requirements in them. Make alteration and modification
in products and services as per the post-pitching of Mark and Spencer company which will
enhance the sales revenue of the organization. Pitching requires certain fund but it will help
company in enhancing its quality in their products and satisfaction level of customers is also
ungraded. By doing post-pitching in the products or services Marks and Spencer prolong for long
time in the competitive world.
D4. Critically evaluate the pitch and post outcomes to analysis potential issues and risk
management.
Pitch has an execution in which they make attempts to get to the accurate agent partner to
work on their own behalf. In order to present the products or services in impressive form,
pitching and negotiation is the best process (Wiener, 2017). Furthermore, the procedure of pitch
determines that the investment of time on the particular pitch as it is essential thing to make
effective pitch with them in more relevant form. By effective performance of the business it
affects the post pitching areas in effective way. By using of post pitching approach, Marks and
Spencer can make new and innovative ideas for business. The decision of development and
growth of the business is also become effective when company is using post-pitching approach.
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TASK 4
P6. Assess the potential outcomes of pitch.
The process of negotiation helps in getting better outcomes and effective approach of
decision making (Paço, Ferreira and Raposo, 2017). This process will also help Marks and
Spencer in dealing long term and continuous process with stakeholders of the company.
Moreover, in order to deal in most profitable manner, the skills and traits of negotiation is very
fruitful. The entire process is based on the principles and norms which helps management of the
company to take effective and better decisions making. Marks and Spencer is getting the best
possible outcomes by using this process. Besides this, it also motivates the stakeholders of
company by which company can get better returns. Moreover, it also helps in achieving the
objectives of business and needs and wants of employees as well. It is the entire procedure of
making good task directed work.
Furthermore, it is not easy for the manager of the company to make planning or the
procedure of negotiation as it is very challenging and complex. In order to identify the ideas of
relevant pitching within the company's environment so that the process of pitching become
successful. Mark and Spencer has to make suitable improved and proper plan in order to make
profits and increase in sales. Mark and Spencer needs to make effective relationship with their
customers and employees within the organization.
D4.Critically evaluate the pitch and post outcomes to determine potential issues and risk
management.
Every step of the process is involved din risk management. It makes great procedure of
working and task directed towards objectives and goals. It also makes the activity of good things
which is not making great procedure of working (Fletcher, 2018). Risk management refers to
whole risk and the steps through they get control or reduce and overcome in most effective
manner. In order to negotiation activity it also considers different risk process or challenging
situation.
CONCLUSION
The above report summarize that negotiation skills must have potential and benefits to
achieve negotiation objectives and goal directed towards task. It is the responsibility of the
manager of Marks and Spencer to manager and control the negotiation process. Furthermore, the
report will also determine what is negotiation ad why is arisen and who are the key stakeholders
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are during a negotiation skills. Moreover, the key steps and information required for negotiating
and generating deals is concluded.
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REFERENCES
Books and Journals
Abels, E.G., Howarth, L.C. and Smith, L.C., 2018. Transforming Library and Information Science
Education by Design. In Re-envisioning the MLS: Perspectives on the Future of Library
and Information Science Education (pp. 71-89). Emerald Publishing Limited.
Baber, W. and Ojala, A., 2017. IT Negotiators: What’s your approach?. The European Business
Review. 2017.
David, K, and et.al, 2018. Embedding Entrepreneurial Skills Development in Teacher Education.
In Entrepreneurial Learning City Regions (pp. 319-340). Springer, Cham.
Ellermann, L., 2017. Dublin City University Ryan Academy: A Public-Private Partnership in
Entrepreneurship Education. In Entrepreneurship Education at Universities (pp. 449-479).
Springer, Cham.
Fletcher, D., 2018. Looking to the future: how can we further develop critical pedagogies in
entrepreneurship education? Revitalizing Entrepreneurship Education: Adopting a critical
approach in the classroom.
Gough, J., 2017. Educating career guidance practitioners in the twenty-first century. British
Journal of Guidance & Counselling. 45(2). pp.199-207.
Halbfas, B., 2017. University of Coimbra: Supporting Nascent Entrepreneurs by Extra-curricular
Activities. In Entrepreneurship Education at Universities (pp. 289-325). Springer, Cham.
Nudelman, G.R., 2017. Engineering identity: Analysing e-portfolios in a professional
communications course. South African Journal of Higher Education. 31(2). pp.211-225.
Omer, A.A.E.Z., 2018. Using Phonological Features to Develop Undergraduate Students’ Oral
Skills (Doctoral dissertation, Sudan University of Science and Technology).
Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship. 21(1).
Romo, L.K., 2017. College Student-Athletes’ Communicative Negotiation of Emotion Labor.
Communication & Sport. 5(4). pp.492-509.
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Shankar, B., 2018. Tactics and Approaches for Sales Effectiveness. In Nuanced Account
Management (pp. 17-51). Palgrave Macmillan, Singapore.
Tripopsakul, S. and Charupongsopon, W., 2017. What Skills Do Nascent Entrepreneurs Need?
The Evidence from Thailand. European Research Studies. 20(2). p.250.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to Get,
Set, and Keep the Fees You're Worth. Kogan Page Publishers.
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