Assignment on Pitching and Negotiation Skills (PDF)
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Added on 2020-11-12
Assignment on Pitching and Negotiation Skills (PDF)
Added on 2020-11-12
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Pitching and NegotiationSkills
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Negotiation and involvement of key stakeholders in the procedure of negotiation.............1P2. Steps of Negotiation process.................................................................................................2D1. Critically evaluate the steps of negotiation process.............................................................3TASK 2............................................................................................................................................4P3. Request for proposal and documentation and consequences for breaching agreement........4D2. Evaluation of competitive tendering and contract process...................................................5TASK 3 ...........................................................................................................................................5P4. Explain pitch process in Marks and Spencer and evaluating ways to maximize it..............5D3. Developing dynamic and creative pitch...............................................................................6P5. Recommend ways in which Marks and Spencer company can fulfil their post-pitchingobligations...................................................................................................................................7D4. Critically evaluate the pitch and post outcomes to analysis potential issues and riskmanagement................................................................................................................................7TASK 4............................................................................................................................................8P6. Assess the potential outcomes of pitch.................................................................................8D4.Critically evaluate the pitch and post outcomes to determine potential issues and riskmanagement................................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONPitching and negotiation skills plays a vital role in any business as it helps in seekingattention of customers, suppliers and shareholders and making people agrees on commoninterests. It is a technique which assists in determining interests of all people who are concernedabout the functions of organization. In this report, Marks and Spencer Company have been chosen for assessment. Marks andSpencer is a leading retail store in United Kingdom. It will also focus on the analysing the stepsof negotiation which are followed by the management in dealing and controlling issues of anorganization. Furthermore, the report also focuses on the contractual process and how relevantdocumentation of negotiation and pitching is managed and monitor. This focuses on the potentialoutcomes of pitch and how Marks and Spencer fulfil their obligations from pitch identifyingpotential issues that can occur. Moreover, the report will also critically evaluate the pitch andpost outcomes to analyse the potential risk management and troubles. The report will furtherrecommend ways by which Marks and Spencer fulfil their post and pitching obligations. TASK 1P1. Negotiation and involvement of key stakeholders in the procedure of negotiationNegotiation is mainly defined as a term to solve the troubles and issues prevailing inanorganization. Negotiation is a procedure to discuss where two parties are involved to discover asingle solution with mutual interest. It also assists in the best possible outcomes. In the process ofnegotiation, there are skills and traits required to resolve issues and troubles and makestakeholders agree on common interests (Tripopsakul and Charupongsopon, 2017). Generallynegotiation makes the best decision-making approaches to control, monitor, and manage allconflicts. I help in maintaining healthy and happy relationship with stakeholders. It is the most effectual procedure implemented by Marks and Spencer as it assist inmaintaining interest of every stakeholders who are involved with activity and function ofbusiness. It is also the foremost duty of a manager to apply and use suitable or appropriate stepsof negotiation because it aids in managing information to be shared with stakeholders. Themanager of Marks and Spencer has to focus on terms and conditions which are required to1
negotiate with people who have general interest in function and activities of company it is themost critical part of a business. The focus of Marks and Spencer is to cover all their benefits of stakeholders so that theyare the essential parts of the company. If company go through any changes or modification, themain intention is to provide full satisfaction to stakeholders of company. Negotiation helps inbringing 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 companyas well as to stakeholders of the company (Baber and Ojala, 2017). Sometimes, negotiation hasbeen end up with bargaining and sometimes with it end up by promising. However, sometimes, ittakes too long time in settling down the issues which is not good for company. Therefore, it isthe challenging for the manager of Mark and Spencer to take short time and settle those issues asbecause entire operation will disturb. P2. Steps of Negotiation processThere are five steps involved in the process of Negotiation which are as follows- 1.Planning and Preparation2.Setting Ground Rules and Regulations 3.Clarification and Justification4.Bargaining and Problem Solving 5.Summarizing and ExecutingWhen company is going through any issues or troubles (Ellermann, 2017), it is very essentialsfor the manager of Marks and Spencer to implement the entire procedure of negotiation for betteroutcomes 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 thisstep, the main intention of manager is to make aware about issues for which negotiationis conducted. Manager also tries to collect all information from stakeholders likeexpectations, needs and different perceptions and many others. The manager of Marksand Spencer outlines all the details which can be taken in a process of negotiation. In thisstep, the manager focuses on the possible comments and arguments which can arise at thetime of negotiation.2
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