Importance of Pitching and Negotiation Skills

The provided text emphasizes the importance of pitching and negotiation skills for individuals. It discusses how these skills help reach decisions or targets in an organization by settling conflicts or disputes appropriately, thereby increasing productivities and profitability. The assignment includes references to books and journals that support this idea.

Pitching and
Negotiation Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Determine negotiation and why it occurs, with its key stakeholder for commence process. 1
M1 Rationale for negotiation process with detail step and information required for preparation
.....................................................................................................................................................3
D1 Evaluate the steps of negotiation procedure and present solution regarding issues..............4
TASK 2............................................................................................................................................5
M2 Apply RFP process and outline key documentation or consequences of breach an
agreement....................................................................................................................................5
D2 Evaluate the competitive tendering with contract process and recommendation for
successful tender with minimum risk..........................................................................................6
TASK 3............................................................................................................................................7
M3 Examine the pitch process and evaluate ways for maximising the chances of successful
pitch.............................................................................................................................................7
D3 Develop a dynamic and creative pitch which concise and persuasive to achieve sustainable
competitive edge.........................................................................................................................8
TASK 4............................................................................................................................................8
P6 Assess the potential outcomes of a pitch...............................................................................8
M4 Recommendation for fulfilling their Post-pitch obligation and highlight potential issues...9
D4 Critical evaluate the pitch and post pitch outcomes for potential issue and risk
management..............................................................................................................................10
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
Pitch can be considered as the process which support in creating more sales by customers
awareness regarding particular products or services. it is an essentials element that company
make aware to its clients and compel them for proper actioning as well. In other words, pitching
and negotiation skills must be required for winning the new contracts that based on some
agreeable terms. Many of organisations are considering these elements because it support in
managing entire business operations and run an enterprises whether small or big firms and also
make innovative workforce (Chang and Rieple, 2013). In the business firm, effective pitching
skills always generate higher profits, sales and networking opportunities regarding goods and
services because they negotiate with different people within the organisation. This report is based
on Mark and Spencer which is a retail firm. It will explain negotiation and various stakeholders
for business. This assignment will consider procedure of negotiation and present solution as well.
RFP and contract process will also discuss for evaluation of competitive tenders. There will
explain different ways to maximise the pitch for sustainable competitive edge. This will also
determine number of issues or risk management with potential outcomes of pitch.
TASK 1
P1 Determine negotiation and why it occurs, with its key stakeholder for commence process
Negotiation is a systematic procedure in which more organisation resolved its various
differences and get more benefits for an individuals and collective as well. It is necessary to find
the appropriate solution that must be favourable for both party. Their purpose is to consider
several interest and satisfy them by taking best decision so that particular outcomes can be
gained in more appropriate manner. Negotiation is very beneficial for making effective
concessions for the purpose of achieve specific agreement as it settle down major differences or
issue with an appropriate manner (Cooke, 2015). It is also known as compromising among
people by undertaking any particular issue or dispute that can be arise while running an
organisation. This concept generally occurs while making buying and selling of particular goods
or services. there can be possibility for achieving best outcomes for the firm and create good
position among competitors. Negotiation is helpful component that create mutual understanding
and provide benefits for both party so that strong relationship can be build among them. Here are
various reasons behind negotiation such as:
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 To avoid conflicts or disputes: This is the main reason to occur negotiation process
during operating particular business because it create several kinds of situations as
complex or critical within the firm so it is necessary to find appropriate solution for that.
Therefore, it can be said that conflicts or barriers can be responsible for occurring the
negotiation. This is related with allocating work among employees, make any deals and
optimise resources during operations at the workplace (Zaby, 2015). Mark and Spencer
company always consider various types of circumstances that can be arise and also make
better decision for resolving those issues in well manner. They also considered various
techniques such as allocation and utilisation of available resources to achieve set goals or
targets. For creating win win situations: There must be required to have negotiation and
pitching skills within the firm so that major issue as well as problems can be settle down
ins more efficient manner. This is an effective and helpful component that support in
taking corrective action and create possible situation like win win in the organisation. It
also provide benefits to the every individuals by making favourable decisions as well.
For every business firms, it can be difficult to negotiate with other people regarding any
topic. Boost morale of employees: It is an essential that best negotiation procedure can
increase productivities by making better decision in the negotiation process so that they
can feel highly motivated as well as valuable person at the working place. It also support
in building respect of those employees who are working and putting more efforts to
achieve set tasks or goals in an effective manner (Dawson, 2014). M&S always focus on
satisfying employees by providing various extra benefits to them so that productivities
can be increased in well manner. It also helps in creating good brand among competitors
in the market place.
 Different mindset or behaviours: It is also major reason for negotiation as in the
organisation, there are number of people works who have different mindsets as well as
nature. They come and begin process for the purpose of negotiation and mutual
agreements so that they can deal with particular contracts in an efficient ways. Every
individuals have their different point of views regarding any issues. It can be understand
by taking example, in the M&S firm the argument between manager and PA was related
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with salary issue so they make agreement their mutual understanding and agrees with 6%
from 5 % as per the situations.
Negotiation is the best process for making favourable decision by considering benefits for
both parties. It play crucial role in achieving set goals or objectives in more effective way
because this procedure is helpful to resolve problems or issues as well as conflicts related with
salary, office time and assignment of works within an organisation (Dierdorff, 2012). Therefore,
negotiation skills must be compulsory for making an effective organisation.
M1 Rationale for negotiation process with detail step and information required for preparation
Negotiation is defined as the set of process which is required to make favourable
decisions regarding business problems so that it can be run in an appropriate way. In this
included different steps or stages that also necessary to undertake during decisions making
process as well. Every organisation focus on getting more advantages and benefits for employers
or employees which can be possible by determining particular needs and desired expectations of
people within the organisation during process of negotiation. As per the case study of M&S,
manager and PA was negotiate due to increment of salary so company get feedbacks from their
employees and make better decisions. It also brings different opinions and mindset of people
while discussing the salary issue. In other words, negotiation can be considered as the commons
method that most of organisation undertake for handling situations in an effective manner.
There are defined some major steps which included in the negotiation process such as:
 First step: In this phase, parties generally decide the beginning point from which
negotiation process will be start with bottom line (Rubin, 2012). This process will be
going on till the ending point where deals must be accepted and agreed by both parties
for better contracts.
 In this process, several parties come with their own objectives which must be
undertaken during negotiation procedure.
 The next phase will focus on preparing appropriate plan with define the proper
sequences of proposal which is required for negotiating with other party as it provide the
space in the process.
 This is a beneficial process which support gathering necessary information such as goals
or objectives which is required for preparing meeting so that this process can be
conducted in an appropriate ways. It is considered in the negotiation skills that must be
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needed for describing about entire proposal and necessary questions so that better
decisions can be made.
 In this required more informations such as facts and figures, data, comparable costs and
some more important aspects so that particular solutions can be found out. Negotiation
process should be in effective manner and remove various negative elements such as
aggressiveness, lack of communication, risks or uncertainties, conflicts and many more
while negotiating with other party.
 In the next phase, another party set a particular criteria during offering proposal
(Bachrach, 2012). In this included some set parameters and number of responses which
is necessary for achieving goals or targets in an appropriate way.
 In the further stage, experts suggest some important Aspects and recommend better
solutions for defining proposal as well as get more feedbacks form other party so that
decisions can be made.
 The next phase consider a discussions among various people regarding any topic so that
it is necessary to take part in the negotiation process by every individuals.
 This process should be keep going till lowest point so that favourable decision can be
taken.
D1 Evaluate the steps of negotiation procedure and present solution regarding issues
From the answers, it can be analysed that negotiation process have included number of
stages as well as phases. This is an essential that recognise various issue or problems which have
chances of occurring during the negotiation process within the firm. Therefore, it is necessary to
undertake these problems while makings better decisions for the organisation. They focus on
getting more benefits for both employees and employers in an effective manner (Healy, 2011). In
the process of negotiations, firm decide the limitation for the mutual agreements so that
arguments can be won by the parties. Therefore, it can be analysed that every individuals
required better negotiation skills for the purpose of resolving issue or barriers as it will support in
achieving set targets or goals in an effective way. There are some ways for resolving issues and
find better solutions as well.
Authority to negotiate: In this defined that negotiation process should be starts with
authorised persons who have rights to take part in this process and take corrective decisions in
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well manner. It support in defining that individual have authority to make decision in negotiation
process.
Aggressiveness: It is necessary to remove these kinds of behaviours during the
negotiations process as aggressive behaviours can be dangerous for every individual because it is
responsible for resentment as well as create poor relations at the workplace within an
organisation (Hendricksen, 2014). Therefore, polite and friendly behaviours are required in this
process so negotiator have to behave like that.
Issues regarding salary increment: It is an another issue that should be resolved in better
manner as it is related with individuals and their productivities. Organisation have to make
appropriates decisions and it has impacted on the business performance as several ways. For
example: manager and his PA in the M&S company argued regarding salary issue which has
been settle downs by offering other benefits to PA.
TASK 2
M2 Apply RFP process and outline key documentation or consequences of breach an agreement
In this defined that a request proposal may be considered as the set of documents which
generally top level of management as well as organisational authorities used so that better IT
solutions can be get in an effective manner. RPF is an essential which play crucial role in getting
more advantages and provide better specifications to the other party who are finding the best
outcomes and establish the criteria related to the proposal in an appropriate way. For every
business firm, there must be required to solve the issues regarding RFP while running operations.
Here are defined some key documentations which beneficial for the RFP such as: Define the needs and requirement: In this process, company describe the particular
needs and demands so that they select best communications procedures by the vendors
for providing informations (Horton, 2016). This is known as time consuming process
because it has required sufficient time for the purpose of submit the proposal and check
it out in effective way.
 Communication procedure: In this, firm make better decisions regarding adopting of
communication channel or procedures so that information can be provided. It helps in
creating awareness among people about the business strategies, functions and many
decisions in the organisation.
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D2 Evaluate the competitive tendering with contract process and recommendation for successful
tender with minimum risk
In this consider the competitive tendering which defined as the helpful component which
used by public as well as private companies. This aspect support to force to whole suppliers and
also focus on getting better outcomes in an effective manner (Kamin, 2013). In this included
various components such as buying the best of mode of advertisements and achieve
sustainability in better ways.
Contract process is defined as an agreements to make appropriate contract in which
consists number of laws and legislations. It can be understood by undertaking contractual process
such as:
Stage 1. Initial discussion and check:
It is defined as the preliminary stage of contractual process as in this considered specific
discussion among peoples. It is related with some important discussion which is necessary for
particulars contract. In this process representative and authorised individuals consider the
discussions as they are responsible for reviewing regarding securities and many others.
Therefore, it is related with securities and its implication which is necessary for particular
contract.
Stage 2. Security requirement:
In this phase, contractors undertakes some aspects for the purpose of checking the
backgrounds that has been considered in above phase. Along with that, it defines several
situations or critical circumstances which is related with environmental elements and can be
change as per the time (Negrón, 2014). In this, contractors provide some important informations
regarding securities by considering various threats of legal or laws.
Stage 3. Security oversights and assurances:
In this phase, the contractor as well as contractual authorities generally give permissions
as well as granted regarding the assurances of contracts and oversights securities in an effective
manner. There are some criteria included in this such as Information Technology, physical
documentations, and nelson securities etc.
Stage 4. In-contract monitoring:
Last but not least, this is an important phase of the contractual agreements because in
this, entire procedures as well as securities are reviewed or monitored which is related with the
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oversight. This is very helpful in controlling over the process and communicate with other
parties in an effective manner.
Recommendation:
There are some recommendations for the competitive tendering and contracts should be
made in an effective way within the firm so that bests possible outcomes can be achieved
(Nudelman, 2017). Therefore, M&S company should undertakes some legal laws and
legislations while makings contracts as well as agreements so that they can make better decisions
in the organisation.
TASK 3
(Covered in PPT)
M3 Examine the pitch process and evaluate ways for maximising the chances of successful pitch
Pitch is a helpful aspects that used by every business firm for the purpose of overcomes
the internal costs or expenses in an effective manner. Generally, most of organisations
undertakes pitch to create or increase brand value in the market place. It is useful component for
generating revenues or profits in well manner. In the case of M&S firm, they are focusing on
launching new products or services in effective way. Therefore, the first step which they have to
undertake is promotions of those new products in the market place. It is very necessary to decide
the target audience and create awareness among them regarding new cloths, accessories and
many more. In this, they are required a better pitch that can be helpful for developing firm and in
this included several stages such as: Purpose: Here needed some specific objectives and purposes which helps in clearing the
exact aims and ambition regarding new products or services. company try to
communicate with its customers for providing necessary information to the people. Audience and language: It is related with proper audiences and languages with those
people who are ready to invest funds for developing new products or services in an
effective manner. It will support in attracting more investors or suppliers by appropriate
pitching. Subject matter and contents: In this, firm decide a appropriate matter and also content
that is very important for proper pitching so that messages can be conveyed to the
targeted audiences about particular products or services.
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 Proper planning and structure: In this step, firm formulate an appropriate plan and
better frameworks for informations so that every individual must be aware regarding new
product development.
 Deliver: It is defined about the favourables decisions in which firm decide that how
necessary resources can bes delivered to the targeted audiences. Investor provide
adequate funds for developing new products or services within the firm.
D3 Develop a dynamic and creative pitch which concise and persuasive to achieve sustainable
competitive edge
Pitch may be considered as the effective communications techniques that is necessary for
convincing investors and make sales in more efficient manner. It is an essential for providing
appropriate information regarding adopting strategies and develop new products or services to
the stakeholders and various investors so that they get ready for investments in the particular
project as well. There are number of tools or techniques that has been considered by the firms
such as group discussions, paper presentations, emails and other formal letter for attracting huge
investors towards new products and its development. Here are various forms of pitching such as:
Keep It Short and Simple (KISS): In this defined that there should be not lengthy
message or procedures in the pitch because it can be create delay as well as barriers while
providing information. Investors also will not take interest in pitching due to unclear and boring
pitch.
Focus ons proper execution: This is very important for every firm as they required to
implement their plan in well manner so that predetermine goals or objectives can be
accomplished in better ways. It will support in reducing chances of risks or uncertainties with
achieving financial assistance while pitching process.
Demonstration: It is very beneficial in defining the abilities and identify capabilities for
investing funds within the firm in an effective way. Therefore, M&S can consider this for
attaining set targets or objectives in an efficient manner.
TASK 4
P6 Assess the potential outcomes of a pitch
There are number of potential outcomes that can be achieved by appropriate pitching
which are as following:
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 Acceptance: This is an essential and helpful component which helps in getting potential
outcomes by considering the elevator pitch. In this, more investors are agreed for
investing more amount for developing new products in an impressive manner (O'brien,
2016). M&S have greater chance to attracts number of investors towards new project
with the help of pitching. Rejections: In this process, investors do not take interest for investments in any other
projects as they reject the proposal and not ready to invest funds regarding products or
services development. The reason may be unsatisfactory of investors. This is a negative
aspect which bring negative results in the organisation regarding elevator pitching.
 No responses: In such types of process, investors do not respond for any proposal due to
not taking interest as well as do not want to invest funds for any project so it can be bring
huge loss while running an organisation and develop new products and services in the
market place (Raposo, 2016). It also known as common outcomes where investors do not
respond regarding pitch as well. Shareholders and stakeholders generally waits for
investors responses in the elevator pitch so that they can start a new project and they also
excited to know about proper actions for achieving particular goals or get best outcomes.
M4 Recommendation for fulfilling their Post-pitch obligation and highlight potential issues
It is defined a the best and effective method which is necessary to adopt so that firm can
achieve set targets or goals in an appropriate way. It is related various responsibilities and duties
which must be performed by the every individuals who are involved in the pitching process.
Here are several obligations defined that must be considered by the company such as:
Build strong relationship: This is very important for every organisation for achieving
long term benefits or advantages in an effective manner. It is very compulsory for each firm that
to build and maintain relationship among people by providing accurate informations and
communicating with them in better ways (Paço and Ferreira, 2016). Businessman focus on
creating harmony systems with their stakeholders so that they can be satisfied and achieve set
tasks or goals in an efficient manner. So, here is recommendation for M&S company that to
concentrate on building effective relationship for long term benefits.
Greetings: In this, After pitching businessman consider greeting and maintain relations
among people as well as investors. Managers have to care about their investors and stakeholders
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as treat better manner and give some visiting cards or contact numbers to them so that they can
be stay connected for longer time.
D4 Critical evaluate the pitch and post pitch outcomes for potential issue and risk management
In this considered various risks or uncertainties which generally occurs while pitching
process. These affects on the business operations as they can create more conflicts or barriers
during operating organisation (Rich, 2013). Therefore, company has required to identify various
risks that have major impacts. Risk generally occurs during pitching so investors also can affect
from these and result barriers to bring investments for developing new products and services
within an organisation (Wiener, 2017). Company also needs to focus ons better relationship
among people for improving performances and increase work productivities within the firm.
CONCLUSION
From the above report, it has been concluded that pitching and negotiation skills are
required for every individual because these helps in reaching at particular point or decisions in an
appropriate manner. These play a crucial role in accomplishing set targets or objectives within an
organisation. Negotiation is helpful component that increase productivities and profitability by
settle down the conflicts or disputes in an appropriate way.
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REFRENCES
Books and Journals
Chang, J. and Rieple, A., 2013. Assessing students' entrepreneurial skills development in live
projects. Journal of Small Business and Enterprise Development. 20(1). pp. 225-241.
Cooke, B. and Zaby, A., 2015. Skill gaps in business education: fulfilling the needs of tech
startups in Berlin. Journal of Higher Education Theory and Practice. 15(4). p. 97.
Dawson, C., 2014. The Mature Student's Study Guide 2nd Edition: Essential Skills for Those
Returning to Education or Distance Learning. Hachette UK.
Dierdorff, E. C., Rubin, R. S. and Bachrach, D. G., 2012. Role expectations as antecedents of
citizenship and the moderating effects of work context. Journal of Management. 38(2).
pp. 573-598.
Healy, K., 2011. Social work methods and skills: the essential foundations of practice. Palgrave
Macmillan.
Hendricksen, D., 2014. 12 more essential skills for software architects. Addison-Wesley
Professional.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Kamin, M., 2013. Soft Skills Revolution: A Guide for Connecting with Compassion for Trainers,
Teams, and Leaders. John Wiley & Sons.
Negrón, R., 2014. New York City's Latino ethnolinguistic repertoire and the negotiation of
latinidad in conversation. Journal of Sociolinguistics. 18(1). pp. 87-118.
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.
O'brien, J., 2016. Negotiation for Procurement Professionals: A Proven Approach that Puts the
Buyer in Control. Kogan Page Publishers.
Paço, A., Ferreira, J. and Raposo, M., 2016. Development of entrepreneurship education
programmes for HEI students: The lean start-up approach. Journal of Entrepreneurship
Education. 19(2). p. 39.
Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship. 21(1).
Rich, C., 2013. The Yes Book: The Art of Better Negotiation. Random House.
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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