Pitching and Negotiation Skills

This document provides detailed information on the importance of pitching and negotiation skills in business. It covers topics such as the occurrence of negotiation and stakeholders involved, evaluation of key steps and information in negotiation, RFP procedure and required documentation, contractual process and management of documentation, development of an appropriate pitch, assessment of potential outcomes of a pitch, and how organizations fulfill their obligations from a pitch.

PITCHING AND
NEGOTIATION
SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Negotiation, its occurrence and stakeholders........................................................................1
P2. Evaluation of key steps and information..............................................................................2
TASK 2............................................................................................................................................3
P3. RFP Procedure and documentation required........................................................................3
P4. Explanation of Contractual process and management and monitoring of documentation. . .5
TASK 3............................................................................................................................................6
P5. Development of appropriate pitch........................................................................................6
TASK 4............................................................................................................................................7
P6. Assessment of potential outcomes of a pitch........................................................................7
P7. Determination of how organisation fulfil their obligation from a pitch...............................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Pitching is comprehensively said to be as the effective process which showcases the idea
of the business representative to the several people like customers, investors’ suppliers and other
kind of stakeholders. Also, the respective method is commonly seen as the positive behaviour as
well as perception of the individuals for the particular product or service offered by the company.
This is mainly associated with the offering pitch by the entity towards the customers. However,
negotiation is mainly seen as the procedure acquired by the business representatives within the
company that ensures the understanding of variation among different parties that finally agrees
on the same grounds with their mutual acceptance. The present report covers detailed
information on the negotiation and its relation with the stakeholders, analysis of key steps
followed for negotiation, description on RFP proposal along with its documentation. In addition
to this, contractual process would be explained further with inclusive of pitch development and
its contribution in attaining competitive edge with results of the pitch negotiation.
TASK 1
P1. Negotiation, its occurrence and stakeholders
Negotiation is commonly seen as the effective process where businesses convince
associated stakeholders to get agreed on their specified terms and conditions. In this process
mutual settlement takes place. Also, it includes developed and adoption of the strategies with the
motive of maintaining cooperation. With reference to Walmart, business representatives are
required to have range of negotiations skills so that they can easily acquire higher benefits. The
main benefits among them are specified as below:
 Good negotiation practices simply helps individual in cracking beter deals.
 It also contributes in developing effective relationship with the customers.
 Effective negotiation skills also helps company in retaining its existing staff longer within
the company which ultimately contributes in the quick accomplishment of goals and
objectives in rapid manner.
In order to execute all negotiation practices within the company in an appropriate manner,
the respective company also requires developing strong communication skills among employees
so that they can easily make better decisions. Apart from this, it can be further said that different
stakeholder which are linked with the negotiation process of the Walmart are specified as below:
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 CEO: CEO is acknowledged as the most powerful stakeholder within every entity as they
are having high level of authorities towards the policies, schemes, employees’ payment
and many others. This clearly shows that its highly important for the individuals to have
better negotiation with the CEO and convince them with mutual settlement. Human Resource Manager: The respective HR manager is holds remarkable position
within the entity as they are capable of developing strong relations among employees and
employer. Therefore, it can be said that this person would surely understand perspective
of both the parties and gets agreed to the most feasible outcome towards the same.
 Employees: These would be quite an essential stakeholder group as the whole process
would be developed and implemented regarding negotiating with employees of the
company in terms of pay disputes.
P2. Evaluation of key steps and information
Negotiation is mainly referred to as the important part of every company as it supports
them out in executing their business decisions as the per the entity’s core process with the mutual
settlement with its stakeholders. This simply includes different steps that are required to be
adhered by the entity for indulging into negotiation and implemented it within Walmart. All of
these steps are specified as below:
 Planning: It is the first step of negotiation process where planning activities are executed
effectively. Here, the planning of the things includes investment reports, productivity
reports and many others. Along with this, it can be further said that parties which are
indulged into negotiation are required to make themselves prepared about the validity as
well as claims so that they can deal with the current time in appropriate manner. This can
be effectively done with the usage of 360 approaches. Ground Rules: This is the second step which takes place after the completion of the
planning stage. Here, ground rules are developed over the areas of place, time,
possibilities, anticipated conflicts, etc. Clarification: It is the third step which states the justification and clarification takes place
from the both parties in order to include their viewpoints into it. Here, employees’
perspectives are included while developing annual report so that productivity can be
increased by simply retaining staff into the company.
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 Problem Solving: This is an effective step where bargaining among the parties takes
place which can be seen as win or lose situation for the same entuty. This can be well
understood by taking example of company where salary dispute could be seen as the
major problem solving satiation. Main perception drawn by the HR manager within the
company is to retain staff by simply provided higher salary to them so that they can easily
attain higher profitability in rapid manner. Here, bargaining from the superiors would be
done on the basis of developing long term relations with the employees so that maximum
benefits could be attain by them within the same sector.
 Implementation: It is the last stage of negotiation process, where implementations of the
whole planned things are done. At this stage, decisions are taken by the company with the
mutual agreement of all parties involved in negotiation process.
TASK 2
P3. RFP Procedure and documentation required
Request For Proposal (RFP) is a business document that provide details about project and
solicit bids from several contractor. This involve certain steps which support the Walmart in
performing the negotiation practices appropriately and in systematic manner. These steps are as
follows:
 Assessment and Analysis:
This is first stage which involves the analysis as well as planning of a particular project.
In present scenario the manager of Walmart agree on increasing the salary of employees
which require them to perform additional investment. Thus, under this step the manger
will prepare a basic foundation idea about the particular project. Hence, in this process
the manager require proper documents in relation with the project, business plan,
business case, budgeting, timeline, etc.
 Development of RFP:
Once the requirement as well as planning variable get determined the next is to connect it
with preparation of RFP that are in direction of scope, deliverables, performance
standards etc. so it can be communicated to investors for bidding process. The
documentation in this step remains inclusive Statement of purpose, review timelines,
contractualterms and conditions.
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 Engagement:
In this stage the RFP will be communicated to all the investors selected to gather their
response after completion of window. In this there would be one to one conversation
among the manager of Walmart and selected investors to provide them with adequate
information regarding value of this deal. This step includedocumentations such as income
statement and Return on Investment, that support firm in getting effective deal.
 Negotiation and Contract:
In this step the responses of investors are analysed and negotiation will be performed to
determine most prominent investors. After this the firm will sign up investor for company
on contractual basis.
The process of drafting a business proposal is presented below:
BUSINESS PROPOSAL
Objectives Main objective of Walmart is to bring higher retention among
employees in order to get higher productivity and profitability.
Solution
The solution decided for this objective is to gain appropriate funding
and investment so that salaries of employees can be increase to
motivate and retain them to perform well.
Benefits
The increased productivity will support Walmart in getting higher
return as it leads to increase in overall productivity and working
standard of company.
P4. Explanation of Contractual process and management and monitoring of documentation
For an organisations like Walmart that operates at broad level is required to have an
appropriate contractual process and documentation are required to be maintained that help
organisation in getting perceived benefit as well as better security. The contractual process is
explained as under:
 Contract Selection:
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The first step is to decide type of contract to be adopt for getting maximum benefit. In
this case the Walmart must opt Non Statutory Stock Option Agreement, where the
investors get higher benefits and return when firm get able to enhance its value options.
 Gathering of Necessary Information:
This involve gathering appropriate information before contract get implemented. Hence
in this the Walmart should collect information about the statement of work, budget, acceptance
of proposal, payment schedules, etc.
 Selection of Negotiator:
In this Authorised signatory will be hired that get enter into the negotiation process for
biding the contract which support Walmart in negotiating with the investor regarding
payment.
 Review:
In this review is performed over agreement regarding terms and condition of agreement
so that if there is any deviation then it can be identified and rectified immediately by
interaction among investor and Walmart.
 Signing:
This is last step where both the parties after agreeing over terms sign the deal.
Additionally, documentation management and control is also essential in contract which
can be done through:
 The firm must collect all the information related with agreement together and if possible
save it in digital format.
 For better monitoring, a firm can higher specific authority who is authorised to access all
information.
 The information can be stored with more security using technologies like cloud
computing and artificial intelligence for better management.
TASK 3
P5. Development of appropriate pitch
Development of appropriate pitch is acknowledged as the preliminary motive of the
company. For this, they follow particular effective pitch process that is consisting of all the
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principles of competitive edge that could be attained by the company. The respective pitch
process is specified as below:
 Objective Development: At this level objective of the company is developed. With
reference to Walmart, it can be said that the respective company has good funds which
are supportive in providing higher pay to employees and developing better environment
for them. This simply results in the enhancement of productivity within the entity.
 Centralisation of Idea: Here, centralisation of the overall concept is made which is
surrounded by pitch. For Walmart, the idea which would be centralised is to gain higher
returns within minimum period of time. Presentation Structure: Here, effective presentation is developed for the stakeholders so
that they can be influenced towards the pitch. This raises chances of success for the same
entity.
 Factual Display: At this stage, all the associated factors are displayed with the motive of
recognising about facts that would provide back up to the pitch. This can be seen in the
form of the forecasted reports.
 Feedbacks: It is the last stage where feedback is taken by the stakeholders for the
determining core lack areas. So that appropriate action could be taken towards the same
in rapid manner.
Several principles which would be utilised alongside the steps are mentioned below:
 Regular policy updates
 Appropriate working relationships
 Effective Delegation
TASK 4
P6. Assessment of potential outcomes of a pitch
Outcome of every pitch can be seen in various forms. For Walmart, the potential outcome
of its pitch is stated below in descriptive manner: No response: This is seen as slightly negative outcome for the company as there are
probable chances that investors or the customers might not respond to the pitch. This
simply demotivates the employees as they are not able to judge the situation and take
required measure towards the same.
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 Rejection: In this, the proposal of the entity is rejected by the stakeholders. For dealing
with it, it is essential for entity to negotiate with the respective person in order to develop
better pitch towards the same.
 Acceptance: This is acknowledged as the most important and positive outcome of the
pitch which states the respective entity can easily move forward towards the deal.
P7. Determination of how organisation fulfil their obligation from a pitch
It has been acknowledged that there are several ways by Walmart can easily fulfil the
respective obligation associated with the pitch. Here, it can be said that obligation can be easily
fulfilled with post pitching. Also, the individuals are required to take regular based follow up
from the associated people with the motive of the reducing chances of future conflicts. Also, it
has been further seen that open ended pitching simply requires acquiring flexible modification in
the near future so that pitching of the business entity can be easily secured effectively. Apart
from this, it has been later realised that there are different issues that might take place in the
overall execution process of the pitch, the main among them are stated as below:
 Negative image of entity considered as another major issue for the same process as the
brand name of the company is inappropriate then it won’t be able to influence the interest
of the investors. Thus, they won’t be able to convince by the employees due to ineffective
image.
 Another issue associated with the pitching process is that there are probable chances that
employees might not be able to accomplish their prospected goals because there core
requirement keeps on changing with the passing period of time.
CONCLUSION
On the basis of overall information specified in the above section, it is concluded that
negotiation as well as pitching both the concepts are highly important for the business entity as it
supports them in cracking better deal with higher profit margins. Negotiation with the
stakeholders simply allows company in saving its expenses that ultimately raises their
profitability effectively. Also, detailed knowledge on RFP process, its documentation and
contractual processes simply helps the company in executing their all work related to this process
in rightful manner. Lastly, it has been analysed that development pitch directly supports
company in attaining their predetermined outcome in an appropriate manner.
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