Pitching and Negotiation Skills - Report

PITCHING AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Determining negotiation and reason for its occurrence along with Key stakeholders...........1
M1. Concise rational for the negotiation process including steps that organizations go through
during a negotiation process and the information required in preparation.................................2
D1 Evaluate the steps of the negotiation process and present valid solution for dealing with
issues that can arise.....................................................................................................................3
TASK 2............................................................................................................................................4
M2 REP process within an organizational, outlining the key documentations required and
consequences of breaching the terms of an agreement...............................................................4
D2 Competitive tending and contract process and make recommendations for completing a
successful tender with minimal risk............................................................................................5
TASK 3............................................................................................................................................5
M3 Pitch process in an organization, evaluating ways to maximise the chances of a successful
pitch.............................................................................................................................................5
D3 Dynamic and creative pitch that is both concise and persuasive to achieve a sustainable
competitive edge.........................................................................................................................6
TASK 4............................................................................................................................................7
P6 Potential outcomes of a pitch.................................................................................................7
M4 Ways in which an organisation can fulfil their post- pitch obligations, highlighting and
potential issues............................................................................................................................8
D4 Evaluate the pitch and post pitch outcomes to determine potential issues and risk
management................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
As per the current market scenario, most of the companies produce commodities in order
to sell their products so as to gaining maximum profits. Therefore, it is necessary that an
individual has pitching and negotiations skills. This assists them in winning all the contracts
according to the terms and conditions. Basically, this kind of concept is used by small and
medium firms so as to provide excellent services and facilities (Chang and Rieple, 2013). If
company utilises excellent pitching and negotiation skills then they can perform the tasks in an
effective manner that will help them in having healthy relations with other companies and
stakeholders as well. Marks and Spencer is a leading organisation in the United Kingdom that
deals in products related with clothing and household items. Company was established in the
year 1884. Report throws light on determining reason behind negotiation and the process of
stakeholders commences. Lastly, the potential outcomes of a pitching are covered in this
assignment.
TASK 1
P1 Determining negotiation and reason for its occurrence along with Key stakeholders
The action or process of transferring legal ownership of a document can be known as
negotiation. In other words, it is a concept under which two or more companies or individual
come together in order to resolve their problems through effective process. This helps them in
achieving excellent results by eliminating all the issues that are creating problems in business
operations. It is much required for two business entities in order to do business with transparency
so that no fraudulent activities can be done from any of them. Apart from this, factors that are
required for effective communication are used so that they can interact with other people
effectively (Cooke and Zaby, 2015). Therefore, it is creating transparency in between employees
and customers. As a result, it is helping them in sustaining better relations and at the same time,
minimises chances of conflicts. Thus, some of the negotiation process which are used by M&S
given below mention:
Reducing Conflicts: Manager and superiors of an organisation face many problems in
order to sustain a better position in the market. For this, it is necessary that company has
effective strategies which they can follow for getting the best results. There are ample number of
theories and concepts like Maslow's motivational theory and others which can help an
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organisation in developing proper relation among employer and employees. It is much required
for Marks and Spencer so that development can be done of products and services that they are
offering at marketplace. It is being seen that suggestions that are been given by employees may
aid an organisation in raising its profitability and productivity both at the same time. Therefore, it
is important that managers of Marks and Spencer monitor the performance of their employees on
a regular basis so that superiors can evaluate the problem that is creating conflicts amongst
workers. Hence, it enables them in attaining the positive results in a specific period of time.
Creating win-win situation: A win win situation is when a company raises its reputation
at a market, profit, productivity, sales and other things through delivering products and services
in an appropriate manner to consumers according to their needs. Variety in culture can be seen at
workplace with different mind-sets. This helps an organisation in resolving the problems through
various methods so as to gain excellent outcomes. Therefore, negotiation assists the organisation
in identifying the situations effectively so that goals and objectives can be attained properly
(Dierdorff, Rubin and Bachrach, 2012).
Building up respect: For working in an organisation, it is important that a healthy
environment is maintained and this can be possible when all the employees and superiors will be
given with importance and respect as well. Therefore, managers of Marks and Spencer are taking
feedbacks and reviews from employees so as to know whether workers are having any problem
in accomplishing the tasks appropriately or not. As a result, it is assisting them in achieving goals
and set targets in a given time frame (Dawson, 2014). Further, Marks and Spencer is using
negotiation skills for communication with customers so that a healthy relationship will be
maintained in between them. This can be done through asking for feedbacks from consumers
after when they use products and services that they have sold. With the help of this, organisation
can create long term relation with consumer. Along with this, company can create win win
situation at marketplace and may give good rivalry to competitors.
Different mind-set: This can be one of the reasons of conflicts in between employees as
they may not agree with the views and thoughts of one another. For example: as per the given
scenario, an issue is arising between the manager and PA in terms of pay scale and it is creating
problem for superior to cooperate with other members of the board. Therefore, negotiation is
used in this and a thought is presented to which both can agree. This will help them in resolving
the problem in a better manner without any conflicts (Healy, 2011).
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