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Pitching and Negotiation Skills Assignment Solved

   

Added on  2021-02-21

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Professional Development
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PITCHING ANDNEGOTIATION SKILLS
Pitching and Negotiation Skills Assignment Solved_1

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3Negotiation in context of business.........................................................................................3Key steps for negotiation and generating business deal........................................................5Context of negotiation and importance of key individuals in it.............................................6Gain best deal / contract.........................................................................................................6How to generate new business and win deal..........................................................................7Tender for contract.................................................................................................................7Preparation for negotiation through request for proposal form .............................................7Responding to RFP.................................................................................................................8Contractual process and agreement........................................................................................8TASK 2 ...........................................................................................................................................82.1A request for proposal.......................................................................................................82.2A complete response to RFP...........................................................................................102.3Develop a pitch for applying the key principles that achieve sustainable competitive edge...............................................................................................................................................102.4Potential Outcome of pitch..............................................................................................112.5How Organisation fulfil their obligations .......................................................................12CONCLUSION .............................................................................................................................12REFERENCES .............................................................................................................................14
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INTRODUCTION Pitching skill is concerned as the combination of various activities which are used by theindividual to persuade customer's for buying certain product. While on the other handnegotiation is the strategic plan which in undertaken to solve the problem or encourage othersfor agreeing on common point. This means negotiation and pitching skill helps the individuals inpersuading other parties to agree on a particular point(Adriaensen, Bijsmans and Groen, 2019).With the help of these skills business start up advisor will be able to attract large number ofcustomer's for its business. The organisation chosen for this report is Cuisine coffee house whichis newly established in London. This report will majorly cover meaning of negotiation and therole of key stakeholders, steps required for negotiating and generating deals and the explanationprocess related to RFP and proposal. Various pitching principles for the achievement ofcompetitive edge will be also be covered in this report. With the help of this several issuesrelated to pitching will be solved in the effective and efficient manner. TASK 1 Negotiation in context of businessNegotiation is the process is generally undertaken for settling the differences and disputesin the best possible manner. In this type of process two or more than parties are involved whichcome together for agreeing on a common thing. The major motive of negotiation is to resolve theconflict and make best use of the agreement. Major focus is emphasised on taking fair decisionsfor the benefit of both the parties. Appropriate negotiation generally requires certain factors,these include- positive attitude, good inter- personnel skills ,adequate knowledge on a particulartopic, etc. The organisation generally requires to negotiate with its dealers and suppliers onregular basis(Benikovsky, Brida and Machaj,2012). For this individuals working in organisationrequires appropriate negotiation skills as with the help of this goals and objectives can be easilyachieved. Some of the major benefits of Negotiation are mentioned below- With the help of this cost of the product offered by the organisation can be reduced whichis result in high profitability. Negotiation can also help in establishing new product in the market. With the help of this better relationship with other parties can be formed.
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Negotiation is generally taken in the organisation for reducing price of the product. As with thehelp of this manager of organisation will be able to deal with the suppliers in the best possiblemanner. New and innovative products can also be provided to the customer's within limitedperiod of time. As better plans and strategies can be implemented for increasing the market shareand competitive advantage of the organisation(Berridge, 2011). Why negotiation occurs Negotiation is generally required in every type of organisation whether big or small, aswith the help of this chances of profitability can be easily increased. Chances of negotiationgenerally occurs when two parties are not able to decide and solve the problem. The outcome ofnegotiation can be- win win situation, win lose situation or lose lose situation for both the parties.Key stakeholder in the negotiation processNegotiation is generally done by the individual who have adequate knowledge realted tothe problem. As with the help of this better services can be provided to customer's andprofitability situation can be gained. Some of the major stakeholders which take part this type ofprocess is mentioned below- Top executive: The role of these stakeholders is to communicate strategies and policesmade for the employees of organisation. With the help of this individuals can easilyunderstand their responsibility within the organisation.Shareholder representative: The role of these individuals is to provide support toorganisation externally. This is done by investing large amount and planning to get highreturn on investment. Mediator- These are those individuals who passes information from one person toanother. This is information from top management is passed on to other subordinates bythese individuals in the organisation(East, Godfrey and Newman, 2010).The other party: In this type of shareholders government of particular country have rightto control and manages the activities of organisation. In this rules and regulations areimplemented as the government. Key steps for negotiation and generating business dealNegotiation is the ongoing process which is generally taken for getting desirableoutcome. If the organisation wants to achieve its long and short term goals than focus can beemphasised on following a structured format of negotiation. As with the help of this conflict can
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