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Pitching and Negotiation Skills Assignment PDF

   

Added on  2020-12-18

13 Pages4559 Words281 Views
Pitching and negotiationskills

Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................11) and M1 Definition to negotiation and stakeholders in the negotiation process......................12), M1 and D1 Rationale to negotiation process and steps that an organization have to gothrough during this process..........................................................................................................23) Critically evaluating the steps that are included in negotiation process..................................3LO 2.................................................................................................................................................41) and M2 Application of RPF process in the organization and documents required in it..........42) and D2 Evaluating competitive tendering and contract process and recommending oncompleting the tender with minimum risk...................................................................................6LO 3.................................................................................................................................................71) and M3 Examining pitching process in organizational context and various ways tomaximize the chances of successful pitch...................................................................................72) and D3 Development of dynamic and creative pitch outcomes so as to ascertain potentialissues and risk management strategies........................................................................................7LO 4.................................................................................................................................................81) and M4 Potential outcomes of the pitch and various ways that can help in fulfilling postpitch obligations highlighting potential issues............................................................................82) and D4 Evaluating pitch and post pitch outcomes so as to determine potential issues andrisk management activities..........................................................................................................9CONCLUSION................................................................................................................................9

INTRODUCTIONNegotiation and pitching are considered to be the core aspects that are related to thebusiness. In such cases, the company must have appropriate policies and procedures that can helpin conducting these two aspects in the most defined manner. The present report makes acomprehensive discussion regarding negotiation aspect that is required to be concerned by themanagement of Marks and Spencer and process that can be followed by it in order to solve aparticular issue. The report will then focus on pitching document and various obligations that areattached to it are also required to be ensured. In the end, various pre and post pitch considerationwill be discussed so as to keep the risk aspect to the minimum. LO 11) and M1 Definition to negotiation and stakeholders in the negotiation processNegotiation is considered to be a strategic process that involves formal discussion betweenthe parties involved whose aims, objectives and intentions can be different. The case is especiallyin business or politics where negotiation takes place to reach to an agreement or settlement.Since, it is the issue which can lead to arising of conflicts between the parties, it helps in bringingthe divergent patients together in such a manner that they can continue their association forlonger period of time (Tse, 2014). The main aim of negotiation ios to resolve the point ofdifferences so as to gain the advantage which can help in fulfilment of collective objectives of allthe parties that are involved in the agreement process. The degree to which negotiating partiestrust each other helps in implementation of negotiate solution that has been assessed by them. Ithelps in ensuring that the negotiations being made are successful enough. Majority of thesituations are there where, two or more parties discover that there aims, objectives andviewpoints are not matching with each other. In such cases, they can move towards one viewpoint only if they try to settle down and resolve a conflict with mutual concern. The partiesinvolved in it must understand that it can help in achieving the best possible outcome that canserve their interest in the best possible manner. However, it is important to seek the principle offairness, seeking mutual benefits and maintain a relationship that can bring out possiblesuccessful outcomes for the parties. Stakeholders are the people who are directly or indirectly affected by the decision makingduring negotiation process. The term is generally taken into consideration when talkingregarding public, policy decision making or any type of dispute resolution that have certain1

representation that can affect the desired group. For instance, any citizens in the neighbourhoodmay be affected due to construction in the factory. Since, there is some interest that relies in theneighbours, in such cases, they will be referred as stakeholders for the organization. On the otherhand, positive interest can be in the form of gathering new job opportunities or the productproduced by the factory may be beneficial for the people living in the neighbourhood. Hence, itcan be stated that stakeholders do not have to be a part of the company, but their mereinvolvement in the task can directly make them active or inactive stakeholder of the organization(Tse, 2013).In the present scenario, the stakeholders of Marks and Spencer are, employee, who acts as amanager, his personal assistant, human resource department and other employees. Based uponthe case where assistant is asking for 10% hike in overall salary so as to meet out its expenses. 2), M1 and D1 Rationale to negotiation process and steps that an organization have to go throughduring this processIt is important to take decisions in such a manner that negotiation process is initiated in awell-defined manner. It can help in ensuring that the requirements of personal assistant arefulfilled with proper negotiation steps so that interest of none of the parties are hampered andleast impact can be attained on the overall profits of the organization as well. Hence, the fivesteps that are involved in negotiation process are:Preparation and planning: It is considered to be the first and most important step ofnegotiation process where both the parties are involved in organizing and accumulating thenecessary information so that effective negotiation process clan be initiated. Marks andSpencer need to prepare a full negotiation plan with the assistant so that interest of none ofthe parties in actually hampered. Information can act as a powerful tool in negotiationprocess and it can act adequate validity to the claims. Both the parties must indulge ininvestigating the profit history as salary issue is directly associated to it (Coppens and et.al.,2014). It can help the organization to assess that what is the highest amount that can be paidby the them to the employee after implementing hike in the salary. However, on the otherhand, assistant have to see that up to what amount he can negotiate with the organizationwhich can serve his purpose and concern as well. Definition of ground rules: It is considered to be the second step of negotiation where; rulesand procedures are required to be established for the planned negotiation process. It helps in2

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