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Pitching and Negotiation Skills Assignment (Sample)

   

Added on  2021-01-03

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PITCHING ANDNEGOTIATIONSKILLS

Table of ContentsTable of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Negotiation and key stakeholders during a negotiation process......................................3P2: Key steps and information required for negotiating and generating deals.......................5M1: Concise rationale for the negotiation process.................................................................6D1: Critically evaluate the steps of the negotiation process...................................................7TASK 2............................................................................................................................................7P3. RFP process and relevant types of documentation required............................................7P4. Contractual process and ways to manage and monitor relevant documentation..............9M2. RFP process within Waitrose........................................................................................11D1. Critical evaluation of competitive tendering and contracting process..........................12TASK 3..........................................................................................................................................12P5. Developing an appropriate pitch....................................................................................12M3. Examination and evaluation of the pitch process.........................................................14D3. Development of a dynamic and creative pitch..............................................................14TASK 4..........................................................................................................................................14P6. Assessment of the potential outcomes of a pitch...........................................................14M4. Recommendation for Waitrose to fulfil its post-pitch obligations................................17D4. Critical evaluation of pitch and post pitch outcomes to determine risk management...17CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19

INTRODUCTIONNegotiation is a process in which two parties makes settlement according to their owninterest and try to achieve more profit. Aim of both the parties is to settle their negotiation to anacceptable solution so that both the parties gain something from it (Negotiation Skills. 2018). Inthis report Waitrose & Partners is taken into consideration. It is a supermarket chain whichmainly specialize in food and headquarters in Berkshire, United kingdom. Negotiation andinformation required in the open process will be discussed below. Apart from that RFP andcontractual process will be discussed and how it is managed and monitored to make the bestutilization of it will be explained. Pitch will be made to attain a sustainable competitiveadvantage. After that outcome of the pitch and negotiation will be scrutinized. The projectdiscusses the reasons behind negotiation and the process of stakeholders commences. Along withthis, potential outcomes of a pitching are also included under this report.TASK 1P1: Negotiation and key stakeholders during a negotiation processNegotiation is an open process in which stakeholder try to settle down their differences togain the most out of negotiation. There should be at least two parties while making thenegotiation. The aim of Negotiation is to compromise the agreement while avoiding any conflictbetween the parties. However, their should be a fair decision taken by both the parties from themutual assent (Chang, Benamraoui and Rieple, 2014). The key factors while conducting anegotiation is attitude towards one another, knowledge related to the topic and last but not theleast interpersonal skills which includes communications, rapport building assertiveness etc.Waitrose have to face negotiation in daily life as they have to deal with suppliers and distributorswhile selling their products into the supermarket other than that they have to negotiate with theiremployees while fixing their salary. The benefits of negotiation for the company is discussedbelow,It reduce the cost price of the product in which Waitrose is buying thus increase inprofitability of the company.Waitrose can bring new products hence increasing their footfalls in the market.Negotiation can enhance the relationships between the parties.

Why does negotiation occur:Negotiation occurs in every business as it plays an important role in increasing theprofitability of the company. It happen when the parties are not deciding their outcomes andconfuse between the different result that arises from a situation (Cooke and Zaby, 2015). Thereare three different types of outcome that comes from the negotiation which are describe below,Win-win situations: In this, both the parties while negotiating gain the equal amount ofbenefits.Win-lose situations: In this situation, one party gain more benefits as compare to otherparty while negotiating.Lose-lose situations: When both the parties have to deal as bounded by the laws thusending up in loosing the benefits of the deal.In the context of Waitrose negotiation factors in described below,Negotiation happens in Waitrose as they have to fix their price and quantity of theproduct with suppliers and distributors so to buy the product in lesser price thus increasein profit for the firm.The company's main focus is to provide new products of different companies to thecustomer. Waitrose have to deal with companies so that they can sell their productsthrough their chain.Negotiation occurs at the time renewing the deals with companies who are providingtheir products to sell in the Waitrose chain. Key stakeholder in the negotiation processNegotiation is done by the individual who has better knowledge about the product whichthey are dealing and have good interpersonal skills so to grab the most profitable deal for thecompany (Coppens and et. al., 2014). Key stakeholder which takes parts in negotiation process isWaitrose top executive: They are responsible to communicate plans and policiesformulated by them to the employees in order to make easy for them to understand theirroles and responsibilities.Shareholder representative: They are the owners of company who is responsible toprovide externally support to the organisation by investing huge amount in company witha hope of getting maximum return on investment.

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