Pitching and Negotiation Skills

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Pitching and Negotiation
Skills

Table of Contents
INTRODUCTION.................................................................................................................................3
LO1.......................................................................................................................................................3
P1. Key concepts of negotiation........................................................................................................3
P2. Key steps and information for negotiation and generating deal...................................................4
LO2.......................................................................................................................................................6
P3. ERP Process................................................................................................................................6
P4. Contractual process.....................................................................................................................7
LO3.......................................................................................................................................................7
P5. Development of appropriate pitch for contract............................................................................7
LO4.......................................................................................................................................................8
P6. Potential outcome of pitch...........................................................................................................8
P7. Fulfilment of obligation from pitch.............................................................................................8
CONCLUSION.....................................................................................................................................9
REFERENCES....................................................................................................................................10

INTRODUCTION
Negotiation is defined as a process which involves individual or a bunch of human
being come together to overcome the differences in the deal. This report is based on the case
study of Wal-Mart Company. Company initiated its business in the year 1962 by the founder
Sam Walton. Company operate its operations in retail sector. Headquarter of company is
located in United States. This report will emphasis on different aspects related to negotiation
process. ERP process will also discuss in this report. Process used to frame a contract for
negotiation will also discuss. Negotiation pitch will also be a part of the project. Potential
results related to pitching will also discuss.
LO1
P1. Key concepts of negotiation
Negotiation is a process implemented by the bunch of individuals to achieve the
common goals and objectives of business. Negotiation is like a strategic direction provided to
a deal which can allow both parties involve in deal to feel acceptable for the deal. Negotiation
is all about some give or take in a deal. It important for all the parties involved in deal to skip
some kind of individual interest involve in deal to achieve the mutual objectives in deal.
Stakeholders involve in negotiation process
Following stakeholders are a part of the negotiation process.
Project manager: Project manager is among the key stakeholder involve in negotiation
process. In Wall Mart Company follow the approach where project manager handle the
negotiation deal for the project. Project manager needs to involve the negotiation deal to
achieve the overall objectives of the deal (Andrews, 2019). Manager also needs to consider
the points made by other parties involve in the negotiation deal.
Company: Company is also another key stakeholder involve in negotiation deal. Company
needs to involve its individual interest in the deal in order to crack the negotiation deal. It has
to involve its own individual values so that overall objectives of business can be achieved.
Investor: Investors are among the primary stakeholder part of the negotiation process.
Investor put its money in the deal. Investor gets to see the profitability involve in the project
before talking any step further in the deal. Wal-Mart Company associated with different

investors like shareholder of company, banks, sponsors and other trade partners. All these
investors bring money on the table for the company so that all policies of the company can be
implemented.
Suppliers: Suppliers are the individuals who maintain supply chain of the company. In very
deal it’s important for the company to have a proper supply chain management system. Its
important for the company to maintain trendy and fashionable products in its stores so that
company can attract its customers. Company also needs to see the interest of the suppliers in
every negotiation deal.
The above mentioned lists are among the key stakeholders involving negotiation deal.
Company needs to take the interest of all the above mentioned stakeholders in its negotiation
deal in order to initiate any new project for the further growth of the organisation.
P2. Key steps and information for negotiation and generating deal
Following are the key information and steps needed to take in order to conduct the
negotiation deal. All the information and steps adds value in the entire negotiation process for
the company.
Preparation and planning: Preparation and planning is the primary function involve in
negotiation process. Initially company needs to prepare the precise presentation based on the
needs of the project (Benton and Visbal, 2019). The presentation will involve all key benefits
from the deal. Other planning’s like proper pitching, highlighting limitations of the project
and other key aspects of the project will also be a part of the preparation and planning step of
negotiation process.
Definition of ground rules: Ground rule play important role in implementing the negotiation
process. It becomes important for all the parties involved in the negotiation deal to clarify all
the ground rules part of the deal. This rule conducts the strengths and limitations of the
project. This ground rule will involve the terms and conditions involve in the deal.
Clarification and justification: This is the most significant stage involve in negotiation deal.
While conducting the negotiation process many doubts and issues also a part of the project.
Investors and all different parties part of the project get confuse about many things involve in
the negotiation deal. It becomes essential for the project management at Wall Mart Company
to clarify all doubts arises in the minds of all different parties involve in negotiation deal.

Bargaining and problem solving: Bargaining and problem solving is also an important
stage involve in negotiation deal. All parties involved in the deal try to negotiate the deal in
the individual favours. Project manager needs to negotiate the deal in such a way that
company get the best advantages out of the deal.
Closure and implementation: This is the final stage involve in negotiation process. This is
the stage involve in the deal where the deal gets its final stage to crack (COURIER, 2016).
All parties involved in the deal are agreed to conduct the deal with the support of negotiation
process. All parties are convinced with the deal benefits. Project manager needs to implement
the entire deal in this stage.
Information in negotiation
Following information becomes essential for the negotiation process.
Negotiation goal: This is important information that what the objectives behind the
negotiation deal are. What company try to achieve from the deal gets to clarifies in this stage.
Game plan of negotiation: Complete information about the game plan involve in the
negotiation deal must be available (Guerra, 2018). What is the possible game plan for the
project all parties and especially the project manager must be aware with the project. In order
to deal with the limitation involve in the negotiation deal what possibly would be the game
plan of company will be discussed in this segment.
Information about counterpart: Information about the counterpart must also be available
while pitching the project. Project manager must be ready to give the answer of all questions
investors and other parties involve in negotiation deal would ask.
Limitation of negotiation: What are the areas of the negotiation deal that carry the limitation
of the deal (Higgins, 2019). This must be precisely specify for the project manager that what
are the possible areas and fields where company carry the limitations or the deal is getting the
limited advantages.
Strategic planning against limitation: What are the strategies that will work to counter the
limitation must also be known by the project manager.

Profitability: What is the profitability can be expected from project must be known by
project manager. Precise information in respect to profitability must be available with the
project manager.
LO2
P3. ERP Process
ERP process is a systematic process to conduct the negotiation process. It involve
stages like comparing bids, establishing negotiation team, establishing a negotiable target and
strategy, assisting with contract review an also it involve assisting with negotiation.
Comparing bids: Comparing big is the initial stage of negotiation. It involves comparative
analysis between all different options available in front of the investors and other key
stakeholders (Jiang and et.al., 2018). In this stage negotiator project all positive points
involve in the deal.
Establishing a negotiable team: Project management at Wal-Mart Company form a proper
team to conduct the negotiation process. Team conduct all different operations involve in
negotiation.
Establish negotiation target and strategy: This is the stage where the team establish the
precise targets behind the negotiation process.
Assisting with contract review: This is also a crucial stage involve in negotiation process.
This is the stage where contract is formed between the parties involved in negotiation.
Assisting with negotiation: This is the final stage of negotiation in which project manager
assists all stakeholder with the negotiation done on a final basis so that no confusions
becomes part of it.
Documents of negotiation
In case of negotiation documents like letter of intent and contract.
Letter of intent: Letter of intent is a formal letter involve in the contract which portrait that
all parties part of the contract are ready about the terms and conditions involve in contract.

Contract: Contract is a document which project about the terms and conditions of the
contract precisely (Parry, 2018). This is the paper that projects the entire terms and conditions
of the contract.
P4. Contractual process
Contractual process summarises into four parts.
Payment term: Payment term is a crucial part of the contract. This is the stage involve in
contract which project the terms on which payment will be made by investors involve in
contract. This is the agreement involve in contract that portrait about the ways all investor
will pay their individual shares in the contract.
Contract value: Total value of the contract will mention here. This is an important clause
involve in contract which denotes about the individual stakeholders involvement in the
contract in term of financial figures (Taylor, 2020).
Initial date of contract: This is the date which will be the initial time of the contract. This is
the date on which the contract between all stakeholders will start. This is the date of initial
stage of the project.
Price of contract: Total price of contract will mention here. This is an important clause
involve in contract which denote the total price behind the contract or a deal.
LO3
P5. Development of appropriate pitch for contract
Real customer story
Real customer story will enhance the credibility of the pitching. This will
communicate about the actual changes market will address with the support of this deal. This
will involve why the project is essential for the Wal-Mart Company. Real customer story will
pitch the actual significance of the contract for the company.
Essential element involve in the project
All the key factors part of the project will mention here. Project manager at Wal-Mart
Company will highlight all key factors involve in contract. This is the most appropriate place
involve in contract which portrait all the driving factors involve in contract.

Outlining business model
What is the business model Wal-Mart Company. What are the values of the company
project manager pitch in this part. Business model of the Wall Mart involve ensuring quality
products at the most affordable price structure (Tremblay-Dionne and Lee, 2019). Project
manager put the points in front of the investor about how effectively the contract will address
different moral values of the company in the contract.
Crystal clear presentation
The presentation must be crystal clear. Presentation must involve all key benefits
associated with the project. Expected amount of profitability this project will address.
Presentation shall involve limitation of the project.
Competition
Market competition company will face during the implementation of this contract will
involve in this part. Total available competition will mention in this part of the pitching.
Potential outcome of project
This part of pitching will project what are the potential outcome company will gain
from the project.
LO4
P6. Potential outcome of pitch
What are the potential outcomes Wal-Mart Company will get must be a part of the
pitching. Project manager must also mention the expected profitability involve in the project
for other companies like P&G for the project. Profitability is the most effective objective
behind the project. Project manager must not over evaluate the profitability rather he must not
undervalue the profitability.
P7. Fulfilment of obligation from pitch
Project manager at Wal-Mart Company must address what are the issues company is
going to deal with the support the project. In what ways company will gain strategic
advantages of the project will also be a part of pitching. What are the strategies that will
support the competitive advantages in the project must be addressed.

CONCLUSION
Negotiation is all about bringing all stakeholders part of the project over a common
goal. This involves dealing up effectively with the profitability concern of all the
stakeholders’ part of the deal. Negotiation must involve different factors like profits involve
in the contract, challenges contract will face in market. Potential market available for the deal
and other relevant factors associated with the contract must be a part of pitching for contract.
Total values of profits and other factors must be a part of the contract.

REFERENCES
Books and Journals
Andrews, S. S., 2019. Rethinking Transactional Jurisprudence in Copyright: Nigeria’s
Unconscious Edge. Lagos State University Law Journal (Nigeria), Forthcoming.
Benton, S. I. and Visbal, M. R., 2019. Extending the Reynolds Number Range of High-
Frequency Control of Dynamic Stall. AIAA Journal. pp.2675-2681.
COURIER, E. P. O. B., 2016. Supply of O-18 Enriched Target Water with an O-18 Isotopic
Concentration of≥ 98.0%. Three (3) Year Contract.
Guerra, J. T., 2018. Investigating the Effect of an Upstream Spheroid on Tandem Hydrofoils.
Higgins, A. W., 2019. Correlations Between Shoulder Rotational Motion, Strength Measures
and Throwing Biomechanics in Collegiate Baseball Pitchers.
Jiang, W. and et.al., 2018. Numerical investigation into the effect of nonlinear spring on the
adaptation of an oscillating foil for energy extraction. Renewable Energy. 117.
pp.12-21.
Parry, G., 2018. Enterprise Imaging: Picturing the Service-Value System. In Practices and
Tools for Servitization (pp. 343-361). Palgrave Macmillan, Cham.
Taylor, P., 2020. How to Choose the Right Supplier. ITNOW. 62(2). pp.48-49.
Tremblay-Dionne, V. and Lee, T., 2019. Experimental Study on Effect of Wavelength and
Amplitude of Wavy Ground on a NACA 0012 Airfoil. Journal of Aerospace
Engineering. 32(5). p.04019064.