The Impact of Pitching Processes in Business

The assignment delves into the significance of pitching processes within organizations. It examines various aspects, including pre-pitch planning, strategies for crafting effective pitches, and the fulfillment of post-pitch obligations. The document highlights how successful pitching can contribute to organizational goals, such as increased profitability and employee motivation.

Pitching and Negotiation
Skills

Table of Contents
LO 1.................................................................................................................................................3
P1 What is negotiation and stakeholders involved in negotiation process.................................3
P2 Key steps and information that is needed in negotiating deals within company...................4
M1 Rationale on the steps of the negotiation process.................................................................5
D1) Solution for manage the conflicts and issue within the company........................................5
LO 2.................................................................................................................................................5
P3 Explanation about the Request for proposal procedure and several kinds of documentation
required.......................................................................................................................................5
P4 Explanation about the contractual process and how relevant documentation is managed and
monitored....................................................................................................................................7
M2 RPF procedure within Marks and Spencer and consequences at the breaching of contract.8
D2 Evaluation about the competitive tendering and contract process and make
recommendation..........................................................................................................................9
P5, M3, D3..................................................................................................................................9
P6 Assessment of the potential outcome of pitch.......................................................................9
P7 How organization fulfil their obligation from a pitch...........................................................9
M4 Recommendation of ways in which an organization can fulfill their post pitch obligation
...................................................................................................................................................10
D4 Evaluation about the pitch and post outcome......................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
In an organisation, human resource is key assets by which entire procedure of business
and activities can conduct for accomplish its target. Thus, it is significant for management to
develop healthy relationship with employees through which they can retain within corporation
for long time. Negotiation and pitching is a process that occurs in the company between the
employer and employees while any conflicts arises (Horton, 2016). The present report provides
the detail knowledge and understanding about the contractual process and management of the
documentation with respect of Marks and Spencer company. Key steps and information required
in the negotiation dealing has been also discussed in this report. In addition to this, development
of appropriate pitch by applying several principles of negotiation and pitching has been also
discussed in this study. The major objective of this assignment is to obtain effective information
regarding negotiation and pitching process within the business unit.
LO 1
P1 What is negotiation and stakeholders involved in negotiation process
Negotiation is basically a process by which compromise and agreement between peoples
has been done while avoiding argument and dispute. Negotiation are used in many situations like
an international affairs and the legal system of government , domestic relationship. It is the best
skills and can be great benefits solving differences between you and others.
Different negotiation process include :
Preparation process: this stage shows all the pertinent facts and all type of situation in order to
clarify your own position. Before you discussing about the fact and disagreement will help
to aviod wasting time. You take a decisions need to be taken as where meeting will take
place and discuss the problem of peoples.
Discussion process: discussion process include many key skills like questioning , listening and
clarifying. Each members put their own point of view and understand the situation. Some
times it is very helpful to record all point and forwarded, in case there is any need and
requirement of clarification. In this stage there are equal right to put their own point of view
and opportunity to present their cases (Paço, Ferreira and Raposo, 2017).
Clarifying process: these process has some goals interest and view point of both sides need to
be clarified. It is very helpful to identify or establish some common and important point.
These process is essential part of negotiation process.

Agreement: it is essential for every body to keep an open mind and to achieve a good solution.
Agreement need to be clear so that both side know about what has to be decided in their
discussion.
Implementing a course of action process: these process involves strategic thinking and action
planing. Strategic planing implemented and then after ward you will start the project .every one
who has leadership quality and skills.
P2 Key steps and information that is needed in negotiating deals within company
While negotiation process occurs within the company then it is very important to collect
and analyzed all necessary information regarding the issues among parties. In the context of
Marks and Spencer, while negotiation occurs within the employer and employees then various
stages required to consider. These stages are discussed below-
 Preparation and planning- This is the first stage of the negotiation under which both
parties identify the actual reason of the issue and conflicts (Green, Pease and Davila,
2016). On the basis of collected information in negotiation, parties develop a systematic
plan for the negotiation. This is very important stage that helps in better execution of
several operations and achieve its requirements.
 Definition of the ground rules- Once the planning has designed for the negotiation then in
the next stage, parties looks toward the rules and regulation regarding the negotiation.
The rules and regulation plays a very significant role by which negotiation among parties
can conduct in effective and efficient manner.
 Illumination and the support: Now both the gatherings will give their thoughts and the
information about the contention and will give the appropriate defense for their activity
and telling their prerequisites for better basic leadership (Sullivan, 2015).
 Bartering and the critical thinking: In this the appropriate measures are been taken into
the thought and the arrangements are been recommended for the better execution of the
transaction procedure.
 Conclusion and usage: It is the last advance where the suitable arrangement is been taken
into the thought by the concerning gatherings and it is executed in the organization to
maintain a strategic distance from event of the contention later on.

M1 Rationale on the steps of the negotiation process.
Different advances like arranging, meaning of fundamental standards, avocation of the
reasons, critical thinking and the usage of the best possible advances are been taken into the
thought for the better execution of the arrangement procedure in the association. This helps the
firm likeMarks and Spencer top contemplate, the reasonable apportions to convey the usefulness
of the association (Wiener, 2017).
D1) Solution for manage the conflicts and issue within the company
Different answers for manage the transaction procedure in the organization. It
incorporates the different advances like better correspondence process, embracing of proper
correspondence process and dealing with the contentions between the worker's utilizing the
suitable apportions to convey the usefulness of the association.
LO 2
P3 Explanation about the Request for proposal procedure and several kinds of documentation
required
Request for proposal is a documentation which assists to management in taking decision
regarding business activities and functions. It is carried out by the agency and carried out by the
bidding procedure. In a simple word it can be said that for of business proposal and the tender
which has been provided by the company in order to bid for the new contract and business
(Elenurm, 2016). In this procedure included several kinds of the documentation that will be
required for the better preparation of the various business proposals in the company like Marks
and Spencer. In this document included several aspects like market analysis, quotation, business
plan which is designed by the company in order to address the determined objective. In addition
to this, it includes various kinds of contracts and agreement with stakeholders of organization.
In other words it can be said that Request for proposal is the legal document which is issued by
company so as entrepreneur can provide bid to them.
It resembles getting proposition for business administrations or items from open. It
resembles a delicate that incorporates determinations, units required , and so forth. It is issued for
particular undertaking. Additionally, it portrays how seller will convey products to association
and what duties he will have amid conveyance of merchandise. Delicate is issued with the goal
that association can get offers from different sellers and after that select the best one. Likewise, it

helps in discovering powerful highlighted item at shabby cost. There are different advances
associated with this procedure that is as per the following:-
Set up venture limits It characterizes the prerequisites of task. In this elements, for example,
spending plan, due date, and so on of venture is said depicting the general task. This aides in
giving an understanding to Request to proposition process (O'brien, 2016).
Recognize partner This stage includes the support of partners. It is done to take perspectives and
thoughts of them in influencing Request for proposition to process. Additionally, if any seller
exits inside them, at that point it can be come to by association.
Characterizing venture needs-By talking about with partners extends needs are resolved. This
aides in recognizing what necessities will extend have.
Composing Request for proposition This progression includes drafting the Request for
proposition. Diverse things are composed in it, for example, highlights, due dates, spending plan,
and so on by association.
Circle Request for proposition After Request for proposition is composed particular media is
utilized to flow it. It is been sent to potential sellers. Media utilized are daily papers, web, and so
forth.
Audit reactions- Various reactions lands after course. Association audits those with a few
benchmarks that are set by them. It requires a ton of investment as specific elements are assessed
in this to locate the best one. In addition, specialists are employed for doing this (Haddad, 2014).
Seller records-The reputation of merchants are seen who have been chosen. This is done to
guarantee the unwavering quality of seller. Additionally, some of them are killed in the event
that they don't meet the necessities.
Choosing and marking a merchant In this progression last choice of seller is made by association.
An agreement is marked amongst seller and friends. It guarantees that products gave by
merchant will accord to criteria specified in Request for proposition.
The Request for proposition record contains a few imperative components that is characterized
beneath:-
Arranging- It is done to influence the Request for proposition to process simple. It provides
guidance on what strategy must be taken after while drafting Request for proposition and
choosing merchant. This spares the cost and time of organization

Characterizing need-This is the most fundamental component as it gives a knowledge to seller
on venture needs. It requires a great deal of investment as any deviation in characterizing need
can prompt loss of whole undertaking. Other than this, hierarchical culture data is likewise
specified in Request for proposition report (Cianca, 2016.)
Correspondence system This depicts the route through which correspondence will be finished
with sellers. For instance whether it will be immediate or aberrant correspondence.
Assessment criteria-In this specific criteria is settled on which Request for proposition will be
assessed. It is essential since it appears on what factors merchant proposition was chosen
P4 Explanation about the contractual process and how relevant documentation is managed and
monitored.
A contractual procedure is the activity that is conducted between organization and seller.
In addition to this, a procurement is a process and act of buying and selling of product and
services. The parties enter into the contract for perform some specific task and activities in
effective manner so as their objective can impressively fulfill. In order to conduct contractual
process and manage the documentation, Marks and Spencer can consider several methods which
are discussed below-
 Open Tendering- This kind of tendering done by various vendors. Corporation gets the
advantages by identifying better goods delivered by vendor. It is very effective tendering
because it allows competition within the vendors (Mrozewski and et.al., 2016).
 Restricted tendering- In these kinds of tendering vendors are allowed to bid. This vendor
are either selected by suppliers or management. It aids in finding right vendor with high
quality of goods and services.
 Request for proposal- The organization issues this legal document so as bid can provide
to the vendor. It is like tender which issues for specific project and includes specification
and unit required.
 Two stage tendering- This is another one of the most significant stage in the request for
proposal process under which two stages are included. First stage similar to request for
proposal and second one includes partial proposal.
 Request for quotations- Typically, independent venture utilizes this as it spares time and
cost for them. Other than this, it doesn't require a great deal of printed material like RFP

process. Likewise, it don't comprise of formal draft however just citations. In addition,
determination of merchant is effortlessly done by examining their citations.
M2 RPF procedure within Marks and Spencer and consequences at the breaching of contract
At Marks and Spencer, the RPF procedure will be done in an extremely consecutive way.
For example, the refered to firm will build up an agreement with one of its provider which will
be done as takes after:
The business association and the provider will choose the business proposition or the agreement
in light of the shared understanding and will take a shot at its advancement.
Both the gatherings will gather the imperative and fundamental reports like planning, booking
and other lawful commitments, that are essential for the better advancement of the agreement or
the proposition.
Once the fundamental reports are been gathered and the agreement is been created, both the
concerning parties, with the shared assention will designate an arbitrator who will dissect the
agreement from the point of view of the two gatherings and will make reasonable changes to
make it effective (David and et.al., 2018).
The last survey of the agreement report is been done and all the business conditions and the
transaction are been incorporated.
In the last advance, the agreement will be marked by the administration ofMarks and Spencer
and the provider as the Marks of acknowledgment
D2 Evaluation about the competitive tendering and contract process and make recommendation
A delicate must be created remembering the different necessities of the searcher and the offices
gave by the candidate in view of his operational limit. For an effective delicate, the operational
cost and the assets ought to be considered properly with a specific end goal to expand its odds of
acknowledgment (Nudelman, 2017). The delicate or the business proposition must convey the
fitting points of interest and the portrayal of the different lawful and business commitment that
will influence the agreement or the delicate and help being developed of the better
comprehension among the accomplices, causing the ascent in the efficiency and productivity.
P5, M3, D3
Converted in PPT

P6 Assessment of the potential outcome of pitch
A pitch in generally delivering a business plan verbally. It helps to entrepreneur for
represent their idea regarding business for accomplish its target within specific time. With
assistance of the pitching process, entrepreneur can easily assess the various operations and
activities of business. The pitching procedure will help to organization to adopt effective
measures. In the context of Marks and Spencer, following are various effective potential
outcomes-
 With assistance of the pitching process, Marks and Spencer company can easily identify
its actual goal of business and develop strategy for accomplish it.
 Pitching process assists to corporation in increasing its profitability and productivity by
by adopt suitable and effective measures (McNeill and et.al., 2014).
 The pitch procedure also helps to corporation in motivate employees for higher
performance and productivity.
P7 How organization fulfil their obligation from a pitch
Within organization, at the time of pitching several kinds of issue arises among
employees and employers. Marks and Spencer may face several kinds of issue which are
discussed below-
 Sometime, pitching process is too long and time consuming through which confusion can
creates among the employees and other stakeholders (Vogel, 2015).
 Sometime pitch process is unable to understand by employees and other stakeholders
because it is not well written.
 Due to the lack of systematic planning and procedure, there is created issue within the
company which may directly affect the operation and business activities of business unit.
M4 Recommendation of ways in which an organization can fulfill their post pitch obligation
Once the pitch is been conveyed, there are sure commitments that the association is
required to satisfy keeping in mind the end goal to pick up a superior efficiency and benefit. The
compelling administration of the pitching is exceptionally essential for the better execution of the
different activities of the organization (Drumm, 2015). For instance, the breaking of the contact
or the disappointment of the better exchange of the data will prompt the in general ruin of the
operational structure of the organization, subsequently, influencing its efficiency and
profitability.

D4 Evaluation about the pitch and post outcome
While amid the pitch procedure, the message is been passed on live to the accomplices,
representative's and the customer's, in the post pitch they will re evaluate the conveyed the
measures and will take care of the proficient running of the tasks in the association. This will
enable the organization to go out on a limb the reasonable measures of hazard appraisal to like
staying away from the correspondence hole and dealing with the better correspondence process.
CONCLUSION
From this entire report it has been concluded that negotiation and pitching is a procedure
within company by which business activities and functions are effectively organized. By help of
effective pitch, company can easily address its determined objective in effective manner. It has
been also concluded that With assistance of the pitching process, entrepreneur can easily assess
the various operations and activities of business. The pitching procedure will help to organization
to adopt effective measures.

REFERENCES
Books and journals