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Pitching and negotiation skills INTRODUCTION 1 LO11 P1. Negotiation Process

   

Added on  2020-12-09

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Pitching and negotiation skills
Pitching and negotiation skills INTRODUCTION 1 LO11 P1. Negotiation Process_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1. Negotiation.......................................................................................................................1M1. Rationale for the negotiation process..............................................................................2D1. Evaluating the Negotiation Process.................................................................................3LO 2.................................................................................................................................................4M2 RFP process and elements of breaching the terms of agreement ....................................4D2 Competitive tendering .....................................................................................................4LO3..................................................................................................................................................4M3 Examining pitch process in Marks and Spencer and evaluating ways to maximise it....4D3 Developing dynamic and creative pitch...........................................................................6LO4 .................................................................................................................................................7M4 Assess the potential outcomes of a pitch ........................................................................7D4 Determines how organisations fulfil their obligations from a pitch identifying potentialissues that can occur ..............................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONThe skills of pitching and negotiation plays a crucial role in the business where it dulyassists the associated stakeholders to take vital business related decisions. It is with a primeconcern of involving the people and getting them agreed on a common goal. This tactic oftenresults in a clear determination of everyone’s interest to together attain the set organisationalobjectives. This report will hereby refer analysing the negotiation as well as pitching abilities ofthe managers in Marks and Spencer (Goldberg and et.al., 2014). This will also demonstrate a keyrole of the stakeholders involving the suppliers, shareholders and customer, etc. Also, it hasdescribed the procedural approach towards negotiating the business in terms of satisfying thestakeholder’s interest by together attaining the undertaken aims of the organisation. Marks andSpencer (M&S) is a foremost retail store in UK which mainly deals in clothing’s and apparels,etc. It is a renowned establishment, operating in the retail industrial sector of UK by successfullycombating an intense state of competition in the marketplace. LO1P1. NegotiationNegotiation is basically referred to be a set of 2 words that has been originated from 2Latin terms namely, 'neg' which means no and another 'ostia' that refers to leisure. It is basicallya process that involves discussion among 2 or more parties to resolve a concerning agendaamong them. It could be however any organisation related decision that is required to be takenup by the parties (Mazei and et.al., 2015). However, it could be also used to resolve any of theirpersonal conflicts where this process is mainly intended to find out a common solution thatmeets the interest of both involved parties. It is also referred to be one of the most effectiveprocedure that is being implemented by M&S to assist in the process of decision making bytogether regarding the interest of all its concerned stakeholders.It however necessitates the managers to follow a procedural approach by concentrating oneach and every aspect of the decision. Although, negotiating with the stakeholders is referred tobe the most difficult consideration where all key agendas are need to be discoursed in the mostidealistic way. This requires a transparent approach towards taking decisions and respecting theviewpoint of all involved parties (Horton, 2016). Negotiation is entirely focussed on resolvingthe differences among the involved set of parties to meet out the varying interest of both. A vital1
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