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Pitching and Negotiation Skills INTRODUCTION

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Added on  2020-10-05

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10 CONCLUSION 11 REFERENCES 12 INTRODUCTION Negotiation refers to the process in which two parties keeping their view point which are different in term of their need in order convince one another over their need for wining a deal. Manager:- The negotiation process consists of two steps that are responsible for ensuring that employees are provided with the best possible outcome:- Negotiation is the process in which parties are responsible for resolving the issue of mutual acceptance.

Pitching and Negotiation Skills INTRODUCTION

   Added on 2020-10-05

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Pitching andNegotiation Skills
Pitching and Negotiation Skills INTRODUCTION_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Negotiation and key stakeholders during negation process.............................................1P2. Key steps and information required for negotiating and generating deals.......................3TASK 2............................................................................................................................................5P3. RFP process and relevant type of documentation required..............................................5P4. Contractual process and ways to manage relevant information.......................................6TASK 3............................................................................................................................................8P5. Develop an appropriate pitch applying key principle for achieving competitive edge....8TASK 4............................................................................................................................................9P6. Assessment of potential outcome of pitch........................................................................9P7. Ways in which organisation can fulfil their post-pitch obligations, highlighting potentialissues.....................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONNegotiation refers to the process in which two parties keeping their view point which aredifferent in term of their need in order convince one another over their need for wining a deal.Main aim of both the parties is to decide solution by mutual concern that benefit parties whichare involve in negotiation process (Campbell, 2017). Mark & Spencer is a chain of supermarketthat operates its business throughout the world by offering variety of product categories rangingfrom food & grocery to clothing items. Present report is about an employee of M&S whichdemanded for its salary hike and negotiation that it had with department head as well as HR unit.This report includes a description about negotiation and key stakeholders involve alongwith its process. It also includes explanation of RFP process along with documentation requiresfor this. It further includes explanation of contractual process and method of managingdocumentation. Apart from this it includes pitching and key principle to achieve competitiveadvantage along with its potential outcome and ways to fulfil post obligations. TASK 1P1. Negotiation and key stakeholders during negation processNegotiation refers to the process in which two or more parties with different goals andneeds discuss their issues and find up a solution with mutual acceptance. In this process, eachparty try to persuade one another with an aim to make them agree over his or her point of view.Main aim of this is to compromise over the agreement before avoiding the dispute as well asagreement between parties (Faling, Garard and et. al., 2017). Being a department manager,negotiation is a very essential skill which support a person to deal with both formal as well asinformal transactions which are required in negotiation. Mark & Spencer has to deal with severalissues among clients as well as employees, so in order to resolve them negotiation skills plays amajor role. Following are benefit Mark & Spencer get by practicing negotiation skills:-M&S will be able to retain its employees for longer period of time by keeping themhappy as it happened in case of PA salary increment. It will be able to maintain better relationship with its customers by providing benefit toboth the parties through negotiating deals. 1
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It also support in avoiding future conflicts among the parties by giving quality solutionover mutual acceptance. Reasons for negotiation occurrence:-Negotiation is a most common approach which usually occurs with an aim to manage thedispute among parties and make up a better decision that provide mutual benefit. Another reasonbehind its occurrence is that it is problem solving process which requires participants to identifyissue in which both the parties are differ (Ferrier and Batts, 2016). Then make them realiseabout the need and interest of both so that general possible settlement could be made. In contextof M&S, main reason behind occurrence of negotiation was that PA demanded for 10% salaryhike but as per the rule it is 5% per employee. So in order to overcome this issue, negotiationprocess was performed between manager and PA that 6% hike will be provided which graduallyrise up to 2-4% as per the performance of new responsibilities. Key stakeholder in negotiation process:-Negotiation is performed by individuals who have better knowledge as well as skills ofnegotiation in order to reach over a solution which provide appropriate outcome or mostprofitable deal. In present case of Mark & Spencer, following stakeholders are involved duringnegotiation process:Departmental store head:- They are responsible for formulating action plan and ensuringthat the activities are performed in right direction. Main aim of involving store head inthis negotiation process is that they delegate authority to employees working in store sotheir acceptance is essential within this process (otikasthira, Bhutibhunthu andChuaychoo, 2016). Human resource department:- This unit is responsible for the management of employeesand their issues at workplace. HR department is involved in this negotiation processbecause they are responsible for formulating the policies regarding salary andcompensatory benefit of employees. Manager:- The manager is responsible for managing and guiding all the activities thatare performed within store and ensuring that the issues of its employees must becommunicated to the higher management. 2
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