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Pitching & Negotiation Skills

   

Added on  2020-06-03

12 Pages4499 Words225 Views
Pitching and NegotiationSkills

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Determining negotiation and reason for its occurrence along with key stakeholders...........1P2 Evaluate key steps and information required for negotiating and generating deals..............2TASK 2............................................................................................................................................3P3 Explain the RFP process and the relevant types of documentation required.........................3P4 Explanation of contractual process and relevance of documentation....................................4TASK 3............................................................................................................................................5P5 Development of a pitch by applying key principles..............................................................5TASK 4............................................................................................................................................7P6 Assessment of potential outcome for a pitch.........................................................................7P7 Determination of obligations from a pitch and identification of occurrence of potentialissues...........................................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONPitching means influence of an individual to another one in order to maintaineffectiveness in working and development (Anable and et. al 2017). Negotiation signifiesbargaining power of an individual which lead to take place between two person. Pitching andnegotiation skills usually present and evaluate in an individual whom have power to influencesomething new. This project is based on pitching and negotiation skills by considering theexample of Marks and Spencer whom have good command on market as well as theirdeliverables are appropriate in frame as well. For this aspect, evaluate the concept of negotiationalong with the information which required for negotiation process. It also depicts aboutdocuments which usually consider as important one for tenders and contract. An appropriatepitch needs to get frame so that sustainable competitive advantage could be manage andmaintain. Thus, appropriate pitch and negotiation outcome have to get manage. TASK 1P1 Determining negotiation and reason for its occurrence along with key stakeholdersNegotiation is like a procedure under which people settled down their issues ordifferences. In other words, when an individual compromises between two or more parties toavoid unnecessary clashes and disputes (Baber and Ojala, 2017). This sort of method is basicallyutilized by people at the time of buying a product. Best results are basically achieved by a personif he comprehend purpose to gain an effective outcome. Rather than this, there are some factorswhich need to be considered by them, such as mutual advantages, fairness of principles etc. sothat relation will be maintained effectively and efficiently. Henceforth, there are certain reasons because of which negotiation happen are mentionedas beneath:Avoiding conflicts: In procedures of business, many circumstances will be face bymanager in which disputes will happen. It will develop at the time of assigning task orexercise to staff members. Therefore, it is necessary for superior of M & S to settle theseclashes appropriately. For above stated aim, employer needs to understand point of viewof each workers; thus, they will take a corrective action. If it is not done properly then,working performance of employees will get affected in an adverse manner. Creating win win situation: Each individual is having their own opinion, as somepersons think that it is all about beat the other party. But, this is entirely wrong as in best1

and effective negotiation procedure negotiators need to develop a condition of win win.Therefore, at the end each party will acquire advantage. In this process, communicatorhas to deal with situation effectively so that he will make happy to the both parties. Thisis main reason why it is considered as much effective method.Building up of respect: In an organisation, every staff member want respect from theirsuperiors (Belinsky and Gogan, 2016). This will aid to improve their workingperformance; as a result, profitability and productivity of M & S will get enhanced. Ifmanager is using negotiation procedure at workplace then this helps to develop longrelationship amongst employer and employee. Along with, goodwill and market share ofcompany will get improved.Different mindset: Clashes arise amongst two parties and they both will have distinctiveset of mind. According to the scenario, manager and his PA has meeting which wasrelated to pay scale. It enhanced by almost 6% through mutual agreement of both partiesand it has been analysed that they both has different mind set.Henceforth, in procedure of negotiation eminent part is played by both management aswell as staff members because of many reasons, such as clashes, enhancement in salary, task oractivity allotment and so many. These circumstances will develop requirement of usingnegotiation procedures in firm; thus, entire issues will resolved effectually.P2 Evaluate key steps and information required for negotiating and generating dealsIt is must for negotiator to know about needs and wants of parties so that appropriatesteps will be taken. In context of M & S, there was an issues regarding salary and this isconsidered as main element by staff members for negotiation. It has been examined that, it ismost effective technique which is utilized by each and every kind of company. Additionally,there are certain which is utilized by superiors under negotiation process. These steps are statedas below:Primarily, it is fundamental for to identify that place from where disputes arose (Bodilyand et. al., 2017). Along with this, it is needed to identified the least point under whichdeal will be accept by both parties. Therefore, argument amongst them will be resolved.Each party has some goal which has to be taken into under consideration by negotiator.Additionally, motivation needs to be determine which will be used by communicator foranother party.2

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