The Contractual Process: A Comprehensive Analysis

The provided assignment is an in-depth examination of the contractual process. It starts with the contracting services stage, where parties develop and review agreements. This is followed by the negotiation stage, which requires transparency and trust between parties to simplify the process and create a strong foundation for a long-term relationship. The final stage is contract review, where the negotiator reviews the process to ensure the contract keeps up with amendments and that both parties are aware of the terms and conditions.

Pitching and Negotiation
Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
LO1..................................................................................................................................................1
P1 Determine what is a negotiation, why it occurs and who are the key stakeholders during a
negotiation process......................................................................................................................1
P2 Evaluate the key steps and information required for negotiating and generating deals........3
LO2..................................................................................................................................................4
P3 Explain the RFP process and the relevant types of documentation required, including a
formal response...........................................................................................................................4
P4 Explain the contractual process and how relevant documentation is managed and
monitored....................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Business organization and different corporations have to negotiate in wide range areas f
organizational conflicts. In the same way Pitching and negotiation itself refers to that process for
the two business parties who come up into an agreeable conclusion that also provide a solutions
to the problem as well. Therefore, the report main aim is to develop or describe the importance
of negotiation and pitching skills in an organization. The chosen firm for task 1 is Blue Footprint
Ltd which is a small software development company in UK and provide IT support to all small
and medium sized organization. Thus, report will describe the meaning of negotiation and its
importance with the key stakeholders at the time of negotiation process. Further, study will
evaluate the key steps and information that is required for negotiating and generating deals.
Then, report will explain RFP process and some relevant types of documentation that includes
formal response. It also explain contractual process and how relevant documentation is managed
and monitored.
In next part, report is based upon the case scenario in which a major bank submitted a
RFP to run a coffee shop name Cuisine Coffee. Therefore, report will develop an appropriate
pitch by applying key principles that helps to achieve a sustainable competitive edge. Further, it
also assessing the outcomes as well and then determine how organisations fulfil their obligation
from a pitch by identifying potential issues that can occur.
MAIN BODY
LO1
P1 Determine what is a negotiation, why it occurs and who are the key stakeholders during a
negotiation process.
Negotiation means the way to resolve disputes. In the business context, it is the method
by which the people settle differences or it is a process by which compromise and agreement is
reached by avoiding many arguments and some disputes as well. Apart from this, for the success
of Negotiation process, the individual of the quoted firm should posses the skills of negotiation
and they also helps in identifying some of the business opportunities that can be emerge from the
business deals under it. Therefore, the key negotiators always help in smoothening the overall
process (Lewicki and et.al., 2018).
It has been further analysed that negotiation is quite important In business long term
success and in the business, negotiation skills are quite important in both informal as well as da
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to day interaction as well. Such as negotiating condition of sale, lease, service delivery and many
other legal contracts as well. It has been realized that a good negotiation always contributes
significantly in business success such that it may help to build better relationships, delivering
lasting and best quality solutions, rather than poor short term solutions which do not satisfy both
parties. Further, it also help to avoid future problem and some conflicts as well. Therefore, a
good negotiation always leaves each party satisfied and also convince each to do business with
each other again, this helps to save relationship in business (Pruitt and Carnevale, 2019).
Negotiation generally occurs in business in order to minimize the risk. Such that risk
profiles are not considered until the risk evident itself which is an accurate issue. In this situation,
to minimize the risk process and policies of Blue Footprint Ltd can be renegotiated. Further, at
the time of accountancy and legal advisor also, negotiationBazerman, M. H. and et.al., 2018
occurs because it helps or offers practical approach in order to resolve show some stoppers by
using artful negotiation (Bazerman and et.al., 2018). Therefore, it has been analysed that it is
generally occur in order to resolve the issues that affect the business relationship. In addition to
this, it is quite necessary for a business to avoid some conflicts and find alternatives that suits all,
at that time generally negotiation occur to solve issues and it contributed too much for the
success of a business. Therefore, it is quite necessary for every business to have an individual
who posses good negotiation skills because it has been realized that a good negotiation means to
leave each party satisfied and willing to do a business with each other in future as well.
For the negotiation process, there are different stakeholders who are affected from this
such that :
Board of Directors: they are one of the major part of a company because they have
complete power and control, thus the top management negotiate the employees and manager of
the firm and also motivate by power as well (Pruitt, 2018). Further, they also may control the
significant budget which they gain through potentially quite political negotiation and at the
expenses of other directors as well. Moreover, they are also solve the conflicts between every
stakeholders of the company in order to run the business smoothly.
Employees: they are also negotiate with suppliers and customers in an effective way.
Even the manager or board of directors also negotiate the employees by offering them high pay
and incentives in order to raise their working performance. Further, employees are also negotiate
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with their team leaders and manager and at that time, they can easily adjust with the procedures
accordingly.
Customers: For every business, it is quite necessary for them to be happy their
customers and that is why they should avoid the negotiating ton price alone and manager or
employees should keep the negotiating going as far as possible. This will help to make better
relationship with them and leads to creates positive outcome as well (Thomas, 2019).
P2 Evaluate the key steps and information required for negotiating and generating deals.
There are so many powerful negotiation tactics that a negotiator need to identify in the
negotiation process in order to achieve maximum output for the company. But on the other side,
it is quite necessary for the business to have two parties for the negotiation process and the key
steps for negotiation and generating deals are as mentioned below:
Preparation and planning: It is the first step for a negotiation process in the quotes
firm. In this, the company needs to learn as much as one can about the problem and understand
the issue that is involved in it. Then in this stage, leverage evaluation is necessary, it is so
because there may be number of things that one can do to improve one's leverage of the other
side (Ting-Toomey, 2018). Then clearly set the objectives that helps to make negotiation process
successful. Therefore, the objectives needs to be describe in advance that helps to identify the
priorities and the arguments as well as justification should also be ready.
Defining the ground rules: In the second stage, once the planning and strategies are
developed, the one party has to begin with defining ground rules and procedures. In the stage,
both the parties will try and figure out what price should be starting point for a negotiation. Even
the demand and expectation should be disclosed. Therefore these rules will help to proceed the
negotiation process in further level.
Clarification and Opening: it is the next stage, where two side come face to face and
each party tries to make an impression on the other side and also influence their thinking as well
at the first opportunity. Therefore, this shows that there is a need of this phase or stage because it
sets the tone for the negotiation to a large extent that involves both negotiating parties to present
their own case in front of each other. Even in this stage, rules have been established and even the
discussion needs to take place (Hjertonsson and et.al., 2019).
Bargaining and problem solving: Fourth stage is bargaining phase which involves
coming closer to the objectives which a party intended to achieve at the time of starting
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negotiation. In this stage, the basic strategy is applied i.e. to convince each other of the
appropriateness of the parties demand and then persuading the other party in order to confess to
such demand. Therefore, one party needs to be logical in one's approach and even clearly framed
out the planned agreements as well.
Therefore, in this stage, the essence of the negotiation process is the actual give and take
in trying to hash out an agreement at a proper bargain. Moreover, the concession will
undoubtedly need to be made by both parties.
Closure and implementation: It is the final step of a negotiation process, in which the
closing phase of a negotiation represents the opportunities to capitalize on all of the work done in
the earlier phases. Even, the research has been done in the preparation phase mostly and it is also
combined with all the information that has been gained and which is useful In the closing phase.
Therefore, it is also involves the sealing of many agreement in which both the parties are
formalize the agreement In written agreement. Further, reviewing the negotiation process is also
an important process that helps to achieve the better outcome. But on the other side, the manager
of a quoted firm should take time to review each element and also find out those things which
went well and which needs to be improved.
LO2
P3 Explain the RFP process and the relevant types of documentation required, including a formal
response
Request for Proposal is a document that request proposal, often made through a bidding
process through an agency or company interested in a procurement of service, valuable assets in
order to submit the business proposals. This statement is submitted early in the procurement
cycle (Andrea, 2015). In addition to this, this is basically used where the request requires the
technical expertise and specialized capabilities and on the other side, the proposal also require
research as well as development in order to create whatever is being requested. Basically, the
request for proposal informs the suppliers that a firm is looking to procure and also encourages
them for their bets efforts as well. Further, the process also require the company to specify, the
purpose of purchase such that if the requirement analysis are prepared properly, then it can be
proceed for further into a request documents.
RFP also allow for wide distribution and response and even make sure that the suppliers
also respond factually in order to identify the requirements. In every company, RFP is generally
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includes the background the background on the issuing organization and its lines of a business
and a set of specification which further describe the sought after solutions. There are many
reasons of serving RFP and an organization is also benefited from the multiple bidders and
perspective when looking for integrated solutions (Arruñada, 2015). Further, request for Proposal
is that tool that is used to identify the candidate of the projects and further, it also includes the
instruction for the respondents in order to submit the proposal and this will further evaluate on
the basis of some specific criteria.
There are variety of documents which are required for the RFP process such that basic
corporate information and history, financial information, capabilities to handle technical
problems. Hence, it may includes a Statement of work and Request for quotation with different
terms and agreements. It has been further evaluated that request for proposal may be raised to
fulfil an operational requirement after which the authority will also issue a detailed technical
specification against their tenders. Thus, it shows that it is the part of sales process and also
known as enterprise sales.
In addition to this, some entities, such as government agencies are required to issue
request for Proposal in order to provide a full and open competition and in the same way, an
organization Is also release the proposal in order to boost the competition to drive down the cost
of a solution and the proposal only accepted on the basis of being one of the most responsive to
an RFP specification which may not always be a lowest price bid (Asante, 2017). Further, the
skills with which the customers create an RFP can also dictate the quality of a bidder's response
and thus the success or a failure of the resulting IT solution for the firm. Even for RFP, a CV and
a resume are some relevant documentation which are required for RFP process. But for preparing
a RFP, it includes the guidance to a bidders on how to prepare a proposal so that the correct
format is designed that helps to meet the need of a firm as well.
As the process Is basically start with draft RFP, in which the bidders review the draft and
also submit the suggestion for the improvement. Then the organization also issue an FRP that
may also invite prospective bidder to a pre-bid conference so that they can easily ask the
question about the documents and then the final stage comes in which reflective feedback is
received during the draft stage. Moreover. In many organization, it become more collaborative in
development of RFP's it is so because major public entities are making major technology
purchase. RFP issuing the group ask for specific use cases rather than providing a list of many
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features that also make sure that they have opportunities to includes demonstration and meeting,
as a part to make sure that they have a strong understanding of all competing products before
making a purchase.
P4 Explain the contractual process and how relevant documentation is managed and monitored.
Contract includes many written agreement, binding letters of intent and memoranda f
understanding, the provision of which may be binding when signed by the person. The process
consist of five stages such as:
Selecting a contract: it is the first stage in which An agreement between two or more
parties which creates the obligation that are further recognize by the law. Even the contracting
agencies can be private, government agencies and some non- profit organization. Further sponsor
chooses the agreement type that negating the opportunities in order to choose the agreement type
(Kramer and Grossman, 2017). When the contract is finalize then the goal of a document should
be set that makes sure that business is financially protected. A contract is also ensure that even if
a business relationship is strong then each side is going to obtain exactly whatever is expressed
in the contract.
Collecting necessary information: It is the next stage in which all the essential
information are collected and it is important not only to engage in any work without formal or
written agreement. Thus, both parties need to manage the documents for completing the
contracting package and this documents are fully signed proposal routing sheet, budget,
statement or scope of work, work version of the contract with some relevant attachments and
some additional supporting documents as well.
Choosing a Negotiator: It is the third stage where there is a need to choose a negotiator.
Contracting services are mainly responsible for developing and reviewing the agreements
between parties. There is no matter how much research, planning and preparation goes into first
draft of a contract, negotiation always follows. Therefore, negotiation should also start with the
transparency and trust (Boyer, 2015). Further, anticipating and researching on other party's need
will help to simplifies the process and also creates a strong foundation for a long term
relationship. Though it has been analysed that emails and offline documents may be confusing
and also cause costly mistakes and contract will result in quicker negotiation also provides the
visibility for both sides as well.
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The contract review process: It is the last stage of contractual process in which the
contract finally gets approval before finalizing the contract and then it executed. After that, the
negotiator has to review the process by make sure that the contract keep up with the amendments
. As it is important to stay ahead of the changes and make sure that both parties are fully aware
of the terms and condition of the contract so that the execution of an agreement make it
successful (Macaulay, 2015).
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REFERENCES
Books and Journals
Andrea, J., 2015, June. An agile request for proposal (RFP) process. In Proceedings of the Agile
Development Conference, 2015. ADC 2003 (pp. 152-161). IEEE.
Arruñada, B., 2015. The role of institutions in the contractual process.
Asante, S. K., 2017. Stability of Contractual Relations in the Transnational Investment
Process. International & Comparative Law Quarterly.28(3). pp.401-423.
Bazerman, M. H. and et.al., 2018. Negotiation. Annual review of psychology.51(1). pp.279-314.
Boyer, N. R., 2015. The learning contract process: Scaffolds for building social, self-directed
learning. Quarterly Review of Distance Education. 4(4). p.369.
Hjertonsson, O. H. and et.al., 2019. System and method for automating RFP process and
matching RFP requests to relevant vendors. U.S. Patent Application 12/200,650.
Kramer, R. M. and Grossman, B., 2017. Contracting for social services: Process management
and resource dependencies. Social Service Review.61(1). pp.32-55.
Lewicki, R. J. and et.al., 2018. Essentials of negotiation. Boston, MA: McGraw-Hill/Irwin.
Macaulay, S., 2015. An empirical view of contract. Wis. L. Rev., p.465.
Pruitt, D. G. and Carnevale, P. J., 2019. Negotiation in social conflict. Thomson Brooks/Cole
Publishing Co.
Pruitt, D. G., 2018. Negotiation behavior. Academic Press.
Thomas, K. W., 2019. Conflict and negotiation processes in organizations.
Ting-Toomey, S., 2018. A face negotiation theory. Theory and intercultural communication,
pp.47-92.
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