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(PDF) Pitching and Negotiation Skills

   

Added on  2020-11-12

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Pitching and negotiation skills

Table of ContentsINTRODUCTION...........................................................................................................................1Main body...................................................................................................................................1LO1.............................................................................................................................................1P1 Negotiation and its occurrence with key stakeholders of its commence...............................1P2 Key steps of negotiation and information for generation of deals.........................................2M1 rationale on the steps and information involved in negotiation process...............................2D1 Steps of negotiation process and present valid solution for dealing the issues.....................3LO2.............................................................................................................................................3P3 Explain RFP process and relevant type of documents required............................................3P4 Explain contractual process and how relevant data are been managed and monitored.........4M2 Application of RFP process at M & S and consequence of breaching the agreement.........5D2 evaluate competitive tendering and contract process and give recommendation tominimise the risk.........................................................................................................................6LO3.............................................................................................................................................6P5 Develop a pitch to applying key principles to achieve a better competitive advantage........6M3 Examination of pitching process in M & S and getting idea about maximum chances ofsuccess.........................................................................................................................................7D3 Developing of a pitch both dynamic and creative pitch, concise and persuasive in nature tohave a good competitive advantage............................................................................................7LO4 ............................................................................................................................................8P6 Potential outcome of pitch.....................................................................................................8P7 Determine how organization fulfil its obligations from the pitch and discuss various issuesthat are been discussed? .............................................................................................................8M4 Recommendation for M & S for meeting their Post pitch obligation highlighting apotential issue..............................................................................................................................9D4 evaluate pitch and post pitch outcomes to determine potential issue and risk management......................................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONThe pitching and negotiation process is very important in an organisation. The pitchingrefers to tone of voice and communication manner while negotiation is a method of accepting ordenial of opinions expressed by others. A good pitching and negotiation process helps inmaintaining communication standards and supports better rectification of conflicts and issuesthat occurs at a work place (Yeni, and ImroatusSolikhah, 2017). For this report, Marks andSpencer (M&S) is taken as organisation of context. It is a UK based retail firm. The report willlay emphasis on negotiation, its occurrence and key stack holder factors for better handling ofbusiness operations. A rationale on negotiation process and its various steps have been discussedalong with the information. In addition, various solution are been used to deal a risk innegotiation process. Other than this, RFP process has been used with details of documentsrequired to handle it and consequence of breaching an agreement is been presented with pitchingprocess of M & S to make it successful. Apart from this, post pitch obligations and riskmanagement strategy is been presented (Waterhouse, Keast and Koppenjan, 2016). Main bodyLO1P1 Negotiation and its occurrence with key stakeholders of its commence.A negotiation is effective process that is been practised in an organisation like M&S toeffectively carry out communication process that will help in better handling of conflicts anddifferences that are been followed to rectify a conflict or differences that are been occurred atstructural and management level in an organisation (Shaw, 2014). The negotiation will help inremoval of differences that can affect productivity and revenue generation of cited retail firm.This will help in getting the suitable outcome to conflict and help the firm to gain better fairnessand equality in an enterprise. A negotiation process may occur due to various reasons likedisagreement to a rule or policy personal differences, variableness in position etc.The stakeholders play a very deep and important role in handling negotiation process.They form a very important part in functionality of an organisation; firm has to look after thebetter management of conflicts and negotiation process that will impact the growth anddevelopment of a business operation. The retail organisation has to see through bettermanagement of its cause so that relationships with stakeholders are been maintained to executefunctions of an enterprise in a better way (Stevens And et,al., 2016).

P2 Key steps of negotiation and information for generation of dealsVarious steps have been taken under consideration to carry out a negotiation process andgeneration of deals such as:Preparation and planning: it is first step of negotiation process, where both parties'comer together to gain a suitable information necessary for it. The information mayinclude a plan, background of conflict or cause of difference and other documents that areassociated with cause of discussion (Yeni, and ImroatusSolikhah, 2017).Defining the rules to exchange information:Certain rules are been set that are beenrequired to be followed in a negotiation process. The information gathered in above stepwould be delivered in this method, for assessment process. It involves better handling oftrust level, competency likeability and engaging the interest of the employees orconcerning parties in a negotiation. Bargaining: In this interaction process, problems are discussed. Sharing of informationhelps in building a good relationship and proceeds to better output in a conflict. This ismostly done by face-to-face communications that helps in better value creation and havea good solution to a problem.Conclusion: This is the process where both parties will reach to a conclusion oragreement that is acceptable to them (Shaw, 2014). The common interests have beentaken in thought process and then a negotiation plan has been drawn to ensure bettercommitment. If one party is not willing to reach on a point of negotiation, agreement isnot been fulfilled.Execution: it is implementation of drawn agreement or conclusion that will help ingenerating opportunity of negotiation process. Beside this, it will help in prevention ofconflicts and carry out a good negotiation process in the future. M1 rationale on the steps and information involved in negotiation processVarious steps that have been followed in a firm for a negotiation process involvesoperations like collection of different information like plans, agreements and backgrounds ofprocess that has been followed by a business organisation. The effective assessment of differentoperation helps in better rise in mutual understanding and gaining of different operations thatwill look after the effective management of negotiation process at M & S (Saarni, 2015). A goodnegotiation will help in better rise in the utilization of the available resources and resources that

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