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Pitching and Negotiation Skills Key Steps

   

Added on  2020-10-23

15 Pages4584 Words172 Views
Pitching and Negotiation skills

Table of ContentsINTRODUCTION...........................................................................................................................1L 01..................................................................................................................................................1P.1 Determining about negotiation and why it occurs and the key stakeholders during anegotiation process......................................................................................................................1P.2 Key steps and information required for Negotiations and generating deal..........................2L 02..................................................................................................................................................3P.3 Explain the RFP process and the relevant types of document required................................3P4 Explaining the contractual process and how they relevant documentation is managed andmonitored....................................................................................................................................4LO 3.................................................................................................................................................5P5 Developing a pitching applying key principles that achieve a sustainable competitive edge......................................................................................................................................................5LO 4.................................................................................................................................................7P6 Assessing the potential outcomes of a pitch, ........................................................................7P7 Determining organization fulfill their obligations from pitch, identifying potential issuesthat procure can occur.................................................................................................................8CONCLUSION ..............................................................................................................................9REFERENCES..............................................................................................................................10.......................................................................................................................................................11

INTRODUCTIONNegotiation is a process of settling down the conflicts and disagreements that arisesamong two people or two parties. It is the process where both the parties emotions are beingtaken care of and decisions are taken accordingly. In this present report Razzamataz has beenchosen for assessment. This organisation was established in the year 2007 as children's theatreand dance company. This present assignment will focus on Key steps and information requiredfor Negotiation. In addition to this, RFP process and the relevant types of document requiredwill be described in detail. On the other hand, potential outcomes of a pitch will be discussed inbrief. Furthermore, the contractual process and how this documentation is managed andmonitored will be covered. L 01P.1 Determining about negotiation and why it occurs and the key stakeholders during a negotiation process.Negotiation: It is a method where differences are being settled down among people in theorganisation. It is a process of decision making where all the differences are being settled thatarises among the union and the management of the organisation (Abels, Howarth and Smith,2018). Whenever negotiations are made it is ensured that they are made in such a way that itgives benefits to the company in some or the other way. Proper strategies and planning are madefor the same which can guide in ultimate process of negotiation. Why negotiation occursNegotiation occurs in all situations during the business operations along with this, peoplenegotiate in everyday life outside their workplace and in every kind of situation (Cooke andZaby, 2015). The state or position of negotiation arises when there are more possible outcomethan one. Two parties who are dealing with each other and they have a common interest, but theyare not sure abut the results than negotiation occurs. In context to Razzamataz, situation ofnegotiation occurs when employees faces difference in thoughts and does not be able to come upwith a solution (Cooke and Zaby, 2015). The best outcome is chosen after determining all theaspects of the situation and its solutions. Stakeholders during a negotiation process: It is a process which affects the entire organisationalong with all the stakeholders. Whenever any situation arises in company where disagreements1

occurs that is the time when stakeholders gets involved within the process. It is due to theirorganisational interest that has been due to the investments they have made or might be some ofthem are working for the company (Dinnar and Susskind, 2018). So it is quite often thatstakeholder get involved and expect to get a decision where they get benefits from the entirenegotiation process. P.2 Key steps and information required for Negotiations and generating dealNegotiation process involves everyone who are present during the process is beingcarried out. There are majorly 5 steps of the negotiation process which are described in briefbelowPreparation and planning: Before starting the process entire knowledge regarding its historythe conflict or disagreement has arisen (Elenurm, 2016). Along with this, planning should bemade regarding the place where the meeting will take place and when the process will be carried.A limited time should be set for meeting and carrying out the process and that should be verylimited. It will be helpful in continuing the disagreements.Discussion: At this stage both the parties put forward their views, knowledge and theirunderstanding regarding the situation. Members will do so because both can know what they arethinking regarding the situation due to which disagreement are arising. It is important to preparenotes regarding the discussion that has occurred. It will help in knowing about thinking andunderstanding of both the parties (Fletcher, 2018). The most important thing to do at this stage isto listen and carrying the process with patience. And both sides must be given equal chances ofpresenting and saying their things. Clarifying goals: After doing the entire discussion and listening to both the partiesunderstanding patience fully. The next step is to understand the goals of both the sides and theirevery view should be noted so that the major reason behind the conflict can be taken out(Gbadegeshin, 2018). Now these goals and interest of people should be listed on the basis of thepriority. This will help in knowing things in detail and this step will reduce the misunderstandinglevel. Thus, clarifying goals and needs of both the parties will help in reaching to anadvantageous outcome. Negotiation towards a win- win outcome: At this stage such solution will be tried to be foundout where both the parties feel satisfied and get a sense of positivity from the outcomes(Gianiodis, Markman and Espina, 2017). Such solution should be taken out where both the2

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