This presentation explores the importance of pitching and negotiation skills in business. It discusses key principles for developing an effective pitch, the classification of potential outcomes, and how organizations fulfill their obligations. The case study of Walmart is used to provide insights and examples.
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Pitching And Negotiation Skills
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Table of Content Introduction Appropriate pitch by using key principles Classification of potential outcomes of a pitch Determination of how organisation fulfil their obligation from a pitch and analysing of issues that occur at company Conclusion References
Introduction Pitching is defined as a effective procedure that shows ideas or plans of business to various people such as suppliers, investors, shareholders, customers and other stakeholders as well. In addition to this, it is determine that such method develops a positive behaviour & perception of people towards the particular goods as well as service offered by an organisation(Abels, Howarth and Smith, 2018). Negotiation is basically a process that is adopt by different business representatives in order to gain understanding about variations between different parties which finally get agrees with the mutual decision. For gaining knowledge about the concept of pitching and negotiation skills, Walmart is taken into consideration.
Appropriate pitch by using key principles It is determine that development of proper pitch is man motive of an organisation. In order to do this, companies follow specific pitch process that involves key principles of attaining competitive advantage at marketplace. In addition to this, following of all such process aid an entity to sustain and to fight with their rivals in an effective manner. The pitch procedure is given below: Objective Development Centralisation of Idea Presentation Structure Factual Display Feedbacks
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Classification of potential outcomes of a pitch It is analysed that outcome of a pitch is seen in different forms in a proper manner. IN relation to Walmart, the outcome of its pitch is describe below: No response Rejection Acceptance
Determination of how organisation fulfil their obligation from a pitch and analysing of issues that occur at company It is determine that there are different ways by which Walmart can easily satisfied the respective obligation related with the pitch. It is said that obligation is easily fulfilled by post pitching. It is essential for a person to continuous follow up an remain in touch with the associated persons so that chances of occurrence of conflicts in future is declined.
Cont.… Negative brand image of a company is undertaken as major problem and it is analysed that if the reputation of an entity is not good then there is a chance that investors is not getting attracted towards brand. In addition to this, it is also not able to easily convince staff members to work effectively because of negative image at marketplace. Another problem related with the process of pitching is that there is possibility that staff members is not able to attain their desired goals due to the changes take place if them by the passage of time. It is significant for companies to ensure that needs of its employee is satisfied as it help them to implement all the activities appropriately and to attain objectives within given time period
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Conclusion From the above study, it has been concluded that both negotiation and pitching process plays vital role in an organisation as it assist them to crack effective deals that is beneficial for company in terms of profits earned. It is analysed that negotiation with all stakeholders aid organisation in saving down their level of expenses that leads to increase in profitability of company in an appropriate manner. In addition to this, it is determine that proper knowledge of contractual and documentation process, RFP process assist an organisation to implement all the task associated with negotiation in a right and proper manner as well.
References Abels, E. G., Howarth, L.C. and Smith, L.C., 2018. Transforming library and information science education by design. In Re-envisioning the MLS: Perspectives on the future of library and information science education. Emerald Publishing Limited. Blount, J., 2020. INKED: The Ultimate Guide to Powerful Closing and Sales Negotiation Tactics that Unlock YES and Seal the Deal. John Wiley & Sons. Campbell, B., 2019. The Innovator’s Discussion: The Conversational Skills of Entrepreneurial Teams. Routledge. Copper-Ind, C., 2019. How To Negotiate. Pan Macmillan. Dinnar, S. and Susskind, L., 2018. Entrepreneurial negotiation: Understanding and managing the relationships that determine your entrepreneurial success. Springer.