Communication Skills for Business Success

This assignment delves into the crucial role of communication skills in achieving business success. It examines different types of communication within a professional context, drawing upon academic sources to illustrate key concepts and strategies. The analysis covers topics such as interpersonal communication, negotiation, and pitching ideas effectively. By understanding these principles, individuals can enhance their ability to collaborate, persuade, and achieve their professional goals.

PITCHING
AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1. What is negotiation, why it occurs and who are the key stakeholders are during a
negotiation process......................................................................................................................1
P.2. Evaluate the key steps and information required for negotiating and generating deals......2
TASK 2............................................................................................................................................3
P.3. Explain the RFP process and the relevant types of documentation required.......................3
P.4. Explain the contractual process and how relevant documentation is managed and
monitored....................................................................................................................................4
TASK 3............................................................................................................................................6
P.5. Development an appropriate pitch applying key principles that achieve a sustainable
competitive edge.........................................................................................................................6
TASK 4 ...........................................................................................................................................7
P.6. Assess the potential outcomes of pitch................................................................................7
P.7. Determine how organisations fulfill their obligation from pitch, identifying potential
issues that can occur....................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
In this research, we would take a look at determine what is negotiation and who the key
stakeholder are during a negotiation process and evaluate the key steps and information required
for negotiating and generating deals within Mark & Spencer business. Furthermore, we will
discuss about to explain the RFP process and the relevant types of required documentation within
this process and explain the contractual process and how relevant documentation is managed and
monitored within Mark & Spencer corporation. We would look at an appropriate pitch applying
key principles that achieve a sustainable competitive edge within the company. Untimely, we
would discuss about to the potential outcomes of a pitch and determine how Mark & Spencer
corporation fulfil their obligation from a pitch, identifying potential issues that can occur within
the enterprise.
TASK 1
P.1. What is negotiation, why it occurs and who are the key stakeholders are during a negotiation
process
 Negotiation: Negotiation is a process in which differences are to be settled between two
parties(Horton, 2016). And It is the process in which both the parties reach to
compromise and agreement and with doing this they avoid arguments and disputes
between them.
 When two parties are not during their job properly and not performing as per the policies
of agreement between them so that it is being a major cause of negotiation between them.
And when they are giving extreme competition in the market so then negotiation must
occurs between them so that there several cause by which negotiation occurs.
 In the given case we have a case of Mark & Spencer company who is a British large retail
company and there is an issue occurs between the overall manager at the store and their
personal assistant who help manager for their daily operation of management activities so
that P. A. Requests to the managers for increase their salary at 10% for the year and this
is worth for her. Usually, many f big companies raise salary by 5% annually so for reason
there occurred a negotiation between store departmental manager and between their
personal assistant. The manager is decided to being implementation of a negotiation
process by which they would be able to prepare a reliable decision between them.
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 There are several of key stakeholder during a negotiation process, in the given case there
are stakeholder persons are the negotiator and Mark & Spencer store's departmental head,
human resource department professionals are also being there for have an appropriate
negotiation process and generate possibilities of better outcomes with the helps of
negotiation process(Stephenson, 2013). The main key stakeholders are those who present
at the point of negotiation process and make involvement in this process. Those persons
are also the key stakeholders of this process who are affected by decision of negotiation.
The main key stakeholder of negotiation are both parties who are having disputes
between themselves and the negotiator who play the major role in settling the disputes
between them.
P.2. Evaluate the key steps and information required for negotiating and generating deals
Followings are key steps of negotiation: Preparation: In this step of negotiation the person who is negotiator between two parties
should recognise the potential value begin to know about to their interest which are
developed by the facts base in the situation(Furnham, 2012). In these steps all preparation
must be cleared that negotiation is necessary for them or not and identify the goals and
interest of both parties in which they want to settle their disputes. In the given case, there
must collection of all required information and preparation of all the steps and needed
data for have a better negotiation between Mark & Spencer store manager and their
personal assistant dispute. Preparation is mos essential part to start a negotiation in better
way so that the company store manager and their P. A. Must prepare themselves and
gather all the required information which are required during negotiation process. Discussion: There must be a proper discussion between both the parties in the
negotiation process. In the given case there ought to be appropriate discussion about to all
the issues and disputes between them and it generates the best solution for both parties in
front of negotiator(.Contreras, 2013). A reliable discussion between Mark & Spencer
store manager and their personal assistant make their decision effective so that they need
to show all their difficulties regarding to their salaries and office working days then
presented person at the time of negotiation make their decision according to both parties
demands and find out the best suitable option of them as well
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 Clarification of goals: Both the parties' goal must be clear in front of all stakeholder of
the negotiation, there must be some person in front of the parties so that they could
understand the needs and goals of Mark & Spencer store manager and their personal
assistance and according to them make a reliable decision. There must be clarify the
goals and objectives of both parties to effective outcomes of negotiation process. Mark &
Spencer company's store manager and their personal assistant ought to present their
goals, objectives and issues by which they are facing disputes and try to clarify them in
efficient way. Agreement: It is necessary for each person in negotiation to keep their mind open while
making decision and make an acceptable solution between them so that if an agreement is
made between Mark & Spencer store manager and their P. A. It must be clear all the rules
and policies of the agreement in front of both parties. The agreement must be cleared and
satisfy both parties needs effectively(Rich, 2013). In the agreement P. A. salary
increment demand should be appropriate as giving by other companies to their employee.
This is worth for her to increase their salary by 10%. Store manager can raise their salary
by 5% on yearly basis. The agreement are made to satisfy both parties needs regarding
the salary and working hour at the outlet.
 Implementing a course of action: From the above discussion, there must be a clear
implementation of agreement which are made between them and according to agreement
it should be ensured by their stakeholders that implementation of their agreement policies
and rules ought to be in a proper and relevant manner.
TASK 2
P.3. Explain the RFP process and the relevant types of documentation required RFP process: A request for proposal is a process in which an organisation and company
may announce the funding available for a particular project within the company so that
they can bids for the project completion(Tse, 2013). This is outlines of biding process in
which provides the guideline how bid is prepared and formulate during the RFP process.
A request for personal for a particular program might needed to company to review their
bid plan to their succession in the future but they need to show capability of bid company
and they future offers in this plan of project. This is a document in which bid offers are
mentioned and plan and policies of their projects implementation also mentioned in the
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documents in terms of start their joint venture of new project in implementation in Mark
& Spencer company(Wiener, 2017). In Mark & Spencer firm they need to open up a
request for personal process to their new project funding and business expansion in the
future so that the company need to formulate their Request for personal process with
Morrison business to implementation of their new retail outlets projects in the UK
market. They request to several retail companies in the UK to project funding and help to
project implementation and succession as well. Moreover, with the help of this project
they would be able to start their new venture in retail industry and develop a new project
of firm. RPF process may increase the volume of their sales in the retail industry by
developing their new outlets and open up new distribution channel with Morrison
business so that their project funding and responsibilities are also distributed between
both the companies and with the help of these exercises they would be able to enhance
their business according to their proposal in the project.
 Documentation required:
 Presented a brief or overview of Mark & Spencer company and Morrison retail company
to prepare a request for proposal process to start their new project(Healy, 2011).
 Also, review the documentation which show the strength and weaknesses of the
company.
 Company previous 2 year annual financial report must be added in the documentation.
 There must be a comprehensive information regarding to the person who would handle
the future representative of the biding project.
 New policies, rule and regulation must be there in documentation to formulate request for
proposal project.
 There must be proper distribution of their profit share it should be mentioned in their
agreement project.
 In this agreement beach of the contract are mentioned and their losses distribution
percentage as well.
P.4. Explain the contractual process and how relevant documentation is managed and monitored Contractual process: There must be contractual process formulated in terms of make
their agreement more relevant towards the project implementation of request for proposal
process. In this agreement all the legal aspect of the contract must be cleared and satisfy
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the both companies needs according to their expectation from the project(Genovese,
2014). It should be mentioned in the contract between Mark & Spencer firm and
Morrison company that if the contract are broken by any of company in the contract then
they would have responsibilities to fulfill all the losses which are made by them through
beaching the contract. Mark & Spencer retail outlets need to develop their new outlets
and venture at several places in the major cities of the UK country so that they want to
enhance their business with the help of request for proposal process, company have
provided Biding system to Morrison supermarket firm to develop their joint project to
project expansion of Mark & Spencer company. They need to develop some contract in
which contract should obtain mutual promises and obligations between two parties
making the agreement. According to companies Act 2006, there are mentioned the
company low provision act and according to them they must set up their new project and
appropriate implementation of contractual procedure according to the norms of the
companies act 2006 within request for proposal biding system. Relevant documentation management: They are required to manage their all relevant
documents like company financial statements and balance sheet of two years must be
submitted in the agreement and both the companies comprehensive information regarding
to the project and various retail service department should be added in the contract
documentation to develop their all fields in which they want to develop their
strategy(Holden and Thompson, 2013). They should use updated technology of
computers data management software to manage and gather relevant information
regarding to their confidential reports and agreements norms.
 Recommendation for completing a successful tender with minimal risk: Both the
company need to start their joint project with the help to their financial contribution and
new thoughts in project to enhance their business more effectively. They must mention
about to all strategic changes and plan in the project and ensure that both the companies
are well known about to all terms of strategic project within the agreement between Mark
& Spencer and Morrison company.
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TASK 3
P.5. Development an appropriate pitch applying key principles that achieve a sustainable
competitive edge Pitch: This is a skill for companies to develop their new product and services in different
ways(Hodgson, 2011). Good pitching skill can develop the sense of new product and
services selection which assist the company to increase their sales and communication
channel in the market. Key principles: There are several key principles of pitching method which are as
following: Openness & Transparency: In this approach, pitching skill needed to be openness in the
mind while using the pitching skill to develop their new product and services in Mark &
Spencer company new projects(Williams, 2013). Pitching provides the broad knowledge
about to the expansion and choice of new products and services which are current
demanded in the market so that in Mark & Spencer firm they need to develop their new
strategy by pitching new product and services in their all outlets to enhance their business
and while pitching new products there must be openness to understand the current
demand and needs of the consumers in recent market and according to them select the
new product for the company. Mark & Spencer retail firm pitch new IT technology
products like mobiles, laptops, computers etc. to raise their market shares in effective
way. Respect: There must be respect towards the new pitching product decision in Mark &
Spencer firm. They need to implement their senior employees and clients thoughts to
develop their pitching product and service potential to its succession in the market.
Design a proper process in the pitching approach to develop their product expansion and
use your senior employee knowledge to select some new product and services. It helps to
maximise the chances of succession of pitch. Creative pitch: This approach describe about to the select a creative products and
services in Mark & Spencer company's outlet stores to attract their customers more
effectively(Cenere, Gill, Lawson and Lewis, 2015). In creative pitch Mark & Spencer
firm can use some creative service provider professional employees to make creation and
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decorate in outlets to attract more people towards the stores. And this activity increase the
competition in the market.
 Dynamic pitch: Dynamic pitch approach describe about to those activities by which
business can survive more efficiently in the market. In this activity most of the business
use some fast moving products to their outlets and Mark & Spencer firm must pitch
mostly new fast moving products and services in their outlets so that they would be able
sustain effectively in the business.
TASK 4
P.6. Assess the potential outcomes of pitch Prepare for success: There must be preparation of succession of pitches within the
organisation. There must be some relevant ideas and preparation regarding to their
pitching product and services which are necessary potential outcomes of your pitch
product(Garrison, 2014). Mark & Spencer corporation need to prepare their potential plan
in terms of development of product and services within the business. Work at the relationship: Most of the business make success of their business by having
good relations with their client to enforce them to be loyal towards the brand of the
company. Mark & Spencer business need to develop their relationship with customers
and pitching new product and services make people more attractive towards outlet so that
it give a potential outcome to the firm. Business expansion: The best sense of business pitching plan increase sales of the
company and raise the profitability of the firm so that business expansion could make use
of some pitching plan apply on the business such as creative product and services attract
the customers to their outlets which generate more revenue for the business to enhance
their market share(Hendricksen, 2014).
 Recommend ways in which Mark & Spencer firm can fulfill their post-pitching
obligations:
 This firm can use some previous pitching products and develop them according to the
new demand of the customers so that they would be able to increase their sales within
outlets.
 Post-pitching products of the company need to innovation in their benefits towards their
customers and make them more attractive to enforce their customers to buy them. These
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activities could fulfill the obligation of post-pitching products of Mark & Spencer
business.
P.7. Determine how organisations fulfill their obligation from pitch, identifying potential issues
that can occur
Mark & Spencer could use some new product and services like new technical products
like smartphone, computers, various clothes brands, new fast moving products that could make
raise the sales of the company(Nic Giolla Easpaig and Humphrey 2017). They use some
innovative technology at their outlets to provide better services and formulate strategic plan
towards their fulfill their obligation within the firm. Moreover, they could use of some
innovation their outlets and add some creative product at their outlets that can increase the
market sales of Mark & Spencer business in current market. Organisation can furnish some
creative innovation and add some new products according to demand and requirements of
customers within the business that can raise the value of company n the customer mind and
pitching skill helps the company to fulfill their obligation from pitching new plan of
development of product and service at their outlets.
 Potential issues:
 The new product selection is a very difficult task for every organisation so that it could be
one of the major potential issue for the firm that which product they should add in their
pitching business plan(Wiesmann 2010).
 Pitching product succession is anther potential issues for Mark & Spencer firm that the
chosen product will be success or not and customer give positive response to the new
product or not etc.
CONCLUSION
From the above investigation about to negotiation and pitching skill we have concluded
about to what is negotiation and the key stakeholder of negotiation process. Moreover, we have
evaluated the key steps and information required for negotiation and generating deals within
Mark & Spencer business. It is also concluded that the RFP process and the relevant types of
documentation are required for this process and explained the contractual process and how
relevant documentation is managed and monitored in Mark & Spencer firm. Ultimately we have
concluded about to the assessment the potential outcomes of pitches in the firm and determined
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how Mark & Spencer organisation fulfill their obligation from a pitch, identifying potential
issues that can occur within Mark & Spencer business.
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REFERENCES
Books and Journals
Cenere, P., Gill, R., Lawson, C. and Lewis, M., 2015. Communication Skills for Business
Professionals 7. Cambridge University Press.
Contreras, M., 2013. Interpersonal Skills For Entrepreneurs.
Furnham, A., 2012. Career success. In The Talented Manager. pp. 55-57. Palgrave Macmillan,
London.
Garrison, D., 2014. Gamecocks showcase skills at pro day.
Genovese, J., 2014. Sports television reporters and the negotiation of fragmented professional
identities. Communication, Culture & Critique. 8. 1. pp. 55-72.
Healy, K., 2011. Social work methods and skills: the essential foundations of practice. Palgrave
Macmillan.
Hendricksen, D., 2014. 12 more essential skills for software architects. Addison-Wesley
Professional.
Hodgson, K., 2011. Graphic Design Practice: business survival skills and behaviours.
Holden, R. K. and Thompson, L., 2013. Learn Successful Sales and Negotiation Tips .
Collection. FT Press.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Kamin, M., 2013. Soft Skills Revolution: A Guide for Connecting with Compassion for Trainers,
Teams, and Leaders. John Wiley & Sons.
Nic Giolla Easpaig, B. and Humphrey, R., 2017. “Pitching a virtual woo”: Analysing discussion
of sexism in online gaming. Feminism & Psychology. 27. 4. pp. 553-561.
Rich, C., 2013. The Yes Book: The Art of Better Negotiation. Random House.
Stephenson, J., 2013. 25 common characteristics of successful entrepreneurs. Accessed from:
http.
Tse, J., 2013. Pitching your ideas to senior management. Training & Development. 40. 6. p. 11.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to
Get, Set, and Keep the Fees You're Worth. Kogan Page Publishers.
Wiesmann, S. M., 2010. 24/7 Negotiation in couples' transition to parenthood. Utrecht
University.
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Williams, A., 2013. A study on the art and science of pitching new businesses. Doctoral
dissertation, Massachusetts Institute of Technology.
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