Pitching and Negotiation Skills within Mark & Spencer : Report
Added on 2020-06-06
14 Pages3741 Words581 Views
PITCHING ANDNEGOTIATION SKILLS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P.1. What is negotiation, why it occurs and who are the key stakeholders are during anegotiation process......................................................................................................................1P.2. Evaluate the key steps and information required for negotiating and generating deals......2TASK 2............................................................................................................................................3P.3. Explain the RFP process and the relevant types of documentation required.......................3P.4. Explain the contractual process and how relevant documentation is managed andmonitored....................................................................................................................................4TASK 3............................................................................................................................................6P.5. Development an appropriate pitch applying key principles that achieve a sustainablecompetitive edge.........................................................................................................................6TASK 4 ...........................................................................................................................................7P.6. Assess the potential outcomes of pitch................................................................................7P.7. Determine how organisations fulfill their obligation from pitch, identifying potentialissues that can occur....................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONIn this research, we would take a look at determine what is negotiation and who the keystakeholder are during a negotiation process and evaluate the key steps and information requiredfor negotiating and generating deals within Mark & Spencer business. Furthermore, we willdiscuss about to explain the RFP process and the relevant types of required documentation withinthis process and explain the contractual process and how relevant documentation is managed andmonitored within Mark & Spencer corporation. We would look at an appropriate pitch applyingkey principles that achieve a sustainable competitive edge within the company. Untimely, wewould discuss about to the potential outcomes of a pitch and determine how Mark & Spencercorporation fulfil their obligation from a pitch, identifying potential issues that can occur withinthe enterprise.TASK 1P.1. What is negotiation, why it occurs and who are the key stakeholders are during a negotiationprocessNegotiation: Negotiation is a process in which differences are to be settled between twoparties(Horton, 2016). And It is the process in which both the parties reach tocompromise and agreement and with doing this they avoid arguments and disputesbetween them. When two parties are not during their job properly and not performing as per the policiesof 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 mustoccurs 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 retailcompany and there is an issue occurs between the overall manager at the store and theirpersonal assistant who help manager for their daily operation of management activities sothat P. A. Requests to the managers for increase their salary at 10% for the year and thisis worth for her. Usually, many f big companies raise salary by 5% annually so for reasonthere occurred a negotiation between store departmental manager and between theirpersonal assistant. The manager is decided to being implementation of a negotiationprocess by which they would be able to prepare a reliable decision between them.1
There are several of key stakeholder during a negotiation process, in the given case thereare stakeholder persons are the negotiator and Mark & Spencer store's departmental head,human resource department professionals are also being there for have an appropriatenegotiation process and generate possibilities of better outcomes with the helps ofnegotiation process(Stephenson, 2013). The main key stakeholders are those who presentat the point of negotiation process and make involvement in this process. Those personsare 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 disputesbetween themselves and the negotiator who play the major role in settling the disputesbetween them. P.2. Evaluate the key steps and information required for negotiating and generating dealsFollowings are key steps of negotiation:Preparation: In this step of negotiation the person who is negotiator between two partiesshould recognise the potential value begin to know about to their interest which aredeveloped by the facts base in the situation(Furnham, 2012). In these steps all preparationmust be cleared that negotiation is necessary for them or not and identify the goals andinterest of both parties in which they want to settle their disputes. In the given case, theremust collection of all required information and preparation of all the steps and neededdata for have a better negotiation between Mark & Spencer store manager and theirpersonal assistant dispute. Preparation is mos essential part to start a negotiation in betterway so that the company store manager and their P. A. Must prepare themselves andgather all the required information which are required during negotiation process.Discussion: There must be a proper discussion between both the parties in thenegotiation process. In the given case there ought to be appropriate discussion about to allthe issues and disputes between them and it generates the best solution for both parties infront of negotiator(.Contreras, 2013). A reliable discussion between Mark & Spencerstore manager and their personal assistant make their decision effective so that they needto show all their difficulties regarding to their salaries and office working days thenpresented person at the time of negotiation make their decision according to both partiesdemands and find out the best suitable option of them as well2
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