Teaching Social Entrepreneurship

This assignment delves into a novel approach for teaching social entrepreneurship. It examines the latest research and educational methodologies in this field. The focus is on developing effective strategies for integrating concepts of social impact, business acumen, and ethical considerations within an entrepreneurial learning framework.

Pitching and
Negotiation Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Defining negotiation and reason for its occurrence along with Key stakeholders................1
P2 Evaluation of key steps and information needed for negotiating and generating deals.........2
LO 2.................................................................................................................................................3
P3 Explain the RFP process and the relevant types of documentation required.........................3
P4 Explanation of contractual process and relevance of documentation ...................................4
LO 3.................................................................................................................................................5
P5 Evolution of a pitch by applying key principles....................................................................5
LO 4.................................................................................................................................................6
P6 Assessment of potential outcomes for a pitch........................................................................6
P7 Determination of obligations from a pitch and identification of occurrence of potential
issues...........................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Negotiation and pitching skills are one of the most important skills that are required to be
present in every employer so that they can handle all the issues that are arising in the companies
in an effective manner. These are skills which can be gained by the experiences they get or from
the knowledge they are having . These are very effective because if the employer will not apply
it on time then it can create some major issues in the company (Horton, 2016). These are
basically used so as to satisfy the wants of opposite part without making loss of oneself. The
organisation that is referred here is Marks and Spencer which is a famous supermarket chain in
UK. This report will discuss about various subjects like stakeholders involved in negotiation
process, information required for generating negotiation ideas, RPF process and required
documentations, contractual process and monitoring of documentation along with key principles
for achieving sustainable competitive edge and potential outcomes of a pitch as well.
LO 1
P1 Defining negotiation and reason for its occurrence along with Key stakeholders
Negotiation can be defined as a process that it carried out so as to arrive at a common
point after sorting out all the differences. In other words, it can be said as a situation in which a
compromise is done between two parties so as to sort out the matter which can lead to a big
conflict inside the company. These terms are often used by people who are doing any kind of
deal in the company. It is a very complex as everyone does not have this skill and it is developed
through experiences only. The person who is applying it has to be full confident so that they can
convince the another party effectively. It is required to be make sure that while negotiating
another party should not be at loss and mutual benefit should be involved (Dierdorff, Rubin and
Bachrach, 2012). The various reasons due to which negotiation is achieved are as follows:-
 Avoiding conflicts – There are so many situations in a company which gives rise to
various conflicts and issues. It can arise at the time when a deal is going to be finalised
or at the time when an efficient employee has demanded something but company is not
able to survive them. So, management of Marks and Spencer can use Negotiation and
pitching skills so as to solve all the issues of the company .
 Building up Respect – Respect is utmost required inside an organisation. If employees
will not behave good with one another them they will not be able to accomplish the goals
of the company. So, if negotiation will be done in a corrective manner then the respect
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between both the parties will be maintained . Therefore, M&S should try to implement
this factor so as to do negotiation effectively (McNeill and et. al., 2014).
 Creating a Win-Win Situation - It is generally believed that negotiation is a process in
which one party has to loose to make another party win. But it is not the reality because
while negotiating people can make a decision in which both the parties will win and no
one will loose. So, managers at M&S should make sure that they are not doing any kind
of deal in which one party loses from another.
P2 Evaluation of key steps and information needed for negotiating and generating deals
Before starting the negotiation process, it is very essential for the companies to know that
what are the demands of opposition party so that they can decide that whether it can be fulfilled
or not. In Marks and Spencer also, the employer has to be efficient so as to apply these kinds of
skills at correct time. If they are having issues related to salary or rights of employees then the
employer has to react in a smart manner so that the issue is also resolved and the employee is
also satisfied. So, the Key steps that are required to be taken by M&S so as to implement
negotiation in a better manner are :-
 In the first step, it needs to be recognised that from where all this matter started and what
are the why did the issue arise and what is the most effective way to solve this issue.
 In the next step, both the parties need to put their point if view in front of each other so
that it can be analysed that what do they actually wanted to convey.
 Now, since both the parties have put the point , it is the time to start the process of
negotiation in which both the parties will provide solutions to against the problems that
has been raised. It can also be called as proposals and when other party speaks, it is called
counter proposals.
 It is very much required that both the parties should come prepared for the meeting so
that they do not face any kind of issues while putting their ideas in front of each other.
They should have their own aims and objectives prepared which they can speak while
doing negotiation (Jackson, 2012).
 They should start their discussion from the topic on which they all are agreed upon so
that there is no clash in between them from starting itself.
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 While making discussion , it is very essential for the parties that they tell openly the
benefits that they are getting from the deal because otherwise good understanding will
not be built in between them (Chang, Benamraoui and Rieple, 2014).
(Source: Process of Negotiation, 2018)
LO 2
P3 Explain the RFP process and the relevant types of documentation required
In case of settlement there is requirement of proper documentation as this is authentic in
near future. It is important to send documents, this is generally done by company to vendor.
These days there is important role IT in forming these documents. RFP helps in knowing what
has been asked by vendor and try to come up with best solution. In case of M&S there is
requirement of formal RPF (Genovese, 2014). There are many issues faced by organisation to
operate their pending dealing with outer parties. So there must be solution provided to RPF so
that there can smooth running of operations. This will provide assistance to top level
management of company in negotiate with them.
Mainly there is requirement of three documents which are discussed below-
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Illustration 1: Process of Negotiation

Defining up your need- There is some essential issues which is the reason of talk with
vendors. So this elements talks about proposal which is discussed. It is observed that this is the
main component in RFP. In this vendor gets facility of tailoring its proposal. But the
disadvantage is that it is a time consuming process because the proposal has be reviewed by
vendor (Cooke and Zaby, 2015).
Communication strategy- RPF helps in getting the source of communication and
distribution. Hence this is also important component of proposal./ it is essential that vendor has
to reply in specified way , that he/ she has received. Timelines of RPF helps to know interview
dates, finalist, presentations, etc.
Evaluation criteria- This is way through which negotiation can be done between vendor
and company. This is important to share proper details with vendors son in case of any
discrepancy there will be chances of clear communication between company and vendor. There
are possibilities that vendor has some query regarding deal so it can be clear at that time. E.g.
There are many stores of M&S having decentralised billing system. But vendor can make bill of
different stores in one bill then it will be issue for company.
P4 Explanation of contractual process and relevance of documentation
Contractual process define that contract which are placed to be considered with the law.
There are different stages that has to be considered in this procedure which are as under:
 Initial discussion and checks- It is the first stage of contractual process. It is necessary
for organised preliminary discussion among representative and authority for contractors.
It is important for representatives to take initial step for checking the security and safety.
The negotiation has been carried out between the concerned individuals. There are
various implication that related to safety and security should be discussed.
 Security requirement- It is the second step in the contractual process which occurs
between authority and representatives of contractor. Company need to check and
investigate the background of person that can change in rapid way. The data or
information provide by contractor which are under legal and contractual threat on the
ground of safety and security controlling process (Tripopsakul and Charupongsopon,
2017).
 Security oversight and assurance- This is third stage where contractual authorisation is
grant for giving responsibility to assured and contracting authority. The safety guidance is
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provided for make sure that all major areas should be taken under consideration that
includes documentation, IT, physical and nelson safety control. Such sites will be visited
by an authority for ensure that security organised in premises is described.
 In-contract monitoring- This is the last stage in contractual agreement. In this stage
security should be monitored and carry out for make such assets which are preserved. The
major changes that should be bring out for ensure that all preserved assets can be
destroyed and terminated (Nudelman, 2017).
LO 3
P5 Evolution of a pitch by applying key principles
Pitch can be referred as a type of communication which is done by the stakeholders to the
prospects of the company. In this situation, all those companies who are in a need of funds are
pitching in front of individuals and groups so as to convince them to invest in their company. It
is very essential for the companies to make sure that they are having good plans so that they can
effectively convince the other parties to invest. The common term that is used here is Elevator
which defines the way in which a description is required to be prepared so that it can be
understood by the opposite party in a short duration of time. The key principles that can be
applied so as to develop pitch is as follows :-
 Keep it short – It is one of the most essential element that is required to be considered
while pitching because the investors will not have so much time to listen whole story.
The whole process should be explained in a short manner so that the investor finds it easy
to understand.
 Avoid Hockey stick projections – It is also very essential that the presenter should
showcase ideas that are realistic and not that which is not possible to be achieved. It is
necessary because the investors generally thinks of today's profit and if they will not find
to in the project them they will not be able to crack this deal (Rogoff, Morelli and
Chavajay, 2010).
 Focus on implementation – For convincing the investor, it is required that should me
made realised that presenter are very serious about its implementation and the project will
be on roll once the investment is received. So, this will induce the investors to put money
on such businesses so that they can start earning profits as early as possible.
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 Use ideal management techniques – While doing pitching it is very necessary that the
presenter makes use of core marketing techniques for explaining the idea in a more
effective manner and giving a good impression to the investors as well (Negrón, 2014).
LO 4
P6 Assessment of potential outcomes for a pitch
From the above discussion it is clear that negotiation is a time consuming process. It is
important that company has to provide best alternative and still if vendor ahs query then he/ she
respond through elevator pitch. Mainly manager of M&S provides four types of replies. They
are as follows-
ACCEPTANCE- this is most easy and good situation when vendor accept the proposal
as the company send. E.g. there is requirement of money to organisation, they are ready to
provide fund and hence accept the proposal. This situation is favourable for company. After this,
no shop contract which states that no other firm has been approached. it is not essential to feel it.
REJECTION- This is unexpected situation for company. This condition has nil
probability, this will happen when investor does not understand the idea. This situation is
wastage of time and resources as managers have to make efforts to explain their prospective
plan to other interested candidates.
NO RESPONSE- This is the situation when investor does not revert back after knowing
idea. This situation is also adverse as their will be chances of non acceptance of idea. In this
situation manager should try to contact persona gain and again and with their reaction that
whether they want to invest or not. Sometimes there are possibilities that investor fed up of calls
and messages from manager of company. Sometimes there are chances that investor have some
doubt in mind so they are confuse whether to invest or not, so they do not revert. In this situation
manager has to analyse the situation and solve doubts (Horton, 2016)).
COME BACK LATER- This is the situation when investor is satisfy but due to some
other dissatisfaction they ask manger to come back after some time. This will make manger to
think whether to contact some other investor or to contact particular person after some time. This
reply may get delay in starting project. To overcome this situation it is important manager has to
judge about perception of investor and afterwards take forward step.
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P7 Determination of obligations from a pitch and identification of occurrence of potential issues
The term elevator pitch can be defined as an unique and common technique which is
adopted by companies to complete expectations or obligations of its stakeholders associated with
it. An organisation after attaining that position of economical assessment from pitch having
various obligations are as follows:
Generating revenue: This term referred as procedure by which the company markets and
sells products or services to produce income. Several kind of investors are associated whit firm
to invest their money and expect better income along with rate of return. They can assumptions
as per current scenario of enterprise and its strategies about its future profits. On this, basis they
will show their interest to invest money in several organisations (Dierdorff, Rubin and Bachrach,
2012). Overall, the companies have to make effective strategies, policies or plans to improve
their productivity and profitability to fulfil expectations of investors. It is important for enterprise
to make second plan to tackle with urgencies and issues which may raised during operational
activities to reduce losses.
Managing Relationship: every organisation have essential task of completing the
expectations of their stakeholders to retain them by making better relationship with them. Along
with it, they have major responsibilities to fulfil desires or needs of clients in respect to improve
the qualities or features of goods or services. They have to supple proper quantity of products in
market on time as per demands of people. It may facilitate to attract new customers as well as
retain current ones. By applying pitching method in proper way to concentrate on core
procedures to attain formation of contingencies.
CONCLUSION
This report make clear about that every organisation has to make efforts to deal with
different situations. There are external as well as internal factors which affects decision making
of manger. It reports shows that manger has to the responsibility to deal with various conflicts
and try to settle it in best way. This will not only benefits company but also personal skills of
employees. There are various deals of organisations with internal as well external parties and in
case of any dispute there must alteration in current policies. Every time it is not necessary that
company can switch to other option so negotiation is best option.
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REFERENCES
Books and Journals
Chang, J. and Rieple, A., 2013. Assessing students' entrepreneurial skills development in live
projects. Journal of Small Business and Enterprise Development. 20(1). pp.225-241.
Chang, J., Benamraoui, A. and Rieple, A., 2014. Learning-by-doing as an approach to teaching
social entrepreneurship. Innovations in education and teaching international. 51(5).
pp.459-471.
Cooke, B. and Zaby, A., 2015. Skill gaps in business education: fulfilling the needs of tech
startups in Berlin. Journal of Higher Education Theory and Practice. 15(4). p.97.
Dierdorff, E. C., Rubin, R. S. and Bachrach, D. G., 2012. Role expectations as antecedents of
citizenship and the moderating effects of work context. Journal of Management. 38(2).
pp.573-598.
Genovese, J., 2014. Sports television reporters and the negotiation of fragmented professional
identities. Communication, Culture & Critique. 8(1). pp.55-72.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Jackson, D., 2012. Business undergraduates' perceptions of their capabilities in employability
skills: Implications for industry and higher education. Industry and higher education.
26(5). pp.345-356.
McNeill, T. and et. al., 2014. In for the Long Haul—Models of Sustained Graduate Support and
Education. Industry and Higher Education. 28(6). pp.417-425.
Negrón, R., 2014. New York City's Latino ethnolinguistic repertoire and the negotiation of
latinidad in conversation. Journal of Sociolinguistics. 18(1). pp.87-118.
Nudelman, G. R., 2017. Engineering identity: Analysing e-portfolios in a professional
communications course. South African Journal of Higher Education. 31(2). pp.211-225.
Paço, A., Ferreira, J. and Raposo, M., 2016. Development of entrepreneurship education
programmes for HEI students: The lean start-up approach. Journal of Entrepreneurship
Education. 19(2). p.39.
Rogoff, B., Morelli, G.A. and Chavajay, P., 2010. Children’s integration in communities and
segregation from people of differing ages. Perspectives on Psychological Science. 5(4).
pp.431-440.
Tripopsakul, S. and Charupongsopon, W., 2017. What Skills Do Nascent Entrepreneurs Need?
The Evidence from Thailand. European Research Studies. 20(2). p.250.
Online
Pitching in business.2018.[Online].Available through:<http://articles.bplans.co.uk/starting-a-
business/the-business-pitch/407>.
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