Report on Stakeholder's Pitching and Negotiation Skills
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Added on 2020-06-03
Report on Stakeholder's Pitching and Negotiation Skills
Added on 2020-06-03
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Pitching andNegotiation Skills
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Defining negotiation and reason for its occurrence along with Key stakeholders................1P2 Evaluation of key steps and information needed for negotiating and generating deals.........2LO 2.................................................................................................................................................3P3 Explain the RFP process and the relevant types of documentation required.........................3P4 Explanation of contractual process and relevance of documentation ...................................4LO 3.................................................................................................................................................5P5 Evolution of a pitch by applying key principles....................................................................5LO 4.................................................................................................................................................6P6 Assessment of potential outcomes for a pitch........................................................................6P7 Determination of obligations from a pitch and identification of occurrence of potentialissues...........................................................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................1
INTRODUCTIONNegotiation and pitching skills are one of the most important skills that are required to bepresent in every employer so that they can handle all the issues that are arising in the companiesin an effective manner. These are skills which can be gained by the experiences they get or fromthe knowledge they are having . These are very effective because if the employer will not applyit on time then it can create some major issues in the company (Horton, 2016). These arebasically used so as to satisfy the wants of opposite part without making loss of oneself. Theorganisation that is referred here is Marks and Spencer which is a famous supermarket chain inUK. This report will discuss about various subjects like stakeholders involved in negotiationprocess, information required for generating negotiation ideas, RPF process and requireddocumentations, contractual process and monitoring of documentation along with key principlesfor achieving sustainable competitive edge and potential outcomes of a pitch as well. LO 1P1 Defining negotiation and reason for its occurrence along with Key stakeholdersNegotiation can be defined as a process that it carried out so as to arrive at a commonpoint after sorting out all the differences. In other words, it can be said as a situation in which acompromise is done between two parties so as to sort out the matter which can lead to a bigconflict inside the company. These terms are often used by people who are doing any kind ofdeal in the company. It is a very complex as everyone does not have this skill and it is developedthrough experiences only. The person who is applying it has to be full confident so that they canconvince the another party effectively. It is required to be make sure that while negotiatinganother party should not be at loss and mutual benefit should be involved (Dierdorff, Rubin andBachrach, 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 tovarious conflicts and issues. It can arise at the time when a deal is going to be finalisedor at the time when an efficient employee has demanded something but company is notable to survive them. So, management of Marks and Spencer can use Negotiation andpitching skills so as to solve all the issues of the company . Building up Respect – Respect is utmost required inside an organisation. If employeeswill not behave good with one another them they will not be able to accomplish the goalsof the company. So, if negotiation will be done in a corrective manner then the respect1
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