(PDF)Pitching and Negotiation Skills
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Added on 2020-12-18
(PDF)Pitching and Negotiation Skills
Added on 2020-12-18
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Pitching and NegotiationSkills
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1 What is negotiation, why it occurs and who are the key stake holders in it...........................1P2 key steps and information required to carry out negotiation..................................................2M1 rationale for negotiation process with details of steps and information required.................3D1critical evaluation of steps of negotiation and presenting proper solution to the issues arise3LO2..................................................................................................................................................3P3 explain RFP process and documentation required.................................................................3P4 Contractual process and monitoring the documents...............................................................4M2 Apply RFP process at M&S and the documentation required with consequences ofbreaching......................................................................................................................................6D2 evaluate the tendering and contract process with recommendation......................................6LO3..................................................................................................................................................6P5 Develop a pitch process with key principles to have a competitive edge..............................6M3 Evaluate the pitching at M&S and ways to maximise chances of a successful pitch...........7D3 Develop a pitch both concise and persuasive in nature for competitive edge.......................7LO4..................................................................................................................................................8P6 Potential outcome of a pitch...................................................................................................8P7 how organisation fulfil their obligation from pitch and identify the issues that can occur....8M4 recommend ways in which organisation fulfil its post pitch obligation...............................8D4 Evaluation of pitch and post pitching outcomes to have risk management...........................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Pitching and negotiating is the process that is required to be followed in an organisationin order to carry out the business operations and activities in a very significant manner (Rusko,Härkönen and Petäjäniemi, 2017). This will help the firm to have a good control over theoperations and reduce the chances of conflicts at the work place. For the report, Marks andSpencer is been selected.The report consist of details of negotiation process, reason of occurrence and the keystake holders in it. The key steps of information is analysed with RFP process and thedocumentation required for it. The contractual processes and an appropriate pitch is beendeveloped for a competitive edge. The outcomes of a pitch and the organisational obligations fora pitch is been discussed.LO1P1 What is negotiation, why it occurs and who are the key stake holders in itNegotiation is the process that is been undertaken in an organisation like M&S in order toresolve a dispute or differences. It helps the firm to reach on an agreement or outcome that willhelp to avoid an argument (Ku, 2016).Negotiation process occurs in a firm in order to carry out the business operations andactivities in much effective and significant manner by diminishing the differences among theemployees. It is necessary to carry out the business functions and other activities within a firm.A stake holder is a responsible person who is affected by the negotiation or the decision makingprocess that is been taken within an organisation. The key stake holders in a negotiation processare:InvestorsShareholdersCustomersSuppliers EmployeesThe firm is required to effectively manage the communication and treat them all equallyin order to reduce the chances of differences and failing of negotiation process.1
P2 key steps and information required to carry out negotiationCarrying out the negotiation process is very important in case of any dispute or differenceat the work place. The negotiation process within an organisation consist of four steps which areas follows:Preparation and planning: This is the process taken prior to negotiation in which theinformation is been gathered and the people are been involved to initiate the process.Type of negotiation to be carried out and its objectives are been discussed and a plan isben drafted (Berberich, 2013).Opening phase: This is the phase when the two parties come face to face for negotiationprocess and tries to influence other with their point of view. Psychologically, this phase isimportant because it sets the flow of negotiation that is been carried out.Bargaining phase: This phase helps the firm to reach the outputs of its negotiationprocess that is been followed. During this, each party tries to justify the appropriatenessof demands and plan the arguments that are been carried out.Closure phase: It is the stage where all the actions that are been carried out in previousstages are ben summarised and forms and agreement which is acceptable to all the partiesin the negotiation. Reviews of all the elements are been carried out and the scope ofimprovement is been analysed.Various documents are been analysed in order to carry out the negotiation processeffectively. Some of the documents that are been evaluated are as follows: Negotiation plan: This consist of the details of the negotiation process and the actionplan that is been taken in consideration by the team or the board while carrying out theprocess. It includes the details of the parties involved, reason of conflict and proceduresto be followed (De Man and Wouters, 2012).Need assessment: This include the details of requirements or needs of the parties andsuggestions to meet them.Communication strategy: It includes the derails about the action plans and theoperations that are been carried out within an organisation to further proceed tonegotiation process.2
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