Pitching and Negotiation Skills | Assignment
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Added on 2020-11-23
Pitching and Negotiation Skills | Assignment
Added on 2020-11-23
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PITCHING ANDNEGOTIATION
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............................................................................................................................................4P.3. Apply the RFP process within M&S organisation context and they key documentationrequired and consequences of breaching the terms.....................................................................4P.4 Explaining the competitive tendering and contractual process and relevancy ofdocumentation is managed and monitored..................................................................................6TASK 3............................................................................................................................................7P.5 Explaining the pitch process in M&S, evaluating ways that leads in increasing chances ofsuccessful pitch ..........................................................................................................................7TASK 4............................................................................................................................................7P.6 Potential outcomes of a Pitch................................................................................................7P.7. Determine the ways by which M&S can fulfil their obligation form pitch, determiningpotential issues that can happen..................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONPitching and negotiation one of the crucial part for each organisation. In the report,negotiation process will be discussed on the organisational context in terms of resolving theirdisputers which incurs within business environment. The present report will be in context ofM&S organisation which is one of the largest UK based retail company. RPF process can beadopted by its professionals in context of approaching other companies to supporting its businessfunctionalities to attaining desired goals and objectives of firm. Beside from it, the assignmentwill be discussed about appropriate pitch applying key principles that accomplish a sustainablecompetitive side and assessment of the possible outcomes of different pitch process.TASK 1P.1 What is negotiation, why it occurs and who are the key stakeholders are during a negotiationprocessNegotiation: Negotiation is a method by which people settle down differences. It is aactivity in which agrees or argument is reached while ignoring disputation and resistance. Towand more parties gathered to making argument on a disputable topic to settle out them bynegotiation process. In any situation, there are numbers of negotiation forms are being used ionseveral types of situations. In the negotiation process (Badger, 2016). The principles of firtreating, seeking mutual benefits and maintaining a relationship are the keys to effectiveness ofoutcomes of the firm. It contains a specific types of terminology on which tow and more partiescan effectively address their issues and disputable situations. As per given case, Mark & Spencecompany, the negotiation has been obtained between manager and with its personal assistance onissues related to salary 10% rather than of 5%. It has examined that, negotiation occurs betweentwo and more parties, on such a situation in which, all parties are not agreed upon a commontopic. Both parties have their different-different view points on particular topic which allow themto having a disputable situation. The key stakeholders during negotiation process: During negotiation process are beingexecuted its process can be involved some essential stakeholders which can help them toimplementation of negotiation process at workplace in respective manner. According to givecase, it is required to having negotiation process in the complex circumstances to resolving theircurrent issues which occurred during discussion on raising the salary for year around 10% for tpperformer of the company (Cremades, 2016). So in this case, several stakeholders are needed to1
be involved to make out clear the way of gaining better outcomes of salary issues in the business.In order to resolving the given situations, the manager of store also require to involvement ofhuman resource department of company to reaching out to correct outcomes and gaining moresuggestion from them to arriving at fair outcomes of discussion. So in given case, store managerand his personal assistance are arguing on raise up in salary at annual basis. She was worth it,this posed the managers with a authentic difficulty because the average growth in salary for thatyear was 5% for top performers of the company.In the given case, negotiation process involves there are three major key stakeholderswhich is company's store manager, human resource department and his personal assistance. Withthe help of negotiation process, both parties are making discussion on front of HR professionalsof company and made a clear decision to settle out the given disputable situations (Dunne andMcKeon, 2015). A settlement was reached by agreeing on 6 % rise for three months and then anextra; 2 to 4 percent later if the new duty were adequately performed within business store. Thisis an approach of a negotiation on the in which both emerged with a win-win situation and smilesall around. During the negotiation process, several types of stakeholders are involves which helpthem to resolving critical situation of the business problems. With the help of this approach,manager of store can reach out to expected outcomes of the discussion.P.2 Evaluate the key steps and information required for negotiating and generating dealsIn order to execution of negotiation process, there are following steps can be utilised byorganisation in order to address bitterly conflict situation among various department oremployees of the mark and Spencer company. Preparation: Before take negotiation process, a conclusion required to be taken as towhen and where a meeting will take place in order to talk about the trouble and who will see thissituation at workplace. Respective procedures are being followed by its professionals in order toserve their quality of time investing time on conducting court procedures (Faff, 2015). So beforetaking places of the above given step, all relevant documentation and evidences related todisputable situation can assist them to execution of preparation step of negotiation procedure. Amajor struggle of interest exists between both parties. All parties feel that the negotiation willlead to a improved outcomes. So preparation process refer to arrangement of all resources whichmust be associated with conflict situations. In the given case, M&S departmental store manager2
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