Pitching and Negotiations Skills: A Guide for Success

This report explores the importance of pitching and negotiation skills in business and provides a guide for success. It covers the steps involved in the negotiation process, the RFP process, and the contractual process. It also discusses key documents required for each process and the principles to achieve sustainable competitiveness. The report concludes with recommendations for potential outcomes of a pitch and highlights post-pitch obligations and potential issues that can occur. Recommended for students studying business and entrepreneurship.

Pitching and
negotiations skills
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INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1. Define negotiation, why it occurs and the key stakeholders during the period of
negotiation process.................................................................................................................3
P2. Discuss in detail steps that organisation required for the negotiation process and
information required in preparation........................................................................................4
LO2..................................................................................................................................................6
P3. Discuss the RFP process and outline key documents required........................................6
P4. Discuss contractual process and key documentations required and how they managed and
monitored................................................................................................................................7
LO3..................................................................................................................................................7
P5. Write the appropriate pitch and the key principles to achieve sustainable competitive edge
................................................................................................................................................7
LO4..................................................................................................................................................9
P6. Recommend potential outcomes of a pitch......................................................................9
P7. Discuss the post pitch obligations and highlight the potential issues that can occur.......9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Pitch is defined as a business plan which is presented in a verbal manner in order to create more
sales and influence interest of investors towards business towards particular service or product.
Organisations is required to provide proper awareness to consumers in an effective manner in
today's business world (Bosch, 2021). Negotiation skills play most important role through which
organisation can gain capabilities to attract new investors and consumers in effective manner.
Present report has been conducted on Microsoft which is operating its services as a multinational
technology corporation that develop, manufactures, support, licences and sell computer software,
personal computers, consumer electronics and related services. This report includes formative
discussions upon the concept of negotiation, its process along with RFP process. In addition to
this contractual process and key documents required along with key principles to achieve
competitiveness with potential recommendation is being included in this report.
LO 1
P1. Define negotiation, why it occurs and the key stakeholders during the period of negotiation
process
Negotiation
Negotiation is an effective process in which company resolve the differences and further
gain benefits from collective as well as individuals. It is a systematic procedure in which two
parties focus upon their needs, viewpoints, prospective and aim to discover common solution to
form an agreement with mutual concern and to resolve any form of conflict. Negotiation is
defined as a process in which unnecessary deputes is being mitigated. It is essential to have an
effective negotiation skill in order to achieve higher success.
Reasons behind Negotiation
To resolve the conflicts or disputes:
Most important reason behind negotiation is to find a common solution of disputes. With the
help of negotiation process engaged parties can discuss number of solutions of critical and
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complex situation which is affecting objective or goal (Donnelly, 2021). Negotiations process is
being effectively considered by Microsoft while allocating their work among their workplace in
order to effectively optimise resources during their operations, as it helps in accomplishing goals
by utilising available resources in effective manner.
For creating win- win situation:
Any other reason of negotiation is to settle down the problem with the help of pitching
and negotiation skill in order to agree upon common or suitable action. It is the most important
stage with the help of which Microsoft can assure Win- Win situation and can gain benefits
while assuring favourable decision.
Different behaviour and perspective:
Every organisation is having individual with different mindset, viewpoints and behaviour that
lead towards negotiation within company. In this it is essential for organisation like Microsoft to
promote cultural diversity, as it not only helps in bringing new ideas innovative steps but also
helps in having mutual agreement between employees of different culture (Fang, 2021). This led
towards negotiation process that will help company to emphasize upon every individual
viewpoint.
Key stakeholders
Stakeholders are those individuals or groups who are indirectly as well as directly involve
in interest of organisation these individuals engage in the process of negotiation and are
responsible for influencing, with the help of communicating the need of mutual agreement
stakeholders of organisation. Negotiation process includes suppliers, consumers, investor,
employees and organisation top management. With the help of these stakeholders mutual and
successful agreement between parties can be assured as a result of negotiation.
P2. Discuss in detail steps that organisation required for the negotiation process and information
required in preparation
In order to undertake negotiation process among two or more parties it is essential for an
organisation to emphasize upon certain steps that are included in this process. This will help in
offering favourable outcome along with measuring success of negotiation. Mentioned below
there are some detail steps included in this process is elaborated:
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Prepare:
It is first and foremost step in which company is required to extensively engage in preparing
negotiation in order to generate a deal (Kan and Ismail, 2021). It includes preparing both the
parties for discussion and evaluating potential as well as possible trade-offs. This will help in
determining desired outcomes. At this stage Microsoft will emphasize upon all the ground rules
in terms of bargaining for negotiation in terms of evaluating when, where, with whom and the
time frame of negotiation process.
Exchange information:
It is an essential step in which exchange of information between parties is under taken
place in terms of identifying conditions and terms in context of negotiation. With the help of this
company can share their interest as well as concern that will help in avoiding any form of
unnecessary interruption in future.
Clarify:
This stage is inclusive of clarification from both the parties in order to further undertake
discussion of negotiation (Khan and Kohsuwan, 2021). It helps in clarifying any doubts that can
further lead towards disagreement in future. This helps in understanding each other's point in an
effective way.
Bargain and problem solving:
At this stage fair negotiation under take place among both parties in which engaged
parties offer others proposal in order to counter their problems and manage concessions. Main
aim of this stage is to develop a Win-Win situation for both parties with the help of providing
positive course of action.
Conclude and implement:
After both parties come to an acceptable solution at this stage, they thank each other for
that time discussion and further conclude negotiation process by making entry into a good long-
term relationship that further helps in implementing mutual agreed positive negotiations terms
that will be further implemented in effective manner.
Thus with the help of emphasising upon all the stages of negotiation process Microsoft can
a show or higher success by offering their pitch.
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LO2
P3. Discuss the RFP process and outline key documents required
RFP is define as a process for request for proposal that is mainly a formal request within
which organisation ask their vendors to effectively demonstrate as well as submit a proposal that
duly represent services and products that they are proposing and the manner, in which they will
address the needs for more than one issue of key business.
Gathering RFP requirements:
It has been identified that in RPF there is a need of partnership for which a good partner
is the required a vendor is needed to offer the background and in relation to understand business
needs. In this RFP is required to tell the vendor related to the problems that a legal entity can
effectively address.
Crafting your RFP:
It has been evaluated that there is different type of questions that are required to be simplified in
which formulation of RFP is essential that will significantly provide answer to these questions
(Moore, 2021). By taking assistance of information collected from stakeholders RPF questions
will be developed that further helps in selecting suitable vented that helps in increasing on time
completion. However it has been underlined that RPF question is required to be in yes/no form.
Shortlist the vendors:
After submission of proposal by the vendor the RFP issuer can start the initial evaluation
in which they are required to effectively evaluate qualified vendor in order to shortlist them as
per their strength with the help of in-depth comparison process.
Follow up with shortlisted vendors:
At this stage vendor is allowed to engage in discussion with issuer in which explanation of their
products and services are conducted in order to determine the extent at which they are different
from rest of the competitors (Mustafa, 2021). With the help of this stage issuer can have a clear
vision about the further process.
Final selection and completing contract:
According to the collected information on the above process in this stage issuer will
undertake final selection by taking assistance of strategic scoring process. This further lead
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towards full documentation process that will be collected of the vendor in order to complete
contract.
Documents required for the RFP process are
SOW (statement of work)
Request of quotation
Terms and condition
P4. Discuss contractual process and key documentations required and how they managed and
monitored
Contract management process mainly aim towards managing contract, creation, execution and
evaluation in order to enhance financial as well as operational performance while reducing any
form of financial risk. It has been identified that in order to have a contract there are some key
requirements such as an offer, an acceptance, a situation to create a legal relationship and a
consideration (Ozimek, 2021). A contract mainly hold agreement between two parties which is
legally binding. It involves process related to preparation in which company is required to
evaluate need and establish goal and further set expectations while defining risk, while taking
steps include drafting of contract with the help of legal terms in order to make sure that all the
information included in contract is up to date and according to the required process. After this
approval before finalizing the contract is required to be conducted that further lead towards
fourth stage which is contract negotiation. After this binding of the contract is being done among
engaged parties after which audit retrieval and applications is being done, as contract
management does not stop when the contract. With the help of emphasizing upon this process
proper management and monitoring of contract can be undertaken in effective manner by
company. It is essential for Microsoft to emphasize upon all the process in contract with the help
of contract management and include key documentation in order to monitor and manage contract
process.
LO3
P5. Write the appropriate pitch and the key principles to achieve sustainable competitive edge
PPT
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Pitch of Microsoft
Our pitch is to develop environment friendly innovation as a new ordinary. What might it
take to make world a typical spot with ecological development? Organizations are looking
towards significant opportunities to meet and surpass the manageability in their objectives and
targets. At Microsoft we commit to being carbon negative by 2030. Our goal is to low carbon
business practice by embracing cultural diversity in order to bring different culture together for
this cause. We began with little steps and systems; Microsoft has been carbon neutral across the
world since 2012 and support sustainable business practice and promote zero carbon waste
across campus. Subsequently, Microsoft will jump at the chance to bring your interest towards
such policy through which we can reduce humanity’s carbon impact for which cultural diversity
in workplace will proves to be effectuate that will help in making environmentally friendly
innovation in technology industry.
LO4
P6. Recommend potential outcomes of a pitch
Covered in PPT
P7. Discuss the post pitch obligations and highlight the potential issues that can occur
Covered in PPT
CONCLUSION
According to the above-mentioned report it has been concluded that in order to gain more
competitiveness in modern world organisation is required to have proper understanding and
Awareness of pitching and negotiation skills it not only helps in developing more networking
opportunity but also facilitate company to maximize its sales and profitability at great expense
with the help of this skill company can gain hire competitiveness and can further maximize their
profitability and productivity
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REFERENCES
Books and Journals
Bosch, N., 2021. Western Incubators: Their Impact on the Entrepreneurial Process of African
Ventures (Master's thesis, University of Twente).
Donnelly, S., 2021. Lion of the Senate: When Ted Kennedy Rallied the Democrats in a GOP
Congress. Historical Journal of Massachusetts, 49(1), pp.186-188.
Fang, Z., 2021. Demystifying Academic Writing: Genres, Moves, Skills, and Strategies.
Routledge.
Kan, H.Y.K. and Ismail, N., 2021. Competing Values Framework as Decoding Tool: Signature
Pedagogy in Teaching Business Communication. Business and Professional Communication
Quarterly, 84(1), pp.60-84.
Khan, S.B. and Kohsuwan, P., 2021. The Influence of Supervisory Approaches on Sales
Performance Through a Regulatory Focus Perspective in Telemarketing in Bangladesh. HUMAN
BEHAVIOR, DEVELOPMENT and SOCIETY, 22(1), pp.83-94.
Moore, D.A., 2021. Perfectly Confident Leadership. California Management Review,
p.0008125621992173.
Mustafa, M., 2021. Post-investment Monitoring and Value Addition. In Angel Investing (pp.
205-226). Palgrave Macmillan, Singapore.
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Ozimek, A.M., 2021. Skills Shortages, Gaps and Training Needs in the screen industries in
Yorkshire and the Humber: Scoping Report.
Petrović, J. and Pale, P., 2021. Achieving Scalability and Interactivity in a Communication Skills
Course for Undergraduate Engineering Students. IEEE Transactions on Education.
Ratinho, T. and Mitsopoulos, M., 2021. New forms of entrepreneurship support in a growing
entrepreneurial ecosystem: the case of business incubation in Greece. In Handbook of Research
on Business and Technology Incubation and Acceleration. Edward Elgar Publishing.
Robinson, M. and Novak-Leonard, J., 2021. Refining Understandings of Entrepreneurial
Artists. Artivate: A Journal of Entrepreneurship in the Arts, 10(1).
Sproull, B. and Hutcheson, M., 2021. The New Beginning: A Business Novel on how to
Successfully Implement the Combination of the Theory of Constraints, Lean, and Six Sigma to
Drive Profit Margins. CRC Press.
Warnick, B.J., Davis, B.C., Allison, T.H. and Anglin, A.H., 2021. Express yourself: Facial
expression of happiness, anger, fear, and sadness in funding pitches. Journal of Business
Venturing, 36(4), p.106109.
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