Pitching and Negotiating Skills in Business Organizations

Pitching and negotiating skills

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Defining negotiation and determining reasons for negotiation and key stakeholders involved in
a negotiation process:...................................................................................................................3
Critically evaluating the steps of the negotiation process and presenting valid solution for
dealing with issue:........................................................................................................................4
Explaining and applying the RFP process and type of documentation required including
consequences of breaching the terms of an agreement:...............................................................5
Explaining the contractual process and tendering to make a tender successful with minimal
risk:..............................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Negotiation is process in which two parties agree on one final outcome, an formal
interaction and argument is been conducted between these party for a particular product or
service. Bargaining is key element in negotiation process allowing one party to bargain on
particular area, mutual understanding does matter in negotiation process (Budiyono, Pranawa
and Yuwono, 2021). This report will discuss negotiation and reason for negotiation including
key steps and process. Later REP process will be defined including dynamic pitch.
MAIN BODY
Defining negotiation and determining reasons for negotiation and key stakeholders involved in a
negotiation process:
Negotiation is one of the most critical process in every business organization in which
firm try to match best deal for their betterment, the process of negotiation is important because
firm might consider bargaining to get something from the market (Dratistiana, 2018). It is very
clear that every product and service in the market and higher than usually cost which means firm
need to bring down price of product and meet the requirement of the negotiation process, there
are certain reason for negotiation, these are:
Better deal: This is one of the most important reason why company negotiate for a product and
service, firm try to get better deal according to their estimated budget. Getting better deal is
challenging process, firm might lose the deal just become of minor adjustment. However, getting
better deal require negotiator to carry communication skills, delivery of words and power of
bargaining does matter in the area of negotiation. Better deal only become successful when firm
have ability to adjust their determined goal, firm bring adjustment in bidding and other area to
grab the deal.
Generating profit: One of the major reason for negotiation is to generate profit for the firm,
negotiator need to have those skills and ability to bring better dealing in favour of the company
which means to mitigate any kind of loss occurred in the negotiation process. Many negotiated
deals generate profit for the company. For example; if both party agree on profitable deal then
they might enjoy profit and no party will face loss. Some negotiating deals have ability to
generate surplus profit for the firm which make this reason valid for negotiation.
Key stakeholder involved in the negotiation process: