Pitching & Negotiation Skills

This article provides insights on negotiation, RFP procedure, and contractual process in small businesses. It discusses the key steps involved, the stakeholders, and the documentation required. Learn how to effectively pitch ideas and assess potential outcomes.

Pitching & Negotiation
Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Negotiation, its occurrence and stakeholders........................................................................1
P2. Evaluation of key steps and information..............................................................................3
TASK 2............................................................................................................................................4
P3. RFP Procedure and documentation required........................................................................4
P4. Explanation of Contractual process and management and monitoring of documentation. . .6
TASK 3............................................................................................................................................7
P5. Development of appropriate pitch........................................................................................7
TASK 4............................................................................................................................................9
P6. Assessment of potential outcomes of a pitch........................................................................9
P7. Determination of how organisation fulfil their obligation from a pitch...............................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Negotiation is an activity where two or more parties come together to sign an agreement
for mutual benefit of both the parties. Strategically, business organisations and corporations have
to negotiate in several devises areas of the organizational conflicts (Gbadegeshin, 2018). Pitching
define as a procedure where suitably and effectively present all the ideas in the context of
business procedure to various people like investors, customers and other related stakeholders. It
is effective procedure which can work in effective and enough potential to instil a positive
mentality and behaviour of individual regarding to products as well as services in respect to idea
or offering pitched. In the business negotiation it is mainly applied by the company to achieve
strategic advantage in market. Both the skills essential for small business to providing advice and
mentoring business activities. In this report consist of analysing of negotiation and related
stakeholders, along with analysis different steps for the negotiation procedure and collect all the
relevant information.
TASK 1
P1. Negotiation, its occurrence and stakeholders
Negotiation is an operation between two or even more people experiencing difference of
concern and recognizing that they are interconnected, finding an alternate solution to remove
their difference and thereby establish, sustain and create a strong partnership between them. In
the context of small business, this procedure is abjuratory to develop to be creative in the
organisational procedure mainly in the selling procedure. Contract agreements are often
performed for the intention of agreement creation, developing organizational teams, contracting,
buying contract, purchasing and selling suppliers, renting property, etc. In the context of small
business such as successful business negotiation was conducted in between Walt Disney
company and Lucas films where after discounting for one and half years, Disney finally required
Lucas films (Greenwood, 2018).
 The company would be able to properly make sure larger utilization of labour force by
properly negotiating wage and other suitable advantages for employees.
 With the help of negotiation, it could effectively assure about the better and effective
relationship with clients.
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 Additionally, effective deals could be related through investors as well as customers by
practising negotiation.
Nonetheless, there are many explanations why negotiations may take place within small
businesses. The first reason is related with the fact that apply in particular situation in the context
of daily activities of the business. In which has more than one decision that select from. For this
necessary to management discuss that require to spread out the scope to making effective
decision. Moreover, different ideas are pitched each day through staff members in case of
company that could be quite advantageous for particular a party bot not more than others. In this
require suitable negotiations as to whether an efficient and middling result could be attained.
In fact, there are many important actors inside the company that are involved with the
planning process of negotiation. Such as, procedure of negotiation within Rowlinson Knitwear is
connected by negotiating with workers regarding to salary dispute (Gianiodis, Markman and
Espina, 2017). Hence, people related with particular scene through proper justification are
discussed under: Chief executive office (CEO): It is one of the important prominent stakeholder which is
related with the negotiation procedure is the CEO of a company. It is because they are
liable for the authorisation different approaches, workers payment scheme and so forth.
Thus, they would be essential foe each person within negotiation of salary to the staff
members. Finance manager: It is another stakeholder that related with the finance department and
authorise for all the financial activities within organisation. In the context of individual
negotiation present as a outstanding role in case of negotiating with staff members as to
where the finances are circulated and for this require all those areas require more work
from the workers. Human Resource Manager: They are assuring that all the workers understand about the
firm activities and different perspectives that would work to encourage them regarding to
work and effectively settle for the same.
 Employees: It is quite important as important stakeholder group where over all procedure
would be completed and applied in case of negotiating with staff members in order to sort
out pay disputes (Fletcher, 2018).
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P2. Evaluation of key steps and information
Negotiation is important aspect to conduct any deal where necessary to understand all the
terms and apply within small business. Negotiation is an open process for two parties to arrive at
acceptable solution to a conflicts. In today's market, small business faces such difference due to
different opinions of both the parties. The procedure of the Negotiation plays significant role
where all the staff members can communicate with other parties effectively as well as seniors. In
this type of business activities focus on the effective skill which is utilised by the individual by in
which they can take involvement in the process on decision making. In order to assure about this
effectiveness to follow procedure. There are five steps of the negotiation process:
 Preparation and planning: This is a first step in the process where all the information
are collected to have effective negotiation. Here small business gather the information
about the people involved and specifics the agenda before planning. Sets of talk can be
powerful in negotiation and help in adding validity to the topic of discussion. Parties
should be aware about the nature of the conflict, history involved in and different
perceptions of people. Such as productive reports, investments reports are related with
all the parties regarding the negotiation which is required to prepare effective manner
and assure about the validity and related to all the claims. Most of the parties follow the
360 degree approach effectively. It is a important step where all the staff members as
well as firm make a suitable plan in order to conduct effective negotiation practices
(Sleeman, 2019).
 Definition Of Ground Rules: Under this phase, where management team develop the
foundation of the agreement by addressing the issues, forms rules and procedures for the
planned negotiation. Information is shared with other party to explore the option
available for the both of them. The terms of the partnership are reframed until both
parties agrees with each other. Thus, it would identify all the areas like place, time,
chances, related disputes etc. It is important part of this procedure where take specific
time regarding to pitching and explain all the important rules which is related with the
staff members and management.
 Clarification and justification: In this step consist of justification as well as
clarification from the both parties in effective manner. There is required to justify all
the perspectives in regard of perception as well as causes for negotiationg. This is a
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stage that which a discussion need to take place regarding the specifics of the job. Each
of the parties will explain the information , justify it and support it with documents.
Here it is important to inform each other about the issues and demand of the projects.
There are justify all the perception which is related with the specific candidates
(Wiener, 2017).
 Bargaining and problem solving: According to this step, all the parties related with the
bargaining procedure in effective manner and another relate with the win lose situation.
Bargaining is where, give and take happens. For maintain the interest of both parties
bargaining is done. Here negotiation is done to have a win-win outcomes for each party.
Suggestion of alternative strategies are discus within the parties so that each one is
considered important in the agreement. Further problem is solved regarding the terms of
agreement. Such as, in the case of salary conflicts presented and focus on this so all the
staff members would show all the information in case of how the business advantageous
to supply higher wages to relate with the anticipated projections. While the manager and
CEO would be bargaining with the staff members in the context of long relation that
beneficial in which they might acquire. From the different aspect is denoting the major
term for which negotiation and pitching process are started by both the parties.
 Closure and implementation: This is a final step in the process, agreement that can be
worked out and developing a procedure that can be needed for implementation. Here
promises is followed up to strengthen the relationship and to build trust. This stage may
also viewed as a preparation for the next agreement for the parties. It is the final step
that define acceptance of both parties towards each other (Loboda, Ostrovskyi and
Katernyak, 2018).
TASK 2
P3. RFP Procedure and documentation required
Requested for proposal (RFP) defined as suitable business document that provides all the
detailed information regarding to particular projects along with request bids from different
contractors. So it could supports them in business operations and achieve the same in effective
way. Hence, there are many steps that related with the small organisation such as Rowlinson
Knitwear is focused on these steps to achieve effectively. These are discussed below:
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 Assessment and analysis:
It is a first and important step of RFP procedure is related with a particular evaluation and
planning about over all project. As per the scenarios focus on the case manager of Rowlinson
Knitwear accept to spread out the wages of staff members. For this require to additional amount
for the investment. Therefore, in this step would be comprehensive for effective improvement of
the fundamental though in relation of the particular project. Thus, in this procedure, required
certification in the context of project plan, budgeting, business case, timeline etc.
 Development of RFP:
Due to assess all the requirements and other important planning variables. So in this step
connected with drafting the RFP that would be oriented for the scope, performance modular,
transferral, that could be discussed on some investors for future bidding. For documentation in
relation of this step would be inclusive of statement of intention, contractual approaches and
status, analysis timeline etc (Dinnar and Susskind, 2019).
 Engagement:
In the context particular stage, the RFP is discussed with the different vendors as well as
investors to submit and analysis responses that would be required on a particular date so after
complementation on particular window. Such as, in this step necessary one on one conversation
with particular selected investors. In case of provide all the reliable information them why they
should effectively invest in the particular firm for long time plan. Moreover, the particular step
witness getting responses after clarify all the doubts. The documentation in this step would be
related with budgeted income statement and return on investment that supports to business to
crack best deal.
 Negotiation and contract:
In the end determine all the reviews and particular step connected with negotiation in
relation of highest biddings. Additionally, after analysing all the prominent investor, the
company would be ready to sign on the agreement with the investor as per the contractual basis.
Furthermore in the procedure necessary drafting of a business proposal that mentioned
underneath:
BUSINESS PROPOSAL
Objectives Rowlinson Knitwear, in case of effectively and suitably increase the
scope for development regarding to business. For this required to
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assure about high retention of their staff members as well as larger
productivity as well as profitability (Nixon, 2018).
Solution
A good solution for particular objective in the context to gather all
the relevant information regarding to funding and investment, to
increase their wages and assure about higher productivity.
Benefits
Through greater productivity, the investors would be achieving
higher return on their investment, due to increase profitability for
effective working standards.
There are defined some elements that consist of in the RFP document that are discussed
underneath:
 Defined overview of Rowlinson Knitwear consisting its procedure and its services and
products that they serve.
 Present all the projects objective.
 Target market place in order to achieve all advantages
 Requirement of project with proper guidelines
 Define major element and project specification
 Factors impact on the bidding of vendors like budget, cost break down and many others.
P4. Explanation of Contractual process and management and monitoring of documentation
In the context of small organisation such as Rowlinson Knitwear, it is required to follow
contractual procedure in order to manage and monitor of documentation that offer the business
with specific advantageous and for better security. Hence, there are discussed contractual
procedure which is explain as under: Contract selection: It is a first step where defined about different type of contract in
which a firm is take interest to select and get maximum advantages. Rowlinson Knitwear,
is analysed different alternatives then select non statutory inventory option contract.
According to this agreement the investor would be achieving effective advantages and
higher returns in order to increases different value alternatives.
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 Gathering of necessary information: In this procedure consist of suitable acquisition of
required information before application of the agreement. Hence, in relation of structure
of work, payment schedules, budget, acceptance of proposal etc. Selection of negotiator: Due to authorise signatories are recruited, after enter into the
negotiations in the context of binding agreement. It would enables the company in
relation of discuss with the investors for the payment contract (Rakin, 2017). Review: This step related with suitable revaluation of the contract in order to analysis all
the terms and condition regarding to final contact. Therefore, any variation is discussed
quickly and the agreement is improved according to the same.
 Signing: At the end of last step in relation to signing the final agreement in between the
company and other investor party.
Therefore through improvement and application of an agreement, it is highly important
for the certification is arranged and observed in systematic way. It could be done by different
ways that discussed below:
 The firm must assure about the particular information which is isolated effectively by
converting them in digital format, where required.
 Furthermore, for effective management and observe, the firm also could delegate
particular authorities that would be having full authorisation to collect all the relevant
information.
 Through advanced technologies such as cloud computing as well as artificial intelligence
like different data must be collected in several collection as per the requirement to assure
about the better management (Santonen and et. al., 2019).
Apart from this some another process is discussed below:
Contractual procedures have different aspects that can use for design as well as assure
about organisation in order to achieve an effectual process from the negotiation procedures.
Whole these involves research the business as well as legal backgrounds fro contract an propose
transactions and business relation where contract is to be consumed. Another step, performing
with required representatives of respective firm in attaining the set contractual project.
CONCLUSION
As per the above report it has been concluded that pitching and negotiation is most
important for any business that effectively and suitably improve the scope and modify in relation
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to get better deal from the investors. It is essential to analysis the concept of negotiation and their
purposes related with stakeholders in the same manner. Furthermore, understand all the
important steps as well as information which is related with the negotiations in effective manner
and increase the scope of developing effective situation in positive way. Additionally, define the
procedure of RFP which is documented and contractual procedure are important then applied
within entire firm. At the end, it is essential for a business to build up an effective pitch and
analysis all the results and analysis different ways in which it could execute it responsibilities by
pitching.
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REFERENCES
Books and Journal
Baranowska, J., 2018. Creativity in managing innovative education based on the Smart-Up Lab
program and Project Based Learning method. World Scientific News. 104. pp.90-101.
Dinnar, S. and Susskind, L., 2019. The Entrepreneurial World. In Entrepreneurial
Negotiation (pp. 13-40). Palgrave Macmillan, Cham.
Fletcher, D., 2018. Looking to the future: how can we further develop critical pedagogies in
entrepreneurship education?. Revitalizing Entrepreneurship Education: Adopting a
critical approach in the classroom.
Gbadegeshin, S. A., 2018, November. Commercialization Skills: Necessity for High Technology
Entrepreneurs in Digital Era. In Proceedings of the Future Technologies
Conference(pp. 965-975). Springer, Cham.
Gianiodis, P. T., Markman, G. D. and Espina, M. I., 2017. TO INVEST OR NOT TO INVEST:
UNDERSTANDING THE ENTREPRENEUR-INVESTOR-VENTURE (EIV)
NEXUS. Frontiers of Entrepreneurship Research, 37.
Greenwood, A., 2018. Experiences with authentic assessment on two practitioner-focused
business degree programmes.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Loboda, V., Ostrovskyi, I. and Katernyak, I., 2018. Developing Entrepreneurial Mindset in
University Undergraduates. E-methodology, 5(5), pp.114-131.
Lussier, R. N. and Kimball, D. C., 2019. Applied sport management skills. Human Kinetics.
Mentor, B. and Trainer, S., Michael Farrell.
Nixon, P., 2018. The Business Developer's Playbook: Relationship Selling Principles and the
DNA of Dialogue Selling. Productivity Press.
O'brien, J., 2016. Negotiation for Procurement Professionals: A Proven Approach that Puts the
Buyer in Control. Kogan Page Publishers.
Rakin, A. S., 2017. Effectively pitching 3600 marketing services to clients.
Rich, C., 2013. The Yes Book: The Art of Better Negotiation. Random House.
Santonen, T. and et. al., 2019. CityDrivers-Easier selling and buying of creative competence.
Sleeman, D., 2019. Experiential Learning, Entrepreneurship and Enterprise: Designing
Learning. Transformations in Tertiary Education: The Scholarship of Engagement at
RMIT University, p.213.
Sullivan, G.R., 2015. Leadership Development in the Workplace. Leadership and Women in
Statistics, p.259.
Tse, J., 2013. Pitching your ideas to senior management. Training & Development, 40(6), p.11.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to Get,
Set, and Keep the Fees You're Worth. Kogan Page Publishers.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to Get,
Set, and Keep the Fees You're Worth. Kogan Page Publishers.
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