Negotiation Skills and Pitching Skills
Added on 2020-06-03
13 Pages3788 Words200 Views
Pitching and NegotiationSkills
TABLE OF CONTENTSINTRODUCTION:..........................................................................................................................1LO1..................................................................................................................................................1P1 What is negotiation and stakeholders involved in negotiation process.............................1P2 Key steps and information required in negotiating deals..................................................2LO2..................................................................................................................................................4P3 What is RFP process and types of documentation required..............................................4P4 Contractual process and how documentation is managed.................................................6LO3..................................................................................................................................................7P5 Developing appropriate pitch by applying principles ......................................................7LO4..................................................................................................................................................8P6 Assess the potential outcomes of pitch.............................................................................8P7 How organisation fulfil obligation from pitch..................................................................9CONCLUSION:...............................................................................................................................9REFERENCES:.............................................................................................................................10
INTRODUCTION:Negotiating between parties creates a positive and successful environment that is usefulfor effective working of employees. It is useful in solving conflicts between employees whichhelps in building strong relationship with others. Negotiation can be done in various ways, itdepends upon how a party wants to deal with it. This report will show how stakeholders areinvolved in negotiating process and what information and steps are required in this process. Also,what is request for approval (RFP) and contractual process and documentation required in it isexplained (Canick, 2014). Along with this how pitching principles are applied in negotiation andits outcomes are analysed. Furthermore, how organisation obligations are fulfilled from a pitchand issues that occurs in it are discussed. LO1P1 What is negotiation and stakeholders involved in negotiation processNegotiation is a process of reaching an agreement by having a discussion by partiesinvolved in it. It follows a systematic process in which there are various ways of communicatingwith parties and reaching for a final agreement. For making negotiation between parties it isimportant that person involved in it must possess effective negotiation skills. These skills play avery crucial role in communicating, listening, etc. and negotiating with others. Managers shouldbe expertise in identifying person with these skills so that it is beneficial for Marks ans Spencerto use them. It will also save cost and time by going to a third party for having a negotiation. Italso helps in reducing conflicts and creating a friendly environment within organisation. It isuseful in long term as negotiation done will ensure smooth flow of business operations (Cenereand et..al 2015 ).Negotiation occurs because of disagreement between parties related to any wrong way ofdoing business. It generally occurs between employee and employer due to change in policies orsalary. It occurs when there is more than one outcome in which both parties are interested. So toreach final agreement it is important negotiation must be done between them. It is essential forbusiness to negotiate with others so no issue occurs between them afterwards. For example- aperson wants to sell his car, so an agreement must be made with another individual for1
purchasing a second hand car. It will contain all terms and conditions regrading buying andselling (.Green, Pease and Davila 2016).Stakeholders provides a platform to get involved by acting as a third party. It will bebeneficial for business to use them as tool in this process. Good negotiating skills contributes inbuilding strong relationships with stakeholders. There are several stakeholders involved innegotiation process. Employees- They are the best option available for organisation to deal with negotiation.Employee union can be involved in this process as they are well known about policies andstrategies of negotiating.Customers- Sometimes, negotiation is done with help of customers. They are persons that canbe allowed to participate in process.Government- It is the most common element that is used by business in negotiation process. Itprovided parties an easier way to reach a final agreement. For any company they are the lastoption that remains for negotiating (Fletcher 2018).Directors- It refers to top management that is responsible for developing negotiation strategiesand policies. It consists of a group of people who are experienced enough to deal withnegotiation. Moreover, they possess effective skills which is useful in overall negotiationprocess. P2 Key steps and information required in negotiating dealsFor successfully having a negotiation process it is important that all informationregarding negotiation is known. It will be useful in providing suggestions to parties and othermethods of negotiating. Without having proper knowledge and information it becomes difficultto get involved in negotiation. This hampers the process and results in disagreement betweenparties. Information require in negotiating deals is described below:- Background information- It refers to information related to the main issues for whichboth the parties is disagreed. It is gathered by having research about problem and whichparties are involved in it (Haddad 2014).Goal- Have a negotiation with a defined goal. It means that a goal must be prepared onhow to settle parties. It enables parties to go for a agreement.2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Research on Pitching and Negotiation Skills - Marks and Spencerlg...
|13
|3805
|114
Pitching and Negotiation Skills - Doclg...
|12
|3848
|293
Pitching and Negotiation Skills Solved Assignment (Doc)lg...
|12
|3234
|234
Pitching and Negotiation Skills for King's College Cafelg...
|29
|5889
|263
Pitching and Negotiation Skillslg...
|8
|2062
|23
Pitching and Negotiation Skills within Mark & Spencer : Reportlg...
|14
|3741
|581