Pitching and Negotiation Skills

This document discusses the importance of pitching and negotiation skills in business. It covers the development of an effective pitch, assessment of potential outcomes, and how organizations fulfill their obligations from a pitch.

Pitching and Negotiation
Skills

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 organizations 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.
Define the RFP procedure and related all the documentation and follow contractual procedure
which is related with the documentation. Additionally, produce a specific pitch that apply as per
the principle to gain competitive advantages and analysis all the potential results.
TASK 3
P5. Development of appropriate pitch
A pitch is a presentation of business ideas in front of investors to invest money in the
particular projects. Pitch uses by the business to collect fund and resources for business idea. If
the goal is increase to start up cash, the target of the pitch is an investor. In the other organisation
businesses pitch to potential clients to sell out their product. It is highly required to develop
effective pitch for the investor and present organisation in front of them. In the case of enhancing
application of the secured contract within organisation. In this procedure apply all the principles
to achieve all the competitive advantages such as: Objective Development: It is a first stage where follow all the procedure in systematic
manner of set effective objectives. In relation of Rowlinson Knitwear has keep funds
secure to achieve better atmosphere for the business activities and increase pay scale of
staff members in order to set objectives that must be influenced to assure about the
greater productivity. Centralisation of idea: After set the particular objective regrading to new business idea
in relation of centralise overall concept that around the entire pitch would be enclosed
upon. In relation of small business, the effective idea that could be centralised as per the
higher returns and achieve within qualify period of time (Baranowska, 2018). Presentation structure: To present pitch in front of customer use graphical presentation
that must have an suitable framework which serves the objectives. Such as Rowlinson
Knitwear, the framework must be presented effectively that easily influence to invest in
our project and present all the key points to easily understand all the activities regarding
business idea. In the presentation highlight best interest of the staff members that would
supports them in inducing positive mentality regarding to business idea.

 Factual display: In the require a business effectively and essentially assure about all the
elements that pithed must be backed up through factual displays like predicted reports, to
assure effectiveness in the pitching.
 Feedbacks: In the last step pitching required to secure about presented deal. There is
required to take feedbacks from the staff members that would be enabled the organisation
is determining the loopholes and work do as per the requirement.
Hence, there is required to assure about the compliance of staff members. There are
different principle that would be used alongside the steps are discussed below:
 Updated policies on daily basis.
 Good atmosphere for working relationships
 Effective delegation
4 p's of negotiation:-
 Purpose: According to this for conducting any negotiation aim is essential otherwise it
will lead to wastage of money, time and manpower.
 Plan: In respect of this factors it refers to main agenda at which particular negotiation is
based on in order to carry out particular work (Lussier and Kimball, 2019)..
 Pace: According to this, major points should be covered in the discussion. Along with
this it is also need to take proper break while conducting discussion in order to develop
and maintain interest of people or others.
 Personalities: In respect of this factors a person must have appropriate personality for
negotiation it means they have effective convincing power, communication skills and so
on because through it they able to influence other effectively.
TASK 4
P6. Assessment of potential outcomes of a pitch
A pitch is a presentation of a business idea to the potential investors. It is source of
attracting resources for the business purpose. If the ideal is to start new business then the target is
the investors. Other businesses pitch is to have a good customer to sell their product. These pitch
can be rejected or get no response and be accepted by the investor according their needs and
preference.
 No Response: When the management team propose their business idea, investor give no
response to it. Sometimes they are too busy with their schedule or they are not interested

in the proposal. Customer does not get any response for their presentation. Investor give
no response for insufficient presentation of business ideas or lack of innovate ideas in the
proposal. If this become a result so there is required to focus on the reschedule in relation
of negotiation procedure.
 Rejection: Investor rejects the business idea because they don't like the idea behind the
project or they have better proposal lined up from different clients. Where customer
sometimes, reject the product without even trying out first. They don't even consider the
product introduce to them without taking opinions of other customer (O'brien, 2016).
 Acceptance :This is situation where investor accept the proposal because of the good
quality of resource. Customer chosen product which are in demand and fulfil their need
on time. Customer go with the latest trend in the market for the product and service.
Investor choose their investment which are profitable for them in long run. When investor
see good business ideas which will fulfils the needs of its customer.
P7. Determination of how organisation fulfil their obligation from a pitch
There are different ways for the Rowlinson Knitwear could fulfil their all the
responsibilities regarding to pitch. In the case of small business, it would be achieve by post to
pitching all the responsibilities. It is most necessary for the business to assure about effective
follow ups, that would decrease the possibilities of a potential disputes in future. Moreover, an
open ended pitching with regards to flexible amendments in future in which would safe the firm's
pitching in efficient way.
Therefore, there are different issues that could likely raise in the procedure, which are
necessary to be analysed by the business. There are defining as follows: Non accomplishment of goals: It is one of the critical issue that face by business in
relation to continue the procedure would be that the goal is fundamentally not achieved.
It become cause of when demands of staff members would keep on fluctuated over time. Inappropriate image: It is another problem that face by the organisation in relation of the
investors taking. So as the purpose encourage to staff members might send wrong text in
the market, hence, building an ineffective image. Failing to concern: It is important for every organisation to present concern regarding to
pitching document as it required to sustain in the competitive atmosphere. In relation to
manager fail to outline all the results that can in negative manner that impact on the
capacity of organisation with particular issue (Loboda Ostrovskyi and Katernyak, 2018).

 Very much dependency on formal pitches: There are few shareholders of the business
though that through pitch only raise fund for the particular business idea through the
formal pitches. It is not right way to collect fund from stakeholders through informal
pitches. In the context of Rowlinson Knitwear are wanted to increase investment
activities so that time business can required to connect with the informal pitches where
they are interact with their investors effectively.
As per the above issues analysis in the context of company and analysis the ability due to
effective operation to present all the operational activities. Along with this there are various
issues and challenges faced by small and medium enterprise while conducting pitching at a
marketplace such as they are not able to estimate resources which they required while operating
in effective manner. They also get under estimated when go for pitching or convening because
people think that SME's are new in marketplace so they have less experience so they not able to
conduct or operate effectively. Due to this reason SME's also have very limited investors and
stakeholders as well as when they go for pitching people started negotiating with them (Sullivan,
2015).
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 to get better deal from
the investors. 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.

REFERENCES
Books and Journal
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.