Pitching Negotiation Skills

This article discusses the importance of pitching negotiation skills in organizations like Walmart and how it can lead to improved employee retention, customer satisfaction, and profitability. It also explores the potential outcomes of a pitch and the potential issues that can occur during the fulfillment of obligations.

Pitching Negotiation Skills

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1) Determine what is a negotiation, why it occurs and who the key stakeholders are during a
negotiation process.................................................................................................................1
P2) Evaluate the key steps and information required for negotiating and generating deals.. 2
TASK 2............................................................................................................................................3
P3) Explain the RFP process and the relevant types of documentation required...................3
P4) Explain the contractual process and how relevant documentation is managed and
monitored................................................................................................................................5
TASK 3............................................................................................................................................6
P5) Develop an appropriate pitch applying key principles that achieve a sustainable
competitive edge.....................................................................................................................6
TASK 4............................................................................................................................................7
P6) Assess the potential outcomes of a pitch.........................................................................7
P7) Determine how organisations fulfil their obligation from a pitch, identifying potential
issues that can occur...............................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Pitching will defines the overall procedure under the business will present their idea to
the different individual as like the customers, investors and the other connected stakeholders to
make the business relations. It is most effective process through which the business will work
with their potential and encourage the actions and insight of an individual by which they get
attracted towards the product and the served that is liked with the pitching idea. In addition to
this the negotiation will get used by an individual that get associated with the business by which
they get ensure that the settlement in between the parties has performed (Baranowska, 2018).
This report is based on the Walmart that is the largest retailer in World and gets established in
1962 by Sam Walton. This report includes the purpose of negotiation with key stakeholders, key
step required to generate deals and negotiation, RFP process with relevant type of
documentation, contraction process and its relevance, key principles that achieve sustainable
competitive edge, potential outcomes of pitch and potential issues that obligate from pitch.
TASK 1
P1) Determine what is a negotiation, why it occurs and who the key stakeholders are during a
negotiation process
The term negotiation in link with the business is the most sufficient method that permits
the company to get performs the settlement while making the collaboration and the cooperation
by using the different strategy. In context to Walmart, the negotiation skills are more vital and
with that they have gain more benefits and that are as defined below as:
 The Walmart must have ensure that their employee would get retain for the longer period
of time and for this the company will negotiate with employee in terms of salary and for
the rest benefits as well that get provided to the employee.
 It is even more useful to make the affordable relationship with the customer by which the
effectiveness of the Walmart will get more developed.
 The customers also get a lot of benefits from the negotiation as they get the best deal with
more suitability.
There are a lot of reasons behinds the occurring of the negotiation within the business as like
they have a lot of decision making options while operating the daily operation and functions
within the business so as to manage the different situation with more perfection (Blount, 2020).
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It will used by the management department as well so as to communicate with the employee by
which the effective decision will get made by which the future scope of the business will get
enhanced. In addition to this, the employee also gets present the newer ideas that are more
beneficiary for the business so as to get over from different situations and it requires the
negotiation by which the effective and certain outcomes will get accomplished in timely manner.
There are some stakeholders in the business and that all get interlinked with the
negotiation process. As like, the Walmart will get perform the negotiation with the employees in
relate to the argument of salary and all the individual get affected with this process with more
explanation that are as described below as:
CEO: It is the more important stakeholder and get linked with the negotiation process as
CEO have perform the different roles and responsibility thus have the authority to develop the
several policy and strategy for the payment of the employee (Copper-Ind, 2019). Thus, the CEO
is more vital personality in the negotiation process of the employee salary.
Finance manager: It is the stakeholder, as the finance manager control and monitors the
finance related aspects within the business and has played a vital role in the negotiation process.
As the finance will manage the inflow and outflow of business thus organize the different areas
that are related to finance.
Human resource manager: It is an individual or a stakeholder that make sure that all the
employee will easily understand the vision and mission of the company and have motivate the
employee by which their working ability will get enhanced.
Employee: These are the vital and necessary stakeholder of the business as they get managed
the overall process of the business and have uses the negotiation while managing the dispute of
the payments.
P2) Evaluate the key steps and information required for negotiating and generating deals.
The negotiation is an required aspect within the business and it induce more effective
outcomes within the business process and includes key steps that will implement in Walmart
while performing negotiation deals and as defined below as:
 Planning: It is the initial step in which the overall planning that will includes the
gathering of different relevant or needed information as like the investment reports,
productivity reports, financial statements and many others as well (Dinnar, 2019). In this
all the stakeholder or parties that get linked within the process of negotiation will prepare
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their own process to get ensure that the claim will get the relatedness and for this they
have to follow the 360 degree model.
 Ground Rules: It is the rules that get prior before setting the negotiation or as after the
process of planning as in this the time, place, predictable conflicts, potential etc will get
addressed.
 Clarification: It is the step in which the justification will get involved in between all the
parties in which each and every individual will present themselves and express their
understanding in appropriate manner as per their perception for the negotiation. In this
the adequate information that depends upon the perspective of the employee will get
managed in the annual reports and with defines the productivity and retention rate of the
employee (Faff, 2020). In this the information about the CEO and manager of the
company will includes in business opportunity reports and the investments reports etc.
 Problem Solving: It is the step in which the all the parties will perform the bargaining by
which the profit and loss situation will get developed. In which the information will get
presented in between all the parties by which the beneficial outcome will get received.
For example, as the dispute of salary in this the employee will present the different profit
that is gained by the company by offering the better wages that is more related to the
higher retention of the employee while on the other hand, the CEO and the manager will
bargain the salary by presenting the other different benefits that will gain by the
employee except their salary.
 Implementation: It is the last stage of the negotiation process and get related to the final
implementation and finishing of the project. In this the mutual decision will get
developed as according to the negotiation and innovative agreement will get devised.
TASK 2
P3) Explain the RFP process and the relevant types of documentation required.
The RFP is the acronym as Request for Proposal that is the business document and have
includes all the relative information that is required for the particular project and also comprise
the importune bids of the different contractor and helps the business to get attains its goals in
appropriate manner (Gbadegeshin, 2018). There are some key steps that are required to follow by
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the Walmart by which they could achieve their goals with more perfection and that are as defined
below as
Assessment and Analysis: It is the initial process of the RFP process that is linked with
an analyses and the planning of the project and with this the manager of the Walmart will get
agree with the aspect to get increases the employee’s salary and this bring more advancement
within the business (Greenwood, 2018). It is comprehensive steps that get develop the
initialisation of the idea as per the concern of the project. In this step the documentation is more
required to maintain the business case, timeline, budgeting, project plan and others as well.
Development of RFP: It is the next step as after the assessment in which the draft will
get developed of RFP in which the different variable are more essential that will directly related
to the scope, deliverables, performance standard that will further communicate with the investor
to make the bidding. In this step the document will includes the statement, purpose, review
timeline, contractual term and condition etc.
Engagement: It is the step of RFP in which the investor and vendor will make the
suitable interaction with them and be more responsive as related to the particular date. In this
process the direct communication will get processed with all the investor and have circulate the
adequate amount of information by which the long terms investment will get developed. In this
all the queries will get sorted and the documentation of this process will includes the projected
income statements, return on the investments by which the company get the suitable deal.
Negotiation and Contract: It is the last step in which after getting analysing all the
response the negotiation get developed as by decide the prominent investor the Walmart must
sign the agreement based on contract.
It is the process that gets used to draft the business proposal and as defined below as:
BUSINESS PROPOSAL
Objectives
Walmart, has the objective to get enhance the effectiveness of the
scope and with that make more improvements and ensure that get
retain the employee for longer period of time by which the
performance and profitability both get increased (Hora, 2019).
Solution The solution of the objective is that the adequate investment will get
maintain by the company by which the salary of the employee will
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get enhanced more that developed the productivity as well.
Benefits
As the productivity get increases the investor get the better amount
of their investments and with that the working standard will get
improvised.
P4) Explain the contractual process and how relevant documentation is managed and monitored.
In Walmart, it is more essential that the adequate contractual process will get followed by
the business by managing the documentation that will get managed and monitored by which
more security and better benefits get perceived (Kobra, 2019). The contractual process is as
defined below as:
Contract Selection: It is the initial stage that is wide-ranging capacity in which the
company has chooses the suitable option to make more benefits. In this non statutory stock
option agreement will get choose by the Walmart in which the investor gain more profit by
which effective return get attained by increases the valuable options.
Gathering of Necessary Information: It is the process in which the acquisition will get
performed of different information that is more required as before the functioning of contract and
includes the payment schedules, acceptance of proposal, statement of work, budget etc.
Selection of Negotiator: In this the authority participant gets hired to manage the
negotiation to bind the contract in this the company get allowed to make the agreement with the
investor as per the negotiation.
Review: In this stage the agreement will get reviewed by making the effectual
consideration of the terms and condition and then adequate communication get maintain by
which the modification get implied at same time.
Signing: It is the end stage in which the agreement will get signed in between the other
party and the company.
The implementation and the development of the contract are more needed to be in the
form of documentation that will get manages and control with appropriate manner (Krukowski,
2019). It will be performed by managing different ways that are as defined below:
 The business get ensure that the adequate information and data will get isolate by convert
that into the digitalisation as per the convenience.
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 To get manage it more properly Walmart will allot the authority and they furthermore,
access all the needed information.
 The Walmart uses the artificial intelligence, cloud computing to save the data for longer
period of time and that get used according to the requirement.
TASK 3
P5) Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge.
It is more need for the Walmart to get make the pitching to increases the effect of
implementation by which the contract get more secured and safe. There are some principles of
the sustainable competitive edge that is as described below:
Objective Development: It is initial stage in which Walmart must develop the objectives
to get secured the funds by which the better wages will effective surround will get provided to
the employee that helps to developed productivity (Mejia-Arauz, 2018).
Centralisation of Idea: In this the concept will get centralised in which the pitch will get
surround on and in this the Walmart, make the idea through which more return will get collected
within the timely manner.
Presentation Structure: In this the presentation get develop the structure to the pitch and
in this Walmart, ensure that the structure provide the better interest to the employee by whom
their perception towards the company will get enhanced.
Factual Display: In this the company will make available that the different factor that get
associated with the pitch will back u p to maintain the forecast report by which effective outcome
get produced in pitching.
Feedbacks: It is the last step thus in this pitching is related to get secure the deal and for
this the feedback will collected from employee by which company work to cover the loopholes
with that satisfy the need of employee.
There are some principles that get utilised in parallel to these steps and as state below as:
 Ordinary updates of policy
 Suitable functioning relationships
 Successful allocation
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TASK 4
P6) Assess the potential outcomes of a pitch
There are some potential outcomes of the pitching in context of Walmart and as defined
below as:
No response: It is the most relevant outcomes in which the employee didn’t accept the
deal that get offered to them by the company instead of this the employee present different
option to the company and that is not appropriate for the business(Shankar, 2018). Is it is the
outcomes that the company will reorganize the process of negotiation.
Rejection: It is the outcomes in which the employee will not accept the proposal of the
company and in this the business must try to negotiate it with the employee by which suitable
pitching will developed for the future period of time.
Acceptance: In this the employee will get accept the pitching of the business and thus
the company will work forward to their innovative deal.
P7) Determine how organisations fulfil their obligation from a pitch, identifying potential issues
that can occur
The Walmart has follow different ways to fulfil the obligation of the pitch and that get
attained by the obligation of the post pitching by which the company get ensure to get follow the
effective steps by which the probability of conflict will get reduced. In addition to this, the open
ended pitch will induce more modification for the future by which the company get ensured the
pitching in successful manner.
There are some potential issues that get arise in the process of pitching and that must get
accessed by the Walmart that are as define below as:
 Non-accomplishment of goals: It is major issue that the goal and objective will not get
attain and in between this the demand of the employee will get changes on random basis.
 Unfortunate Image: In this issues the investors that get motivates by an employee must
get spread the irrelative information in the market thus the image of the company will
have negative impact (Srisangkhajorn, 2019).
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CONCLUSION
It has been concluded from the above report that the pitching negotiation skills is more
essential for the business as it enhance the working ability and scope of the business by attaining
the suitable deal or agreement with the stakeholders. It is needed that the company must
understand the concept and process of negotiation by which they get associate with the
stakeholder by gaining more profit and in the RFP process will get used that includes the
documentation of the contract that spread more clarity to both the parties.
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REFERENCES
Books and Journals
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.
Blount, J., 2020. INKED: The Ultimate Guide to Powerful Closing and Sales Negotiation Tactics
that Unlock YES and Seal the Deal. John Wiley & Sons.
Copper-Ind, C., 2019. How To Negotiate. Pan Macmillan.
Dinnar, S. and Susskind, L., 2019. The Entrepreneurial World. In Entrepreneurial Negotiation
(pp. 13-40). Palgrave Macmillan, Cham.
Faff, R.W. and et. al., 2020. Pitching Research for Engagement and Impact–A Simple Tool and
Illustrative Examples. Available at SSRN.
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.
Greenwood, A., 2018. Experiences with authentic assessment on two practitioner-focused
business degree programmes.
Hora, M.T., 2019. Beyond the skills gap: Preparing college students for life and work. Harvard
Education Press.
Kobra, S., 2019. Managing Events for the Clients: A Study on Inpace Management Service
Limited.
Krukowski, K.A., 2019. Pitching Power: Increasing Alternatives Through Signals in New
Venture Funding (Doctoral dissertation).
Mejia-Arauz, R. and et. al., 2018. Collaboration or negotiation: Two ways of interacting suggest
how shared thinking develops. Current opinion in psychology, 23, pp.117-123.
Shankar, B., 2018. Tactics and Approaches for Sales Effectiveness. In Nuanced Account
Management (pp. 17-51). Palgrave Macmillan, Singapore.
Srisangkhajorn, T., 2019. The Disruptive Classroom: The Challenge to Integrate Active
Learning. Ubiquitous Learning: An International Journal, 12(3).
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