Pitching and Negotiation Skills Assignment (PDF)

PITCHING

Table of Contents
PITCHING.......................................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Negotiation and key stakeholders during a negotiation process............................................1
M1: Brief rationale for the negotiation process..........................................................................3
P2 Key Steps and Information required for negotiating and generating deals...........................4
M2. RFP process within an organisational context.....................................................................5

TASK 2............................................................................................................................................5
P3. RFP process and relevant types of documentation required.................................................5
P4. Contractual process and ways to manage and monitor relevant documentation..................7
TASK 3............................................................................................................................................8
P5 An appropriate approach for pitching, apply key principles for attaining sustainable
competitive edge.........................................................................................................................8
M3. Examination of pitch and evaluation of process................................................................10
TASK 4..........................................................................................................................................10
P6. Evaluate potential outcomes of a pitch...............................................................................10
P7: Determine ways in which an organisation can accomplish their post-pitch obligations and
potential issues..........................................................................................................................11
M4. Recommendation for Coffee Cuisine to accomplish its post-pitch obligations................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Negotiation refers to process by which groups or individuals resolve conflicts, settle
transactions and carries working agreements (Negotiation Skills, 2018). This aids to settlement
of differences among people. In this both parties tries to identify solution by which both parties
will gain significant profit. Present study has been conducted in, Coffee Cuisine which is newly
start up organisation engage in the service of offering organic coffee to their customers. In this
report discussions has been made on, concept of negotiation and key stakeholder who are
involved in this process. In addition with this, key steps and information which is required in the
process of negotiation and process of RFP are included in this report. Report include, contractual
process and appropriate pitch along with potential outcomes are covered in this report. Lastly
project include potential issue that can occur along with their necessary obligations.
TASK 1
P1 Negotiation and key stakeholders during a negotiation process
Negotiation is a formal discussion in which individuals settle down their differences. In
this method, compromise is reached in order to avoid a argument and dispute. There are mainly
two types of negotiation namely, integrative and Distributive. In the situation of negotiation
stakeholders effectively try to reach out a settlement by settling down their differences. In the
process of negotiation there are mainly two parties involved with a main aim to comprise a
situation in order to avoid any kind of conflict. It is important to have a fair sense of decision by
both involved parties. There are different types of key elements included in negotiation that
include, sense of attitude towards each other, different types of interpersonal skill such as, report
building skills, communication etc. and knowledge required to the topic. Business face
negotiation in their day-to-day operations as they deal with different types of distributors and
suppliers in order to sell their products in supermarkets along with this business firms is required
to do negotiation with their employees in or fix their salary. Mentioned below there is a
negotiation for the company:
It aid in reducing business input cost price which automatically result in raising profitability of a
company.
Business firm can easily bring forward different types of new products which benefits them to
maximise their footfalls in a market place.
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Negotiations effectively helps a business firms to stimulate a healthy relationship with their
related parties.
Reason for negotiation occurrence:
Negotiation plays a key effective and important role in order to increase profitability and
productivity of a company (Gbadegeshin, 2018). Situation of negotiation arise in between a party
when they are not able to decide a outcome and confusion prevailed in a situation which results
in arising difficulties in order to reach a result. Mentioned below are mainly three types of
outcomes that are generated from the negotiation:
Win-win situations: In this form of negotiation, both of the involved parties get equal
amount of benefits.
Win-lose situations: It is a situation in negotiation, when one party get more advantages
in a comparison with other party.
Lose-lose situations: In this situation of negotiation, ended up loosing as they are
delimited by the law.
In context with business firm, basic negotiation elements are mentioned below:
 Situations of negotiation arises in a business firm, when there is a condition to set prices
and measure quality of products with distributes and suppliers in order to get products
and raw materials in less price while gain more profitability.
 Main motive of business firm is to offer new products of various different organisations
through a medium of chain to the consumers.
 Negotiation occur in a business firm when there is a time to renew company deals.
Key Stakeholders in the negotiation process
Negotiation is done by an individual who posses effective and appropriate knowledge of
a product in which they deal in order to grab most impressive and profitable deal for business
firms (Haddad, 2014). Main key stakeholders those who indulge in the process of negotiation:
Top Executive of Business Firm:
These are those personnels who is authorised to communicate business plans and policies
with employees as to effectively guide them to understand their basic roles and responsibilities in
a formative way.
Shareholder Representative:
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Shareholders are those representatives who have authority to provide overall external
support to a company through a medium of investing amount by having a simultaneous hope to
get maximum rate of return on investment.
Mediator:
Mediator is a person who transport informations to employees from top authority along
with other formal instructions and orders.
The other party:
In this section, fundamental governmental authorities are included who have formal right
to existence of an organisation by guiding and informing them to abide all legal legislation and
laws.
M1: Brief rationale for the negotiation process
Negotiation is crucial for every organisation as by this they can enhance their profitability
in context to other firms (Maddux, 2016) . Types of negotiations are shown below:
 Business firms must know about other organisations in terms of financial status, their
strengths and weaknesses. They can formulate their negotiations accordingly.
 They need to emphasise on attainment of their organisational objectives, this will assist
them to attain their aim which will give them competitive edge.
 Business firms needs to have details of discussion and also ensure that what kind of
information can lead to win situation.
Elaborated steps in negotiation process
Preparation and planning: Organisation must possess relevant information which is
required in negotiation stage. Chances to acquire win loose situation are less if organisation is
not ready in initial step of negotiation (Sullivan, 2015) .
Information exchange: People who are involved in negotiation process must exchange
information. This includes project details and info about negotiation.
Bargain: Parties involved in negotiation bargain their profit share so that win win
situation can be attained. In this stage interpersonal skills have crucial role.
Conclude: Profit share and details of negotiations arises when both parties agrees on
certain level. They try to acquire profit by pitching.
Execute: Execution of deal occurs in present scenario and executives make strategies as
per external environment. Impact which is created by implementation needs to be monitored by
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management above them and they need to effectively utilise their resources so that they can
maximise their profits.
P2 Key Steps and Information required for negotiating and generating deals
Negotiation is a time taking and open process in order to reach towards desirable
outcomes (Ting‐Toomey, 2017). In order to resolve conflict situation it is necessary for an
organisation to follow structured approach Mentioned below there is a formative step of
negotiation process along with functional examples:
Preparation and Planning:
It is first and foremost stage in which it is essential for a business firm to analyse overall
factor and formulate best report on a topic as to get best deal. There are some certain steps
mentioned below which is necessary for a business firm to consider while going in a negotiation
process:
 It is necessary to gather every required information of other party product specifications
including their strength, weaknesses, strategies and financial status.
 Proper and adequate knowledge about topic which is required to be discussed.
 Exact pitch related to a deal.
Information Exchange:
At this point in a negotiation process, in which both the parties effectively try to change
each other perspective through a medium of statistics and reports. In this there are some the few
elements that are evaluated in this process by the parties including, credibility, trustworthiness
etc. It is essential for a business firm to utilize proper and correct information as wrong
information can adversely affect company goodwill.
Bargain:
In this type of negotiating situation, parties effectively try to grab a deal of either win-win
or win-lose for this it is important for a business firm to set their objectives in a very crystal clear
form as to take effective outcome form a negotiation. In context with this, shareholder holds a
responsibility to bargain their deal by taking care of their and company personal need and if a
situation arise when the negotiation turn towards affecting company then shareholders should try
to cancel or modify that deal.
Conclude:
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It is a stage in which both of the parties end their presentation by presenting their overall
personal objectives. It is important for a business firm to get a win-win or win lose results as to
aid company to maintain a effective flow of growth.
Execute:
This is the end stage in which implementation of the deal outcome is done on the actual
scenario along with developing strategies as per according to deal. It is important to evaluate
each and every factor of a deal in a very clear way as strategies that are required to be made are
according to it.
M2. RFP process within an organisational context.
Within business firms, it is essential that they create effectual RFP process by which they
can satisfy demands within time. RFP and documentations such as Statement of Work (SOW)
needs to be crafted well, along with essential details of organisation such as goals, objectives,
overview, etc. When selection of vendors and clients are discovered they needs to focus on long
term relationship which are cost effective and can maximise their profitability. This will aid
vendors to work in ethical manner.
TASK 2
P3. RFP process and relevant types of documentation required
Request For Proposal is a formal request or a documentation which is used to invite
proposals from different types of vendors who think that they can effectively provide necessary
products and services to a business firm. RFP is also known as binding document. This method is
utilized by an organisation to allow vendors to showcase their solutions along with a special
benefit which let a issuer to approach provided offerings. Mentioned below there is a process of
RFP :
Crafting Request For Proposal Document: It is important for the business firm to provide
proper information to their vendor which will help them to evaluate a issue which is required to
be addressed. Mentioned below there are few essential factors which is required to be included in
RFP:
 Detailed listing and specification of business firm including their products and services.
 Overall required goals and objectives of company which is required to be addressed.
 Selection of a target market that will provide benefit to project.
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 Required guidelines along with essential factors such as, budget, vendor bids, timeline
and cost breakdown. Proper delivery instructions along with effective selection process of a vendor.
Client Discovery:
It is important for a vendor to formulate effective and proper responses for their client's
actual demand as to make their proposal acceptable.
Short-listing Vendors:
In this process, it is important for the business firms to effectively analyse responses and
extract best vendor who can appropriately address related issue. For this, firm by taking in-depth
comparison of vendors can know the basic strength of each of the vendor and select best among
them.
Follow-Up:
In this stage, business firm is required to analyse shortlisted vendors in order to select one
of the most effective vendor who posses a possible chance to win. In order to fulfil this target in
best effective manner it is important for business firms to ask follow-up questions and then set a
scoring criteria.
Completion of Evaluation:
In this stage, it is essential for a business firm to consider each and every offering made by
vendor by comparing it on side-by-side manner in order to determine the best possible choice.
Contract Awarding:
It is a end step in which business firm is required to select most effective and potential
vendor and further move towards legal documentations which include, providing the outcome of
RFP to legal department, formulating detailed statement of work( SOW) along with overall
reviewing of contract process.
Documentation required for RFP:
Request Request For Proposal Document itself act as a document. In addition with this,
other basic documentation which is essential is Statement of Work( SOW). In this, it is essential
to effectively define the way in which business firm would perform their functioning with
vendors. In order to effectively achieve this, performance metric along with review method can
be utilized.
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P4. Contractual process and ways to manage and monitor relevant documentation
Contractual management is a formative process which is required to consider by a
business firm in order to manage their contract development. This will aid a firm to raise their
operations and financial performance and reduce uncertainties. Mentioned below there are some
key elements which is required to be consider by a business firm:
Identification of the contract:
It is important for a business firm to effectively measure actual reason for actual binding
in which it is essential to consider basic elements like, need, reason, and other ultimate objectives
(Greenwood, 2018). In addition with this other potential risk is required to be determine that can
be occurred during documentation.
Contract Authoring:
It is essential for a business firm to take necessary consults from attorney and In-House
Counsel in a situation of uncertainties. It is also required for a business firm to take advantage of
pre-drafted template. This will effectively aid organisation to keep themselves up to date with
necessary information. In addition to this, company can also take advantage of automated system
on order to perform their functions with ease.
Contract Negotiations:
In this step, it is important to be transparent and trustworthy in order to negotiate
contract. It is important for a business firm to develop an effective positive relationship with
other party as to strengthen firm long term relationship.
Approval of Contract:
It is a stage which is required to be follow after the process of negotiation. In order to
conduct their procedure in best effective manner, business firm by implementing approval
workflow mode in a contractual management can effectively save their possible time and efforts.
Contract Execution:
In order to make a contract effective, it is important for the involved parties to make that
official. In present context, business firm can take advantages of electronic signatures in order to
resolve delay in a urgent situations.
Revision and Amendments:
It is important for a business firm to revise their contracts on a continuous basis in order
to make necessary required amendments.
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Reporting and Auditing:
With the help of regular audit business firm can effectively realise due obligations.
Regular reporting and auditing aid business firms to evaluate required compliance of parties
involved in the agreement.
Ways to manage and monitor relevant documentation:
It is important for a business firm to evaluate and manage their documentation in best
effective way. Firm can take advantage of various technological advancements to order to
manage their documentation in a digital way (Fletcher, 2018) . For this it is important for a
business firm to turn their existing documents into a digital one and utilize other digital
platforms which will simultaneously aid firms to decrease amount of wastage and keep secure
file for any future misshapenness. Mentioned below there are some certain ways with the help of
which business firm can effectively monitor their documentation in a digital ways:
 Naming and securing file in strategical way.
 Synchronisation of documents which is required to be accessed and monitor in effective
way.
 Utilization of proper quality control system that can remain strong in any circumstances.
 Storage of documentations by taking advantage of cloud storage that can be stored even
after get deleted.
TASK 3
P5 An appropriate approach for pitching, apply key principles for attaining sustainable
competitive edge.
Pitch is defined as proposal given by individuals of organisations to capitalist. Medium of
pitch may vary from organisation to organisation, it can be either by face to face interactions,
email or letter. Agenda behind business pitch is to secure resources and funds which are essential
for organisation to enhance their profitability and sustainability within market. For having a
successful business it is necessary to do pitching. This will aid Cuisine Coffee to make sure that
their investors are engaged. It is necessary that new services are launched. They need to identify
factors which ensure them that they can attain high returns in their investment. Cuisine Coffee
needs to apply key principles when they are making pitch. This will aid them to gain competitive
edge within market. It is necessary for presenter to have clear idea about these principles for
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ensuring long term involvement of investors in operations of Cuisine coffee. BARCLAYS Bank
which have their headquarter in London, UK has submitted a request proposal for a small
independent company to run their coffee shop. As Cuisine coffee owner discussions have been
made to expand the new start-up business. Therefore, this opportunity can be seen as
developmental possibility to expend business effectively (Coppens and et. al., 2014). The
principles which will ensure sustainability of Cuisine coffee within market are mentioned below:
Brand Loyalty: In this step, brand loyalty is taken into consideration, this assure long
terms relationship with customers which will be beneficial for Cuisine Coffee. Customers stick
to one brand if they provide quality services, no matter what the prices are. This ensures loyalty
of customers for products. With respect to Cuisine coffee is a new start up, this means that they
do not have customers yet but by providing enhanced services they can retain their customers.
Networking: Cuisine Coffee is a start up in London. So they need to have effective
network with which they can expand their business. Furthermore, they need to have contacts
with suppliers so that they have required raw material within time. They also need to have online
channels by which they can provide their customers with home delivery when they make online
orders. By this they will have strong networks and can reach many people.
Innovation: In present scenario, customers are looking forward for organisations which
are providing innovative services and have unique methods for production and distribution. This
is the critical principle which must be pitched by investor. Cuisine Coffee is a start up and they
have innovative methods which will enable them to fascinate large number of customers by
which competitive edge can be gained. They are offering their customers with healthy options
they have opted for organic products. This means that they are focusing on health conscious
customers.
Effective Employees: It assists in gaining competitive edge within market, this can be
done by recruiting effective and efficient employees which leads to enhancement in internal
strength. Cuisine Coffee needs to have experienced staff by which they can attract large number
of customers. Furthermore, goals of employees are segregated with overall goals of organisation,
this enables them to work together. Channelising and collaboration among employees lead
Cuisine Coffee to have their image within market. These points must be mentioned by presenter
of Cuisine Coffee to make pitch to investors.
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M3. Examination of pitch and evaluation of process
To ensure that process of pitch is successful then they (Coffee Cuisine) need to have
effective and influencing presenter. It is essential to examine pitching process, in this they need
to consider few points, they are:
 Before developing a pitch, it is necessary to identify purpose behind this. This will
provide clarity in strategies.
 It is instant for presenters to have information related with customers or audience, so
that their viewpoint can be taken into consideration.
 Subject matter and content must be selected precisely and it must be accurate when it is
being delivered.
TASK 4
P6. Evaluate potential outcomes of a pitch
To create high influence or impact on investors, presenters will do their best. It
completely depends on abilities and skills of presenter whether they will be able to convince
their investors or not. In case of Coffee Cuisine investor is BARCLAYS Bank and they have to
make pitch in front of them. Pitch has four achievable outcomes, they are mentioned below:
Acceptance: It is necessary for organisations to impress their investors by their
capabilities. This will lead to have enhanced brand image within market by which they can
expand their customer base (Cooke and Zaby, 2015). This will also enable them to have effective
strategies in future. Presenter of Coffee Cuisine can opt for elevator pitch, this will enable them
to give precise information related with them in short span of time. Outcome of this can be either
affirmative or destructive. If investors have cleared the deal, then they may or may not sign no-
shop agreement.
Rejection: Organisations hardly receive clear no from their investors. Investors may not
fascinated by strategies which are formulated by organisation. Another reason for rejection may
be presenter may not be able to create an eye catching experience for investors. Whatever may
be the reason for rejection, but it have negative impact on organisation.
No Response: Sometimes presenters do not receive any answer neither no nor yes. It
creates tension in mind of firm all the time. It leaves impact on decision-making of organisation
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as strategies cannot be formulated when response is not received from investors. For this Coffee
Cuisine can analyse interaction which took place in between investor and presentor.
Come Back Later: When investors hypothesize that there is scope of enhancement from
organisation, then this response is attained. They want that organisation must achieve something
before they are engaged with them. Coffee Cuisine needs to establish some strategies by which
they can attain those milestones. After achieving them, they can contact with investors.
P7: Determine ways in which an organisation can accomplish their post-pitch obligations and
potential issues.
Pitching refers to tool which can be used by organisation to identify root causes of issues
which arises within business (Chang, Benamraoui and Rieple, 2014) . It is essential to resolve
them before they become big trouble for organisation. This aids owner of organisation and
people who are involved in this firm to build strategies so that their functionalities can be carried
out without any kind hindrance. It is necessary for Coffee Cuisine to execute process of pitching
in suitable way, this will lead to have affirmative results by which they can attain organisational
objectives and goals.
Management of Coffee Cuisine needs to evaluate process by which they can acquire their
aspirations. Organisation need post pitching when they need to analyse results of functionalities
they have been performing in past. This endow business and motivate them to attain their
organisational goals. Coffee Cuisine needs to use this method so that they can identify ways in
which they can carry out their operations efficiently. This aids organisation to complete entire
process within stipulated time duration. Coffee Cuisine can have different ways by which they
can execute operations of organisation in appropriate and effective way. Different issues occurs
when pitching is done, they are provided below:
Failing to address concerns: It is necessary for organisations to acknowledge pitching
document so that they can have their own competitive position within market. If these are not
acknowledged by manager then they can have negative impact on organisation and it will
become difficult for them to handle problems.
Projecting wrong image of business: Sometimes management of organisation fails to
project themselves in wrong manner when they are pitching. This may not be done by intention
but it can also be done by mistake. As they might not have relevant information in respective
domain. This will hamper image of Coffee Cuisine and investors (BARCLAYS Bank) will be
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least interested to work with them. This will also lead to decline in funds and investments in
future.
Too much dependency upon formal pitches: Some organisations consider that they can
get money by making formal pitches but it is not true always (Cenere and et. al., 2015). Funds
can also be raised by informal pitches. If Coffee Cuisine wants to increase their investments then
they need to carry out informal pitches. In this case they will appropriately communicate with
investors i.e. BARCLAYS Bank.
Issues which are mentioned above will occur within organisation and will have relevant
impact on functionalities of organisation.
M4. Recommendation for Coffee Cuisine to accomplish its post-pitch obligations.
In this organisation needs to follow up their investors after they have pitched. It is
essential as investors may also need that they need attention. When pitching is done, dates for
decisions are also released. If feedback is not received by presentor then they can ask from client
that if they require any more information in any perspective.
CONCLUSION
From above, it can be concluded that business firms needs to emphasise on development
of negotiation and pitching skills by which they can enhance funding and resources which are
needed for carrying out operations of firm. To have profitable and effectual deals, it is essential
that information is evaluated before presenting it. Organisations need to follow necessary steps
which are required for carrying out Request For Proposals with relevant documentation.
Automated techniques and procedures assists in creation and execution for managing this.
Presentor of organisation need to have principles and skills by which they can gain competitive
edge and create an impact investors. They need to accomplish all obligations when they are
eradicating and identifying possible errors.
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