Pitching and Negotiation Skills: Key Principles for Sustainable Competitive Edge

Pitching and
Negotiation skills

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1. Define negotiation, why it occurs and the key stakeholders during the period of
negotiation process.................................................................................................................1
TASK 2............................................................................................................................................3
P2. Discuss in detail steps that organisation required for the negotiation process and
information required in preparation........................................................................................3
TASK 3............................................................................................................................................4
P3. Discuss the RFP process and outline key documents required........................................4
TASK 4............................................................................................................................................5
P4. Discuss contractual process and key documentations required and how they managed and
monitored................................................................................................................................5
TASK 5............................................................................................................................................6
P5. Write the appropriate pitch and the key principles to achieve sustainable competitive edge
................................................................................................................................................6
TASK 6............................................................................................................................................7
P6. Recommend potential outcomes of a pitch......................................................................7
TASK 7............................................................................................................................................7
P7. Discuss the post pitch obligations and highlight the potential issues that can occur.......7
CONCLUSION................................................................................................................................8
References:.......................................................................................................................................9
Books and Journals.................................................................................................................9

INTRODUCTION
Pitch is considered as a business plan that was presented verbally to create more sales and to
gain the potential interest of the investors for the business regarding the particular product or
service. It is imperative part by which organisations make their clients aware and compare them
for the adequate actions (Gianiodis, Markman and Espina, 2017). Basically pitching and
negotiation skills are important in today's organisation to win new contracts and customers on
the basis of some agreeable conditions. Organisation considered negotiation and pitching is
essential in order to support in the managing entire business process and to drive the innovation
in the work force. The present report is based on Marks and Spencer top most clothing brand
along with retail firm. The forth will explain negotiation and the key stakeholders during the
negotiation process along with the steps required for negotiating. The report also outlined the
RFP and contractual process and relevant documentations required for processes. Report will
develop appropriate pitch by applying the key principles of sustainable competitive advantage
and then analyse the potential outcomes of the pitch and the obligations from the pitch by
identifying the potential issues that can occur.
MAIN BODY
TASK 1
P1. Define negotiation, why it occurs and the key stakeholders during the period of negotiation
process
Negotiation
Negotiation is an appropriate process by which organisation resolve their differences and gain
benefits from an individuals and collective as well. In an organisation business negotiation is a
systematic process between the two parties each with its own viewpoints, perspectives, needs
and aims trying to discover a common solution or ground to reach an agreement where both the
parties settle a matter at a mutual concern in order to resolve a conflict and exchange the values.
Basically negotiation is a way to resolve the differences and disputes by reaching to a mutual
agreement (Pitcher, 2019). For the negotiation process negotiation skills are important in a
business during day to day interactions and format transaction negotiated and conditions like
legal, contracts, service, delivery lease, sales etc. A good negotiator with efficient negotiation
skills helps the organisation to significantly resolve the dispute for the business success.
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Reasons behind Negotiation
In an organisation negotiation is known as a compromising situation among the individuals
under the particular issue or a dispute that can arise while running an organisation. Generally
negotiation occurs during the buying and selling of products and services or during decisions
regarding the legal contracts or leases. Some of the reasons due to which negotiation acres are
discussed below:
 To resolve the conflicts or disputes: finding the solutions of the disputes in an
organisation is the main reason behind the occurrence of negotiation process because
conflicts can create a several kind of situations that can lead the organisation to loss.
Therefore in an organisation it is very important to find the proper and appropriate
solution for the critical and complex situations which can be a barrier for running an
organisation. Marks and Spencer always consider negotiation process while allocating
their works among their employees or to make a deal and optimise the resources during
the operations at the workplace because negotiation helps the organisation to take a better
decisions for resolving those issues in a well manner and to achieve the set of goals or
targets by utilising the available resources.
 For creating win- win situation: in order to settle down the problem in more efficient
manner negotiation and pitching skills are required within the form as this is effective in
helpful component that supports suitable actions which can create a possible situations
for the Marks and Spencer like Win-Win in the organisation. As this provides benefits to
every individual involved in the negotiation process by making the favourable decision.
 Different behaviour and perspective: there are the number of workers and employees in
an organisation with different mindsets, behaviour, nature and viewpoints become a
major reason for the negotiation in an organisation. In order to promote diversity of
behaviour and to boost the morale of employees negotiations process bring the mutual
agreement between the employees that helps the organisation in increasing the
productivity and make them feel motivated and valuable in the workplace. The manager
of Marks and Spencer find negotiation process as a most edited process to resolve the
dispute between the Employees with different mindsets and to make the employees
understand each other’s viewpoints with the help of negotiation skills (Dinnar, and
Susskind, 2018).
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