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Study on Pitching and Negotiation Skills

   

Added on  2020-06-06

12 Pages3797 Words49 Views
Pitching and NegotiationskillsTable of Contents

INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Negotiation and key stakeholders associated with the process........................................3P2. Key steps and information needed for negotiation and processing deals........................4TASK 2............................................................................................................................................5P3: RFP process and types of documentation........................................................................6P4: Contractual process and documents used to manage and monitoring..............................7TASK 3............................................................................................................................................9P5: Development of key pitch through using principles in order to attain sustainable benefits.9TASK 4..........................................................................................................................................10P6: Assessment of potential results in pitching....................................................................10P7: Examine the ways in which organisation can fulfil their obligation from a pitch.........11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTIONPitching is generally known as a business strategies. It is a form of an entrepreneur orteam that are presenting their ideas to prospective investors and other shareholders. The primaryaim of pitching deals with creating business opportunities with the motive to secure idea forattainment of certain objectives. Whereas, negotiation requires certain specific contracts andpolicies on agreed terms. These capability is essential for managing and operating a smallbusiness. Being a dynamic aspects an innovative workforces needs to work according to setstandards (Adrian, 2011). This project report provides crucial information about negotiation and key stakeholdersassociated with this process. Explanation of RPF process and types of papers are required to doso. Understanding of contractual procedure and effective aspects to manage crucial documentsare included as well. Examination of vital principles that are helpful in order to attain asustainable competitive edge for a particular company. Assessment of valuable outcomes thoseare crucial in relation to pitching and ways through which they can face their obligation toattain proper growth.TASK 1P1. Negotiation and key stakeholders associated with the processIn any business organisation, it has been seen that during any new policies which isformulated by the owners of company, there are certain obligations. Some employees are agreedupon that and few of them are dis-satisfied. In order to resolve queries of employees andmanagement they need to conducts a negotiation procedure. This is said as a formal discussionamong people who have various aim or goal those are mention under an agreement.Negotiation is a process in which two or more than two people exchange something andtry to agree upon the rate of exchange. This would be done after mutual understanding of boththe parties on a given problem. Like it was mentioned under the case of departmental store ofMark and Spencer. They are facing a problem which is associated with rise in salary toemployees. In order to resolve this particular issue, managers have decided to take support of theHR department (Cremades, 2016). 3

A stakeholder is known as one of the crucial parties that is associated with the businesseither directly or indirectly. They are known as valuable persons or group members that haveinterest or stake in the operations of an organisation. Some of them are:Investors: They typically have the power to analyse financial information aboutcompany’s performance. They have the right to approve or reject crucial decision. Theytake active participation in the negotiation process to resolve issues of employees.Creditors: They have the power such as accessibility to timely analyse financial data ofMark and Spencer. In a negotiation practice formulated in between PA and teammanagement to make payment of amounts within the set time frame.Trade unions: It is the primary role of trade union leaders to make decision in the favourof workers so that they can work in an effective manner. Like it,was mention in the caseabout working hours (Tenenboim-Weinblatt, 2011).Employees: They are one of the key persons in stakeholders because they arecontributing more to increase profitable business concern. In the mentioned case, they arefacing salary issues. It has been related to raise in salary up-to 10% of total amount.They management had make negotiation process to analyse their performance and skills.Partners: Some of them are related with distribution partners. They actively participatein the negotiation process in order to generate effective results in favour of both parties.P2. Key steps and information needed for negotiation and processing dealsIn order to reach at some perfect solution, they need to solve problems that arise in anorganisation. It is the primary role of managers to make proper analysis about crucial aspects thatare presented in between employees and management. Negotiation process deliver the overallinteractions of every people in a groups and any business organisation. According to thementioned case of Mark and Spencer, problems of salary and time issues can be solved throughusing right process. It is crucial for both the parties to come together during time of negotiation.There are mainly five processes that are involved in the negotiation process. These arementioned underneath:Preparation and planning: It is the initial stage in negotiation process in which bothparties will conduct and accumulate essential information to have proper negotiation. They needto get ready by keeping every evidence ready with them. Information must be effective enoughto gain trust of the owners and include validity to claims. According to mentioned case of Mark4

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