Preparation and Management of Negotiation Processes for Small Business Management Firms

Unit 44: Pitching and
Negotiation Skills

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK A...........................................................................................................................................1
Introduction............................................................................................................................1
Negotiation in a business context...........................................................................................2
Chief phases for negotiating and securing deals....................................................................2
Main stakeholders in negation and their importance..............................................................5
Tendering for contracts...........................................................................................................5
Concise rationale for negotiation process including phases of negotiation and information
required in the process............................................................................................................6
Preparing for negotiation process with request for proposal form and related documentation6
Formal response to RFP through business proposal...............................................................7
Explanation of the contractual process along with information about management and
monitoring suitable documentation........................................................................................8
Application of RFP process in context of company with information about required
documentation and outcome of breaching agreement terms..................................................9
Conclusion..............................................................................................................................9
TASK 2............................................................................................................................................9
A. Pitch...................................................................................................................................9
B. Essay about pitches..........................................................................................................11
Ted Talk................................................................................................................................14
CONCLUSION..............................................................................................................................16
REFRENCES.................................................................................................................................17

INTRODUCTION
Business firms have to deal with various situations which require negotiations such as
business mergers, acquisitions and conflict management. In addition to this in order to secure
investment, developing an effective pitch is an essential task which helps business firms acquires
capital (Medeiros, Urtiga and Morais, 2017). The present report includes guidance document on
preparation of negotiation for small business organisation. The guidance document involves
information about negotiation process, stakeholders in negotiation process, RFP proposal and
business proposal in response to RFP documentation. In addition to this a pitch for the Cif Anti-
bacteria and shine, which is an award winning cleaning and disinfectant product, is provided in
this report. A critical essay in context of a business to business negotiation over pitches is given
in this report. This includes negotiation approaches with suppliers, metrics for assessment and
risk management approaches for suppliers. A discussion on physiological techniques for
handling highly stressful situations such as negotiations is provided in this report.
MAIN BODY
TASK A
Introduction
This guidance documentation focuses on various aspects and written material required for
preparation and management of negotiation processes for small business management firms. The
small business organisation selected for the present report is Email Hippo Limited which is a UK
based small business firm established in the year 2015. Email Hippo supplies cloud based email
verification and data intelligence services for business firms globally. The company received the
Queen’s Award for enterprise for the innovative API services provided by the company which
improve communication and protect consumers from fraud (Email Hippo, 2021). The guidance
document describes negotiation processes and chief phases of negotiating and securing deals.
The importance of main stakeholders in a negotiation process is identified in the guidance
document. The processes of tendering along with ways of attaining the most profitable deals are
provided in this guidance document. Preparation of RFP document and response business
proposal along with negotiation monitoring practices is provided in this part.
1

Negotiation in a business context
Negotiation is defined as the process in which two or more parties with different goals
have discussions on a common issue in order to identify solutions which is accepted by every
member of the negotiation processes. In context of business firms negotiation processes is highly
important because it helps in building better relationship with external parties such as clients,
shareholders and investors of the company. This is because negotiations are able to create a path
in which the company and external party they are dealing with gain benefits in the end. In
addition to this negotiations play an important role in reducing conflicts in the firm (Stage,
2020). This is because negotiations helps business firm create a common path for success when
they work with external parties which results in total collaboration and coordination from their
side, this reduces possibilities of conflict. In case of internal conflicts, business firms are able to
negotiate a deal between employees which is beneficial for them and the company. This is
specially helpful for small business firms as delays and disruption caused by internal conflict
affects continuous progress of the company and is danger to long term survival of the business
firm.
Chief phases for negotiating and securing deals
The negotiation processes consists of various phases and is complex because the aim of
this process is to ensure that all the parties involved in the conflict leave with satisfaction as the
long term solution of a common barrier faced by negotiation members is identified. This
increases the complexity of the processes as perspectives and expectations of every member
participating in the negotiation needs to be taken into account in order to gain the most effective
outcome. Small business firms such as Email Hippo have to negotiate with investors in order to
seek capital required for expansion of business activities. The various phases of the negotiation
processes are provided below:
Preparing for the negotiation
The first phase of the negotiation focuses on preparing documentation and other
necessitates for smooth functioning of the negotiation so that the negotiation processes is
documented in a destalked manner (Yu, and Wu, 2021). This phase involves determining the
time and area of further meetings between the parties involved in the negotiation processes. The
documentation which contain facts, negotiation practices and summarise current positions of
both the business firms in relation to the negotiation needs be provided to both the parties in this
2