Unit 44: Pitching and Negotiation Skills

PITCHING AND
NEGOTIATION SKILLS

TABLE OF CONTENTS
INTRODUCTION 3
Negotiation 4
The key steps for negotiating 6
Request for proposal (RFP) and its process 4
Contractual process 6
CONCLUSION 9
REFERENCES 10

INTRODUCTION
Pitching refer to pitch a particular amount or pitching the first step for any product or
service, negotiation include the dealing which can be negotiated by time and can vary from the
pitch amount. Sheldon Interior are innovative thinkers, they started working from Sydney’s first
design construct offices from 1989. Sheldon knows the importance of the design of the office
outfit and they provide the best workplace as it helps in working better to employees and feel
positive and motivate. In this report we will discuss about the Pitching and negotiation skills and
its important principle in the business perspective. It further explains about the tender process
and the development of pitch in sustainable competitive & the potential outcomes of the pitch
and the issues which can occur from the negotiation and pitching process.
3

Negotiation
Negotiation refers to the process of
decision making between two parties, having
different opinions. Negotiation helps during
resolving disputes or conflicts between two
parties. Basically it is a method which helps
the people in settling the differences. It
includes the compromises and agreements
instead of arguments in an organisation. It
may occur in any business situation. It
mostly occurs when there is more than one
possible outcome in which there are two or
more than two parties interested.
The key stakeholder during the negotiation
process:
A stakeholder is an individual who
directly affected by the results of the
decision making process. This term is
basically used during the resolving of the
disputes and planning process. There are
many stakeholders involved at the time of
resolving the disputes. It is not possible all
the time to hear each and every individual,
that’s the reason a representative has been
appointed to speak on the behalf of the
particular group. It requires that the group
should agree on the final decision of the
representative. The decision of the
representative should be more effective and
Request for proposal (RFP) and its process
Request for proposal is a document for
the business and it also provides the details
of the projects. Mostly it is used by the
governments but, the Sheldon interiors are
using these proposals. It is basically used for
identifying the feasibility and the ability of
the company. Basically it focuses on the
format and presentation of the bids of the
company. The process of RFP is as follows:
Gathering business requirement: before
starting, it is important to identify the
requirements of the business. A successful
RFP leads to a partnership. It is the main
goal to find an appropriate partner, who can
understand the business needs and try to
fulfil the needs of the business. This
develops an understanding between the
individuals. The RFP should openly discuss
the strength and weakness with the people so
that they can understand and helps in solving
the problem. The clarity amongst them is
very important. The information provides to
them should be accurate and useful. During
the gathering of information it is important
to consider all the possible areas.
Crafting the RFP documents: all the RFP
have lots of questions, some have dozens
and some have hundreds. It is time
4

efficient. The stakeholders are chosen
depending upon the conflicts and disputes.
The stakeholders are necessary in
each and every scale business, i.e., small
scale and large scale. In both types of the
businesses, there is large number of possible
situation in which there is requirement of the
stakeholders representatives.
Suppliers: suppliers are the individuals who
supply goods for the company. It is an
essential stakeholder as they rely on the
company for revenue from the sale. They
play an important role for the company.
Investors: investors are the person who
invests their money in the company. They
may also include owners. Owners have the
right to accurate the financial statements of
the company. Investors have the right to
approve or disapprove the decisions of the
company. An investor not only invests
money but also contributes their ideas and
skills. Investors also help in promoting and
improving the image and reputation of the
business.
Trade unions: It is the organisation of the
labour and workers in the Sheldon interiors.
Their main focus is on the improvement in
financial benefits, safe working situations,
social and political environment etc. They
are generally appointed for the safety of the
employees, as it s the foremost priority of the
consuming. It will be more helpful if the
questions are low, as it will be faster and
completed on time. Crafting of the RFP
simply depends upon the information
gathered. It is more preferable to make
question in yes or no format as it consumes
less time as well as can be understood by the
unqualified individuals. On the other hand,
company can also ask for the ideas and skills
to be shared, it will be helpful for the
company.
Evaluation to shortlisted vendors: After the
submission of the proposals, the issuer can
begin with the evaluation. During this stage
the issuer identifies the quality of the
vendors, and shortlisted the most qualified
individuals among them.
Following the shortlisted vendors: after the
short listing of the vendors, issuer starts
evaluation in depth. The evaluation of the
shortlisted vendors is done very majorly,
which helps in identifying the winner of the
bid.
Completion of the final evaluation: During
this stage, the RFP issuer has identified the
skills and quality of the vendors and has a
deep understanding of them. The issuer
plays an important role, as it compares each
and every vendor side by side. The vendors
are also given the scores according to their
performance.
5

company. The company have the strong
relationship with the trade unions.
Employees: Employees are the direct
stakeholders of the company. They directly
communicate with the customers, and also
give direct support to the business and its
operations. The company is totally
dependent on the performance of the
employees. The employees expects benefits
like incentives, bonus, job satisfaction etc.
from the company.
Government agencies: Government agencies
are also stakeholders of the company, as they
collect taxes from the company and the
spending done by the company.
The key steps for negotiating
The steps for the negotiating involve
the process of actual give and take of the
agreement between the individuals. There
are five different steps of negotiating. They
are described as follows:
Planning: in an organisation everything
needs to be planned before for the smooth
working in the company. Therefore, it is
important for the Sheldon interiors to
identify the conflicts before and make plans
and preparation accordingly. The people,
their perceptions and their expectations from
the negotiation are important. The nature of
Creating, issuing and signing the contract:
As the process of selecting an appropriate
vendors finishes, it’s time to document the
final result and also go forward process.
Contractual process
Contract is a written document of the
agreement done by the two parties. The
contractual process of the Sheldon interiors
are as follows:
Step 1: Selecting a contract: basically the
contract includes the agreement which suits
best to the transaction. It is an opportunity to
the company to choose the appropriate type
of the agreement. Normally the standard
agreements are preferred as they are written
in the clear language and are fair for both the
parties. Standard agreements do not require
any addition approval or review.
Step 2: Collecting the necessary
information: before signing any agreement
or the documents, it is important to confirm
whether it is legal or not. Companies have to
be aware and not to engage in any kind of
work which do not have any formal or
written document signed by the authorized
person or the institute. If is delayed then the
company can approach the contracting
services in the early stages of the contract.
Step 3: Choosing a negotiator: Contracting
6

conflicts should be identified before by the
company. The planning regarding the
meeting should be done earlier, it includes
when and where the meeting should be held.
Definition of rules: it includes the rules,
regulations and procedures of the company.
This step takes place after the planning
process. During this step, people exchange
their demands with each other. It is an
important step as it includes the rules and
regulations. The rules and regulations are to
be followed in the Sheldon interiors, as it
increases the productivity of the employees
in the company and also helps in achieving
the organisational goals effectively and
efficiently.
Clarification and justification: this process
is directly related to the process of definition
of rules, as it includes the clarification and
justification of the demands. It is an
opportunity for the individuals of the
company as they are gaining knowledge of
each other in the company. Clarity among
the employees are very important as it helps
them in working together, which results in
the working smooth. They also exchange
their issues and problems and also support
each other in Sheldon interiors.
Bargaining and problem solving: the main
focus of the negotiation is on give and take
of the agreement. In this basic step, both the
services plays a key role in developing the
agreement between the two parties. The
parties ensure the proper rules and
regulations, accountability, legal policies
etc., for the protection of the company and
its resources.
Step 4: The contract review process: for the
review of the contract, the copy of the
contracts is given to the corporation or the
other entity. The copy of the contract with an
appropriate attachment has been forwarded
to the contracting services for the review of
the sheldon Interiors.
Step 5: Contract signing: signing the
contract is the last and foremost step of the
contract. In this process, the document of the
agreement is ready with a stamp and signed
by the authorized person.
Therefore, following the contractual process
is an important part of the company, because
company has to make agreements on the
regular basis and Sheldon interiors should
be aware of the frauds.
7

parties interact and agree with each other and
comes upon an adequate solution. This step
helps company in smooth working of the
employees, as they work together and also
solve their problems with full efficiency.
Closure and implementation: this is the last
and final step; it includes the implementation
of the plan and procedure. This is the
mandatory and necessary step.
Therefore, these steps are important
for the negotiation, as it helps the Sheldon
interiors to allocate their available resources
and also helps in maintaining the interest of
each other.
8

CONCLUSION
The report explains the best ways to pitch and negotiate while working in the industry of
interior and the importance of negotiation as it helps in understanding the ways to negotiate the
give product. Further, understanding of the importance of the documentation as it is important in
patents and tenders and contracts as security. Negotiation and pitching skills helps in achieving
the sustainable competitive edge with the competitor with essential outcomes to be obtained. The
negotiation and its stakeholders and its key steps have also been evaluated in this report. The
process of RFP and the contractual process have also been explained in this report.
9

REFERENCES
Books and Journals
Faff, R.W., 2019. Pitching research®. Available at SSRN 2462059.
Fells, R. and Sheer, N., 2019. Effective negotiation: From research to results. Cambridge
University Press.
Kuncoro, W. and Suriani, W.O., 2018. Achieving sustainable competitive advantage through
product innovation and market driving. Asia Pacific Management
Review. 23(3). pp.186-192.
Lewicki and et.al., 2016. Essentials of negotiation. McGraw-Hill.
Maury, B., 2018. Sustainable competitive advantage and profitability persistence: Sources versus
outcomes for assessing advantage. Journal of Business Research. 84.
pp.100-113.
Misc, T.N. and Khan, R.Y., 2019. Tender Document.
Ng, T.W. and Lucianetti, L., 2016. Goal striving, idiosyncratic deals, and job behavior. Journal
of Organizational Behavior. 37(1). pp.41-60.
Such, J.M. and Rovatsos, M., 2016. Privacy policy negotiation in social media. ACM
Transactions on Autonomous and Adaptive Systems (TAAS). 11(1). pp.1-
29.
10