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Unit 44 Pitching and Negotiation Skills

   

Added on  2020-10-23

17 Pages5136 Words388 Views
UNIT 44 PITCHINGAND NEGOTIATIONSKILLS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Negotiation and involvement of key stake holders in negotiation process...........................1P2 Steps of negotiation process..................................................................................................2TASK 2............................................................................................................................................4P3 Request for proposal and documentation and consequences for breaching agreement.........4D2 Evaluation of competitive tendering and contract process...................................................5M3 Examining pitch process in Marks and Spencer and evaluating ways to maximise it.........7D3 Developing dynamic and creative pitch................................................................................9P.6. Assess the potential outcomes of pitch..............................................................................10M.4. Recommend ways in which Mark & Spencer firm can fulfil their post-pitchingobligations.................................................................................................................................11D4. Critically evaluate the pitch and post pitch outcomes to determine potential issues andrisk management.......................................................................................................................11REFERENCES..............................................................................................................................13

·INTRODUCTIONPitching and negotiation skills plays prominent role for a business as it helps in seekingattention of stakeholders and making people agrees on common interest. It is the techniquewhich helps in determining interest of all the individuals who are concerned with organisationalfunctions. The report will analyse negotiation skills of manager of Marks and Spencer in frontfor key stakeholders such as shareholders, suppliers, customer etc. Also, it focuses ondetermining negotiation steps which are followed by management for dealing and presentingissues. Beside, it will outline process of request for proposal which is implemented by Marks andSpencer to make appropriate documentation of agreement. Marks and Spencer is the leadingretail store on United Kingdom and especially deals in apparels. Thus, the report will criticallyevaluate pitch and post pitch outcomes for identify problems and managing risk. ·TASK 1·P1 Negotiation and involvement of key stake holders in negotiation process.Negotiation process is a discussion where two parties are involved to find one solution toproblem with mutual interest (Baber and Ojala, 2017). IT s the most effective processimplemented by organisation as it helps in maintaining interest of every stakeholders involvedwith the business operations. Further, it is important for the manager to implement the use ofappropriate step to conduct negotiation process because it helps In managing every bit of detailwhich is necessary to be shared with stakeholders (Lewicki and et.al., 2011). Negotiating withstakeholders is the most critical part for manager because in this the management focuses onevery term and condition and concerns which are required to negotiate with stakeholders. Thekey focus on manager of Marks and Spencer when negotiation with key stakeholders is overtheir benefits because it is the only condition which help in conducting process. In discussionover any change the enterprise aims at proving satisfaction of each and every person of firm whocan get effected with changes in decision.However, key stakeholders in negotiation process of company will be the individual whowill get affected by change in decision. In this discussion the manager will, consider priority toemployee because these are the person who are asset to organisation and are aware about thetaste and preferences of consumers. Employees are the stakeholders of firm which helps themanagement in analysing time constraints, resources required and changing needs and wants ofbuyers. Therefore, it is important for the entity to involve and to serve satisfaction to employee1

in negotiation process (The contracting process, 2018). Apart from this, shareholders are themost important part of organisation because these individuals are the investors which derivescompanies share value. The changes in decision of company directly hampers their invest.Therefore, involving and protecting interest of shareholders is another foremost responsibility ofmanager. In addition, suppliers of Marks and Spencer are stakeholders who are responsible forsupplying quality raw material to company at minimum price and that is why seeking advice andanalysing interests suppliers plays a vital role for manager. Thus, concerning and negotiatingwith stakeholders is the essential part of business process because it helps in protecting interestof every person who is directly or indirectly related with organisation and its functions. The bestexample of negotiation can be trade unions who are association who fight for the rights ofemployees with management. The focus of trade unions is to negotiate at the point of workersinterest, like, increasing salary, enabling work life balance etc. Rationale for negotiation processThe ultimate motive behind implementing negotiation process is to seek advice fromevery stakeholders about the changes in decision. It helps in setting stepwise process consideringall basic details which can helps in making people agree on common interest. Further, it isimportant for manager because it helps in determining needs and wants of every stakeholders.Following negotiation for decision making is the most effective approach for business operationsas it helps in seeking advice from different sources and implementing them with one commoninterest. It is considered as prominent because it assists in managing successful businessoperations. Thus, the management of Marks and Spencer will focus on negotiation because ithelps in seeking consent of every person who is related and can be affected by decision makingprocess of organisation.l壱P2 Steps of negotiation processAt the time of negotiation, it is important for the manager to apply the use of negotiationprocess because it helps in deriving step wise process which involves every necessary step whichneed to file negotiation agreement (Goldberg and et.al., 2014). For planning negotiation themanager and personal assistant which utilize systematic step wise process because it will help thesystem in outlining all the essential details and step. Thus, negotiation step which are followedby manager are as follows:2

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