Analysis of Pitching and Negotiation Skills for Business Success

This report provides a comprehensive analysis of pitching and negotiation skills, crucial for business success, particularly for a company like Marks & Spencer. It explores the reasons for negotiation, key stakeholders, and the negotiation process, including steps like preparation, involvement of other groups, closing procedures, and formulating alternative plans. The report evaluates these steps and offers solutions for issues that may arise. It also delves into the REP (Request for Proposal) process, documentation requirements, and consequences of breaching agreements. Furthermore, it examines the pitch process, emphasizing ways to maximize the chances of a successful pitch, and discusses potential outcomes and post-pitch obligations, including risk management. The report highlights the importance of effective communication, creating win-win situations, and building respect within an organization, providing valuable insights for achieving sustainable competitive advantages.

PITCHING AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Determining negotiation and reason for its occurrence along with Key stakeholders...........1
M1. Concise rational for the negotiation process including steps that organizations go through
during a negotiation process and the information required in preparation.................................2
D1 Evaluate the steps of the negotiation process and present valid solution for dealing with
issues that can arise.....................................................................................................................3
TASK 2............................................................................................................................................4
M2 REP process within an organizational, outlining the key documentations required and
consequences of breaching the terms of an agreement...............................................................4
D2 Competitive tending and contract process and make recommendations for completing a
successful tender with minimal risk............................................................................................5
TASK 3............................................................................................................................................5
M3 Pitch process in an organization, evaluating ways to maximise the chances of a successful
pitch.............................................................................................................................................5
D3 Dynamic and creative pitch that is both concise and persuasive to achieve a sustainable
competitive edge.........................................................................................................................6
TASK 4............................................................................................................................................7
P6 Potential outcomes of a pitch.................................................................................................7
M4 Ways in which an organisation can fulfil their post- pitch obligations, highlighting and
potential issues............................................................................................................................8
D4 Evaluate the pitch and post pitch outcomes to determine potential issues and risk
management................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
As per the current market scenario, most of the companies produce commodities in order
to sell their products so as to gaining maximum profits. Therefore, it is necessary that an
individual has pitching and negotiations skills. This assists them in winning all the contracts
according to the terms and conditions. Basically, this kind of concept is used by small and
medium firms so as to provide excellent services and facilities (Chang and Rieple, 2013). If
company utilises excellent pitching and negotiation skills then they can perform the tasks in an
effective manner that will help them in having healthy relations with other companies and
stakeholders as well. Marks and Spencer is a leading organisation in the United Kingdom that
deals in products related with clothing and household items. Company was established in the
year 1884. Report throws light on determining reason behind negotiation and the process of
stakeholders commences. Lastly, the potential outcomes of a pitching are covered in this
assignment.
TASK 1
P1 Determining negotiation and reason for its occurrence along with Key stakeholders
The action or process of transferring legal ownership of a document can be known as
negotiation. In other words, it is a concept under which two or more companies or individual
come together in order to resolve their problems through effective process. This helps them in
achieving excellent results by eliminating all the issues that are creating problems in business
operations. It is much required for two business entities in order to do business with transparency
so that no fraudulent activities can be done from any of them. Apart from this, factors that are
required for effective communication are used so that they can interact with other people
effectively (Cooke and Zaby, 2015). Therefore, it is creating transparency in between employees
and customers. As a result, it is helping them in sustaining better relations and at the same time,
minimises chances of conflicts. Thus, some of the negotiation process which are used by M&S
given below mention:
Reducing Conflicts: Manager and superiors of an organisation face many problems in
order to sustain a better position in the market. For this, it is necessary that company has
effective strategies which they can follow for getting the best results. There are ample number of
theories and concepts like Maslow's motivational theory and others which can help an
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organisation in developing proper relation among employer and employees. It is much required
for Marks and Spencer so that development can be done of products and services that they are
offering at marketplace. It is being seen that suggestions that are been given by employees may
aid an organisation in raising its profitability and productivity both at the same time. Therefore, it
is important that managers of Marks and Spencer monitor the performance of their employees on
a regular basis so that superiors can evaluate the problem that is creating conflicts amongst
workers. Hence, it enables them in attaining the positive results in a specific period of time.
Creating win-win situation: A win win situation is when a company raises its reputation
at a market, profit, productivity, sales and other things through delivering products and services
in an appropriate manner to consumers according to their needs. Variety in culture can be seen at
workplace with different mind-sets. This helps an organisation in resolving the problems through
various methods so as to gain excellent outcomes. Therefore, negotiation assists the organisation
in identifying the situations effectively so that goals and objectives can be attained properly
(Dierdorff, Rubin and Bachrach, 2012).
Building up respect: For working in an organisation, it is important that a healthy
environment is maintained and this can be possible when all the employees and superiors will be
given with importance and respect as well. Therefore, managers of Marks and Spencer are taking
feedbacks and reviews from employees so as to know whether workers are having any problem
in accomplishing the tasks appropriately or not. As a result, it is assisting them in achieving goals
and set targets in a given time frame (Dawson, 2014). Further, Marks and Spencer is using
negotiation skills for communication with customers so that a healthy relationship will be
maintained in between them. This can be done through asking for feedbacks from consumers
after when they use products and services that they have sold. With the help of this, organisation
can create long term relation with consumer. Along with this, company can create win win
situation at marketplace and may give good rivalry to competitors.
Different mind-set: This can be one of the reasons of conflicts in between employees as
they may not agree with the views and thoughts of one another. For example: as per the given
scenario, an issue is arising between the manager and PA in terms of pay scale and it is creating
problem for superior to cooperate with other members of the board. Therefore, negotiation is
used in this and a thought is presented to which both can agree. This will help them in resolving
the problem in a better manner without any conflicts (Healy, 2011).
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Henceforth, negotiation is a process that is required in every stage of the organisation.
Through this, a positive environment can be maintained and assist employees in obtaining all the
set targets and goals in specific period of time.
M1. Concise rational for the negotiation process including steps that organizations go through
during a negotiation process and the information required in preparation
Negotiation is considered as an important element that many of the organisations utilise
in order to resolve most of their problems. Therefore, Marks and Spencer is optimising all the
tools and technologies that are available to them so that the best quality products can be
delivered to its customers (Dierdorff, Rubin and Bachrach, 2012). Issues can affect a company
directly or indirectly based on the effectiveness of problems and therefore, they are using all
these methods for resolving problems that are acting as a barrier. It is assisting them in
generating high revenue. Certain steps that are used by Marks and Spencer in negotiation are
mentioned as below:
 Preparation- Analysation and research of market is being done by manager and then only
plan can get developed.
 Involvement of other groups during negotiation- there are ample number of sectors that
may build confusion among two entities while doing an agreement.
 Closing the procedure of negotiation- This includes selecting the best way of taking
negotiation under process.
 Formulating of alternative plan of action- When a plan fails it costs much to companies.
Therefore, it is required for them to develop an alternative plan so that they do not face
any sort of losses.
 Execution- Developed plan comes in execution through considering all the relevant data
which is being gathered by research and development department (Negrón, 2014).
Therefore, Marks and Spencer is optimising all the above mentioned points so as to get suitable
results and accomplish the task in an effective manner.
D1 Evaluate the steps of the negotiation process and present valid solution for dealing with
issues that can arise
According to the points mentioned above, it is determined that negotiation process can be
said as a procedure that happens in between two different groups so that relevant outcomes of
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difficult problems can be evaluated. The procedure of negotiation that Marks and Spencer follow
in order to gain the best results are given as below:
 This is optimised when two or more parties are involved in negotiations.
 There is always an issue related with interest factor among the parties.
 Parties that are involved in this negotiation process experienced positive outcomes.
 Therefore, all the member in a group desire to accomplish the task together rather than
having dysfunctional issues and conditions (Healy, 2011).
Marks and Spencer is following a specific procedures in order to operate the task in an effective
manner. Therefore, stages that are included in this are mentioned below:
Steps 1: This is the first step in which potential values of both the parties are identified.
Along with this, it is required for both of the organisation to understand about all specific values
which they both have so that no conflicts may take place.
Step 2: Formulating and creating the values that is required for accumulating the
information that is related to the case. This can be considered as second phase where two firms
do gathers about all the relevant data of companies so that creation of values can be done.
Step 3: By concerning both the parties that are involved in negotiation is done in order to
design and manage the entire process. With the help of this, firms do get to know about their
profit and loss margins that they are going to have in near future.
Step 4: Under this, negotiation is concluded so that desires terms and policies can be
formulated. This phase aid organisations in coming to a conclusion where both of the parties gets
agree with each other demands and other things.
Step 5: This is considered as the final steps, in which Marks and Spencer the execution of
entire process is done in an effective manner so that a better results can be obtained. This can be
stated as the last phase where firm starts doing business and make future plans in order to grab a
good position in near future at marketplace.
Therefore, in order to perform the task and maintaining a healthy relation with other
companies it is required that Marks and Spencer has appropriate pitching and negotiation skills.
This will enable them in resolving the conflicts and issues in an effective manner. Other than
this, win win condition is utilised for having better results. Henceforth, it is assisting them in
collaborating with other organisation so that they can expand their business across the globe.
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TASK 2
M2 REP process within an organizational, outlining the key documentations required and
consequences of breaching the terms of an agreement
It is important to evaluate all the documents and procedures so that proper negotiation
and pitching can be done in an effective manner. According to the requirements, Marks and
Spencer are adopting various processes which are required for a proper functioning of business
operations (Hendricksen, 2014). Therefore, using all these documents not only provides benefits
but also help then in eliminating all the issues that are creating problem further business
proceedings. Thus, the factors that are connected with the process of documentation are given
below:
Determination of recruitment: Every organisation have one or the other requirements
that are to be fulfilled so that they can work according to the needs and wants of customers.
Therefore, RFP process is used by the organisation so that demands and requirements can be
fulfilled through effective communication skills with their stakeholders and merchandisers
(Healy, 2011).
Strategy of Communication: Communication is the basic process that is used by most of
the organisation in order to have appropriate interaction between others. This provides assistance
for negotiation and pitching skills which is required for the entire process of RPF. Further
company makes strategies and plan of action so that they can optimise all the resources that are
available to them (Horton, 2016). Thus, it is Marks and Spencer is using latest tools and
technologies through which they can communicate with customers and employees as well.
Criteria of evaluation: This help the organisation in identifying all the problmes that
should be considered throughout the procedures of RPF. It is assisting them in having an
overviews of the entire procedures which they can follow so as to achieve the set targets and
goals in specific time period.
Therefore, by conducting a meeting and discussing about all the matter through which
organisation can get suitable outcomes is considered. It is helping them in attaining the
objectives in an appropriate manner. Henceforth, Marks and Spencer is optimising RFP process
in order to generate effective pitching ideas.
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D2 Competitive tending and contract process and make recommendations for completing a
successful tender with minimal risk
An agreement between two or more parties that creates obligations that are enforceable or
otherwise recognized by law can be known as contract process. Two different entities should go
for different steps in order to do a contract which are given below:
 Step1: Selecting a Contract.
 Step 2: Collecting the Necessary Information.
 Step 3: Choosing a Negotiator.
 Step 4: The Contract Review Process.
 Step 5: Contract Signing (O'brien, 2016).
Contract management is a process that is used by most of the organisation so that they
can minimise the chances of risk to some extent. All the obstacles are eliminated so that
company can function all its activities in a proper manner. Henceforth, there are various methods
by which Marks and Spencer are enabling themselves in maintaining a proper connection with
other firms. Therefore, dealing with all the organisation is important so that a functioning of the
business can be operated in an appropriate manner (Negrón, 2014). Further some of the
contractual commitment that has been optimised by Marks and Spencer are as follow:
 Company can work under an agreement or work on the basis of rental contracts. They can also opt or merge with others firms so as to establish themselves in the new
market in an appropriate manner.
Recommendation:
Analysation should be done of policies and organisational culture/structure which is
being followed by company with whom it is going to do contract. Along with this, profit and loss
margins gets set of two companies which may aid them in hitting their targets in much effective
and appropriate manner.
Therefore, it is important to manage and maintain a good relation with all the contractors
or partners in order to achieve the set targets and goals. Thus, working in partnership or
contractual basis it is necessary to follow certain rules and regulations that are required so as to
achieve and perform their business operations appropriately. Apart form this, it help them in
decision making as they it assist them in sharing their opinions so that negotiation can be done
properly (Hendricksen, 2014).
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TASK 3
M3 Pitch process in an organization, evaluating ways to maximise the chances of a successful
pitch
Pitch is the process that is used by an organisation in order to have a effective
communication between employees so that they can influence others as well so as to achieve the
set targets and objectives in a better manner. Appropriate communication skills is helping them
in interacting with other stakeholders and investors so that company's project can be achieved
effectively. Therefore, it is necessary to have a tow way interaction between where every body
gets a chance of expressing their views and thoughts respectively. To have a proper
communication it includes various methods like e-mails, presentation, meetings, conferences and
many. With sufficient resources that are available to them Marks and Spencer is executing their
business operations in an effective manner (Nudelman, 2017). Apart form this, it is necessary
for capital providers to evaluate the whole process and key factors through which they can
achieve business objectives. Therefore, to be successful it is required that stakeholders use
simple process of presentation rather than complex procedures so as to evaluate the future
proceedings and components of pitching in an effective manner. The related information that are
included in this the presentation must be relevant so that presentor must find it easier to convey
the message in an appropriate way. Along with this, an individual must be confident while
explaining the information that is included in the presentation. This will enable them in having a
good impression on listeners.
In order to execute the whole process in an effective manner it is necessary that all the
data that are available to them are utilised in a proper way so that a valid conclusion can be
evaluated. All these information must be used carefully so that flaws can be eliminated. While
executing the process there might be a chance of arise in risk and issues further to cope up with
this company should make proper strategies and plan of action. Therefore, it is essential that all
the data which is presented must be concise but more effective so that it can influence the
stakeholders and investors who can invest their money for future proceedings. This will help
Marks and Spencer is generating sufficient amount of money so that they can operative their
business in an effective manner (O'brien, 2016). Other than this, it will help them in winning the
loyalty of stakeholders for this, it is important that they set a target that is achievable. Thus, they
should set the targets that can be achievable. Hence, stakeholders should monitor and keep an
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eye on the company so that they can see the resources are used in an effective manner. Hence, it
is prime duty of managers to utilise all the elements that are available to them in order to have
effective outcomes.
D3 Dynamic and creative pitch that is both concise and persuasive to achieve a sustainable
competitive edge
If a company wants to gain better position in the market area and to launch a new product
they are using pitching investors. This will help them in communicating with other in a suitable
manner as a result competitive advancement can be achieved. Therefore, project managers of an
organisation help the organisation in establishing the better position in the market area along
with the brand loyalty. Further, Marks and Spencer is offering discount coupons and offers in
their commodities sop as to attract more and more customers toward their organisation.
Henceforth, for making their product safe from other rival companies M&S have patent
their commodity which is making them unique from others. Other than this, company is using
long and short term contractors so that they can get better results and outcomes.
TASK 4
P6 Potential outcomes of a pitch
After considering all the factors a brief discussion is being conducted so that strategies
can be made for the upcoming projects. Therefore the role of investors came into being and
company desperately wait for the investor to make their point whether they want to invest in
their business or not. Some of the outcomes are mentioned below that is used in pitching:
Acceptance: For having an effective growth in business operations it is necessary that
they have accept all the changes that is required for pitching. Elevator pitch is an important
factor as if the person will be able to influence the person than it can have a positive impact or
vice versa. As a result if an individual agree to this than he/she may invest their money in future
proceedings or projects (Paço, Ferreira and Raposo, 2016). After this, the step that arises is no-
shop agreement, which states if the document is not profitable than they may not approach their
further plans in this business project. Hence, it is not necessary that every individual sign no-
shop agreement and it is depends on the choices of organisation whether they want to
communicate with the same part or not.
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Rejection: It is considered as one of the unfavourable outcomes because under this
investors may not agree with the concept of the project. This can be because of the
communication process used by the individual in order to influence stakeholder. Therefore, it is
necessary that organisation lookout for other investors who can invest in their business
operations.
No response: This is one of the most essential element of elevator pitch. Hence, it is
important that all the views and thoughts are execute in an effective manner so that the person
may not get annoyed. This assist them in taking proper decision making so that a appropriate
outcomes can be evaluated. For this, it is necessary that they make suitable plans and strategies
so that company can have an overview about their future projects.
Come back later: Under this, if the activities are not providing suitable outcomes than by
applying innovative ideas and sustaining the better position at market area they can regain back
the loyalty of customers. For this, it is required that Marks and Spencer have ample amount of
money through which they can buy new resources in order to execute the plan in an effective
manner.
M4 Ways in which an organisation can fulfil their post- pitch obligations, highlighting and
potential issues
Post-pitching can effect the performance of whole business operations so there are
various methods through which they can achieve the set goals and targets in specific time period.
It is important that Marks and Spencer is providing proper documentation to stakeholders so that
it can be understood by them by them in an effective manner (Rich, 2013). For doing this in an
appropriate way meetings and seminars should be conducted so that company can tell about the
mission and vision of their organisation in front of stakeholders and investors.
Therefore, before formulating the strategies and plans it is necessary that all the factors
and elements are taken into considerations so that they can satisfy their investors right on time.
As a result a healthy relation can be maintained for a longer period of time.
D4 Evaluate the pitch and post pitch outcomes to determine potential issues and risk
management
The basic and important technique that is used by most of the organisation is Elevator
pitch as it help them in completing the task in specific limited time frame. Therefore, Marks and
Spencer is determining various factors like generating more and more revenues, improving in
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expansion of production etc., hence, by utilising all these resources they are enabling them in
delivering best quality products (Wiener, 2017). Further to manufacture superior products it is
necessary that all the resources are optimised in a better manner which includes human resource,
capital, machineries, equipments and many more.
Other than this, Marks and Spencer is giving proper training programmes in order to
increase the skills and knowledge of their employees so that they can give effective results for
the same.
CONCLUSION
From the above report it can be concluded that, pitching and negotiation skills is an
essential element that helps an organisation in enhancing the performance level of the
organisation. With the use of this process company can make proper policies and strategies by
optimising these firm can sustain a better position in the market area. Therefore, for having
effective results it is important that all the resources are optimised in an appropriate manner so
that all the goods and products that are manufactured are according to the needs and wants of
customers. Therefore, there are different kind of documents that helps contactors in signing the
agreement properly.
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REFERENCES
Books and Journals
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startups in Berlin. Journal of Higher Education Theory and Practice. 15(4). p. 97.
Dawson, C., 2014. The Mature Student's Study Guide 2nd Edition: Essential Skills for Those
Returning to Education or Distance Learning. Hachette UK.
Dierdorff, E. C., Rubin, R. S. and Bachrach, D. G., 2012. Role expectations as antecedents of
citizenship and the moderating effects of work context. Journal of Management. 38(2).
pp. 573-598.
Healy, K., 2011. Social work methods and skills: the essential foundations of practice. Palgrave
Macmillan.
Hendricksen, D., 2014. 12 more essential skills for software architects. Addison-Wesley
Professional.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Negrón, R., 2014. New York City's Latino ethnolinguistic repertoire and the negotiation of
latinidad in conversation. Journal of Sociolinguistics. 18(1). pp. 87-118.
Nudelman, G. R., 2017. Engineering identity: Analysing e-portfolios in a professional
communications course. South African Journal of Higher Education. 31(2). pp. 211-
225.
O'brien, J., 2016. Negotiation for Procurement Professionals: A Proven Approach that Puts the
Buyer in Control. Kogan Page Publishers.
Paço, A., Ferreira, J. and Raposo, M., 2016. Development of entrepreneurship education
programmes for HEI students: The lean start-up approach. Journal of Entrepreneurship
Education. 19(2). p. 39.
Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship. 21(1).
Rich, C., 2013. The Yes Book: The Art of Better Negotiation. Random House.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to
Get, Set, and Keep the Fees You're Worth. Kogan Page Publishers.
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