Pitching and Negotiation Skills Report for Business Development

This report delves into the critical aspects of pitching and negotiation skills within a business context, using Marks and Spencer as a case study. It begins with an introduction to negotiation, exploring its reasons and importance in stakeholder interactions. Task 1 examines negotiation processes, rationale, and the steps involved, followed by an evaluation of these steps and solutions to potential issues. Task 2 focuses on the application of the Request for Proposal (RFP) process, including required documentation and the consequences of breaching agreements. Finally, Task 4 assesses potential pitch outcomes, suggesting ways firms can fulfill post-pitch obligations, and critically evaluates both pitch and post-pitch outcomes to determine risk management strategies and identify potential issues. The report provides a comprehensive overview of negotiation strategies, RFP processes, and risk management in the business environment.

Pitching and Negotiation
Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Negotiation and reasons of its occurrence with key stakeholders.........................................1
M1 Concise rationale for negotiation process including its detailed steps.................................2
D1 Critical evaluation of steps of negotiation process & valid solutions to deal with issues.....3
TASK 2............................................................................................................................................4
M2 Application of RFP process with required documentation and consequences of breaching
agreement....................................................................................................................................4
D2 Critical evaluation of competitive tendering & contract process and make recommendation
.....................................................................................................................................................4
TASK 4............................................................................................................................................5
M4 Assessment of potential pitch outcomes and recommended ways in which firm can fulfil
post pitch obligations..................................................................................................................5
D4 Critical evaluation of pitch and post pitch outcomes to determine risk management and
potential issues............................................................................................................................6
CONCLUSION................................................................................................................................7

INTRODUCTION
In current market scenario, commodities are produced by most of the firms to sell them
and gain maximum profits. In this, it is required by an individual to have good pitching &
negotiation skills which supports them in winning contracts as per terms and conditions. By use
of good pitching and negotiation skills, firm enables to perform tasks in effective way and
maintain healthy relations with stakeholders as well as other companies (Chang and Rieple,
2013). Generally, small and medium enterprises use this concept in order to administer excellent
services. This assignment is based on Marks and Spencer which is a British multinational retailer
of United Kingdom and deals in clothing and household goods. This report includes negotiation
and its process along with reasons of its occurrence. Application of RFP process and
consequences of breaching agreement is also included. Apart from this, assessment of pitch and
post pitch outcomes to identify risk management and potential issues are defined in this project.
TASK 1
P1 Negotiation and reasons of its occurrence with key stakeholders
According to John C., (2012), Negotiation refers to the process in which 2 or more parties
or firms come together to resolve their issues by effective procedure. It assists in attaining
excellent outcomes by eliminating all such issues that hampers business operations. Along with
this, it is required to consider all such factors that are needed in effective communication so that
it becomes easy to interact with people in effective way. It assists in bringing transparency
among consumers and employees which in turn results in healthy relations between them as well
as reducing chances of conflicts (Horton, 2016).
Some reasons because of which negotiation arises are as follows:
Avoiding conflicts: Sometimes in business, there are some situations takes place due to
which conflicts arise. It generally happens at the time of making deals or assigning activities or
tasks (Cooke and Zaby, 2015). To settle down such kind of situations, Marks and Spencer use
negotiation at that time in which an agreement is made on similar view point in order to
suppressed these situations.
Creating win win situation: Many people believes that skills of negotiation are all about
beating the opposition party. But, it is not right as negotiators always try to create win win
situation in which both the parties get benefits at the end. It is very difficult to make everyone
happy and that is the main reason behind its high significance (Kamin, 2013).
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Building up respect: It is the factor which is highly required by everyone as it assist in
maintaining healthy relation (Dawson, 2014). In an organisation, respect is very important for
workforce so as to get effective outcomes. Negotiation assists in creating long lasting impression
which positively impact the image of firm. Marks and Spencer build up respect for their
employees which in turn increase their productivity and enhance goodwill of company in market
and among shareholders.
Different mindsets: Another main cause behind occurring negotiation is different mind
sets of employees as well as employer or in the parties that dealing in contract. It happens
generally due to different view points of people who work collectively within an organisation.
For instance: According to given case, manager & PA had meeting related to pay scale in which
PA requested to raised salary by 10% on mutual agreement and she was worth it.
In the process of negotiation, both management and employees play crucial role. Salary
increment, assigning tasks etc. are the situations which creates conflicts and firm needs to use
negotiation in such situations (Wiener, 2017).
M1 Concise rationale for negotiation process including its detailed steps
Negotiation is one of the important component that are used by various firms in order to
resolve issues that takes place between two parties (Dawson, 2014). Marks and Spencer analyse
all the available tools so that high quality goods can be delivered to potential customers. It
facilitates the company in generating high profits and revenue. The steps including in negotiation
process are defined below:
Preparation and planning: In this step, both parties are organise and gather all the
information required to have effective negotiation (Dierdorff, Rubin and Bachrach, 2012). They
should be aware of conflicts and people involved in it. In this, both firms must investigate history
of each other and try to figure out opening offer.
Definition of ground rulers: It is the second step in which procedures and rules are
established for planned negotiation. Various questions will be considered in it such where
negotiations will takes place? What happens is there is no agreement? etc. (Chang and Rieple,
2013). It is done when concerned parties come together to negotiate table & meet with each
other. It has 2 steps, one is rapport building and other is probing.
Clarification and justification: In this step, a discussion takes place related to specifics
of job price. Position of each party are discussed and they get chance to justify, support and
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explain their original request. It must not be argumentative but, it should administer the
opportunity to inform and educate each other regarding their position (Negrón, 2014).
Bargaining & problem solving: Essence of process of negotiation is give & take in
trying to negotiate an agreement. Proper bargaining is done in this step where concessions will
made by both parties. It satisfy the interest of both parties and assists in building long lasting
relationship (Wiener, 2017). This helps in making effective negotiation and both the parties are
satisfied with that.
Closure and implementation: It is the last step of negotiation process in which
agreement is formed and it has been worked out. Some procedures are developed which are
necessary for execution and monitoring (Healy, 2011). here, in this stage negotiation process is
closed and implemented. An agreement takes place among both parties with their mutual
concern and they are satisfied at last.
All the above mentioned points are considered by Marks and Spencer in order to get
appropriate results and attain tasks in effective way. Issues influence working of firm in direct or
indirect way on the basis of its effectiveness. So, firm uses all such methods which assists in
resolving issues that acts as a barrier.
D1 Critical evaluation of steps of negotiation process & valid solutions to deal with issues
As per the above mentioned points, it has been identified that negotiation is a process that
takes place between to parties in order to settle down the conflicts. Negotiation process takes
place in Marks and Spencer for gaining better results are as follows:
 It is effective when 2 or more parties or firms are involved in negotiation. This procedure
takes place only when there are more than 2 parties. In this a third party is involved
which is labour union which negotiates with both firms on the behalf of employees.
 An issue is always there regarding interest of both parties. There is always an issue as
interest of each party is different and it is not easy to satisfy interest of each. Third party
comes in between to negotiate and satisfy them.
 Parties involved in process of negotiation experience positive results (Rich, 2013).
Negotiation process is beneficial for both the parties and they feel that it will lead to
better outcome. So, both firms involves a third party to negotiate on some terms and
conditions and protect interest of both.
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 So, all members wants to accomplish task collectively instead of having dysfunctional
issues or situations. After negotiation is done, parties work together to attain tasks on
specified time. This will also assist in reducing situations of conflicts and healthy relation
remains maintain among them.
A particular procedure is followed by company in order to perform tasks effectively.
Stages includes in it are defined below:
Step 1: It is initial step where potential values for both parties are determined. All the
required information is collected by both parties in order to ensure effective negotiation. They
needs to be aware of all the situations or issues and members involved in it.
Step 2: Values are formulated and created which is required to collect information related
to case. In order to have a planned negotiation between both the parties various rules and
procedures are formulated in which many things are considered by them.
Step 3: In this step, both the parties get chance to explain, justify & support their original
request (Like it or not, sustainability is now core to your business, 2015). At this stage,
discussions are takes place among both parties regarding conflicts and each one has given a
chance to justify themselves.
Step 4: Under this, bargaining is done by both the parties so that terms and policies can
be formulated. All these are formulated with mutual concern of both parties and a proper
bargaining takes place which helps in satisfying interests of both.
Step 5: Negotiation process is implemented in effective manner so that better outcomes
can be gain. It is the last phase where an agreement takes place among both parties and has been
worked out. Some important procedures are also formed in order to ensure their proper
implementation and monitoring.
So, in order to deal with issues effectively, it is required by negotiator to have good
pitching & negotiation skills. This will assists Marks and Spencer in maintaining healthy relation
with other parties and helps in resolving conflicts in effective way. Apart from this, win win
situation is attained which facilitates them in collaborating with other firms so that they get
opportunity to expand their business all across the world (Paço, Ferreira and Raposo, 2017).
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TASK 2
M2 Application of RFP process with required documentation and consequences of breaching
agreement
All the documents and procedures are needs to be evaluated in proper way so that
appropriate pitching and negotiation can be done. Various procedures are adopted by Marks and
Spencer that are required for proper functioning of business. So, use of all documents not only
render benefits but, also assists in eliminating issues that creates problems in business
functioning. Factors that are linked with documentation process are as follows:
Determination of requirement: Every firm has some requirement that needs to be
fulfilled in order to doing work effectively. For this, company use RFP process so that
requirements and needs can be fulfilled by effective communication with other firms and
stakeholders. RFP (Request for proposal) refers to a written document that solicits proposal
which are often made by a process of bidding, through company or an agency interested in
valuable asset, commodity or service procurement, to suppliers in order to submit proposals of
business. It is a kind of bidding solicitation in which business firm announces that for a specific
program or project, funding is available and firm can place bids for completion of project. RFP
process is utilized where request needs specialized capability, technical expertise or where goods
and services being requested are not exist yet and proposal may need research & development to
generate whatever is requested.
Communication strategy: Communication is a process that is utilized by every
organisation to interact with others. It assists in developing negotiation and pitching skills that is
needed in RFP process. Plan of action as well as strategies are made by company so that
available resources can be optimized (Hendricksen, 2014). So, high technological tools are
utilized by Marks and Spencer by which they enable to communicate with manpower and
customers effectively.
Evaluation criteria: It assists in determining issues that needs to be considered
throughout RFP process. It provides an overview of process which they have to follow in order
to attain targets and objectives of company in specific period of time.
So, by making discussion and conducting meeting, suitable outcomes can be gained by
firm. It assists in attaining objectives in proper way. So, RFP process is utilized by Marks and
Spencer to create effective pitching ideas.
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D2 Critical evaluation of competitive tendering & contract process and make recommendation
As per the view point of Horton, 2016, Contract management refers to the procedure
which is utilized by most of firms to manage risk. All those factors are eliminated which hinders
the operations of firm so that proper functioning can takes place. So, Marks and Spencer use
several methods which enables them in managing healthy relations with other firms. For proper
functioning of business, it is very essential. Some contractual commitment that needs to be
optimized by firm are:
 Firm can work on the basis of rental contracts or under an agreement.
 They can merge with other companies in order to establish themselves effectively in new
market.
So, it is essential to maintain and manage healthy relation with all parties and contractors
so that set targets and objectives can be attained. Therefore, for working on contractual basis or
in partnership, it is required to follow some rules and regulations in order to perform business
operations properly. In addition to this, it assists in making effective decisions by sharing
opinions so that effective negotiation can be done (Kamin, 2013).
Tendering process:
Tendering refers to a process of making proposal, bid or an offer or express interest in
respond to request or an invitation for tender.
Government Tender Process:
In most countries, a law is required to announce or publish their tenders in public media
like their own websites, trade magazines and newspapers. For sourcing purpose, a list of
approved suppliers is keeping by government departments that is utilized to invite bids. Local
and government authorities may ask for “interest expressions” to permit other suppliers to be add
in list of suppliers before formal document is issue by them. Now, electronic tenders are also
issuing by some governments but is is still continuous practice by them to inquire bidders to
submitting bid in the form of hard copy.
Private tendering process:
Both, non listed and listed firms have use customized sourcing process which suits their
organisation. Private firms wishes to be seen as honest and ethical and adopt best practice that is
accepted internationally. The area where they not attain it completely is administering details of
weightings and evaluation criteria to prospective bidders. In government, this is standard practice
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and generally considered as transparent and fairest way to award contracts. For disclosing
weightings in advance, private firms are often reluctant.
Selecting bidders list to be included in process of tendering is not subject to limitations
so, these firms can limit who they see fit. Private companies are not bound to publish details
publicly to whom contract was given. It is really achievable for them to managing & completing
their process of tendering in less time when they are not bounded by strict government rules.
Price negotiation among short listed bidders and sourcing company is general practice that limits
by some protocols in government.
Steps includes in tendering process:
 Register interest.
 Attend sessions of tender information.
 Develop tender response strategy.
 Review recent awarded contracts.
 Write compelling bid.
 Understand payment terms.
 Find referees.
 Check and submit bid.
 Present bid.
 Request debriefing.
 Address concerns & complaints.
TASK 4
M4 Assessment of potential pitch outcomes and recommended ways in which firm can fulfil post
pitch obligations
After considering all factors, a discussion is conducted in order to made effective
strategies for upcoming projects. So, investors play important role and company wait for them to
make their view point that whether they want to invest or not. Some outcomes that are used in
pitching are defined below:
Acceptance: In order to see effective growth in operations of firm, it is required to accept
all such changes that are needed for pitching. One of the important factor is elevator pitch as if
an individual enable to influence others. It may be impacted in positive or negative manner. If
person agreed on this, they may invest their funds in future projects or proceedings. After this,
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the next step is no shop agreement. This agreement depicts that if document is non profitable
then further future plans in business project may not be approached. So, it is not required that no
shop agreement is signed by every individual. It rely on choice of firm that whether they want to
interact or not (Negrón, 2014).
Rejection: It is one of the most unfavourable outcome as in this, investors are not agree
with project concept. This can be due to process of communication utilized by an individual or
firm in order to affect their shareholders. So, it is required by the firm to look out for those
investors who are interested to invested in business operations of company (Paço, Ferreira and
Raposo, 2017). And it is also required to use effective communication process in order to interact
with large number shareholders effectively and attract them more. If this is not done by firm,
investors may not invest their funds in particular project.
No response: It is an essential component in regard to elevator pitch. So, it is very
essential to implement all the thoughts and views in an effective and efficient manner so
individual may not annoyed. It facilitates them in making appropriate decisions so that best
outcomes can be obtained. Firm needs to make suitable action plans and strategies which
provides them an overview regarding their future projects (Nudelman, 2017).
Come back later: In this stage, if activities that are performed by firm are not rendering
suitable outcomes then innovative ideas are applied by them in order to gain sustainability and
attain better position in market. This will assists in gaining loyalty of customers. Marks and
Spencer required to have enough funds so that, by the use of which they are able to buy new
resources to implement plan in effective and efficient way (Healy, 2011).
Post pitching may influence the performance of entire business operations. There are
several by use of which firm can attain goals and targets on time. Marks and Spencer needs to
administer proper documents to their stakeholders so they can understood it in effective manner.
In order to doing this properly, seminars and meetings needs to be conducted by firm so as to
communicate its mission and vision to investors and stakeholders.
So, before formulation of plans and strategies, it is required to consider all the factors
which can assists in satisfying all their investors in correct manner. It results in maintaining
healthy relations among them for longer time period (Paço, Ferreira and Raposo, 2016).
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D4 Critical evaluation of pitch and post pitch outcomes to determine risk management and
potential issues
The most important and basic technique that is utilized by most of the enterprises is
Elevator pitch. As per the view point of O'brien, (2016), it assists them in attaining all the task in
limited period of time. So, Marks and Spencer needs to identify several factors such as enhance
in production expansion, generating high revenues etc. so, by using all such resources, firm
enable to deliver high quality products to their potential customers. In order to manufacture
superior goods, it is essential that resources should be analysed in proper way that includes
equipments, machineries, manpower and capital etc.
In addition to this, the company, Marks and Spencer needs to administer appropriate
training programme to their workforce so that their skills and knowledge can be enhanced and
effective and efficient results can be obtained.
CONCLUSION
As per the above mentioned report, it has been concluded that negotiation is a process in
which disputes are settled that takes place between 2 or more parties or firms. Negotiation and
pitching skills is very essential component that assists the firm in improving its performance
level. It assists in effectively communicating with all the stakeholders and investors of company.
Effective policies and strategies are made by company by using negotiation process. It will assist
firm in maintaining good position in market. For getting effective results, it is important to
optimized resources properly so that superior goods can be manufactured as per the needs and
requirements of consumers.
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