Marks and Spencer: Pitching and Negotiation Skills in Business Report

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 by outlining the negotiation process, identifying key stakeholders, and detailing various steps involved in negotiating and generating ideas. The report then explores the Request for Proposal (RFP) process, including documentation requirements, and emphasizes the importance of monitoring the contractual process. Key principles for developing a compelling pitch to gain a sustainable competitive edge are discussed, along with potential outcomes. The report also highlights the fulfillment of obligations through effective pitching and concludes by summarizing the importance of these skills for organizational success. The report emphasizes the use of negotiation strategies like problem-solving, contending, yielding, and compromising, to achieve mutually beneficial outcomes. This report is aimed at students and professionals seeking to improve their business development skills.

PITCHING AND
NEGOTIATION SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
P1. Determining negotiation process and key stakeholders........................................................1
P2. Various steps required for negotiating and generating ideas................................................3
P3 Determining RFP process and types of documentation.........................................................4
P4. Monitoring the contractual process and documentation.......................................................5
P5. Key principles for developing a pitch so as to achieve sustainable competitive edge. ........7
P6. Potential outcomes of a pitch................................................................................................8
P7 Fulfilment of obligations using pitch.....................................................................................9
CONCLUSION..............................................................................................................................10
Kaff2011REFERENCES...............................................................................................................11

INTRODUCTION
Both pitching and negotiation skills are essential for an organization as they help to
resolve issues and confusion among employees and management. It is crucial for large
organizations having large workforce. Pitching technique is helpful in marketing of the products
and negotiating skills save cost for company.
Marks and Spencer is a large retail company specialised in the marketing of men and
women clothing, expensive food products and home articles which is headquartered in London in
the City of Westminster. Marks and Spencer was found by a partnership between Michael Marks
and Thomas Spencer in Leeds in 1884 which allows online services since the mid-2000s.
Company involves negotiating with employees and suppliers in order to make the best possible
decision and pitching is helpful as innovative workers are the base of M&S.
P1. Determining negotiation process and key stakeholders
Negotiation is a process through which two parties in conflict reaches on a said outcome
through an agreement. Process of negotiation is crucial to any organization and involves
employees, managers and shareholders which are the key stakeholders of a business firm. The
process of negotiation involves stages which are helpful in solving issues and conflicts arising
among business personnel of an organization.
Marks and Spencer being a multinational company, arising of disputes is controlled
through process of negotiation so as to maintain harmony in the company. The prime
responsibility of management is to ensure sound working system and cooperative employees.
The manager of departmental store will focus on negotiating with stakeholders of firm in order to
maintain sustainability of enterprise. These steps include:
Planning and preparing
It is an important step which is usually neglected but greater emphasis should be given
while preparing negotiation between parties. At Marks and Spencer, managers involved in
negotiation firstly set objectives, determine set outcomes i.e. if solution fails, finding out needs
of both parties, list and rank values and issues of both, conduct extensive research about the topic
in concern, rehearse the process of negotiation and thereby writing the conclusion for further
discussion.
Exchange of information with other party
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The next stage in the process of negotiation involves engaging both the parties and
carrying out a discussion while communicating with them. At M&S, a critical pattern is used
where manager or negotiator introduces himself to both the parties, proposals from both the
parties are evaluated and objectives are designed by discussing concepts and ideas related to
issue. Manager then tries to make a win-win situation for both the parties by considering a
compromising decision involving both parties.
Bargaining
This step involves a give and take situation where both the parties take something by
giving a thing. No one person can be in win-win situation and has to offer something in order to
gain something. At this stage, value is created and with negotiation, it is captured. The store
manager usually adopts this process while dealing with customers so as to retain them as well as
enhance their experience.
Concluding the negotiation
Last stage implies executing and concluding negotiation and thereby, satisfying both the
parties. The motive behind implementing negotiation process by manager at M&S is to make
stakeholders agree on one common interest with mutual consent. Thus, to make negotiation
process effective management needs to involve key stakeholders for discussion and consultation.
Company implements the use of step wise process of negotiation because it helps in making
process systematic with considering all necessary and valid details.
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(Source: Negotiation, 2018)
P2. Various steps required for negotiating and generating ideas
When negotiating, management of store will focus on implementing key steps of
negotiation process as it helps the person in managing systematic process by considering needs
and wants of every stakeholder who is concerned with negotiating and general deals of firm. The
success of negotiation process depends on satisfaction of both parties involved.
At Marks and Spencer, negotiation is a crucial task as company believes that its
stakeholders are important and thus, any conflict amongst them needs to be solved in a
comprehensive manner which satisfies both the parties and thereby, motivating them. There are
various steps needed to be considered while negotiating and considering ideas. These include:
 Determining the outcomes on which one will be satisfied before starting the process. This
implies starting point and end results should be identified. Managers at M&S usually
follow this process while settling disputes and conflicts.
 Decide the objectives of negotiation process by evaluating mind status of persons
involved in the process. The managers are needed to set only those objectives which are
emotionally and ethnically non bias so as to reach at the decision.
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Illustration 1: Negotiation

 Before starting negotiation, various proposals and counter-proposals need to be decided.
It is the responsibility of manager of departmental store to ensure a backup plan in case
negotiation do not occur in interest of all stakeholders. Carry out a plan for purpose of negotiating and why is it important. For M&S, it is
important to bargain and negotiate if disputes arises so as to make environment of
working favorable for stakeholders.
Strategies and tactics for negotiating:
Problem solving
The problem solving strategy of negotiation helps in bringing together of two parties for
negotiation and thereby, deciding on a common solution which involves careful investigation.
Contending
This type of negotiation involves one party to accept another party’s outcomes through
negotiation. Managers of M&S apply contending negotiation while settling disputes so that no
stakeholder will feel misbehaved in respect of another.
Yielding
Yielding negotiation refers to accept another party’s viewpoints irrespective of other
party's consent. M&S at times follow this process of negotiation when conflict arises amongst
management and customers as they are vital for the organization.
Compromising
The normal type of negotiation involves give and take process where one party
compromises with another so as to reach on a mutual decision.
Inaction
Buying time to think about the proposal, gather more information or decide your next
tactics is known as inaction tactic of negotiation.
P3 Determining RFP process and types of documentation.
The term RFP refers to as a request for proposal often used by companies for various
purposes such as procurement of raw materials etc. (Jun and Kyle, 2011). In negotiation request
for proposal is made in context of settlement for dispute between two parties. This whole
process is based upon the time period of approximately three months. It can take a lot longer
time than this if the process of negotiation is not conducted fluently.
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(Source: What’s the best way to negotiate during the RFP process, 2018)
RFP is the request made by the companies who are interested in purchasing some special kind of
products and services for further processing in order to manufacture finished goods and services
(Demarr and Janasz, 2014). Various documents are required for RFP as it is a crucial task and
involves huge cost.
The process of RFP at Marks and Spencer while acquiring raw materials from suppliers
involves preparation of request, inviting suppliers or parties involved, going through the process
of bargaining or negotiation with parties and thereby selecting the best proposal or suppliers for
procurement of raw materials. The company then undertake another process of negotiating with
shortlisted suppliers and finally sign the contract best suited and cost effective for procuring
materials and goods (Vasudevan, 2014). Thus to conclude, RFP is a process through which
suppliers are invited for a specific type of product and are then shortlisted based on a bidding
process which involves negotiation.
For instance, at M&S the company issues rfp for regulating financing and operating
systems so as to meet requirements. All interested members and parties submitted their proposals
and valuable ideas in set documents. The company general manger with a team, evaluates the
proposals received and shortlisted the ones meeting criteria. It then carry out a documented
process by negotiating on technical basis and selected the most feasible proposal.
P4. Monitoring the contractual process and documentation.
The process of contract is a systematic activity while negotiating between parties
so as both the parties roles and needs are fulfilled simultaneously (Demarr and Janasz, 2014).
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Illustration 2: RFP Process

The man significance of this process is to ensure that each and every individual of the
organizations like Marks and Spencer , is conducting there work in the most prominent manner.
The contracts is a written document obligating both parties towards a single decision. The
process of contract includes:
(Source: The Contracting Process, 2018)
Selecting a contracting:
It involves which proposal or form should be selected so as to carry out the procedure in
a feasible manner. M&S team usually selects on the basis of issue which will be best settle so as
to work continues in harmony (Spring, 2017).
Collecting Information:
It is a vital step undertaken so as to make contract a success. Information is collected
through various sources and data is gathered so as to carry out an agreement addressing both
parties.
Choosing a Negotiator:
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Illustration 3: Process of Contract

A negotiator is a person binded by law to enter into a negotiation so as to execute it in a
right manner (Vasudevan, 2014). M&S has a panel of persons who are responsible for settling
disputes among employees and others.
Reviewing Contract:
The review and execution of contract is vital for its success. The contract should be
reviewed by both parties as well as by persons attached.
Signing of Contract:
Last and foremost important step in the process of contract involves signing by parties
and negotiator so as to declare the issue has been resolved (Kaff, 2011).
Documentation monitoring and managing is also crucial for successful implementation of
a contract. It is a process designated by law and should be according to set rules and regulations.
The contract is a document binded by law which protects the rights and responsibilities of parties
associated with it. Before documenting the contract all the required legal work must be
accomplished by the companies in order to ensure the smooth working process. It involves
selecting right documents of standardized procedure, procuring data and information related to
the issue and reviewing of all the standard documents by a negotiator. The negotiation process
takes place within the documentation of the contract and should be highly confidential and only
authorized personnel should carry out the desired process.
Marks and Spencer has a designed procedure to carry out a contract by taking all
relevant data and information in a proposed format thereby structuring legally so as to ensure its
success.
P5. Key principles for developing a pitch so as to achieve sustainable competitive edge.
Pitching structure focuses on creating value, brand image, and networking for
entrepreneurs. It helps in building trust during the process which ensures solution accurately
fitting to the problem. The pitch framework is a comprehensive and impactful way to
communicate your value to the decision makers. Pitching is a process which helps achieve
competitive advantage for the organization (Spring, 2017). The principles of pitching in business
plan refers to keeping shareholders and other investors informed about strategic plans which will
require investment. These principles help make business plans a success and organizations are
able to achieve competitive advantage through the process of pitching. Moreover, pitching is a
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crucial task needs to be undertaken by mangers, leaders and shareholders so as to ensure proper
processing of elements (Vasudevan, 2014).
Marks and Spencer in order to obtain competitive advantage uses pitching process as it
focuses on leadership of cost and differentiation. The motive behind the adoption of such a
strategy is to enhance more customers by influencing their purchasing decisions either in store or
online whichever is feasible. The Brexit has affected the spending power of customers as many
lost their jobs and procurement of materials has become costlier. The recession has impacted the
purchasing power of consumers which intact affected sales of organization. Thus, shifting their
focus on more cheaper products and services offered by small retailers and shop keepers.
M&S needs to implement strategies for achieving competitive edge over others by
pricing differentiation and quality products as well as customer services which will provide
satisfaction to consumers (Kaff, 2011). The company needs to devise such pitching strategies so
as to build an image and position its products in the marketplace to grab more and more
customers. The company needs to continuously evolve its process to render quality products to
consumers by making them loyal to the company thereby increasing their level of satisfaction. It
should emphasis on developing those skills and attributes which are unique to the company and
brings a feeling of gratification for users buying products and availing services.
Thus the process of pitching help company rebuild its image in a concrete manner so as
to accomplish competitive advantage in a sustainable manner.
P6. Potential outcomes of a pitch.
Outcome of a pitch process will outline various steps so as to help organizations. Every
pitch has a specific purpose to be fulfilled. It is rendering of new or another business plan
verbally by personnel to all shareholders and investors (Kaff, 2011). Pitching in business refers
to making strategies so as to carry out proposals in a suitable manner. Pitching outcome helps
process plans in an effective an efficient way. Every business needs to adopt pitching so as to
build an image in the market and motivate stakeholders to perform better.
Marks and Spencer uses pitching to help shareholders achieve business strategies in a
competitive manner (Spring, 2017). Pitching help investors make decisions regarding investment
in a company which is a beneficial task for both investors and organization. Shareholders and
investors at M&S are informed about various processes and systems of company which help
them take better decisions in an appropriate manner. A well informed investor will provide
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approval for any project undertaken by the company. The investors at M&S keeps a close check
on various activities of the company. Pitching is a process which enhances their control over
company.
The company focuses on planning of new business through involving pricing strategies
which needs shareholders approval and it is obtained through pitching in a corrective and
effective manner. The cost leadership strategy of company is discussed with investors verbally so
as to carry out the process of pitching (Hopmann, 2014). Cost leadership plays important role in
pitching and as such, Marks and Spencer are required to provide effective oral presentation to
investors in order to carry out the process of pitching in effective way. Pitching by leaders of
organisation will help investors to understand plan of business in the best possible way and as
such, interest of them can be gathered quite effectively. Outcome of pitching in business
organization refers to effective implementation of plans involving investors and leaders so as to
ensure success.
P7 Fulfilment of obligations using pitch.
Organizations fulfil various causes using pitching which helps achieve competitive
advantage. Though various issues are incorporated while using pitching for accomplishing
organizations perspectives. As pitching involves sharing every information with shareholders
affects organizations ability to work effectively as investors will interfere in every aspect which
will hamper its working (Negotiation, 2018). Marks and Spencer needs to evaluate strategies to
inform investors and shareholders only specific data which is essential for their perusal. At
Marks and Spencer negotiation is a crucial task as company believes its stakeholders are
important and thus any conflict amongst them needs to be solved in a comprehensive manner
which satisfies both the parties thereby motivating them. Thus mangers at M&S is required to
control activities so as to achieve competitive advantage thereby satisfying both customers and
shareholders.
Differentiation and leadership of cost helps in earning profit for the company but had a
negative impact on consumers which needs to pay more for the same product. The customers
may shift to other retailers and shopkeepers if prices are different for identical products and
services. Another aspect of pitching which will hamper organizations image is differentiation of
products (Kaff, 2011). M&S needs to provide differentiated products and services to its
customers so as to achieve competitive advantage and success in the long run. Though
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differentiation of products require cost to be invested by company so as to render different and
unique goods and services to users.
The vital process to be undertaken is to design clear pitch which enables related persons
to understand it in the best possible way (Vasudevan, 2014). It involves making the basic point
clear and concise so as to achieve competitive advantage by adding on other essential
components later on. To make process of pitching a successful task, leaders needs to control
execution of information in a relatively smaller context so as to make things clear. Issues
resulting due to pitching could be controlled through this act of management.
CONCLUSION
The report concludes the importance of stakeholders in the process of negotiation as
mutual decisions are taken for the resulted disputes. Every stakeholder is vital for the success of
negotiation process. Though various steps needs to be followed for processing negotiation in
Marks and Spencer. This process involves requesting for proposal and signing of contract for
implementing it successfully. The RFP is a structure followed at M&S to decide on suppliers of
raw materials and other products by negotiating with them on prices and technical terms. This
system helps M&S achieve bargaining power and set a price suitable to it thus saving a lot of
cost which would incurred buying from other providers. Lastly, the role of pitching and its
impact on Marks and Spencer has provided the company competitive advantage over
competitors.
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REFERENCES
Book and Journals
Demarr, B. and Janasz, S., 2014. Negotiation and Dispute Resolution. Pearson.
Falcao, H., 2010. Value Negotiation: How to finally get the win-win right. Pearson.
Fisher, R., 2012. Getting to Yes: Negotiating an agreement without giving in. Random House
Publishing.
Hopmann, P.T., 2014. 2 The verification debate and its effects on the negotiation process.
Banning the Bang or the Bomb?: Negotiating the Nuclear Test Ban Regime. 14(5). p.32.
Jun, J. and Kyle, G.T., 2011. Understanding the role of identity in the constraint negotiation
process. Leisure Sciences. 33(4). pp.309-331.
Kaff, O., 2011. Pitch Anything: An Innovative Method for Presenting, Persuading and Winning
the Deal. McGraw-Hill.
Philip, K., 2014. Marketing Essentials. A brief course: Translated from
English. Moscow:“Williams” Publishing House. 496.
Spring, M., 2017. Creating the competitive edge: A new relationship between operations
management and industrial policy. Journal of Operations Management. 49. pp.6-19
Vasudevan, M, 2014. A study on the customer satisfaction towards the retail marketing mix
offered by the select organised multi brand retail outlets with special reference to
Coimbatore city. International Journal of Management, IT and Engineering. 4(11). p.80
Online
Negotiation. 2018. [Online]. Available through: <https://ru.123rf.com/>.
The Contracting Process. 2018. [Online]. Available through:
<https://rgw.arizona.edu/administration/negotiation-and-acceptance/contracting-process>
What’s the best way to negotiate during the RFP process. 2018. [Online]. Available through:
<https://www.deltabid.com/procurement-negotiation-rfp-process/>.
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