David Game College: Negotiation and Pitching Skills for Business

This report provides a comprehensive guide to business negotiation, encompassing key steps, the importance of negotiation, and the identification of key stakeholders. It delves into the crucial steps and information required for effective negotiating and deal generation, highlighting the skills required by negotiators, including communication, listening, and understanding the interests of all parties. The report also explores ways to secure favorable contracts and generate new business, including tendering processes, types of tenders, and the significance of the Request for Proposal (RFP) process, including creating business proposals and understanding contractual agreements. The document also covers the importance of preparing for negotiations, and the role of key individuals in the negotiation process, including the need for critical thinking to ensure positive outcomes for the businesses involved. Finally, the report references academic sources to support its analysis of business negotiation.

Business
Guide

Table of Contents
Negotiation.................................................................................................................... 3
Key steps for negotiating and generating business deals...........................3
Key individuals in a negotiation...........................................................................4
Ways to gain best contracts and ways to generate new business and
win deals........................................................................................................................ 5
Tendering for contracts........................................................................................... 6
Preparation of negotiation through request for proposal (RFP) form..7
Responding to RFP- creating business proposal and the contractual
process and agreement
REFERENCES................................................................................................................... 8
Negotiation
Negotiation process regarding a business can be said to be a process in
which two were more business organisations have two agree upon the same
decision which might bring a conclusion or solution to the conflict which has
priced in all of these firms. There is often seen that there a prolonged a
disagreement in various businesses due to which both the businesses face a
number of losses and issues. The negotiation process is due to an unavoidable
problem of business operations or business activities in any business organisation.
These conflicts or problems may be influencing the negotiation to initiate
within a business so that the conflicts can be solved for the business organisations
(Han, 2020). The key factor for the need of negotiation maybe that both the
business is operating in same dimension. The negotiation process needs to solve
these conflicts between the two parties. Negotiation also takes place when the
parties involved think that coming to a negotiation point, we help both the parties
in earning more profits and running their business successfully. It is also seen that
many a times the dysfunctional conflict situation in a business need negotiation
processing business so that they can operate together instead of having conflicts
Key steps for negotiating and generating business deals
There are a number of skills regarding negotiation which are to be
developed in a business. A valid strategy is to be used in order to develop
negotiation skills. Major factors are not only coming to compromise but making
both the parties happy. It is often seen that people come to negotiation point by
using a zero-sum process. In this the parties find what are their needs and how can
the problem be solved so that both of them understand the situation appropriately.
When there is a failure to negotiation it is often due to both parties not being
satisfied from the solution or outcome.

It is necessary to see that the people in an organisation make a difference.
The negotiator needs to understand the importance of human resource (Dinnar and
Susskind, 2018). They need to understand the behaviour as well as reaction of all
the parties who are involved in a negotiation. They also need to understand how to
communicate to all these parties in an appropriate manner. Effectively skilled
negotiator hours required can change their communication style as per the need of
the parties and the way in which they may understand the information.
Another major skill required by a negotiator is to have a good listening
power. They need to understand the interest of all the business parties were
involved in negotiation. They have to make sure that of interest of both the
business is understood. It is often seen that tone of voice have great effects on
understanding of a person. The negotiator has to understand the tone of voice when
negotiating and listening to the issues arising in all the business parties who are
related to a particular business conflict or issue
Key individuals in a negotiation
There are a number of roles involved in a negotiation. This does not have a
negotiator is the key person but ultimately those people who will be affected by the
negotiation process. It is necessary to identify various benefits out of negotiation
and also business opportunities that might come out from a negotiation deal. And
efficient negotiator who have good listening power can easily influence negotiation
parties and carry out the negotiation process. It is the duty of the negotiator to help
in making sure that the process of negotiation is smooth and works in a flow. It is
required by a negotiator to understand what is actually required and make sure that
the determine and accomplish all the goals of negotiation. Good negotiator can
easily deter mine the weaknesses which are present in the respective negotiation
process and they understand when do they need to need to process and respond so
that the entire process of negotiation can be carried on effectively and efficiently.
It is the duty of negotiator to make sure that they keep the negotiation process
capable enough to make sure that they can bring sustainability to the business organisation
involved in negotiation. It is necessary that there should be good critical thinking in order to
make sure that the prediction of progress of business organisations from the actions taken
actively. These actions usually determine the performance of business after the negotiation
process and the effects of negotiation on the business organisation. It is even possible that
rather than bringing justice and success to the business the negotiation can make the business
powerless or a failure.
It is the duty of key individuals or she shall process to make sure that the impact of
process on organisation after the conclusion of all the actions of negotiation is always
positive (Williams and et. al., 2020). It might bring satisfaction to all the parties and business
organisations who are involved in the process of negotiation. It can only be done with the
help of the individual in the negotiation process. The suggestions of all the parties in a
negotiation process is to be critically analysed by the negotiator. It is also seen that not all the
parties in the negotiation process will always be happy and satisfied with the end of the
session which is taken in negotiation and solutions must not fulfil the needs of everyone. The
key negotiator or the key person in negotiation make sure that without any bias or prejudice
the negotiation process is carried on smoothly.
Ways to gain best contracts and ways to generate new business and win deals
There are some of the rules to a powerful negotiation skill. Negotiate a need to
analyse negotiation process in order to achieve result from negotiation. One of the major
steps of negotiation is asking for more than the negotiator expect. It is required by negotiator
to ask for impossible so that he might get the best out of negotiation. Even if the deal is
simple it is needed by negotiators to make sure that they are asking for much more. Emotions
can usually cancel the deals. Another step-in negotiation is to avoiding any confrontation. It
is necessary to have trust in the organisation in order to carry out negotiation. It is necessary
that the other side should be in a good position so that all the facts can be brought inside
which will help in strengthening the case of a negotiator.

The next step in negotiation can be to be reluctant. It is not advised to give up
easily in order to get the better offer. It is necessary that the negotiator understands
that the organisation can do better than what they have already offered. The next step
is to leverage the urgency. 80/20 rule can be applied in negotiation. This means that
80% of concession will be finalised and the last 20% of the concession can be given
some time.
Tendering for contracts
Tendering can be said to be a process in which a number of business
organisation bid for a similar project. The aim of all the business in the tender process
is to make sure that they can take over the speed. There are a number of limits and
conditions which are to be significantly fulfilled in order to be in the execution of
tender by various business organisations. An example can be taken via business
organisations need to complete the tender in a specified date or in a given deadline in
order to accomplish all the business objectives successfully. There are a number of
business organisations who take part in this tender and make sure that they operate in
the similar industry without having any conflicts between them
It is generally seen that there are a number of types of tender in a business
association activity. It is the duty of the organisation to make sure that they choose
the proper tender for them which will help them to grow and also the nature of the
contract is built in such a way that it fulfils the object use of business organisation
(Blount, 2020). It is also saying that there is a lot of expertise need in the tender
process which every business needs to follow along with which there are also certain
requirement of resources as well as capital business.
The tender provided by government which are open are the basic categories
of tender. A tender can be either fully governmental or for the private sector. Usually
the offer of tender is provided in the local newspaper along with all the details and
give information regarding the work which is included in the tender. Secondly
major type of tender is a selective tender. In this a business is creating a list of
contractors who are only invited to submit these tenders. This is not available for
every business organisation in the industry. The submitted tenders are critically
evaluated in order to choose to whom the tender must be given.The third type of
tender is a two stage to tender. In such type of tender a contractor is already chosen
earlier when the design process of tender is made depending upon the competency of
various contractors.
Preparation of negotiation through request for proposal (RFP) form
There are a number of such key contractual agreements process which helps a business
to assure that there is an effective outcome or positive result from the negotiation process. These
steps usually include to thoroughly investigating both the businesses and all the parties who are
involved in tender or contract. Is this all the business organisations, their backgrounds as well as
profits and business relationship with everyone is also evaluated (Renihan, 2020). It is also
required to work with the representative of a particular business organisation in order to make
sure that all the obligations of contract are met. In this the scope of proposed business
relationship is identified and all the contracts and the documents which are related to the
negotiation are analysed critically.
Responding to RFP- creating business proposal and the
contractual process and agreements
There are a number of steps involved which an individual should follow with include
scheduling for drafting, review, decision, revision as well as completion of the requirements
regarding the contract. The discussions which are made with the representative of the company
who is carrying out the role of contractual agreement process is also an essential part of a
contract. There is also a need to prepare an initial draft for the respective number of contracts
when all the associations have documented the requirements for the tender or negotiation.

REFERENCES
Books and Journals:
Mejia-Arauz, R, and et. al., 2018. Collaboration or negotiation: Two ways of
interacting suggest how shared thinking develops. Current opinion in
psychology. 23. pp.117-123.
Han, S., 2020. Policy experimentation and power negotiation in China’s higher
education reforms. Higher Education. 79(2). pp.243-257.
Dinnar, S. and Susskind, L., 2018. Entrepreneurial negotiation: Understanding and
managing the relationships that determine your entrepreneurial success.
Springer.
Williams, S.D. and et. al., 2020. Narratives of International Women Entrepreneurs:
An Exploratory Case Study of Identity Negotiation in Technology
Startups. IEEE Transactions on Professional Communication. 63(1).
pp.39-51.
Blount, J., 2020. INKED: The Ultimate Guide to Powerful Closing and Sales
Negotiation Tactics that Unlock YES and Seal the Deal. John Wiley &
Sons.
Renihan, C., 2020. Pitching Opera: Innovating New Music Theater at Banff and
Stratford, 1970–1990. Journal of the Society for American Music. 14(1).
pp.33-50.
Blount, J., 2020. INKED: The Ultimate Guide to Powerful Closing and Sales Negotiation
Tactics that Unlock YES and Seal the Deal. John Wiley & Sons.
Renihan, C., 2020. Pitching Opera: Innovating New Music Theater at Banff and Stratford,
1970–1990. Journal of the Society for American Music. 14(1). pp.33-50.