Business Report: Negotiation and Pitching Skills at Marks & Spencer

This report provides a comprehensive analysis of pitching and negotiation skills within a business context, using Marks & Spencer as a case study. It defines negotiation, explains its importance, and identifies key stakeholders involved in the process. The report delves into the steps organizations should take during negotiation, including preparation, information exchange, clarification, bargaining, and implementation. It also discusses the Request for Proposal (RFP) process, outlining essential documents and steps. Furthermore, the report explores contractual processes, required documentation, and methods of management and monitoring. It then focuses on crafting effective pitches, emphasizing key principles for achieving a sustainable competitive advantage and recommending potential pitch outcomes. The report concludes by examining post-pitch obligations and highlighting potential issues that may arise. The content covers topics like business development, negotiation, pitching, RFP, and contractual processes, offering valuable insights for students and professionals alike.

Pitching and
Negotiation skills

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1. Define negotiation, why it occurs and the key stakeholders during the period of
negotiation process.................................................................................................................1
TASK 2............................................................................................................................................3
P2. Discuss in detail steps that organisation required for the negotiation process and
information required in preparation........................................................................................3
TASK 3............................................................................................................................................4
P3. Discuss the RFP process and outline key documents required........................................4
TASK 4............................................................................................................................................5
P4. Discuss contractual process and key documentations required and how they managed and
monitored................................................................................................................................5
TASK 5............................................................................................................................................6
P5. Write the appropriate pitch and the key principles to achieve sustainable competitive edge
................................................................................................................................................6
TASK 6............................................................................................................................................7
P6. Recommend potential outcomes of a pitch......................................................................7
TASK 7............................................................................................................................................7
P7. Discuss the post pitch obligations and highlight the potential issues that can occur.......7
CONCLUSION................................................................................................................................8
References:.......................................................................................................................................9
Books and Journals.................................................................................................................9

INTRODUCTION
Pitch is considered as a business plan that was presented verbally to create more sales and to
gain the potential interest of the investors for the business regarding the particular product or
service. It is imperative part by which organisations make their clients aware and compare them
for the adequate actions (Gianiodis, Markman and Espina, 2017). Basically pitching and
negotiation skills are important in today's organisation to win new contracts and customers on
the basis of some agreeable conditions. Organisation considered negotiation and pitching is
essential in order to support in the managing entire business process and to drive the innovation
in the work force. The present report is based on Marks and Spencer top most clothing brand
along with retail firm. The forth will explain negotiation and the key stakeholders during the
negotiation process along with the steps required for negotiating. The report also outlined the
RFP and contractual process and relevant documentations required for processes. Report will
develop appropriate pitch by applying the key principles of sustainable competitive advantage
and then analyse the potential outcomes of the pitch and the obligations from the pitch by
identifying the potential issues that can occur.
MAIN BODY
TASK 1
P1. Define negotiation, why it occurs and the key stakeholders during the period of negotiation
process
Negotiation
Negotiation is an appropriate process by which organisation resolve their differences and gain
benefits from an individuals and collective as well. In an organisation business negotiation is a
systematic process between the two parties each with its own viewpoints, perspectives, needs
and aims trying to discover a common solution or ground to reach an agreement where both the
parties settle a matter at a mutual concern in order to resolve a conflict and exchange the values.
Basically negotiation is a way to resolve the differences and disputes by reaching to a mutual
agreement (Pitcher, 2019). For the negotiation process negotiation skills are important in a
business during day to day interactions and format transaction negotiated and conditions like
legal, contracts, service, delivery lease, sales etc. A good negotiator with efficient negotiation
skills helps the organisation to significantly resolve the dispute for the business success.
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Reasons behind Negotiation
In an organisation negotiation is known as a compromising situation among the individuals
under the particular issue or a dispute that can arise while running an organisation. Generally
negotiation occurs during the buying and selling of products and services or during decisions
regarding the legal contracts or leases. Some of the reasons due to which negotiation acres are
discussed below:
 To resolve the conflicts or disputes: finding the solutions of the disputes in an
organisation is the main reason behind the occurrence of negotiation process because
conflicts can create a several kind of situations that can lead the organisation to loss.
Therefore in an organisation it is very important to find the proper and appropriate
solution for the critical and complex situations which can be a barrier for running an
organisation. Marks and Spencer always consider negotiation process while allocating
their works among their employees or to make a deal and optimise the resources during
the operations at the workplace because negotiation helps the organisation to take a better
decisions for resolving those issues in a well manner and to achieve the set of goals or
targets by utilising the available resources.
 For creating win- win situation: in order to settle down the problem in more efficient
manner negotiation and pitching skills are required within the form as this is effective in
helpful component that supports suitable actions which can create a possible situations
for the Marks and Spencer like Win-Win in the organisation. As this provides benefits to
every individual involved in the negotiation process by making the favourable decision.
 Different behaviour and perspective: there are the number of workers and employees in
an organisation with different mindsets, behaviour, nature and viewpoints become a
major reason for the negotiation in an organisation. In order to promote diversity of
behaviour and to boost the morale of employees negotiations process bring the mutual
agreement between the employees that helps the organisation in increasing the
productivity and make them feel motivated and valuable in the workplace. The manager
of Marks and Spencer find negotiation process as a most edited process to resolve the
dispute between the Employees with different mindsets and to make the employees
understand each other’s viewpoints with the help of negotiation skills (Dinnar, and
Susskind, 2018).
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Key stakeholders
Stakeholder is the individuals or the group of people who are involved directly or indirectly
in the conflict and possess an interest in outcome of an event. Key stakeholders during the
negotiation process participates in process of bargaining and are responsible for influencing in
carrying out the process of negotiation by communicating for the need of mutual agreement.
Men with key stakeholders in an organisation during the negotiation process are customers,
employees, investors, suppliers, and the top management of an organisation. Basically these
stakeholders are considered to be the two parties for responsible for carrying out the process of
negotiation and important for the probable outcomes that required to be taken in order to bring
successful and mutual agreement between the parties as a result of negotiation (Smith, and
Viceisza, 2018).
TASK 2
P2. Discuss in detail steps that organisation required for the negotiation process and information
required in preparation
In order to carry out a negotiation process between the two or more parties they have to
undergo certain steps to make the certain choices which directly affect the result of the
negotiation process. In order to produce a favourable outcome it is very important for the
organisation to undergo and understand the process of negotiation as the success of negotiation
totally depends upon planning and preparation done for the process and the strategies and tactics
involve in executing that process therefore they are the certain steps for the negotiation process
that are mentioned below:
Prepare: preparation of a negotiation is a first and foremost stage for the negotiating process and
generating a deal. This step includes preparing both the parties for the discussion and identifying
the possible and potential tradeoffs and to determine favourable and desired outcomes for both
the parties. In this stage the Marks and Spencer will put all the ground rules regarding the
bargaining for the negotiation over the table such as determining when, where, with whom and at
what time frame the negotiation will take place.
Exchange information: the parties will exchange their terms and conditions regarding the
negotiation at the initial position. This site will be allowed to share their interest and concern
without any interruption regarding the negotiation such as their aims to receive at the end of
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negotiation and what they feel about the negotiation process (Dlačić, Damnjanović and Ribarić,
2017).
Clarify: this is the third state which both the parties will continue to discuss regarding each and
every aspect of negotiation and justify each other’s information and bolstering their claims in
order to clarify any doubt. Is any set of any disagreement then the description will be continued
in a calm manner and to understand each other’s point.
Bargain and problem solving: this is a state fair negotiation is made both the parties and begin
given take process where both parties offer each other’s proposal in order to counter there
problems and manage their concessions. The goal of this step is to create a Win-Win situation for
both the parties by giving a positive course of action.
Conclude and implement: once an acceptable solution has been agreed upon both the sides will
thank each other for the discussion and conclude the process of negotiation by entering into a
good long term relationship where the both the parties will implement mutually agreed positive
negotiation terms where both the parties ensure that the compromise will be implemented
effectively.
TASK 3
P3. Discuss the RFP process and outline key documents required
The RFP stands for request for proposal which is basically a formal request in which
organisation ask their vendors to demonstrate and submit a proposal that represents the products
and services they are proposing and how they address the needs of more than one issuers of key
business (Palmer, Owens and Doubleday, 2019).
It is a kind of bidding proposal plan by which Marks and Spencer announce their financial
resources and budget regarding the particular project.
Gathering RFP requirements: RFP requires the partnership for which a good partner is required
a vendor is required to provide the background and context to understand the needs of the
business. The RFP should tell the vendors about the problems that a legal entity can address.
Crafting your RFP: there are dozens of questions that are required to be simplified for which
crafting of a RFP is very necessary that will answer the questions. With the help of the
information’s collected from the stakeholders RFP questions are crafted that helps in selecting
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the best vendor and also increase the on time completion. The crafting of RFP question should be
in the form of yes/ no format.
Shortlist the vendors: after the proposal submitted by the vendors the RFP issuer can start the
initial evaluation in which the qualified vendors will be shortlisted on the basis of their strength
and in depth comparison.
Follow up with shortlisted vendors: in this stage the vendors will be allowed to you have
discussions with the issuer they will explain how their products and services are good and differ
from the rest of the competitors. This will provide an issuer a correct and a clear vision for the
further process (Sheldon, 2019).
Final selection and completing contract: on the basis of information collected during the follow
–up process the issuer will make the final selection with the strategic scoring process and then
the full documentation will be collected of the vendor in order to complete the contract.
Documents required for the RFP process are
SOW (statement of work)
Request of quotation
Terms and condition
TASK 4
P4. Discuss contractual process and key documentations required and how they managed and
monitored
Contract management
has taken a bigger role
in day to day tasks as
businesses
5

work towards increasing
productivity without
increasing their
employee
numbers.
Contract management
has taken a bigger role
in day to day tasks as
businesses
work towards increasing
productivity without
increasing their
employee
numbers.
6

Contract management
has taken a bigger role
in day to day tasks as
businesses
work towards increasing
productivity without
increasing their
employee
numbers.
Contract management
has taken a bigger role
in day to day tasks as
businesses
work towards increasing
productivity without
7

increasing their
employee
numbers.
ontract management has
taken a bigger role in
day to day tasks as
businesses
work towards increasing
productivity without
increasing their
employee
number
Stage two : author the
contract :
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“When authoring the
terms of a contract, it is
important to pay
attention to
specific wording. Any
ambiguity leaves
contracts up for
interpretation. State and
country laws will need to
be taken into
consideration especially
if the two parties
are in different locations”
All the business agreement of finalize with the help of a contract that mitigate the risk of
conflicts between the relationship of the two parties. Current business organisations contract
management has been a big role where all the small activities of the business between the
employees investors and the other management of the organisations are conducted with the help
of the contract that helps the organisation in taking the decisions faster maximizing their strategy
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to accelerate and automate deals. The process of contract includes five stages that are discussed
below:
Contract preparation: in this stage Marks and Spencer will organise and prepare all the resources
identify the needs, reasons and the ultimate goals that are required for the contract (Mejía-Arauz
and et. al., 2018).
TASK 5
P5. Write the appropriate pitch and the key principles to achieve sustainable competitive edge
Key principles to achieve sustainable competitive advantage are:
Establish brand loyalty: establishing a brand loyalty is very important because customers and
investors mostly attract towards a brand even the company offers high price and most effective
products.
Patent your product: in order to gain a sustainable advantage it is very important to protect the
product, service, designs order process in order to maintain the originality, utility and suitability
of the product with the help of intellectual property rights.
Continually innovate: customers and investors show their interest in those companies that
continue to innovates and brings fresh ideas and products into the marketplace.
Use long term contracts and incentives: establishing long-term contracts and incentive for the
employees, customers and investors clears is a clear example of a competitive advantage because
customers and employees are less likely to switch to the competitors.
Hire connected team members: hiring of the connected team members like large companies
government departments helps the organisation in accelerating their productivity and fostering
their achievement towards the goals (Matziou and et. al., 2018).
Pitch of Marks and Spencer
Our pitch is to create and make environmental friendly innovation the new normal. What would
it take to make world a common place with environmental friendly innovation? Businesses are
seeking opportunities to meet and exceed the sustainability in their goals and targets. At Marks
and Spencer we are committed develop and innovate new products that are ecologically build
produced designed to build environmental friendly workspace. We started with small team and
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