Tesco PLC: Negotiation Skills, Deal Generation, and Pitch Outcomes

This report provides a comprehensive analysis of negotiation skills and their application within a business context, specifically using Tesco PLC as a case study. It delves into the importance of negotiation, outlining key stakeholders such as top executives, customers, suppliers, and shareholders. The report explains the negotiation process, including planning, information exchange, bargaining, and conclusion, emphasizing the importance of transparency and effective communication. It also covers the Request for Proposal (RPF) process, detailing the required documentation and contractual processes, including how documentation is managed and monitored. Furthermore, the report explores the development of effective pitches, highlighting key principles for achieving a sustainable competitive edge, potential outcomes of pitches, and how organizations fulfill their obligations, identifying potential issues. The report concludes by emphasizing the significance of negotiation skills in fostering positive relationships, innovation, and overall business success, offering valuable insights for business development strategies.

Negotiation skills

Contents
INTRODUCTION...........................................................................................................................1
Part 1................................................................................................................................................1
Negotiation and why it occurs and who the key stakeholders are during a negotiation process.1
Key steps and information required for negotiating and generating deals..................................3
RPF process and relevant types of documentation required........................................................4
Contractual process and how relevant documentation is managed and monitored.....................4
Part 2................................................................................................................................................5
Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge..............................................................................................................................................5
Potential outcomes of a pitch.......................................................................................................6
How organization fulfil their obligation from a pitch, identifying potential issues that can
occur............................................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Negotiation consider as an important method by which individual easily settle difference.
Mainly, it is a process through which agreement and compromise can be reached at the time of
avoiding disputes. Thus, it is important for manager of the company to having effective
negotiation skills which may help in dealing all the contracts in systematic way (Chang and
Rieple, 2013). By using this concept business organization can easily serve quality products and
services to its customers. In business organization is able in negotiation skills then they easily
communicate with their stakeholder and also maintain positive relation. Present report is based in
the Tesco plc which is famous British multinational groceries and general merchandise company.
The main focus of this firm is to serve best quality products to its customers as per their needs
and wants. Report discussed about negotiation and the process of key stakeholders. Along with
this, RPF process is also mentioned in this project which may contribute in improving overall
performance of the company at market place. At last, potential outcomes of a pitching are also
discussed here which may contribute in attaining sustainable competitive edge.
Part 1
Negotiation and why it occurs and who the key stakeholders are during a negotiation process
Negotiation is consider as an action of settle down the issues and disputes among the
companies and stakeholder as well. In this, two parties are includes for establishing better
relation with each other. With the assistance of this, company can easily reduce the chances of
arising issues within the business function and also improve their overall performance. Along
with this, transparency is also important in negotiation among two companies so that they can
easily avoid negative activities between them. The main advantage of effective negotiation skills
is to maintain as well as build positive atmosphere and relationship within the companies
(Cremades, 2016). In context of Tesco plc, they use negotiation process in every day business
activities to effectively deal with their customers, workers, suppliers and stakeholders as well. As
there are some benefits of negotiation for business organization are as follows:
 Negotiation help Tesco to bringing innovation in products by connecting with target
customers.
 It may build positive and healthy relationship with customers that increasing the
customers base of the company for longer period of time.
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Apart from this, negotiation is occur in every business organization whether it is small ,
medium or large. It is effective for company to improve their performance level (Dawson, 2014).
With the help of this both parties can easily reach to effective outcomes and also reduce the
chances of arising any kind of issues and dispute as well. In context of this, there are some
outcomes that may attain through effective negotiation:
 Win-win situation: Under this situation, both parties get equal benefits at the time of
negotiation activities.
 Win- lose situation: In this negotiation, one party attain more and more benefits to others
party.
 Lose-lose situation: Under this situation two parties are bind by the laws as it loosing the
benefits while ending up the deal.
Furthermore, there are some factors of negotiation in Tesco plc which may lead in
enhancing the productivity level of the company:
 The main focus of Tesco plc is to deliver quality and wide range of products at their
outlets. In this they needs to communicate with their customers and brand as well to offer
quality products as per their demands.
 Negotiation occur when the Tesco plc decide their product price with their suppliers and
distributor as well. This will increase the profitability level of the company at market
place.
Key stakeholder in the process of negotiation:
Mainly, negotiation process includes two parties who have good skills and knowledge
towards the deal so that they can easily attain appropriate results for the company (Healy, 2011).
In context of this, there are some key stakeholder which includes in the process of negotiation:
 Top executive of Tesco
 Customers of the company
 Suppliers
 Mediators
 Shareholders and many more
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Key steps and information required for negotiating and generating deals
Negotiation is an effective process of eliminating any kind of issues and confusion
among all parties and members of the company (Hill, 2017). With the help of this, organization
bring innovation within their activities and products as well. In context of Tesco plc, there are
negotiation process that contribute in dealing with dealing issues:
Planning and preparation: It is one of the important stage in which Tesco plc fix
negotiation pitch. In this, organization also evaluate as well as discover best deal that may
support business organization to attain positive outcomes. In this context, there are some
important component that implement by the Tesco plc before implementing negotiation:
 Proper information towards the another party includes in negotiation. As it includes about
the financial position, strategies, qualities and many more.
 Appropriate information towards the negotiation topic that use for discussion.
 Goals of the organization deal.
Information exchange: Under this stage, two parties are tries to influence each other by
representing report. Along with this, all the results and issues are communicate within the stage
which may aid in exchanging the information in appropriate way. Thus, it is also important that
all the information have to be authentic which may improve the performance level of the Tesco
plc at market place.
Bargaining: This stage includes communication and consulting about the deals and its
condition as well. In this, both parties are determine the purpose of dealing the win win results in
appropriate manner. In context of Tesco plc, they needs to determine the clear objectives for the
business organization. Along with this, the main role of stakeholders in Tesco is to effectively
deal with the contract by bargaining. By this they easily drop the exchange on the basis of their
advantage of deal in most effective manner.
Conclude: Under this process, Tesco plc and another party will conclude all the activities
by presenting their personal objectives and views (Horton, 2016). Along with this, all the paper
work will be effectively done with the aim of attaining larger customers. With the assistance of
this company can easily attain success at market place.
Execute: It is last and effective stage of negotiation through which both parties can easily
analyse the results. By this, company make situation more effective and appropriate by
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effectively planning the strategies (Nudelman, 2017). In this the response might be clear and
adequate so that parties can easily execute activities for attaining desirable results.
RPF process and relevant types of documentation required
It it important for business organization to includes all the required document before
implementing the process of negotiation. In this context, Tesco use diverse techniques to
effectively execute the entire function of the business that may contribute in managing issues and
dispute in most effective manner. As there are some effective process of RPF related with the
type of required documentation:
Determination of recruitment: It is important for every business organisation to includes
capable and able workers to effectively undertake all the end goals and objectives. For this
company recruit and enroll talented workers within the business activities to effectively perform
all the job roles in most effective manner. With the help of this company can easily satisfy clients
needs and wants.
Communication strategy: Interaction play vital role in sharing as well as delivering
appropriate information to the clients and provides with the aim of building positive relation with
their clients. With the assistance of this, manager of Tesco plc is to prepare an effective plan to
make all the activities more effective. Effective strategy of communication may contribute in
making negotiation process more effective.
Evaluation criteria of factors: It is also an important aspect which may encourage
business organization to evaluate their major factors that includes at the time of RPF process.
With the help of this, manager of the company can easily attain set goals and objectives in
appropriate time frame.
Contractual process and how relevant documentation is managed and monitored
Contractual process consider as an important aspect which used by the business
organization to manage as well as control risk and dispute as well. Mainly, it includes various
factors which impact on the entire business activities and work environment. Thus it is important
for Tesco to effectively analyse factors with the aim of establishing positive and healthy relation
with another business organisation in appropriate manner (Paço, Ferreira and Raposo, 2016). In
context of this, there are some commitment which includes in contractual process of Tesco in
order to manage all the documentation activities:
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 Tesco needs to perform all the activities on the basis of its agreements and contracts as
well.
 Business organization also collaborate their function with another firm with he purpose of
attaining set goals and objectives of the market.
In context of this, contract process is also may effective for the business because it start
after finalised the contract. Mainly, it includes the various stages like request, generate,
negotiation, approval, search, comply and review as well (Rich, 2013). Furthermore, there are
some recommendation foe effectively making successful tender such as, effective use of
template, make clear structure of tender document, give relevant information, determine the
selection criteria, select right references, submit of tender on right time. All these are the
appropriate ways to manage and monitor all the documents in most effective manner.
Part 2
Develop an appropriate pitch applying key principles that achieve a sustainable competitive edge
Pitch is consider as an important procedures through which business organization can
easily interact with their workers at workplace. With the help of this, employees can easily get
inspire and improve their working performance to attain et goals and objectives. In addition of
this, it is vital for person who perform in organization having best abilities and skills to
effectively interact with the clients and partners as well. Having adequate fund is also important
for business organization to effective serve best services to clients in appropriate way.
Furthermore, stakeholders is also ought effective process to remove the complexities at the time
of attaining goals and success as well. It may provide better opportunities to the business
organization to attain future success. Thus, it is crucial for re-presentor to includes all the
relevant applications and information so that the overall display can be easily provide to the
investors. It directly contribute on the audiences in positive way.
Apart from this, presentor is also implement the accessible data to improve the
effectiveness of the presentation. With this assistance of they can easily draw an appropriate
outcomes. In context of this, various issues are also face by the presentor at the time of giving
presentation (Schech, Skelton and Mundkur, 2016). By this individual can easily manage issues
by using effective strategies and procedures as well. Furthermore, firm can increase
measurement of the benefits in order increase their effectiveness of the operational activities in
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most effective manner. For attaining the positive outcomes, stakeholders needs to take actions
and decision to influence partners to attain end goals and outcomes in most effective way.
Potential outcomes of a pitch
It is important for business organization to effectively analyse all the factors that directly
impact on their overall performance of the company (Teckchandani and Obstfeld, 2017). For
this, management of the company is also responsible for preparing plan and strategies so that
they can easily deal with situation. In this context, investor is also play as an important role in
evaluating the factors with the aim of making appropriate decision towards the investment
decision. There are some potential outcomes of pitch that may include in the Tesco business
activities:
Acceptance: Number of factors are directly influence the entire activities of the decision-
making process. Thus, it is vital for business organization to effectively manage of all the
activities so that they can easily sustain their success at market place. Along with this,
organisation needs to deal with factors that are important for pitching. In context of this, elevator
pitch is also important element in which person have appropriate skills to influence another
person. As it is necessary for individual to sign the agreement after reading the term and
condition. If they are agree than they sign agreement
Rejection: It is also an effective factor which is known by non-useful through which
investor dismiss venture knowledge. Mainly it occurs when procedures and strategies are used
for communication that negatively impact on the decision of speculator of venture. Thus, it is
important for business to manage this factor and also recognise all the channels of
communication with the aim of improving knowledge towards the deal and contract as well.
No response: It is also an important factor which may help business organization to attain
desired goals and objectives in most effective manner. As every component consider in viable
way through which company make effective decision that directly contribute in attaining
desirable goals and objectives. Furthermore, detailing data is also may helps business
organization to attain future growth at market place.
Come bake letter: Under this, business organization needs to evaluate the activities that
are directly impact on the working system (Cremades, 2016). Thus, organization required to set
all the view point that may encourage in overseeing all the things is most effective manner. With
the assistance of this, company can easily attain positive outcomes in appropriate time frame. For
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example, if manager of the Tesco plc are not agree with all the beneficial results than they have
to utilize appropriate attributes to established their positive position at market place. By this,
company can easily capture customers reliability which may improve the appropriate end goals
and objectives in systematic manner (Hill, 2017). Along with this, for attaining set goals,
organization needs to set required assets that purchase by the company to effectively execute the
plan and activities in compelling way. Thus, it is important for Tesco plc to properly deal with
the working system is appropriate time frame so that they can easily attain customers attention
towards the company and its offerings as well.
How organization fulfil their obligation from a pitch, identifying potential issues that can occur
Pitching is considered as an important source by which company can easily improve their
performance level at market place. With the help of this they can easily evaluate the issue and its
answer as well. In addition of this, business organization needs to effectively implement the
pitching process with the purpose of executing all the working activities in systematic manner.
Furthermore, effective process of pitching can be evaluated as per post pitching which
implement at the time of determine issues. Mainly, post pitching considers as an important
process which deal with all the activities in most effective manner with the purpose of attaining
set objectives.
In context of Tesco, it is important to setting documentation to effectively set the objectives
which may directly contribute in enhancing the chances of establishing positive image at market
place. With the assistance of this company can easily serve quality products to large number of
customers to attain their higher satisfaction (Myers, 2017). For making effective relation,
company needs to coordinate with their set objectives. By this organization can easily maintain
their performance at market place.
CONCLUSION
From the above-mentioned report, it has been concluded that negotiation is play vital role
in settle down the issues and dispute among two parties at the time of dealing with particular
contract. Along with this, it also helps both parties to share positive and healthy relation which
may contribute in developing positive performance of the company. Thus, it is important for both
parties to having effective abilities to influence each other so that they can easily accomplished
effective relations.
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REFERENCES
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