Strategic Business Negotiation and Pitching Skills Report for M&S

This report provides a comprehensive analysis of pitching and negotiation skills within a business context, using Marks and Spencer as a case study. It defines negotiation, identifies stakeholders, and outlines the negotiation process, critically evaluating each step. The report explores the Request for Proposal (RFP) process, detailing its application and required documents. It also examines competitive tendering, contract processes, and risk management strategies. Furthermore, the report delves into the pitching process, discussing methods to maximize pitch success and develop creative outcomes while addressing potential issues and risk management. Post-pitch outcomes, potential issues, and risk management activities are also evaluated. The conclusion summarizes key findings and emphasizes the importance of effective negotiation and pitching in business.

Pitching and negotiation
skills

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
1) and M1 Definition to negotiation and stakeholders in the negotiation process......................1
2), M1 and D1 Rationale to negotiation process and steps that an organization have to go
through during this process..........................................................................................................2
3) Critically evaluating the steps that are included in negotiation process..................................3
LO 2.................................................................................................................................................4
1) and M2 Application of RPF process in the organization and documents required in it..........4
2) and D2 Evaluating competitive tendering and contract process and recommending on
completing the tender with minimum risk...................................................................................6
LO 3.................................................................................................................................................7
1) and M3 Examining pitching process in organizational context and various ways to
maximize the chances of successful pitch...................................................................................7
2) and D3 Development of dynamic and creative pitch outcomes so as to ascertain potential
issues and risk management strategies........................................................................................7
LO 4.................................................................................................................................................8
1) and M4 Potential outcomes of the pitch and various ways that can help in fulfilling post
pitch obligations highlighting potential issues............................................................................8
2) and D4 Evaluating pitch and post pitch outcomes so as to determine potential issues and
risk management activities..........................................................................................................9
CONCLUSION................................................................................................................................9

INTRODUCTION
Negotiation and pitching are considered to be the core aspects that are related to the
business. In such cases, the company must have appropriate policies and procedures that can help
in conducting these two aspects in the most defined manner. The present report makes a
comprehensive discussion regarding negotiation aspect that is required to be concerned by the
management of Marks and Spencer and process that can be followed by it in order to solve a
particular issue. The report will then focus on pitching document and various obligations that are
attached to it are also required to be ensured. In the end, various pre and post pitch consideration
will be discussed so as to keep the risk aspect to the minimum.
LO 1
1) and M1 Definition to negotiation and stakeholders in the negotiation process
Negotiation is considered to be a strategic process that involves formal discussion between
the parties involved whose aims, objectives and intentions can be different. The case is especially
in business or politics where negotiation takes place to reach to an agreement or settlement.
Since, it is the issue which can lead to arising of conflicts between the parties, it helps in bringing
the divergent patients together in such a manner that they can continue their association for
longer period of time (Tse, 2014). The main aim of negotiation ios to resolve the point of
differences so as to gain the advantage which can help in fulfilment of collective objectives of all
the parties that are involved in the agreement process. The degree to which negotiating parties
trust each other helps in implementation of negotiate solution that has been assessed by them. It
helps in ensuring that the negotiations being made are successful enough. Majority of the
situations are there where, two or more parties discover that there aims, objectives and
viewpoints are not matching with each other. In such cases, they can move towards one view
point only if they try to settle down and resolve a conflict with mutual concern. The parties
involved in it must understand that it can help in achieving the best possible outcome that can
serve their interest in the best possible manner. However, it is important to seek the principle of
fairness, seeking mutual benefits and maintain a relationship that can bring out possible
successful outcomes for the parties.
Stakeholders are the people who are directly or indirectly affected by the decision making
during negotiation process. The term is generally taken into consideration when talking
regarding public, policy decision making or any type of dispute resolution that have certain
1

representation that can affect the desired group. For instance, any citizens in the neighbourhood
may be affected due to construction in the factory. Since, there is some interest that relies in the
neighbours, in such cases, they will be referred as stakeholders for the organization. On the other
hand, positive interest can be in the form of gathering new job opportunities or the product
produced by the factory may be beneficial for the people living in the neighbourhood. Hence, it
can be stated that stakeholders do not have to be a part of the company, but their mere
involvement in the task can directly make them active or inactive stakeholder of the organization
(Tse, 2013).
In the present scenario, the stakeholders of Marks and Spencer are, employee, who acts as a
manager, his personal assistant, human resource department and other employees. Based upon
the case where assistant is asking for 10% hike in overall salary so as to meet out its expenses.
2), M1 and D1 Rationale to negotiation process and steps that an organization have to go through
during this process
It is important to take decisions in such a manner that negotiation process is initiated in a
well-defined manner. It can help in ensuring that the requirements of personal assistant are
fulfilled with proper negotiation steps so that interest of none of the parties are hampered and
least impact can be attained on the overall profits of the organization as well. Hence, the five
steps that are involved in negotiation process are: Preparation and planning: It is considered to be the first and most important step of
negotiation process where both the parties are involved in organizing and accumulating the
necessary information so that effective negotiation process clan be initiated. Marks and
Spencer need to prepare a full negotiation plan with the assistant so that interest of none of
the parties in actually hampered. Information can act as a powerful tool in negotiation
process and it can act adequate validity to the claims. Both the parties must indulge in
investigating the profit history as salary issue is directly associated to it (Coppens and et.al.,
2014). It can help the organization to assess that what is the highest amount that can be paid
by the them to the employee after implementing hike in the salary. However, on the other
hand, assistant have to see that up to what amount he can negotiate with the organization
which can serve his purpose and concern as well. Definition of ground rules: It is considered to be the second step of negotiation where; rules
and procedures are required to be established for the planned negotiation process. It helps in
2

understanding that where negotiation process will take place, time constraint, any issues that
are not within the limit and what will be the consequences if agreement between the parties
will not take place. At this stage, it is also the matter of concern that at what price or amount
of salary based on which both the parties will start negotiating to each other. In such case, the
amount can be decided by employee and HR manager that what amount of hike can be given
and to what amount, the process of negotiation is required to be started (Mejía-Arauz and
et.al., 2018). Clarification and justification: After the exchange of initial position, both parties will be
involved in amplifying, clarifying, bolstering and justifying their original demands. The
needs are not rerquried to be confrontational. It can act as an opportunity to educate an
inform each other regarding the issues that may be faced by them in accepting the original
agreement. One can also explain reasons of reaching to the initial demand. Bargaining and problem solving: It is another important aspect of negotiation process
where; the core essence of negotiation process is initiated which can help in actual give and
take relationship. The proper bargaining aspect is required to be initiated at this stage where
concessions are required to be made undoubtedly by both the parties. Closure and implementation: It is the final step of negotiation process where the formalized
agreement based upon the aspect on which things that have worked out will be preparedfor
the parties. The implementation and monitoring aspect will be initiated at this stage. For
major negotiations, a contract can also be prepared between the parties for its better
implementation and monitoring aspect (Van Wassenbergh and Aerts, 2013).
In the given scenario of marks and Spencer, it is important for them to initiate negotiation
procedure in this manner as it will help in ensuring that the interest of both the parties is not
hampered. Moreover, bargaining in a systematic way can help in ensuring that scarce resources
are allocated in effective manner in such a manner that interest of both the parties can be
fulfilled.
3) Critically evaluating the steps that are included in negotiation process
The steps that are mentioned with respect to negotiation process may not be effective all the
time and the same may be changed as and when the overall situation between the parties tends to
change. In such cases, a step may be added and deleted as per the requirement and one can then
jump of to the next so as to fulfil the interest of both the parties. In the present scenario of marks
3

and Spencer, definition of ground rules, that is the second step and the third one, that is,
clarification and justification, is combined together so as to reach to the effective goals. The
process may also be ineffective in case the first se pony is not fulfilled by the two parties and
negation aspect get dissolved between them (Fatima and Rahwan, 2013). Further, critically
analysing the same, it can be stated that when one party is in power then in that case, the steps
mentioned may not come to rescue. There is always adequate amount of uncertainty that exist
between the two parties when they are involved in any type of negotiation aspect. In such cases,
it becomes important to have effective bargaining process so as to generate maximum profits out
of it. Another disadvantage of this process is that, both the parties may be so concerned in cutting
out the best deal which can ultimately make them fail to recognize the alterative options that can
help them in assessing win-win situation that may be present in the particular condition. Hence,
it can be stated in the end, that it is not important that specific steps that have been identified in
the negotiation process will be able to deliver the best two both the parties which are actually
involved in negotiation.
LO 2
1) and M2 Application of RPF process in the organization and documents required in it
Request for Proposal (RFP) is considered as a document that helps in soliciting proposal
which is often made through a bidding process by an agency or company which is interested in
procurement of commodity, service any other valuable assets in order to sell the same to the
potential suppliers in order to submit the business proposals. It is generally submitted in the
initiate aspect of procurement cycle that helps in conducting preliminary study. It helps in
understanding varying degree of supplier’s response in such a manner that the maximum is then
generated through the process. In the process of Request for proposal, following steps are then
involved. These are:
 Informing suppliers that the organization is looking for procurement and encouraging them
so that the best efforts are put forward by them.
 It is important for the organization to specify that what it is proposing for purchases. If the
requirement aspect is initiated appropriately in can quite easily put forward the request
document (Fatima and Rahwan, 2013).
 Alerting suppliers regarding the selection process based on which competition is generated
between the suppliers.
4

 Allowing people to have wide distribution and response regarding the subject matter.
 Ensuring appropriately that suppliers respond considering all the facts that haven included in
the request proposal.
 A structure of evaluation is requested to followed by the team so as to ensure that the best out
of all suppliers have been chosen for procurement purposes and the same is required to
initiated impartially.
An RFP involves not only request for price, but it also includes all the terms and conditions
that are required to be processed by the team so as to ensure that the best practice is adopted by
them. It is also inclusive of financial information, technical capability and other major services
that are required to be ensured that they are present in the proposal form document. The
common RFP tends to carry the following documents as important attachments for the company
that may be required by the sippli9er to take the procurement decisions (Fatima and Rahwan,
2013). These are:
 All the instructions to the Bidders
 General description of work
 Breaking down the bid price and disclosing the bid price
 Schedule related to bid period activities.
 Disclosure of location of work.
 Pre awarded surveys (Appel, 2013).
 Sealed bid requirements
 Basis on which a bid will be evaluated
 Various ethical standards that are required to be followed by the suppliers and the company
involved in it.
 Format of the proposal
 List of Bidders
 Letter of acknowledgement
 Description of work
 Contracts (if any)
 Schedules of completion date
 Key suppliers and contract information
 Length of time where the bid is valid
5

The consequences of breaching the contract can lead the supplier to pay compensation being
described and disclosed in the contact. They also have right to breach the contract then and there
and opt for other suppliers as well.
2) and D2 Evaluating competitive tendering and contract process and recommending on
completing the tender with minimum risk
Competitive tendering is considered to be a widely used procurement methods which is
generally adopted by various government agencies and private sector organizations as well. The
main purpose behind competitive tendering is to force suppliers top compete with each other and
gain the best value for money deal for the themselves by giving tender to the organization. It is
an auction process that can be effective when there are large number of suppliers present in the
market and organization can opt for the one which is the best for the suppliers (Williams, 2013).
The process of contract can only be associated when one of the supplier is chosen by the
organization during competitive tendering. Contract process tends to involve five main steps in
it. These are, selecting a contract, collection of information, choosing a negotiator, contract
review and contract signing. When one of the party is do not get satisfied by the provisions at
any of the step in the contract, then in that case, the contract can be breached by the two at any
pint of time and the process of contract is not continued any longer. However, after the least
steps, that is signing of the contract, it cannot be broken illegally and then legal risk come into
consideration in this case.
Contract can be inclusive of written agreement, contract, bidding letter of intent,
memorandum of understanding agreement, transfer, lease, instrument assignment, certificate of
other document, obligation and provision of which may be binding upon the organization which
may be binding the management to execute the agreement on behalf of the concepts and projects
being mentioned in the contract (Hart and Scacco, 2014).
In order to complete the tender with the minimum risk, it is important to ensure that all the
information have been disclosed in the true and fair manner. Moreover, adequate amount steps
are being taken to ensure that the supplier is not fraud. Moreover, constant monitoring of the
tender is also required to be ensured by the team for its effective implementation with minimum
possible risk.
6

LO 3
1) and M3 Examining pitching process in organizational context and various ways to maximize
the chances of successful pitch
Pitching refers to representation of idea of business in such a manner that it can attract
maximum number of people for association in the form suppliers, contractors, investors etc. It is
important for marks and Spencer to ensure that the pitching aspect used by it is able to maximize
number of interested people in it. There are seven steps so as to ensure that pitching method
being used by the organization is effective enough so that a successful pitch can be initiated.
These steps are:
 Arranging a meeting to make pitch and bring all the team members associated to it together.
 Thanking client for this opportunity and introduce the team by describing credentials and
their role in it
 Profiling the target market of advertisement and present market research that has been
conducted for the same.
 Presentation of creative proposal for effective campaigning aspects and propose their benefits
to the audience (Fletcher, 2018).
 Providing client with proposed budget of the aspects that campaigning may include. It can be
inclusive of creative, media and production cost
 Summarizing all the key points that are associated to the pitch so that audience can help in
meeting the marketing or other business related objectives for the company.
Opting for these steps in a well-defined manner can help in ensuring that all the important
aspect had been included by team. It can also help in attracting maximum number of customers
towards it. Hence, it can be stated that adoption of the same by marks and Spencer can help in
receiving maximum number of suppliers with minimum possible prices. It will also help in
coping up with overall aims and objectives of the organization with respect to pitching as well.
2) and D3 Development of dynamic and creative pitch outcomes so as to ascertain potential
issues and risk management strategies
Development of creative and effective business pitch that is sustainable enough to achieve
the competitive edge. Hence, pitching document can be prepared for marks and Spencer in the
following manner:
7

 Background / Overview: marks and Spence is a British Multinational retailer that is involved
in offering home products, clothing range and other luxurious products to the people. The
main motive of this organization is to capture younger market with the business goal to
appeal this generation of new customers by providing best possible services to them. Objective of Ad campaign: The main objective of ad campaign is to attract large number of
customers towards it. The motto is to persuade audience to buy and use the product It can
help in creating and characterizing the new brands being launched by it (John Peters, 2016). Target Audiences: The target audience will be young generation belonging to the age of 15
years to 35 years. These are people with household income group with middle or higher level
of incomes. The word multicultural word will be frequently used in the ad campaign to
ensure that people irrespective of their ethnicity can opt for the products. Focussing on what is the most important thing to say: The single most persuasive statement
to attract large amount of crowd towards the company is “We represent all”. Rational
motives will generally be used in TV and internet commercials of the organization. Scheduling the board: A creative team will be hired for the organization in such a manner
that maximum amount of output and profits can be initiated.
In this manner, right kind of people will be attracted to the organization which will ultimately
help in attracting maximum number of customer towards it enhancing overall profitability and
revenue aspect of the company.
LO 4
1) and M4 Potential outcomes of the pitch and various ways that can help in fulfilling post pitch
obligations highlighting potential issues
The potential outcomes of the pitch can be that Marks and Spencer will be able to attract
investors towards it in such a manner that it will be able to expand its ability to serve the
requirement of the customers. Moreover, larger investment will aid in ensuring that maximum
number of people are able to develop confidence in the brand and they have better approach to
the products of Marks and Spencer (Nic Giolla Easpaig and Humphrey, 2017).
There are various ways based on which post pitch obligations can be fulfilled by the team
of marks and Spencer. Since, the goal of every pitch is top ensure maximum reach to media and
investors. Hence, post pitch obligations can be fulfilled in the form of shortlisting the candidates,
opting for best possible suppliers and investors, drawing out marketing campaign and initiating
8

budget for the same. It will help in taking a step towards fulfilment of the objectives based on
which pitching document was prepared by the company.
Potential issues that can come up in this regard include, no investor may turn up to the
organization. Other aspect can be related to availability of high degree of competition that make
investors to invest in those company rather than Marks and Spencer. Another issue can be,
ineffective pitching ultimately leading to ineffective results.
2) and D4 Evaluating pitch and post pitch outcomes so as to determine potential issues and risk
management activities
The main objective of pitching is to ensure that all the objectives are communicated in
effective manner to the audience in such a manner that the maximum can be generated out of it.
There are certain issues that may arise pre pitch, It includes inability to draw effective pitching
strategy. It is considered to be the most common issue that is generally faced by the organization.
In such cases, it becomes important for the team to hire the professional who have adequate
knowledge regarding the same and can opt for the methods which can help in development of
effective pitch. Other issue can be related to its implementation, the execution of plan is quite
different from the actual plan (How to pitch a brilliant idea, 2003). In such cases a bad
reputation regarding the organization can be presented. In order to eliminate the same, steps can
be taken so that appropriate proposition can be made by the team in the form of effective
pitching.
In post pitch period, Marks and Spencer may face issue in the implementation of the plan
which can prove to be difficult for them. In such cases, management have to ensure that what is
being discuses in the pitch is appropriately carried out by the team. Another issue that can be
faced is related to the budget. It is important to have extra concern while declaring proposed
budget for the particular activity.
CONCLUSION
From the above report, it can be concluded that, The main aim of negotiation ios to resolve
the point of differences so as to gain the advantage which can help in fulfilment of collective
objectives of all the parties that are involved in the agreement process. Pitching refers to
representation of idea of business in such a manner that it can attract maximum number of people
for association in the form suppliers, contractors, investors etc.
9

REFERENCES
Books and Journals
Appel, M., 2013. Now Pitching for the Yankees: Spinning the News for Mickey, Billy, and
George. Diversion Books.
Coppens, A. D. and et.al., 2014. Learning by observing and pitching in: Benefits and processes
of expanding repertoires. Human Development. 57(2-3). pp.150-161.
Fatima, S. and Rahwan, I., 2013. Negotiation and bargaining. Multiagent Systems, 143.
Fletcher, D., 2018. Looking to the future: how can we further develop critical pedagogies in
entrepreneurship education?. Revitalizing Entrepreneurship Education: Adopting a
critical approach in the classroom.
Hart, R. P. and Scacco, J. M., 2014. Rhetorical negotiation and the presidential press
conference. Communication and language analysis in the public sphere, pp.59-80.
John Peters, B., 2016. Reading Religion: Chivalry in the Alliterative Morte Arthure as an
Instance of Cultural Negotiation. Literature and Theology. 31(3). pp.305-317.
Mejía-Arauz, R. and et.al., 2018. Collaboration or Negotiation: Two Ways of Interacting Suggest
How Shared Thinking Develops. Current opinion in psychology.
Nic Giolla Easpaig, B. and Humphrey, R., 2017. “Pitching a virtual woo”: Analysing discussion
of sexism in online gaming. Feminism & Psychology. 27(4). pp.553-561.
Tse, J., 2013. Pitching your ideas to senior management. Training & Development, 40(6), p.11.
Tse, T., 2014. Negotiation between Fashion Marketers and Journalists in Asia. Asian Journal of
Business Research ISSN. 4(1). p.2014.
Van Wassenbergh, S. and Aerts, P., 2013. In search of the pitching momentum that enables some
lizards to sustain bipedal running at constant speeds. Journal of The Royal Society
Interface. 10(84). p.20130241.
Van, S. W. and Aerts, P., 2013. In search of the pitching momentum that enables some lizards to
sustain bipedal running at constant speeds. Journal of the Royal Society,
Interface. 10(84). pp.20130241-20130241.
Williams, A., 2013. A study on the art and science of pitching new businesses (Doctoral
dissertation, Massachusetts Institute of Technology).
Online
10

How to pitch a brilliant idea. 2003. [Online]. Available through < https://hbr.org/2003/09/how-
to-pitch-a-brilliant-idea>
How to Pitch a Brilliant Idea
How to Pitch a Brilliant Idea
How to Pitch a Brilliant Idea
How to Pitch a Brilliant Idea
11