Analyzing Negotiation and Pitching Processes in Business Development

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PITCHING AND
NEGOTIATION SKILLS

Table of Contents
Introduction......................................................................................................................................1
Activity 1.........................................................................................................................................2
P1 Determine what is Negotiation, why it occurs and who the key stakeholders are during a
negotiating process......................................................................................................................2
M1 Present a Concise rationale for the negotiating process, including detailed steps that
organizations go through during a negotiation process and the information required in the
preparation...................................................................................................................................4
P2 Evaluate the key steps and information required for negotiating and generating ideas.........5
Activity 2.........................................................................................................................................7
P3 Explain the RFP process and the relevant types of documentation required.........................7
M2 Apply the RFP process within an organizational context, outlining the key documentation
requirement and the consequences of breaching the agreement..................................................9
P4 Explain the contractual process and how the relevant documentation is managed and
monitored...................................................................................................................................10
Activity 3.......................................................................................................................................11
P6 Assess the potential outcomes of pitch.................................................................................12
P7, M4 determine how the organization fulfills their obligation from a pitch, identifying the
potential issues that can occur...................................................................................................15
Conclusion.....................................................................................................................................20
References......................................................................................................................................21

Introduction
Negotiation process is an effective technique for attaining settlement points for reducing
confusion and disputes between two parties, whereas pitching process is planning and
implementing various ideas for developing brand image and reputation of Oldham council.
Report discusses about definition of negotiation along with stakeholders in the process of
negotiation. Report will be discussing about documents along with their importance. Report also
discusses about pitching and result of pitch.
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Activity 1
P1 Determine what is Negotiation, why it occurs and who the key stakeholders are during a
negotiating process
Negotiation definition
Negotiation is referred to a method that is initiated for settling differences among individuals. In
this process people prefers conducting discussions and meetings for an agreement or compromise
as a conclusion for reducing the changes of dispute and argument (Scott, 2015). In the context of
business organization, negotiation is considered as important function that take place between
different stakeholders like employees, suppliers, vendors, investor etc. for to discover the most
optimum solution for any issues problems before signing a contract between them in the present
business.
Five main reasons of negotiations
Negotiations are significant for every business organization, as it supports and encourages
communication for the development of mutual understanding between different parties. Five
main reasons for negotiation in an organization is stated below:
1. One of the most common reasons for negotiations between two parties is, when a party
asks or wishes for a unique feature in the contract. Through effective negotiation the
issues can be solved or a new solution can be created for settling down the demands in
the contracts between both the parties.
2. Negotiation process is undertaken when the parties feels that there are some cons in the
signed contract that may rise disputes. Meeting and discussion are conducted for settling
done disputes by some influential powers.
3. For effective business operation negotiation is prefer for finding resolving disputes
instead of eroding the signed contract agreement between the two parties.
4. Negotiation helps in establishing a firm and effective communication between the parties
that helps in minimizing the gap of information sharing.
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5. Best outcomes for both the parties are when objective of each is achieved through win-
win situation.
Stakeholders in the process of negotiation
A stakeholder is referred to any individual that are affected directly by the result of the process
of decision-making more likely in a business organization. Stakeholders involves in the process
of negotiation with the organization for resolving disputes and to attain the most favorable
outcome as a part of their benefit. In an organization, negotiation starts with right from the
process of employment (Saritas, et al 2013). The employee may negotiate with the organization
considering their employment contracts for maintaining, improving and building a good
workplace along with other benefits. Negotiation is also establishes between different business
investors for making using their resources for business and personal benefit. A business
organization for effective functionality must be legally active by following various laws and
policies formulated by the government.
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M1 Present a Concise rationale for the negotiating process, including detailed steps that
organizations go through during a negotiation process and the information required in the
preparation
The overall process of negotiation can be sub divided in four stages:
Figure 1: Four stage of negotiating process
Stages Activities Involved Explanation
1. Preparation and planning  Identification of
potential value
 Understanding
various interests
(Menkel-Meadow,
2018)
 Developing the fact-
base
In this stage facts and
figures are developed
involving
stakeholder’s interest
for understanding
bargaining an
investment value
2. Definition of ground rules  Determining and
developing value
 Assessing all the
interests
 Developing trust
and rapport
Trust among the
customers is build
along with loyalty
support. Value for the
investment made is
created.
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NegotiatingprocessPreparationandplanningDefinitionofgroundrulesBargainingandproblemsolvingClosureandimplementation

3. Bargaining and problem
solving
 Developing and
distribute various
value
 Addressing all the
interests
 Creating and
managing various
concessions
Interest of all the
associated individual
are addressed values
are effectively
distributed.
4. Closure and
implementation
 Capturing all the
value
 Confirmation for
meeting the interests
In this stage interest of
stakeholders are
confirmed and
accordingly settlement
are developed.
P2 Evaluate the key steps and information required for negotiating and generating ideas
The process of Negotiation has a structured approach that can be supportive in the process of
taking proper decision making. For increasing the participation of the stakeholders with the
business activities, the organization delivering a product must initiate and conduct various
meetings and conferences. The overall process of negotiation is supported effectively by the
mentioned stages:
Preparation: The most significant step is preparation for negotiation process. This step defines
the detail all the involved members along with their delegation in the process of negotiation to
achieve the best output (Menkel-Meadow, 2018). In this step, cost and time requirement for the
process of negotiation is determining effectively for minimizing any kind of disagreements or
conflicts between the two parties..
Discussion: In this step, opinions and suggestion of various stakeholders and organizational
representatives are considered for achieving the most suitable result from the negotiations
process. Accordingly, detailed discussions are made for concluding with a valid judgment.
Goal clarification: Negotiation between any two parties can be due to various reasons and
situations. Thus, before initiating the process all prevailing reasons are listed for determining the
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priorities to gain suitable result. Clarification of the goals is considered as one of the most
important role that will be effective in providing clarity and reducing duplication in the working
relationships.
Negotiating till achievement of win-win situation: In the overall process of negotiation
involvement of two different parties can be found having their own set of interest and benefits.
So for undertaking the most effective decision benefits of both the parties are considered even
through negotiation to get the best outcome that is accepted mutually.
Action Implementation: Final decisions are made after agreement and conscience of both the
parties by considering different ideas and prospective. Priorities and expectation of both the
involved parties are reviewed effectively before concluding the final decision. Along with that,
various supportive action are also considered for implementing the agreement successfully.
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Activity 2
P3 Explain the RFP process and the relevant types of documentation required
RFP is a mnemonic for Request for Proposal. RFP is a document that supports stakeholders to
become an interregnal part of the bidding process through negotiation conducted for a product or
service. ERP is considered as one of the effective process which support in obtaining the best
points to be considered in a project. RFP is a very important element in the overall negotiation
process conducted between two parties. Request for Proposal is a significant document through
which the stakeholders like investors for analyzing various terms and condition associated with a
product and associated party.
The overall RFP process can be subdivided into four different steps: Discovery draft and issues,
score and shortlist and select winner and contract.
Discovery: In this stage, decisions are made regarding the choices made by the stakeholders for
product purchasing. Here, business objectives and goals are defined and considering that overall
development of the project is developed. Questionnaire is developed for understanding the
responses of the team regarding the contract and project plan.
Draft and issue: In this step, responses of the investors are collected through a list of open ended
questions. Accordingly, doubts among the stakeholders are solved and cleared by understanding
their need and requirements.
Score and shortlist: Here, in this step various vendors are eliminated who did not match the
standards of deal breaker. All the chosen vendors are then compared and shortlisted for final
selection.
Selecting contract and winner: It is the last step where the winner is chosen considering
various references and doubts. The process of negotiation and bargaining is conducted,
accordingly contract are designed and signed considering the most suitable supplier. However,
proper communication is established even with the non winner for maintaining business goodwill
and reputation. At Last, suitable relationship is created between various vendors for
organizational business success.
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Documentation
Several documents are present for in this process which acts as proof for RFP process including
budget allocation, work statement, routing sheets, contract word document etc having effective
information for support business process.
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M2 Apply the RFP process within an organizational context, outlining the key documentation
requirement and the consequences of breaching the agreement
RFP process is an ordered process including information regarding budget as well as other
negotiations. The process of RFP is pursued by other process like preparing questionnaire for the
vendors for collecting their responses for understanding various issues and problems related to
the contracts and product. The responses are then collected and analyzed and accordingly they
are scored and rated, candidates with high scores or rating wins. After completion of the
selection process all the policies, rule along with terms and conditions are explained to the
winning candidate. Moreover, for the application of the RFP various documents are required to
be signed between both the parties as contracts including work statement, budget allocation,
payment schedule and word document etc.
The main motive of these documents is to acts a legal and solid prove of contract and agreement
between both the parties. In case of violation in the mentioned terms and condition or rule, one
party can charge legal actions and compensation against the other party if found guilty.
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P4 Explain the contractual process and how the relevant documentation is managed and
monitored
Well established practices and activities that are undertaken by various contracting parties for
ensuring that systematic approaches has been utilized for defining and signing a contract. The
prime focus of contract process in to guarantee that information regarding role and
responsibilities of each of the parties are effectively provided (Jabri, 2017). Stages of the
contractual process are discussed below:
Stage 1: Conducting market research: Proper and adequate market research is conducted by
both the parties considering present prevailing political and economical scenario. Thereafter,
interrelation amongst the parties will be inspected before signing the contract.
Stage 2: Choosing contract type: Both the parties then decide the type of contracts to be
undertaken for the scenario. The contractual agreements is created including different policies,
laws, rule and other terms and conditions which is accepted by both the parties to attain their
desired outcomes with satisfaction.
Stage 3: Documentation: In this stage all the important document and papers are collect and
legally stamped as a conscience of both the parties towards their agreement for the contract.
This document includes information related to routing sheets, payment schedule, work statement,
budget and act as written evidence.
With the help of proper contracts the overall process of negotiation will be practical and
transparent between both the parties and effectively support in the process of decision making to
attain the most suitable outcome. Proper contacts will be very effective for both the parties to
understand various terms and laws briefly that will reduce confusion and conflicts.
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