Effective Negotiation and Pitching Skills in Business Development

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PITCHING AND NEGOTIATION SKILLS
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Table of Contents
Introduction......................................................................................................................................3
LO1 Evaluate negotiation and list the information for preparing negotiation.................................3
P1 Determine negotiation and the reason for its occurrence and the stakeholders during the
process.............................................................................................................................................3
P2 Information and Steps in Negotiations.....................................................................................5
M1 Rationale in the negotiation process which includes the information and steps of negotiation7
D1 Critically evaluate negotiation process steps and give valid solutions for issues.................7
LO2 Manage documentation relevant to tenders and contracts.......................................................9
P3 Explain the RFP process and the relevant types of documentation required, including a formal
response...........................................................................................................................................9
P4 Explanation of contractual process and management of relevant documentation...................10
M2 Application of the RFP process, outline of key documentation, and consequences of
agreement breach...........................................................................................................................10
D2 Critically evaluate the competitive tendering and contract process and make
recommendations for completing a successful tender with minimal risk......................................11
LO3 Developing a pitch for a sustainable competitive edge.........................................................12
P5 Developing an appropriate pitch by application of key principles.........................................12
M3 Examination of the pitch process, evaluating ways for maximisation of successful pitch.....13
D3 Developing a creative and dynamic pitch to achieve a competitive edge...............................14
LO4 Assessing outcomes of negotiation and pitch........................................................................16
P6 Assessing potential pitch outcomes..........................................................................................16
P7 Fulfilling pitch obligation and identifying issues.....................................................................17
M4 Recommendation of fulfilling post-pitch obligations.............................................................19
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D4 Critical evaluation of pitch and post-pitch outcomes..............................................................20
Conclusion.....................................................................................................................................20
Reference list.................................................................................................................................21
Appendices....................................................................................................................................24
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Introduction
The process of RFP happens between suppliers and clients to decide their business deal. This is
announced when a company requires an agent to complete tasks which were not fulfilled by
people in the past. The occurrence of RFP also takes place because parties aim to explain their
ideas and change the perception of the other party. This type of activity takes place in forming
the desired relationship with change.
Task 1
LO1 Evaluate negotiation and list the information for preparing negotiation
Negotiation takes place in business process and almost in every step of life. It helps people to
conclude a decision with the agreement of both parties. Some of the parties negotiate for solving
the existing issue and get recognition. Negotiation is an action which forms the relationship
between parties and the strength of the opposite party can be measured. Negotiation helps in
identifying the issues and acquires all the information related to the problem. Sometimes
negotiation is also conducted to clear the situation, problems for both parties. The ideology for
both parties must be the same for the business (Faas, 2016).
P1 Determine negotiation and the reason for its occurrence and the
stakeholders during the process
Negotiation is a process which takes place between two parties for the conclusion of a decision
which is agreed by both parties. In this case, it also means the transfer of legal ownership of a
particular document. Negotiation is a process which takes place almost daily in the life of people
but they are unaware of the fact. In the process of negotiation different ideas and facts are shared
between the parties. Some of the thoughts are shared and some are opposed by the other side.
The whole process of negotiation is personal between the parties and acts as a decision making
process. There are seven elements in the process of negotiation.
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P2 Information and Steps in Negotiations
Negotiation is the procedure which helps the parties to agree on a specific decision and reach a
conclusion with the sharing of ideas and thoughts. The whole process of negotiation involves
different steps which must be followed to achieve effective communication. There are six major
steps which are discussed below:
1. Preparation: The relevant information about the company and the topic of negotiation
must be prepared. The information must be known to the stakeholders so that they can
understand their position. The policies of the business must be included in the preparation
which will further help in any kind of disagreement. The time of the meeting must be
fixed which will contribute to a peaceful meeting. Further conflict due to the
disagreement between the parties can be removed with proper preparation (Teckchandani
and Obstfeld, 2017).
2. Discussion: this is the stage where stakeholders from both parties share their
understanding and view of the current situation. The vital point in the discussion is to
listen and understand and jot down all point to avoid disagreement.
3. Clarification of the goals: The objective and the goals of the organisation must be clear
to the opposite party. Disagreements and the reason of the problem must be clarified so
that further misunderstanding is avoided for making an agreed decision.
4. Win-win decision: Negotiation procedure must aim at reaching a decision which will
provide benefit to both parties.
5. Agreement: The understanding of the stakeholders for the problem and acceptance for
the universal decision must be involved. It must be clear to stakeholders of both the
parties.
6. Implementation: The process of the implementation of action according to the
agreement must be conducted to conclude a particular decision of the negotiation.
The information which is needed to conduct the process of negotiation is the relevant factors and
information of the business organisation. The schedule of the meeting and the specific duration
must be needed. Some other information is knowing the reasons of problems, policies of the
company and understanding the scenario of another party (Weiblen and Chesbrough, 2015).
[Referred to Appendix 1]
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Fig 1: Steps of negotiation
(Source: Created by the author)
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PreparationImplementationClarificationofthegoalsDiscussionAgreementWinwindecision

M1 Rationale in the negotiation process which includes the information and
steps of negotiation
There are different reasons for which negotiation takes place in the business organisation. Some
of the important reasons are listed below:
1. Recognition of the problem: Negotiation is done between the parties so that they can
recognise the party and acknowledge the issues.
2. Testing opposite parties: In the process of negotiation, the strength of the opposite parties
are estimated which proves to beneficial in carrying out business deals.
3. Educate parties: The knowledge about the problems in reference to the disagreements
must be known to both parties (unicourse.org , 2019).
4. Change perception: The act of negotiations aims to change the perception of the opposite
party and structure the deal according to the decision made.
5. Ventilate emotions: The important point of discussing the issue is to understand the
emotions of other party related to the issues in the business deals (Dinnar and Susskind,
2018).
6. Buy time: Negotiation is often carried out between the parties to delay the agreement due
to some reasons.
7. New techniques for problems: In the process of negotiation the procedure and measures
are developed so that deals can be carried out efficiently with the solutions.
8. Structure relationship: Negotiation is carried out for developing the desired relationship
and change the scenario (artsfundraising.org.uk, 2019).
D1 critically evaluate negotiation process steps and give valid solutions for
issues.
The process of negotiation includes preparation, discussion, and clarification of the goals, win-
win situation, agreement, and action. In the process of negotiation different problems and
conflicts arises which are discussed below with the recommended solution:
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1. Intercultural conflict: in the process of international negotiations, the culture of another
party must be fully studied so that stakeholders can fit. There is a huge risk of getting into
cultural difference and creating a negative thought. To avoid this research must be done
about the culture and it is best to meet them personally to know about them
(searchitchannel.techtarget.com, 2019).
2. Conflicts with relatives and family: The discussion with family, relatives, and friends can
sometimes lead to a harsh feeling. To avoid hurt feelings time must be taken and the third
part decision must be considered (replicon.com, 2019).
3. Workplace conflict: Analyzing the co-workers and team members will help in avoiding
conflicts with a serious issue. Solution for the conflict between team members is avoided
by including different techniques of solving conflicts (vtechworks.lib.vt.edu , 2018).
Fig 2: Types of negotiations
(Source: Created by the author)
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NegotiationsInterculturalconflictConflictswithrelativesandfamilyWorkplaceconflict

LO2 Manage documentation relevant to tenders and contracts
P3 Explain the RFP process and the relevant types of documentation
required, including a formal response
Request for proposal (RFP) is an announcement which is made by the organisation for project
funds. The bids are placed by different companies for the completion of the project. The process
of request for proposal is beneficial to both parties. In most cases, RFP is used by the companies
to secure and ensure a contractor. Request for proposal (RFP) is used by the governments in
many cases which are complex in nature. The vital point of creating an RFP is to get bids in good
quantity for the organisation (Cooke and Zaby, 2015). The submission of RFP is done by public
and governments organisation which must be opened to private companies also for a fair process
(essay.utwente.nl, 2017).
There are three types of documents required in Documentation. These are:
 RFP- It is the beginning of the procurement process that involves an invitation to
suppliers, generally with the help of abiding.
 RFI- Is requested by a service provider or a seller, which determines the services that are
present in the market. These services satisfy the needs of customers and understand the
capacity of sellers (researchgate.net, 2015).
 RFQ- this is required when bidding discussions are not essential.
 Solicitations- these are quotation and proposal requests and bidding invitations.
 Offers- These are documents, bids, and proposals that are offered by suppliers to
customers (Flammer and Bansal, 2017).
 Contracts- These are the agreements that are finally signed between suppliers and clients
(gupea.ub.gu.se, 2016).
 Amendments- These are the modifications made to offers, solicitations, and contracts.
These are submitted in the form of a document that is written (repositorio-
ucp.pre.rcaap.pt, 2017).
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P4 Explanation of contractual process and management of relevant
documentation
The contractual process includes steps that need to be followed. The process involves the rules
imposed by the Council of Barnet. They are:
 Contract selection- a contract is an agreement that is made between parties which
creates duties which are enforceable by law. An agreement type that is suited best for
transacting purposes needs to be chosen (Yamato, 2017).
 Collection of necessary information- engagement in any work without a written
agreement must not be entertained. Delays can be avoided by contacting services (Fujita
et al. 2017).
 Negotiator choosing- the documents are reviewed and a negotiator is chosen for
agreeing to the terms (Ceaușu et al. 2017).
 The review process of the contract- the agreement is forwarded to Contracting services.
The contract is then forwarded to higher authorities to review the entire contract.
 Contract signing- the contract is signed by concerned authorities and is sent to a
principal investigator to review it finally and sign the documents (Rusko et al. 2016)
[Referred to Appendix 2].
M2 Application of the RFP process, the outline of key documentation, and
consequences of agreement breach
The consequences of breaching an agreement depend on obligation breach of a party.
Consequences are, reducing the price of the contract, remedy related to the defect, compensating
for the damage. An RFP is a process that is mutually beneficial to both parties. These provide a
chance to observe the clients and the descriptions before signing any contract. It is the
responsibility of the employees to write an RFP for advocating themselves and their team. The
format needs to have questions about their company so that the vendors can answer them (Paço
et al. 2016).
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D2 critically evaluate the competitive tendering and contract process and
make recommendations for completing a successful tender with minimal risk
Tenders that are submitted for RFP can be completed with minimum risk by reviewing the
process correctly and reviewed by the right people (Moro Visconti, 2016).
Stakeholders are the individual person who participates in the procedure of negotiation. The
client of each party is considered as the stakeholder for the action of negotiation but this does not
mean that every stakeholder will be considered as the stakeholder. In the process of negotiation
people speak on behalf of the client and this is the reason why they are called as representatives
(Hale and Officer, 2017). The key individuals who act as stakeholders are the client themselves
or person or parties who are appointed by the client to represent them (Kokshagina et al. 2016).
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