Report on Pitching and Negotiation Skills in a Business Setting

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This report examines pitching and negotiation skills within a business context, using Mark & Spencer as a case study. It begins by defining negotiation, its importance, and key stakeholders. The report then details the steps involved in negotiation, including preparation, defining ground rules, clarification, bargaining, and closure. It explores the RFP process and required documentation, as well as the contractual process and its management. The report also assesses potential pitch outcomes and organizational obligations. The analysis includes critical evaluation of the negotiation process and solutions for potential issues. Overall, the report provides a comprehensive overview of negotiation skills essential for effective business practices, emphasizing practical application and strategic decision-making.
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Pitching and Negotiation
Skills
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Table of Contents
INTRODUCTION ..........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Determine what is a negotiation, why it occurs and who the key stakeholders are during a
negotiation skills.........................................................................................................................3
P2 Evaluate the key steps and information required for negotiating and generating deals........4
M1...............................................................................................................................................6
D1................................................................................................................................................6
LO 2.................................................................................................................................................6
P3 Explain the RFP process and the relevant types of documentation required ........................6
P4 Explain the contractual process and how relevant documentation is managed and
monitored....................................................................................................................................7
M2...............................................................................................................................................8
D2................................................................................................................................................8
LO 4.................................................................................................................................................8
P6 Assess the potential outcomes of a pitch ..............................................................................8
P7 Determines how organisations fulfil their obligations from a pitch identifying potential
issues that can occur ...................................................................................................................9
M4...............................................................................................................................................9
D4................................................................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES .............................................................................................................................11
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INTRODUCTION
Pitching negotiation skills is the overall process to settle out the things between all
employees or with the organisation. It is a disagreement, individual understand aim to achieve
the best possible outcomes for their position. Negotiation skills is a kind of bargaining power of
the manager with their employees. It helps to manage the company cost and other benefits.
Present study will be based on pitching negotiation skills in Mark & Spencer, As an overall
manager in the large departmental store. It is the duty of manager to negotiation its employees by
reducing the cost of the company. Moreover, study will be cover steps and information required
for negotiating and generating deals. Moreover, it will more explaining about the process of
contractual process and how relevant documentation is managed and monitored. Further apart, it
will be covered the potential outcomes of a pitch. It will also conclude the results of PA in
negotiation process.
LO 1
P1 Determine what is a negotiation, why it occurs and who the key stakeholders are during a
negotiation skills.
Negotiation is one of the common approaches used to make the best decision making
approach to manage the disputes. This will help in the organisation to build the good relationship
between the organisation within all the organisation. It also helps to influence the best possible
action (Curhan, 2017). Besides, generally negotiation term has been used in the organisation to
solves the issues of employees. Likewise, negotiation process or skills are very much required
for problem solving. It also helps to influence the positive environment at the work place.
Negotiation required participation of employees or managers to take the best approachable
decision making or identifying the issue between the party. It also helps to make the best
decision making approach in order to full fill the best possible action plan for the company
betterment. Some negotiation has been made on the basis of some bargaining or some based on
promising. Along with that it has been more complicated and challenging at the time managing
the employees issues and disputes with relate of company policies (Fischer and Bajaj, 2017).
Challenging and task oriented work has been cleared. It is the duty of manager to brings new
exchange ideas and promotional task.
Negotiation process has based on some principles or on some targets which has been
following guidance of the organisation. In the process of this there are some parties has been
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includes during the whole process such employer, employee or some other mediates in the
organisation. It also has been proved that negotiation process is the common problem solving
technique in the organisation. As per the given case where PA wants to enhance the 10 percent
salary, as consider the work of PA is worth it. Besides, manager has power or requirement to full
fill the negotiation skills in order to meet the company objectives or restrict the company cost. It
is very much required for the company to negotiate the requirements of employees in order to
full fill the both the needs. Along with that, in this case PA and manager are the major
stakeholders or parties who involves in the negotiation process (Green, Pease and Davila, 2016).
The main objective of the parties are to gain recognition of either issues or parties, test to
strength of other parties, solve a problem, brings about new changes in the environment, develop
new policies and procedures to run the required business activities.
P2 Evaluate the key steps and information required for negotiating and generating deals.
To get the positive results from the negotiation process, negotiator must have required to
define or to understand the issue or problem. As per the case Manager required to understand the
employee needs of salary increment only for getting the best appreciation process to develop the
individual moral. Issue may be substantive such as related to money, salary, compensation etc.
besides, or related to the psychological related to the effects of a proposal action. In order to full
fill the negotiation result negotiator required to follow the process of negotiation for getting the
more information and generating deals or final outcomes.
Preparation and planning
This is the first process of making good deals with the help of negotiation. Preparation
and planning is the first step of this process. Under this process parties will organize and
accumulate the information necessary to have an effective negotiation. Parties shares the
information from each other (Hesse and et.al., 2015). Its makes good process of making task
oriented and take best source of income. Mark and Spencer manager requires to making full
planning to take the better decision making or first to understand the issues of PA in overall
process. For that, they require collecting all related information and PA good or bad records to
make them agree on the good deal. Another most important thing in the negotiation process is
that negotiate will always know about the issue or matter for which they need to take better
decision making approach (Horton, 2016). Negotiator also needs to prepare itself in order to deal
with the other party.
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Definition of ground rules
Rules and code of conduct is the set policies and target market plans in order to meet the
final objectives and target market goals. Rules is the type of set target market plans through
investigator can easily make better decision making approach. Rules and set of procedures are
very much helpful to implement the better process planning goals and requirement. Some
planned negotiation includes some examples such as where will negotiations take place?, will
there be any issues that are off limits ?, what happens if there's not nay agreement ?. Besides, in
this process or in step of negotiation both the party will try to figure out the process of working
or about negotiation skills. It also makes good effect on the overall process. In this next step
manager will follow the rules of negotiation and try to convince PA in order to follow or should
accept the Manager offer (Hughes and Byrd, 2015). In order to justify the case of PA manager
remembered that PA has an issue of timing through she has facing high negative influences such
as due to heavy traffic they facing. With the helps of that manager can easily full fill the
requirement of PA.
Clarification and justification
It is the another process of negotiation under which negotiator needs to make the another
process of working and manager needs to investigate into deeper manner. At the time negotiator
process has been increasing next process is to be considered to justify the process making task.
In order to full fill the negotiation objective and better decision making approach next process is
that to considered best approachable sources. In which party will explain amplify, clarify, bolster
and justify their original demands. It has been arrived at the process of making good skills and
wants of negotiation (Khadhraoui and et.al., 2017). Negotiation also needs to justify the needs
and wants of the party which needs to be remain according to the needed process.
Bargaining and problem solving
Bargaining is the most essential and popular term of negotiation which needs to acquire
according to the terms and conditions. It is the another process of making good skills and wants
of the organization. Manager negotiate PA issue by giving them flexibility to come early and
leave early in the regular office hours instead of raising salary incentives. This is the process or
results they have taken in the process of negotiation.
Closure and implementation
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It is the last process of negotiation in which negotiator formalised the agreement that has
been sent that it has been the effective process of making good task planning. Along with that, it
also includes the best possible manner in according. It also makes the process of making good
skills and wants (Lin, Kraus and Mazliah, 2014).
M1
On the basis of above discussed task or process of negation through which helps to full
fill the all requirement of negotiation skills. This process should requires to follow while
negotiation process has been occurred. During the process of making good skills and wants of
the party. Besides, if negotiator fails to make the proper planning it has been given improper
managing task for the further action making.
D1
Critically evaluate the steps of the negotiation process and present valid solutions for
dealing with issues that can arise. All the process of negotiation involves their own pros and
cons. It must be followed by the parties in order to full fill the basic needs and wants. it also very
much helpful to take the better decision making process. Without using the proper rukles and
regulation negotiation process has not been cleared properly.
LO 2
P3 Explain the RFP process and the relevant types of documentation required
It is the preferred way to accomplish the process of business. It is the kind of documents
that solicits proposal which is often made by the bidding process or by an agency or company
interested in procurement of a commodity service. The main purpose of RFP is that to needs
assessments, accountability and good governance and or for finding the vendor best suited to the
needs of the organisations (McCarthy and Hay, 2015). The need of the RFP occurred at the time
of making good task objectives and important role of matter. It is the process when new policies
and rules and regulations has been issued in the organisation. It is required to make the long term
process of making good skills and wants. Their some important part of the organisation which
required in RFP process
Establish the project boundaries: it is the process of making important and necessary
task objectives. Besides, it also requires making the proper implementation process of making
good goals. Such as before making negotiation planning. Negotiator requires to manage the
proper planning and task oriented goals which needs to be maintained according to the task
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objectives. Such as what type of negotiation process has been made according to the whole
process.
Identifying key stakeholders and advisors: it is the next process of making good task
oriented process of making good goals and objectives (O'brien, 2016). In this process manager
evaluate the response involve a lot of work, knowledge of the organization.
Talk to stakeholders and define your project needs: it is the another process of making
product needs in order to take the better decision making approach. It also helps to identify the
best possible action plan or give good decision making approach to full fill the better objectives.
Host an information meeting: it is the another process of making good task objectives
in terms of making good task oriented work and objectives. Moreover, in this process party
ensure all the information that they need to respond. It also makes the overall process of effective
Work (Paço, Ferreira and Raposo, 2016).
Evaluate the proposals: it is the process under which manager evaluate the process of
making good things and required making good task oriented work in order to meet the needs of
PA or manager as well.
Notify the proponents: once RFP has been proved or successfully been selected both
successful or unsuccessful proponents. Both the nature of good things has been increasingly
confident and challenging.
Sign the contract: After making all decision and agree on the all parts, in this last
process contract is negotiated and signed with the successful proponent. Moreover, another
process of understanding makes good decision making approach (Stevens and et.al., 2016).
P4 Explain the contractual process and how relevant documentation is managed and monitored
Contractual process is the process of making good task in order to fulfilled all the
requirements of good task making project. It contractual process is the more contractual process
making task in order to full fill the best possible action plan. Negotiation has been done on the
basis of some agreements mutual concerns. It has been done on the basis of contractual process.
Along with that, it also required to implement those contract regulations properly as per the
agreements (Sullivan, 2015). Promote strong writing relationship with project parties. In order to
accomplish the project plan and task oriented process making work. Both party should
maintained the integrity of the contract on which they agreed. Contractual process must be
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followed by all the parties who is liable to attain roles and responsibilities. Moreover, it will also
monitor the process of making good task oriented process to ensure proper monitoring the
process. Along with that. It will also bring new productivity and task oriented job. In order to full
fill the organisation to make proper planning and objectives. This promotes the overall process of
target market goals (Walsh, 2015).
M2
Contractual process is the essential process of making good skills and wants. Besides, in
case parties fails to perform their obligations and duties that person or individual party will label
to breach of contract. It is the overall process of making good things. Moreover, another process
is that to promote the best objectives or goals. Consequences of breach of contract is that.
Particular contract has been void and invalid in terms of approving.
D2
Successful tender is the task under which parties are liable to accomplish them in the best
possible manner. It is the best accomplishment and goal oriented process of making good skills
and wants (Paço, Ferreira and Raposo, 2017). Along with that, it makes good goals and growth
making task.
LO 4
P6 Assess the potential outcomes of a pitch
Negotiation process is the process of getting good outputs and decision making approach.
Besides, it also helps to make the better decision making approach. Along with that, it also
requires the best approachable decision making approach. Moreover, it is the long term process
or continuous process in the organisation to deal with the different stakeholders of the company.
It is the overall working process or target market goals. Moreover, negotiation skills are very
much useful for organisation to deal in profitable manner. Along with that, it will more
conceptual and principle based process. Under which company get their profit on the basis of the
best possible outcomes (Paço, Ferreira and Raposo, 2017). Outcome of the negotiation skills
gives better output and best possible returns. Besides, it also helps to motivate better skills and
wants. It is the overall process of making good task oriented skills and wants. Along with that is
the more fruitful and netter process to full fill the business objectives and employee needs as
well. It is the overall process of making good task oriented work and overall objectives. Along
with that, it will be more complexing and challenging for the manager to set the negotiation
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process or planning. Moreover, it will be the best possible outcomes and objectives to meet the
goals and objectives (Paço, Ferreira and Raposo, 2016).
P7 Determines how organisations fulfil their obligations from a pitch identifying potential issues
that can occur
Negotiation process in order to pitch the employee under their own decisions. Manager
try to negotiate employee under their own circumstances or needs. Besides, sometimes due to
less efficiency or fewer skills of negotiation, employer facing challenges and issues while
handling the negotiation process such as lack of time, going unprepared for a negotiation, lack of
patience, criticism, sarcasm, derogatory remarks etc (Paço, Ferreira and Raposo, 2016). these are
the constraints of negotiation which gives negative impact on the behaviour of organisation
objectives and goals. Some major issues have been discussing below:
Lack of time: time is the major constraint to make effective negotiation and task oriented
work. Besides, it also helps ton recover the process oriented target market goal. Time is the
major constraint of negation which creates issues and challenges in the process of negotiation.
Lack of patience: patience is had to handle uncertain situation. Besides, it also helps to
recover the best target market plan. This also lead mismanagement and uncertainty in between
the management process. Employer needs to listen their employee and their issues in order to
reduce the constraints and company negative environment.
Being too rigid: it is the another constraints or negative challenges to meet the needs of
organisation goal and target. Employer doesn't be too rigid in terms of decision making. They
need to keep calm and task decision on the basis of employer needs.
M4
Post pitch obligations of the organisation is that to make sure the contract of new
proposal policies should have been followed by all employees. It makes good impression on the
behaviour of task oriented goals. Besides, they also facing constraints and challenges during the
process such as time, behaviour, rigidity etc (Hughes and Byrd, 2015).
D4
Risk management involves at the every step of the process. It makes good process of
working and task oriented goals. It also makes the process of good things which is not making
good process of working. Risk management defines the overall risk and the steps through they
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get reduce and in their effective manner (O'brien, 2016). In order to negotiation process it also
includes various risk process or challenging situation.
CONCLUSION
From the discussion of above section, it can be concluded that negotiation skills must
have potential and benefits in order to achieve the negotiation objectives and goal oriented task.
Manager of the company is the responsible person to manage the negotiation process with an
individual or employee. They always need to considered best possible action plan in order to full
fill the employee needs and wants. This makes the process easier and impactful in order to meet
the needs. Overall, it makes good impact on the negotiation process. It brings new method or
opportunity to full fill the needs of organisation. Overall, it makes good impactful decision
making process of good skills and wants. Further, present report based on pitching negotiation
skills in order to take the best approachable task oriented project. It also helps to full fill the
objective task making project. Besides, it concluded negotiation skills or process. It also
described the RPF process to making better documentation process.
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REFERENCES
Books and Journals
Curhan, J. R., 2017. Wisdom in Simplicity. Negotiation Journal. 33(4). pp.363-365.
Fischer, L. H. and Bajaj, A. K., 2017. Learning How to Ask: Women and Negotiation. Plastic
and reconstructive surgery, 139(3), pp.753-758.
Green, E., Pease, M. and Davila, A., 2016. A FELLOWSHIP APPROACH TO
ACCELERATING SOCIAL ENTREPRENEURS.
Hesse, F. and et.al., 2015. A framework for teachable collaborative problem solving skills.
In Assessment and teaching of 21st century skills (pp. 37-56). Springer, Dordrecht.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Hughes, C. and Byrd, M. Y., 2015. Negotiation Skills and the HRD Professionals. In Managing
Human Resource Development Programs (pp. 131-140). Palgrave Macmillan, New York.
Khadhraoui, M. and et.al., 2017. The Impact of Marketing Skills and Negotiation Skills of
Universities Technology Transfer Office on Technology Transfer Success. Journal of
Marketing and Management. 8(2). pp.38-46.
Lin, R., Kraus, S. and Mazliah, Y., 2014. Training with automated agents improves people's
behavior in negotiation and coordination tasks. Decision Support Systems, 60, pp.1-9.
McCarthy, A. and Hay, S., 2015. Strategic Framework for Negotiation. In Advanced Negotiation
Techniques (pp. 143-148). Apress, Berkeley, CA.
O'brien, J., 2016. Negotiation for Procurement Professionals: A Proven Approach that Puts the
Buyer in Control. Kogan Page Publishers.
Paço, A., Ferreira, J. and Raposo, M., 2016. Development of entrepreneurship education
programmes for HEI students: The lean start-up approach. Journal of Entrepreneurship
Education. 19(2). p.39.
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Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship, 21(1).
Stevens, C. A. and et.al., 2016. A metacognitive agent for training negotiation skills.
In Proceedings of the 14th International Conference on Cognitive Modeling (ICCM 2016).
Sullivan, G. R., 2015. Leadership Development in the Workplace. Leadership and Women in
Statistics, p.259.
Walsh, K., 2015. Negotiation skills for medical educators. Journal of graduate medical
education. 7(1). pp.12-13.
Wiener, O., 2017. High Impact Fee Negotiation and Management for Professionals: How to
Get, Set, and Keep the Fees You're Worth. Kogan Page Publishers.
Online
5 Steps of Negotiation process, 2017. [Online]. Available through:
<https://iedunote.com/negotiation-process-five-steps>
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