Negotiation and Pitching Skills in Business: Marks & Spencer Report

This report examines the crucial roles of pitching and negotiation skills in business, emphasizing their importance for securing contracts and achieving desired terms, using Marks and Spencer as a case study. It delves into the determination of negotiation processes, key stakeholders, and the steps involved in effective negotiation, including preparation, rule definition, opening phases, bargaining, and closure. The report evaluates these steps, addressing potential challenges and offering solutions like cognitive ability and collaboration. Furthermore, it analyzes the application of the Request for Proposal (RFP) process, essential documentation, contract evaluation, and competitive tendering. The report also includes recommendations for post-pitch duties and addressing desired outcomes, offering a comprehensive overview of these critical business skills and processes.

Pitching and
Negotiation skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Determination of negotiation and key stakeholder involved.................................................1
M1 Steps involved in the negotiation process.............................................................................2
D1 Evaluation of steps of negotiation process and providing solution for problems which can
arise.............................................................................................................................................3
TASK 2............................................................................................................................................4
M2 application of RFP process in context of an organisation along with key documentation...4
D2 Evaluation of contract and competitive tendering process and making recommendations. .4
TASK 3............................................................................................................................................6
Covered in PPT...........................................................................................................................6
TASK 4............................................................................................................................................6
P6 Assessment of potential outcomes of a pitch.........................................................................6
M4 Recommendation for fulfilling their Post-pitch duties and addressing desired issues.........6
CONCLUSION................................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
Pitching and negotiation are referred to as essential elements which can helps an
organisation in wining new contracts with terms and condition desired by an organisation. It is
essential to hire people in the organisation possessing pitching and negotiation skills so that
business activities are carried out ideally in this competitive environment. A business can
entertain numerous networking and sales generation opportunities when it possess people with
ideal pitching and negotiation skills (Chang and Rieple, 2013). This assignment takes into
consideration working of Marks and Spencer, it is an organisation which is known to cater
clothing and accessories needs of people worldwide. This assignment focuses on evaluation of
negotiation and document it involves. There will be a development of a sustainable pitch which
will be helpful to an organisation in achieving competitive advantage to an organisation and
finally, outcomes of pitch will be assessed.
TASK 1
P1 Determination of negotiation and key stakeholder involved
Negotiation are referred to key approach in a business organisation when looking to
maintain its relationships and make sure that conflicts between employers and employee are
resulted in an ideal manner. It is mentioned to be a situation in both the parties discuss relates to
matter of contracts and agreements. This can be further explained with situation in which an
employee expects better pay from its employer but an job provider does not wish to go beyond
rules which has been formed by the management (Chang and Rieple, 2013). A salary negotiation
assures that employer and employee emerged to be in a win-win situation and eliminate chances
of conflicts within a firm.
It is essential to incorporate stakeholder while decision making to make sure that right
outcomes are ascertained from the negotiation process. The stakeholder in this segment is
employee and employer and should agree to the guidelines of the contract and must not be
imposed to them. The agreements which has been laid down by the management assures that
benefit of employees as well of organisation leading to adapt changes in the business
environment in the ideal manner (Cooke and Zaby, 2015). There can be numerous reasons for
which this organisation considers negotiation process which are as follows:
Creating win-win situation: Negotiation skill is helpful in creating win-win situation in
the business context. It is a difficult approach to identify and fulfil requirement of all the
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stakeholders involved in an agreement (Wiener, 2017). The outcomes which are identified by
undertaking negotiation are highly appreciated by parties involved.
Building respect: Negotiating skills when employed by an organisation assures that there
is positive impact on the manner organisation is perceived and will be identified with respect.
The win-win situation which has been supplied through negotiation assures that there are ideal
relation with the vendors, clients and employees leads to reputation building on behalf of a
company (Cooke and Zaby, 2015).
Improving bottom line: the outcomes of negotiation in an organisation are helpful in
ensuring that best results has been availed from the negotiation. The reason it is beneficial in an
organisation is that it can help improve fundamentals of lower segment. For instance: with the
help of negotiation an organisation can be successful in retaining competent customers service
executive which will make sure that there is a minimum discrepancy in the operations and better
profitability could be achieved (Dawson, 2014).
M1 Steps involved in the negotiation process
It can be said that there are numerous steps which can be undertaken so that favourable
outcomes are achieved. The various stages in negotiation process are described below briefly.
Stage 1 Preparation: It can be referred to as one of crucial steps in a negotiation process
which involves leveraging of information which is helpful in making sure that negotiator possess
an edge over other party. The gathering of knowledge will be helpful in identifying the manner
through which type of negotiation which will be more suitable in this particular scenario. The
objective formation can be termed as foundation on which negotiation will be carried out
(Dawson, 2014).
Stage 2 Definition of ground rules: The next step focuses on development of policies
and procedures along with formation of ground rules which will be undertaken in this negotiation
process. This stage helps in determination of the time and place at which negotiations will take
place and identifying practices which will be followed if an agreement could not be concluded
(Dierdorff, Rubin and Bachrach, 2012).
Stage 3 Opening phase: It can be referred to as the stage on which both the parties meets
for the first time and attempts form a suitable impression on other party and ensures that it lays
groundwork for the next meeting. So it can be said that this stage focuses on presentation of case
by both parties.
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Stage 4 Bargaining Phase: On this stage both the parties are moving close to the
objective which has been formed for the negotiation (Rich, 2013). This stage focuses on making
sure that demands of a party are to be considered as appropriate and persuades other party to
acknowledge such demands leading to formation of win-win situation for both.
Stage 5 Closure Phase: The information and knowledge which has been collected on the
subject can be further utilised in this segment and making sure that case is closed. The negotiator
will be reviewing the negotiation so that he is able to identify manner in which similar situation
can be dealt with in the future (Healy, 2011).
D1 Evaluation of steps of negotiation process and providing solution for problems which can
arise
It has been identified that there are numerous stages which are to be carried out in right
manner so that favourable outcomes could be established. It is not an easy task as there might be
eruption of numerous problems and challenges which must be resolved by the negotiator so that
an agreement could be formed. The primary challenge which is considered is that there are
numerous parties involved in this process and it is not easy to fulfil expectations of all. The
reluctant to understand another party and unpreparedness have emerged to be most common
challenges which are to be resolved by a negotiator (Hendricksen, 2014). The various strategies
through which such situation could be countered are as follows:
Cognitive Ability: it can be identified that the cognitive ability of an individual can
overcome major challenges in a negotiation process (Paço, Ferreira and Raposo, 2017). This
skills of negotiator will be helpful in making sure that there is an multiple solution to problems
which are encountered in the process.
Collaboration: it is necessary to collaborate activities and efforts of both the parties in an
negotiation process to make sure that right outcomes are achieved. The reason for which both the
parties have said yes to negotiation is that they are looking to work together and achieve a shared
goal therefore it is dependent upon the negotiator to identify manner in which both parties are
able to sit and work together forming a right conclusion (Horton, 2016).
Focusing on interest: it is essential for a negotiator to form decision on the basis of
interest of people rather than considering position of people involved in a conflict of interest. For
instance: while negotiation between an employer and employee it is essential to consider interest
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of those involved rather than forming a decision influenced by position of a party (Kamin,
2013).
TASK 2
M2 application of RFP process in context of an organisation along with key documentation
RFP stands for Request for proposal, it is referred to a contemporary manner through
which business operations are carried out. This tool has been mostly employed as a measures
which assist in availing products and services at the affordable prices (Dierdorff, Rubin and
Bachrach, 2012). It can be considered to be a bidding tool as well which is begins when an
organisation announces for funds requirement under such circumstances numerous companies
bids to invest in that project for financial benefits. It can be referred to as purchasing process
which has been employed by organisations. The documents which are essential for RFP process
are solicitations, agency written request, cost bid form, addendum and process of awarding.
There will be a clear description of date and time before which bid is to be submitted along with
taking up measures to resolve queries and challenges (Paço, Ferreira and Raposo, 2016). The
presence of all such documents is vital when considering an agreements between both the
parties.
A contract is cited to be an agreement on defined terms and condition to pay money in
return of provision of goods and services. The terms and condition which have been formed with
a contract determines how each party have to perform their share of duties and responsibilities
and should be stated clearly. In case of breach, party which has been innocent possess complete
right to terminate his share of duties and responsibilities and claim losses which have been
encountered. The party which has been proven guilty is liable to pay agreed amount to the
innocent party within time specified (Negrón, 2014). The contract is being legally bind therefore
guilty party is punishable under the law as well.
D2 Evaluation of contract and competitive tendering process and making recommendations
Competitive tendering is referred to a procurement methods which has been employed by
governmental organisation and private corporations. It is approach which leads to enhance level
of competition among suppliers so that one who offers value for money products could be
selected by an organisation. The organisation in this segment invites application from numerous
suppliers so that they compete and there is substantial reduction in prices which are being offered
by them (Nudelman, 2017). It has been widely recognised approach to tendering which is
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transparent and provides equal opportunity to distinct suppliers (Healy, 2011). The party which
has been selected by the management and reaches an agreement will be bind with organisation
under lawful circumstances. The various steps which could be determined in the tendering
process are as follows:
Determination of tender process: the primary steps in tendering process determines the
manner through which it will be carried out (O'brien, 2016). There are numerous approaches
through which tendering can be determined such as open, select and multi-stage tendering. This
organisation have been preferring selective tendering which have limited number of suppliers are
considered to fulfil demands of an organisation.
Preparation of RFP: this stage focuses on preparation of request for proposal which
clearly states requirement of the project which are to be fulfilled in an innovative and flexible
manner. The various segment which are to be covered at this stage is description of goods and
services, conditions of tender, criteria for evaluation and finally submission content and format.
This stage will be helpful for supplier to identify requirement which are essential in bidding for
tender (Hendricksen, 2014).
Invitation of tenders: the invitation of tenders is dependent upon the the value and
complexity of business operations. Marks and Spencer works in apparel sections therefore
requirement is of cotton and polyester supplier so that success can be attained in terms of product
delivery. There is a time constraint to tender so that a business is able to select the supplier
which is known to offer value for money (O'brien, 2016).
Response of suppliers: the suppliers in this tendering process are recommended to make
sure that they are present in the briefing sessions which are being carried out by an organisation.
The suppliers in this segment will prepare and submit their response in return to requirement of
an organisation. It is necessary to attach all the relevant documentation along with conformation
to the template and must be submitted prior to last date (Paço, Ferreira and Raposo, 2016).
Evaluation and selection: This is referred to last stage in the contractual process as
tender which have been provided by numerous supplier are checked and evaluated so that right
option can be opted. The tenders in this stage are tested against requirement of an organisation
along with evaluation of their strengths and weaknesses offered by them. This evaluation makes
easier for organisation to select the supplier which is offering decent quality of input within
allocated budget (Paço, Ferreira and Raposo, 2017).
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It is recommended to this organisation to look for alternative approach to competitive
tendering. It is essential for a business organisation to communicate freely and openly with
existing suppliers of the organisation so that right pricing for supplies could be determined. It is
equally important to form a long term relationship with the supplier rather than looking for new
supplier during every project. Sharing a part of profit with the supplier assures that he is able to
provide best of products and services at cheaper rates (Horton, 2016).
TASK 3
Covered in PPT
TASK 4
P6 Assessment of potential outcomes of a pitch
It can be said that there are numerous outcomes to a business pitch depending upon the
perception of interest of investor who have been targeted (Rich, 2013). A brief mention of
outcomes of pitch are as follows:
Acceptance: The most favourable outcome of a pitch is that it is being accepted by
investor and they are able to invest in the business idea. The pitch have been clear and they are
believe that is endeavours by organisation will be helpful in availing better results for them
individually and for organisation (Wiener, 2017).
Rejection: There is an equal probability for rejection of this pitch. The investor does not
see potential in the idea or have not been impressed by the manner in which idea is being
presented to them. The pitcher needs to take this as an experience and identify shortcomings so
that next pitch can be presented in an improved manner so that probability for acceptance
increases (Chang and Rieple, 2013).
No response: This can be termed as one of most unfavourable outcomes of a pitch. The
investor is not able to make a decision whether to invest in the business or not. Meanwhile an
organisation is not supposed to go to other investor until decision arrives. There is an absence of
feedback and stakeholder of this business idea generally awaits for investor to respond which is
most difficult part in the pitch (Dawson, 2014).
M4 Recommendation for fulfilling their Post-pitch duties and addressing desired issues
Every business organisation is established for some purpose and aims that has to be
fulfilled by the management in effective manner. There is time that has been set to fulfil it in
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effective and efficient way. There are various duties and responsibilities which are performed by
individual entity that is present in pitching procedure. Some duties that must be implemented by
the business organisation are described below:
 Greetings: After carrying out pitching procedure, management of organisation have to
construct the healthy relationship that has been shared between various individual that are
present there (Kamin, 2013). Stakeholders, investors play a effective role in Mark &
Spencer hence it is necessary to satisfy their needs and requirements by delivering high
quality services to them.
 Constructing conducive relationship: There are some benefits and advantages that are
faced by the organisation and therefore it need to be fulfilled by establishing a healthy
relationship between employees that are working in Mark & Spenser. Manager have to
take care about all these aspects to satisfy their needs and wants and making them happy
so that maximum outcomes can be achieved by them (Healy, 2011). Management have to
draft several policies and procedures that is concentrated on maintaining the effective
relationship between workers so that they could contribute in achieving final aims and
objectives of the company. Mark & Spenser have formulated proper system to carry out
this process in effective manner.
D4 Critical evaluating the pitch and post pitch outcomes for desired issue and risk management
Risks and uncertainties are consider part and parcel of the business organisation as there
are different types and nature of risks that are faced by the management. They directly or
indirectly affect the overall functioning and transaction of the company hence it is necessary to
develop proper system to face these risks and solve them in effective manner (Negrón, 2014). It
is the responsibility of the management system to build such policies and norms that need to be
applied by solving this risk and uncertainty and negative impact can be minimized. Investors
lead to the creation of high risks that has to be managed by the Mark & Spencer properly so that
they do no affect the functioning of company. The proper system is developed that focuses on
constructing the better and health relationship with their customers so that they remain happy and
contented for longer period of time. On the other hand, proper structure should also be
maintained so that performance of every employee or worker must be enhanced in order to make
their contribution at maximum level and results in accomplishing the final or ultimate of
organisation aims and objectives in set time period. It is very much necessary to increase the
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overall productiveness and efficiency of individual at sustainable level. There are several process
which is carried out in this respect which helps to determine the risk factors and implement
proper management to reduce it and result in achieving final goals (Nudelman, 2017).
CONCLUSION
It can be concluded from the above report that pitching and negotiation skills stands
crucial for an organisation as it helps in forming right environment and ensuring that right
relations could be maintained. The creation of a pitch assures that a business is able to avail
investment from prospects and fulfil its business idea. Therefore it is essential to focus on
language and media of communication so that pitch emerge to be impressive and there are higher
chances of acceptance. The request for proposal is a manner through which tender can be invited
which is helpful to secure a supplier who is delivering value for money services. It is essential to
for a pitcher to fulfil post pitch duties so that relations could be maintained.
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REFERENCES
Books and Journals
Chang, J. and Rieple, A., 2013. Assessing students' entrepreneurial skills development in live
projects. Journal of Small Business and Enterprise Development. 20(1). pp. 225-241.
Cooke, B. and Zaby, A., 2015. Skill gaps in business education: fulfilling the needs of tech
startups in Berlin. Journal of Higher Education Theory and Practice. 15(4). p. 97.
Dawson, C., 2014. The Mature Student's Study Guide 2nd Edition: Essential Skills for Those
Returning to Education or Distance Learning. Hachette UK.
Dierdorff, E. C., Rubin, R. S. and Bachrach, D. G., 2012. Role expectations as antecedents of
citizenship and the moderating effects of work context. Journal of Management. 38(2).
pp. 573-598.
Healy, K., 2011. Social work methods and skills: the essential foundations of practice. Palgrave
Macmillan.
Hendricksen, D., 2014. 12 more essential skills for software architects. Addison-Wesley
Professional.
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use Soft Skills to Get Hard
Results. Pearson UK.
Kamin, M., 2013. Soft Skills Revolution: A Guide for Connecting with Compassion for Trainers,
Teams, and Leaders. John Wiley & Sons.
Negrón, R., 2014. New York City's Latino ethnolinguistic repertoire and the negotiation of
latinidad in conversation. Journal of Sociolinguistics. 18(1). pp. 87-118.
Nudelman, G. R., 2017. Engineering identity: Analysing e-portfolios in a professional
communications course. South African Journal of Higher Education. 31(2). pp. 211-
225.
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.
Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship. 21(1).
Rich, C., 2013. The Yes Book: The Art of Better Negotiation. Random House.
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.
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