Marks & Spencer: Report on Pitching and Negotiation Skills for Success

This report provides a comprehensive analysis of pitching and negotiation skills within a business context, using Marks & Spencer (M&S) as a case study. It begins by outlining the negotiation process, emphasizing stakeholder engagement and its importance for successful business operations, particularly within M&S's retail environment. The report then delves into the Request for Proposal (RFP) process, detailing essential documentation and the consequences of breaching agreements. The report also covers the pitching process and includes a dynamic and creative pitch for a new product launch. Furthermore, it examines the outcomes of the pitch, offering recommendations for managing post-pitch issues, such as pricing strategies and product variations. The report concludes with a summary of key findings and recommendations for effective negotiation and pitching practices.

PITCHING AND
NEGOTIATION
SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Negotiation process and engagement of key stake holders in negotiation process...............1
P2 Negotiation process................................................................................................................2
TASK 2............................................................................................................................................3
P3 Request for proposal and documentation and consequences for breaching agreement.........3
TASK 3............................................................................................................................................4
P4 Pitching process.....................................................................................................................4
P5 Dynamic and creative pitch for new product launch.............................................................4
TASK 4............................................................................................................................................5
P6 Outcomes of Pitch and recommendation for managing post pitch issues.............................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Pitching and negotiation process plays an important role in organisation as it is focused
on seeking interest of stakeholders by speaking to them about the interest and benefits of an
organisation. The report will outline the negotiation process and involvement of stakeholders of
Marks and Spencer. M&S is the leading retailer of UK, and its core products are clothing,
accessories etc. Further, it will discuss about request for proposal and essential documentation in
case of breaching agreement with firm. Also, it will outline outcomes of pitch process and
appropriate recommendation which can be used by Marks and Spencer to deal with Post pitch
issues.
TASK 1
P1 Negotiation process and engagement of key stake holders in negotiation process.
Negotiation is process where two parties discusses and argues on issue in rot find result
on the basis of common interest. It is important for an organisation to negotiate with stakeholders
because it helps the company in successful management of business operations. Negotiation with
stakeholders is the most prominent and critical part of Mark and Spencer because in this the
focus of management to seek consent of key individual on the chge process of firm (Mejía-
Arauz, Dayton and Henne-Ochoa, 2018). Discussion and information process with stakeholders
is known as negotiation where the motive manager to analyse improvement measures on the
basis of shared interest and values. The ultimate aims behind conducting negotiation process of
serving satisfaction to key person of organisation. Stakeholders depict a vital part in almost all
sort of organisations where they play a significant role in deciding several numbers of things for
a smooth and effective functioning of the firm. It is hereby with a significant role of stakeholders
in the process of negotiation that involves some major number of changes in the workforce with
some financial considerations as well. It not only involves concerning about bringing significant
changes in workforce planning but together includes bringing some other vital changes that are
important to fulfil the actual requirements of the customers in the market. M&S together follows
a procedural approach of negotiation by together involving its stakeholders in it. It is basically a
stepwise procedure which is as stated below in which the management first aims at making
arrangements- It is a foremost process in which M&S is hereby responsible to decide a list of
participants to be involved in this process with a clear set of aims and objectives to be
communicated to all included stakeholders. Further, Identifying as well as discoursing upon
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some potential areas of arbitration- Being the 2nd stage of this process, this involves both the
parties to present their views in terms of achieving their set aims and objectives. Bargaining and
proposing, is the stage in which the parties involves in this process are known to bargain to reach
to a point that serves the intent of both involved parties. Lastly, closure in which, the parties are
responsible to take a final decision, serving the needs of both the involved parties.
Negotiation process is point of discussion with the help of which the management is able
to analyse interest individuals with company and its functions. Like, Marks and Spencer ensures
negotiation in presence of employees because as per manager these are the individual which rule
business operation and are aware about changing preferences of consumers. Moreover
employees are the individual who understand the needs of maintaining cost effectiveness and
altering process. In addition, the firm involves shareholders in negotiation because these are the
persons who invest in business of an enterprise and have complete share in profits and losses of
entity. Similarly, suppliers are the key drivers of retailers because availability of quality raw
material ant cheapest possible price is controlled by suppliers. Thus, engagement of stakeholders
in negotiation process is an essential part of retail business because it helps the enterprise in
maintaining ethical practices of organisation to analyse interest of stakeholders (Tse, 2014).
Hence, it is the process which helps in deriving appropriate improvement measures which can
helps in enhancing vales of services with mutual interest ad consent.
Rationale for negotiation process
The motive behind conducting negotiation process is to manage stable business function
by serving satisfaction to all individual who share interest with organisation and its functions.
Moreover, it is the practice which helps in deriving various loopholes and need of changes as per
argument and discussion. However, negotiation process is conducted with the motive of
managing safe practices by seeking advise from every person who is related to firm and its
functions (Andrews, 2016). Thus, it assists in altering and modifying functions on common
interest which reduces the chance of further complications.
P2 Negotiation process
Conducting systematic negotiation process allows the firm in establishing proper
agreement. Further, the steps assist management in reducing obstacles and involving essential
detailed step wise process. The process used by Marks and Spencer is discussed below:
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 Preparing and Planning: In this the manager of organisation collects all the information
which needs to discussed in meeting on what basis every particular thing can be argued.
Preparing for negotiation is the foremost and most important step because in this the
manager outlines all the basic arguments which can occur and how to manage discussion
on mutual consent.
 Establishing ground rules: In this the manager set the framework on which the
discussion will conduct and will carry forwarded. Further, in this step the company
ensures that on what points the management can agree (McKendrick, 2014). Like, advise
given by stakeholders needs to be as per planned changes and ethical.
 Justification and Clarification: It is the step when management confronts stakeholders.
In this the firm seek interest of every person which helps in developing option, sharing
information and deriving various needs which ca be considered as per planned changes.
However, it is the step by which Marks and Spencer is able to analyse individual interest
with company and its functions. Executing and Summarizing: It is the step in which management frames detailed
analysis of all considerable arguments. Views of every person is considered and
summarized on one common interest and then the modification are executed with the
helps of agreement in order to avoid future chance of conflicts and disinterest of any
person (Miyamoto, and Ito, 2017).
Critical Analysis of steps of negotiation process
Following step wise negotiation process assist the management in considering necessary
details and establishing systematic flow. But on other hand negotiation process can be obstacle to
employees performance if in case management ultimate decision varies from employees
argument in process. Thus, it can be argued that conducting negotiation process helps the
management in prior planning in which Marks and Spencer is able to consider all arguments
which can be occurred due to conflict between two parties who share different interest with
organisation.
TASK 2
P3 Request for proposal and documentation and consequences for breaching agreement.
Request for proposal is the record of guidelines which outlines mandatory terms and
conditions which aims at protecting interest of organisation and its products and services. The
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RFP of retailer comprise every necessary detail which is required to keep stakeholders aware
about firm process ad functioning ( Cham.un and Kyle, 2011). The proposal is forwarded by
Marks and Spencer to maintain ethical business functions and to seek for suggestion which can
assist in establishing improvement in an enterprise. In this case management of company calls
meeting to seek views on draft of proposal. This step is based on discussion where the manager
aims at making stakeholders aware about the changes. Thus, to conduct Request for Proposal the
firm follows step wise process which is described below:
 Analysis of buyers requirements and changing trends
 Analysing benefits ad risk related to proposal
 Analysing development tolls like software and hardware (Crump, 2011)
 Determining project breakdowns to ascertain life cycle of project.
However, breaching rules and contracts plans is a legal offence to which abiding is
necessary. Anyone found not following the rules is punishable offense which can lead to
cancellation of agreement, damages, loses etc. Thus, following rule of RFP process is an ethical
process and it is the responsibility of manage is to ensure that confidentiality and appropriate
implementation of RFP agreement in order to maintain trust of stakeholders.
Analysis competitive tendering and contract process
Competitive tendering is the term which was enforced to protect interest of organisation
who supply goods and services on agreement. The focus of this system is to improve cost
efficiency of state funded organisation that comprise governmental, local and central
departments (Lewicki and et.al., 2011). Competitive tendering is process of seeking equipments,
raw material and different resources from various suppliers. However, competitive tendering is
beneficial for Marks and Spencer in various ways like, it assists the organisation in managing
value of money which improve cost effectiveness of business operations. In addition, the system
is effective for enhancing quality of services as it derives various alternatives for accomplishing
goals (The contracting process, 2018). The tendering process is done with the helps of master
agreement which involves certain steps such as:
 Offer is an opportunity which is given by party to resolve certain issue between two
parties for the sake of business.
 Acceptance is agreeing to offer by disputing parties.
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 Consideration is reading and abiding the agreement and its terms and conditions carefully
(Goldberg and et.al., 2014).
 Applying law to agreement in order to maintain mutual obligation to agreement.
 Ability in both parties to abide the rules and legal capacity of agreement.
TASK 3
P4 Pitching process
Enclosed in power point presentation
P5 Dynamic and creative pitch for new product launch
Enclosed in power point presentation
TASK 4
P6 Outcomes of Pitch and recommendation for managing post pitch issues
Pitch was based on launch of exclusive range of Women's leather Jacket by Marks and
Spencer. However, to maintain effectiveness of procedure the manager implemented the use of
pitch process. It involved stakeholders like, suppliers, employees, media and shareholders. As
per the success of pitch it has been derived that launch of exclusive range is remarkable and its
has set trend among females across the globe (Goldberg and et.al., 2014). However, according to
stakeholder the idea of promotion via social media advertising is an effectiveness but
shareholders and suppliers argued on the schemes of offering discount to first 100 consumers
because it can create mess for the store management (Jun and Kyle, 2011). Therefore, with
regard to this, it can be recommended that firm can offer discount 10 first on first purchase to all
consumers. This will help in maintaining equality among buyers and will also assist in boosting
sales. Further, the stakeholders discussed about the limited colours in jacket which will be
obstacle to sale s and profits. Therefore, to overcome issue, it can be recommended that firm can
produce more colours but after the consumer response to limited production. Thus, it will help
the company in making optimum utilisation of resources. A last outcome of this pitch in terms of
its premium pricing strategy could lead to an unfavourable consequence of this new product
launch. It is with a special concern of youngsters who may not afford such high priced product
and may consider buying high quality product in lower price. It is thereby recommended to this
pitch to begin with a penetration pricing strategy to attract a large set of consumers towards this
newly launched product. This way, they will be able to gain a high market share and can
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consider raising the price once after the closure of their promotion period. Another is economy
pricing strategy that can also be adopted by M&S with thinner margins of profit at an initial
stage. This will also necessitate them to fix a very low budget for marketing and advertising.
Critical Analysis of pitch process and post pitch outcomes
Pitching process is effective because it Helped Marks and Spencer in making
stakeholders aware about all the necessary details which is considered form launch of exclusive
range (Lewicki and et.al., 2011). Summarizing post pitch outcomes is most crucial part because
in this it is the responsibility of management to implement changes in suggest issues.
CONCLUSION
The report outlined about pitching and negotiation process which plays crucial rule
management of business operations. It identified about negotiation process and engagement of
stakeholders of Marks and Spencer. It is leading retailer of UK which deals in variety of
products an offer its services globally. Further, the report summarized about negotiation process
followed by management to seek interest of stakeholders on changes to minimize chance of
conflicts. Apart from this, it determined about Competitive tendering, a system which was
enforced to protect interest of organisation who supply goods and services on agreement. Thus,
it concluded with outcomes of pitch which was the launch of exclusive range of women's leather
jacket and recommendation to deal with pet pitch issues.
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REFERENCES
Books and Journals
Mejía-Arauz, R., Dayton, A. and Henne-Ochoa, R., 2018. Collaboration or Negotiation: Two
Ways of Interacting Suggest How Shared Thinking Develops. Current Opinion in
Psychology.
Tse, T., 2014. Negotiation between Fashion Marketers and Journalists in Asia. Asian Journal of
Business Research ISSN, 4(1), p.2014.
Andrews, N., 2016. Sources and General Principles of English Contract Law. In Arbitration and
Contract Law (pp. 165-175). Springer, Cham.
McKendrick, E., 2014. Contract law: text, cases, and materials. Oxford University Press (UK).
Miyamoto, M. and Ito, A., 2017, July. Analysis of Pitching Skills of Major League Baseball
Players. In International Conference on Applied Human Factors and Ergonomics (pp. 15-
29). Springer.
Cham.un, J. and Kyle, G.T., 2011. Understanding the role of identity in the constraint
negotiation process. Leisure Sciences. 33(4). pp.309-331.
Crump, L., 2011. Negotiation process and negotiation context. International Negotiation. 16(2).
pp.197-227.
Lewicki, R.J. and et.al., 2011. Essentials of negotiation. Boston, MA: McGraw-Hill/Irwin.
Goldberg, S.B. and et.al., 2014. Dispute resolution: Negotiation, mediation and other processes.
Wolters Kluwer Law & Business.
Jun, J. and Kyle, G.T., 2011. Understanding the role of identity in the constraint negotiation
process. Leisure Sciences. 33(4). pp.309-331.
Lewicki, R.J. and et.al., 2011. Essentials of negotiation. Boston, MA: McGraw-Hill/Irwin.
Goldberg, S.B. and et.al., 2014. Dispute resolution: Negotiation, mediation and other processes.
Wolters Kluwer Law & Business.
Online
The contracting process. 2018. [Online] Available through:
<https://rgw.arizona.edu/administration/negotiation-and-acceptance/contracting-process>.
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