A Comprehensive Report on Pitching and Negotiation Strategies for M&S

This report provides a comprehensive analysis of pitching and negotiation skills within the context of Marks and Spencer. It begins by defining negotiation and identifying key stakeholders, followed by an examination of the negotiation process and potential problems, offering solutions. The report then delves into the application of the RFP process, including essential documentation, and evaluates the contract and competitive tendering processes, making relevant recommendations. The report assesses potential pitch outcomes, recommends strategies for fulfilling pitch duties, and addresses associated issues. The report also addresses the importance of negotiation skills, and how these skills can create win-win situations, build respect, and improve the bottom line. The analysis covers the stages of the negotiation process and the challenges faced by Marks and Spencer, along with strategies for overcoming these challenges.

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 documentation4
D2 Evaluation of contract and competitive tendering process and making recommendations4
TASK 3............................................................................................................................................5
Covered in PPT.......................................................................................................................5
TASK 4............................................................................................................................................5
P6 Assess the potential outcomes of a pitch...........................................................................5
M4 Recommendation for fulfil port pitch duties and address issue.......................................5
D4 evaluate the post pitch outcomes for desired outcome and for manage risk....................6
CONCLUSION................................................................................................................................6
.........................................................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
Pitching and negotiation plays vital role in context of business firms. It has been located
that these are two main components that may aid an organisation in building up its reputation in
much more faster ways then their competitors does. In order to run business in a successful
manner and to gain competitive advantages it is necessary for organisations to recruit candidates
who have both pitching and negotiation skills (Chang and Rieple, 2013). Companies who have
high standardisation under workstation which is related to pitching and negotiation. Firm which
has been taken under this assignment i.e. Marks and Spencer that deals under clothing sector,
manufactures grocery items and accessories as well and carries a good brand name in all over
world. Report is going to include assessment of negotiation and of documentation that stays
involved under meetings and other things. Along with this, improvement of various pitch has
also been enclosed under this report that will help firm in grabbing good position in short period
of time.
TASK 1
P1. Determination of negotiation and key stakeholder involved
Negotiation is being stated as a key approach when it comes to reducing all the conflicts
and other problematic things that are being faced by workers while doing their business at
workstation. It has been located that both managers and employees keeps on dealing with various
sort of problems because technology and other things like policies gets changes which may raise
issues among individuals of a company. Therefore, negotiation process can help under this
section through making contract or agreements where every single thing can get fixed like
wages, working hours, leaves and many more (Cooke and Zaby, 2015). Salary negotiation gives
opportunities to both employees and employer to put their point of views in front of each other
and then lastly an agreement is being done after the discussion so that no issues can get arise in
near future. With the help of negotiation process win-win situation can be created by both staff
members and supervisors in Marks and Spencer where firm can expect high rate of returns on
investments. Some reasons that an organisation should consider negotiation process at workplace
given beneath:
Creating win-win situation: Negotiation process or skills can be stated which can create
win win situation for a business organisation. It has been located that agreement in between
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employers and stakeholders will directly reduce all the conflicts that can get arose at
marketplace. Along with this, companies that have taken under in use of negotiating process
raised positivity and created healthy environment at workplace.
Building respect: Negotiating skills builds up respect among both managers and
employees at workstation. Marks and Spencer's people works at workplace on agreement basis
and this is being followed by every single organisation at global level (Dawson, 2014). Along
with this, marketer, consumer and workers are some main people that can put impact on
profitability therefore, if a contract is being done in between them with considering different
aspects it is may be possible that firm may grab good position at marketplace in short period of
time.
Improving bottom line: Negotiation is one of major element that can be considered at
workstation by companies in order to reduce all the issue that are being faced by them right on
time. It is being located that lower segment (workforce )plays vital role at workplace because
they are the one to whom we can say as assets for them. Negotiation process may aid a company
in hitting their targets in short period of time (Dierdorff, Rubin and Bachrach, 2012). Through
this, retention which is related to employees can get improved with the help of negotiating
process..
M1 Steps involved in the negotiation process
In this context, some of stages of negotiation process have been discussed beneath:
Stage 1 Preparation: This can be considered as first and vital step while developing
negotiation process which is related to and includes leveraging of data that may aid negotiator in
grabbing good position in short period of time. Specific goals and objectives can be attained right
on time of organisation if gathered data is much relevant in nature for desired aims.
Stage 2 Definition of ground rules: Second phase where improvement under this section
may aid in attaining goals and objectives right on time. Policies and procedures stays there in
different manner which stays connected to negotiation process. Under this stage, decisions are
being taken by managers and leaders under that stays related to time and place both at the same
time (Healy, 2011). With the help of this, distinguishing patterns which is related to an
agreement that may aid companies in grabbing good position at marketplace.
Stage 3 Opening phase: Third stage where organisation raises there patterns that are
related to all the impression which has been implemented by governmental parties and here,
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managers puts it in front of people under meetings. Informations are being presented in front of
both employees and employers through considering all the data that may aid them in making
decisions right on time.
Stage 4 Bargaining Phase: Both employees and employers under this stage mostly
moves much closer to desired aim that has been formed by negotiation process. This step may
aid them in locating all the demands which aid all the parties that needs to be considered in an
appropriate sense. Win-win situation can be created by Marks and Spencer through this step.
Stage 5 Closure Phase: Collected data can be analysed and goals can be attained in short
period of time which is filled with various segmentations along with considering aim so that
information do not go irrelevant.
D1 Evaluation of steps of negotiation process and providing solution for problems which can
arise
Negotiating process stays filled with ample number of stages which may help business
organisations in global environment to hit its targets in specific or set time period. Along with
this, it has been analysed that taking under this negotiating process which contains various
problems and implementation of it may get bring risks with it at workstation. Therefore, it is very
much required for business organisation's negotiator to develop an appropriate agreement in
order to bettering the relations among employees and employees right on time in much effective
and efficient sense (Hendricksen, 2014). Along with this, it has been located that, some major
challenges that are being faced by Marks and Spencer is that expectations of employees cannot
be fulfilled every single time which raise conflicts and can put impact on working environment
of workstation in bad manner. Some of strategies in this context are given below:
Cognitive Ability: Cognitive ability of a person can be stated as major approach through
which reduction of all the challenges can be reduced to zero while considering negotiation
process at workstation of Marks and Spencer. Through this, multiple issues can be resolved in
short period of time.
Collaboration: Another approach which can reduce all the problems from maximum to
zero which may aid organisation to attain goals and objectives in specific time of period.
Focusing on interest: While negotiating it is required for organisation to grab attention
of employees and then to analyse the interest of them so that decisions can be made in an
appropriate manner that can create favourable conditions for them (Horton, 2016).
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TASK 2
M2 application of RFP process in context of an organisation along with key documentation
Request for proposal (RFP), is being considered as a modern process by an Marks and
Spencer can do its operations in specific time of period. With the help of this tool, availing of
services and prices of them that are being offered by companies can be reduced. This may aid
Marks and Spencer to build up relationships with consumers for a longer period of time. Along
with this, it is being analysed that RFP can also be known as bidding tool which can give M & S
high rate of returns on investments which has been done by them. Some of components
(documents) that are needed to implement RFP process are: solicitations, agency written request,
cost bid form, addendum and process of awarding and many more (Kamin, 2013).
Henceforth, contract or agreement which differs from each other are being legally bind
by governmental bodies where if any person found guilty can face charges like individual can
put behind the bars or some sort of punishment and so on.
D2 Evaluation of contract and competitive tendering process and making recommendations
In this context, it has been found that tendering process is filled with various components
and these are given beneath:
Determination of tender process: Primary step in which decisions are being pulled out.
Along with this, number of approaches are present at workstation such as selection and multi-
stage protectiveness.
Preparation of RFP: Stage which put light on preparing request for proposal which is
filled with various information.
Invitation of tenders: Complexity and problems are filled under this where Marks and
Spencer's tenderer improvises operations where cotton and polyester supplier should be properly
considered in order to improve productivity (Wiener, 2017).
Response of suppliers: Under this, suppliers recommends many things like delivers brief
sessions or conduct small meetings that can pull out company from various problems.
Evaluation and selection: Last stage under this process delivers number of supplier are
curbed and evaluation is also being done in order to adopt options.
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TASK 3
Covered in PPT
TASK 4
P6 Assess the potential outcomes of a pitch
Various outcomes can be there of a business pitch depend on the perception of investors
who have been targeted throughout the pitch (Nudelman, 2017). Major outcomes of a pitch can
be understood by the following points:
 Acceptance: This is known as the favourable outcome of a pitch as in this investor accept
the business idea and provide funds to invest in that. This happen when pitch is clear to
the investor and he believe that he will get return by invest in that pitch (O'brien, 2016).
 Rejection: This is unfavourable outcome of a pitch and is opposite to the acceptance.
This arise when investors does not see any growth potential in the idea and has not been
impress by the manner in which pitcher present it. It is very essential for pitcher to
identify the areas of improvement so that idea can be presented to audience in effective
manner (Negrón, 2014).
 No response: It can be another outcome of a pitch and this is also known as unfavourable
outcome. Under this kind of situation, pitcher fail to take a decision about invest in
business idea or not. During that time, entity cannot go to another investor to take funds.
Wait for the investor decision is known as very complex and difficult for organisation.
M4 Recommendation for fulfil port pitch duties and address issue
Various functions are perform by a business organisation and different type of decisions
are taken in order to serve its customers and to get desired outcome. Every individual involve in
pitching require to perform some specific roles and responsibilities as this help in implement the
pitch in an effective manner (Paço, Ferreira and Raposo, 2016). Major duties that require to be
implement by business entity is given in the following points:
 Greetings: After go through all steps involve in implement the pitch, manager remain
responsible to develop and maintain good relations with all the individuals involve in
pitch. Stakeholders and investors play an effective role in pitch so it is very important for
M&S to identify their needs and satisfy the same so entity can retain them for a long
time.
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 Constructing conducive relationship: Maintain good relations with customers is very
essential for a business enterprise as this provide various ling term benefits to company.
It is very important for manager to first identify and analyse the requirements of investors
in order to get their support to execute the project (Paço, Ferreira and Raposo, 2017). For
this entity require to formulate effective strategies and policies to maintain good
relationship with customers and can attain its set goals. Proper system is require to be
utilise by firm to do all this in an effective manner.
D4 evaluate the post pitch outcomes for desired outcome and for manage risk
Uncertainties and risk both factors are known as an inevitable element of every enterprise
as various type of risk is face by entity while performing business activities. All this affect the
actions and decisions of a business enterprise in both direct and indirect manner. For deal with
the risk, identification of same is very important as this help manager in formulate effective
policies and strategies to deal with risk factors. With this negative impact related with risk
factors can be minimised (Rich, 2013). This help effective execution of project and at the same
time help in get return on investment. With this, entity can create and maintain good relations
with customers and can retain them for a long time period. All this, support in achieve set goals
and ensure sustainability of enterprise. Various process and tools are there which can be use by
entity to ascertain the risk element for ensure effective implementation of project and help in get
desired outcome.
CONCLUSION
From the given project report, it can be summarised that it is very important for a
business organisation to have effective pitching and negotiation skills as this help in get
investment for business ideas. Before present a pitch to potential investors, it is very important
for do proper planning as this help in answer to the queries of investors and help in get
acceptance of pitch. Media and language use by pitcher play a big role in pitching and increase
its success chances. It is very important form pitcher to present the business idea to investor in
creative manner.
REFERENCES
Books and Journals
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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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