Analysis of Pitching and Negotiation Skills at Walmart

This report provides an in-depth analysis of pitching and negotiation skills, focusing on their application within Walmart. It explores the importance of these skills for business development and success in a competitive market. The report covers key concepts such as negotiation processes, stakeholder management (including investors, customers, employees, and suppliers), and the Request for Proposal (RFP) process. It details the five steps of the negotiation process: Prepare, Exchange, Bargain, Conclude, and Execute, along with the advantages and disadvantages of each step. The report also examines essential documents, the role of RFI, and the consequences of breaching contractual agreements. The analysis highlights how Walmart utilizes these skills to enhance profitability, attract a customer base, and maintain strong relationships with suppliers. The report aims to provide insights into the practical application of these skills in a real-world business context, offering valuable information for students studying business and management.

PITCHING AND NEGOTIATION SKILLS
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Table of Contents
Introduction......................................................................................................................................3
Learning outcome 1 and 2...............................................................................................................3
Learning outcome 3 and 4...............................................................................................................9
Conclusion.....................................................................................................................................10
Reference List................................................................................................................................11
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Introduction
Negotiation, as well as pitching, are the two vital elements and skills that are needed to be in
management in order to win any contract or argument. It is very difficult for a small organization
to survive in this competitive market. Thus pitching and Negotiation skills help such
organizations to run and survive in the market and as today’s business environment is dynamic
and innovative in nature, thus it is required to adopt such skills. In an organization, good pitching
must be conducted by a manager so that in the competitive market they can easily increase their
sales by attracting a huge customer base. Whereas on the other hand good negotiation skills also
needed in an organization that will help in a better relationship and safe transaction with the
customer.
In each and every organization, perfect pitching, as well as negotiation process, must be
conducted as it helps the organization to comfortably express their deals between other parties
and hence negotiating with the party on the terms of the company to meet a mutual outcome
between them. The following report describes the different steps of pitching and negotiation
process which enable the manager of the business to win the various contracts and hence obtain
more benefits. Negotiation skill includes convincing a business decision by the first party to the
other party. Further, the report also includes various skills which are needed to be focus by the
manager while the negotiation process is going on. Also, some steps are also taken of negotiation
and pitching process. The most important aim of this report is to convey the proper knowledge
and techniques which are required to improve such skills in a student. The company taken for
this project is Walmart. Walmart is among the world’s greatest retailer company which has a
revenue of around 514.4 Billion of goods in around 2009.
Learning outcome 1 and 2
Negotiation
Negotiation is a type of process in which two parties are involved and share their viewpoints on a
common business problem or decisions and try to convince each other as they have different
viewpoints on it. And after convincing, they need to establish a mutual concern on the agreement
on certain problems (Adriaensen et al.2019). In every organization, Negotiation is a very
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important tool in the competitive market and thus the manager of the Walmart company needs to
adopt various ways to deal with which they can get more benefits. Negotiation is required in
each and every situation and thus in Walmart also Negotiation takes place in a different situation
where it interacts with various type of business dealers and they can easily fix the prices of
products and make able to sell it to the targeted customers.
Reason for taking place of Negotiation
The reasons for taking place of Negotiation in Walmart is that most of the time there are
situations in which the results are ore in various conditions and more than two parties are
involved having different viewpoints in it but they cannot come to a conclusion that which result
is suitable and benefit for them (Copper-Ind, 2019). One more reason of taking place of
Negotiation in Walmart is that the company wants to give authority on dividing and sharing
various resources. Also, the manager in the organization sells more products and services to the
target customer in order to raise the profitability ratio of the business.
Key Stakeholders during the process of Negotiation
In the negotiation process, different stakeholders are involved. Walmart includes various
stakeholders involved in the negotiation process. The stakeholder is placed as per their
preference by the company. Thus the different stakeholder of Walmart includes investors,
creditors, customers, employees, shareholders, and suppliers. Whatever decisions are taken in the
negotiation process on buying and investing, it will affect the stakeholder of Walmart. In order to
have a good interaction and discuss the aims and objectives of the company, the manager
conducts a meeting where the stakeholder is also identified and the budget will be made as per
the aims and objectives
Sometimes the stakeholders is affected directly by the process of making decisions. Basically,
stakeholders are the person who is influenced by the outcomes of the decision and thus affected
by the results of the decisions. Negotiation process plays an important role in Walmart as it helps
to enhance the profitability ratio of the company
Steps of the Negotiation process in Walmart
Basically, the negotiation process of Walmart includes 5 Steps which helps to get many benefits
and these steps are described below:
(i) Prepare
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It is the first step of the negotiation process, but generally, this step if skip by many individuals
and jump to the next steps. In this step, the manager of Walmart develops a certain plan which
helps the organization to run effectively in the competitive market.
(ii) Exchange
This is the second step of Negotiation process in which the information is exchanged between
the two involved parties which helps them to know each other view-points and will come to a
mutual conclusion.
(iii) Bargain
This is the third step of Negotiation process in which the two parties try to convince each other
by bargaining certain information and the most important part is that both parties need to give
and take at the same moment and the party who fails to take get convinced by the other.
(iv) Conclude
This is the fourth step of the Negotiation Process and in this step, the final information is shared
and a mutual decision is finalized which fulfills the needs of both the parties. Also in this
process, the involved parties share a different commitment towards each other in order to achieve
their requirement.
(v) Excrete
This is the fifth and the last step if the Negotiation process. In this step, both parties come to a
conclusion on mutual agreement and take a final decision which helps to develop a powerful
relationship with the customers and staff.
All those above steps of the Negotiation process help Walmart to get new customers and attract
a huge customer base which helps to raise its profitability ratio in such a competitive market.
Main steps and information needed in the Negotiation process and winning deals
For any new deals contracts, some steps are taken in the initial stage of the Negotiation process
and while generating some ideas which are described below:
(i) In the first step, the manager of Walmart decides the first place where the Negotiation is going
to hold.
(ii) The main aim of the manager of Walmart is to identify how to convince the other party in the
Negotiation Process.
(iii) The manager of Walmart needs to originate from the top management for some other
organization to give some different parties.
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Evaluation of the different steps of Negotiation process and submitting logical solutions for
dealing with the problems that may arise.
The steps of the Negotiation process have some advantages as well as also some disadvantages
which are mentioned below:
PREPARE
Advantages Disadvantages
For more analysis, a person must attempt to
prepare a particular form of approach such
that they can conveniently achieve optimum
benefits
While developing some strategy more amount
of money needed and time taken for which
Walmart has to face too many difficulties.
EXCHANGE
Advantages Disadvantages
It is very easy for the manager of Walmart to
enhance profitability and attract a huge
customer base by sharing some important
information with each other.
The one limitation of exchange such relevant
information is that some information get
leaked in the organization by the staff of the
company for which Walmart has to face many
difficulties.
BARGAIN
Advantages Disadvantages
It is among the most critical steps Walmart
performed while the Negotiation process is
going on in the organization. It would also
exclude other matters from the civil
Bargaining leads to weak investigation steps
and even the Walmart manager creates a
criminal history for many of the good people
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procedure.
CONCLUDE
Advantages Disadvantages
Both parties appreciate each person who is
involved in the Negotiation process because
of which they can come to a mutual
agreement on the contract.
Most of the time conflict arises during the
Negotiation Process. Sometimes the staff of
the company cannot satisfy the wants f the
customers due to which the company has to
face too many difficulties. And this arises as
they cannot identify the wants of the targeted
customer.
EXECUTE
Advantages Disadvantages
Some changes are also adopted in the
organization in order to attract huge customers
and also satisfy their wants as well as needs
effectively (Gbadegeshin, 2018). At last, the
parties exchange some future Negotiations
which gives them a lot of benefits.
By the time of executing certain strategies, the
company's manager faced issues, as the
organization was unable to meet the demands
of its target consumer.
Explanation and application of RFP Process
Request for proposal is a type of written document that is proposed by various agencies and
organisation who used the request procedure. The manager of Walmart is required to give
information about different procedures of documentation in order to give benefit to the supplier
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to compare with assets and some property. Various documents are needed in the RFP Process
which the company must undertake the main between the Request for Proposal.
Request for Proposal is a type of formal request where various issues are solved and benefits will
get. On the other hand, it is necessary for the manager Walmart to discuss the aims as well as
objectives needed for the organization by interacting among the stakeholders which also helps in
making effective budget strategy. The Request for Proposal is given to the suppliers as it is a
government that helps Walmart to get optimum benefits and thus satisfy the wants of the
consumers (Hoad-Reddick, 2017). By executing Request for Proposal in the organization, the
manager of Walmart got benefits in making a strong relationship with the suppliers.
Information including the comment about the proposal request was important for the firm for
addressing certain queries which are sometimes linked to the need for company job results has
already been established for the plan as well as the manager should also seek input from various
staff so that it might quickly enhance their work efficiency. After certain research, it was
observed that even a request for a proposal would also be sent soon in the initial case at various
levels of excellent contracting.
Key documents required in the context of the Organisation
The need of the document of RFP is to satisfy the supplier which is also known as RFI. These
documents depend on the technology as well as recess of the company. Sometimes these
objectives differ when the goals are not clear. The other various documents include budget, pay
structure, and those workers were completed and time is also fixed in an effective way. The role
of RFI in RFP is very vital when the objectives of the organization are not clear and when the
company introduces new Technology.
Main Documents required and the result of Breaching the terms of such agreement
Under violation of contract, unless Walmart selling meets its numerous contractual
commitments, the contract is broken and that the other party outside the contract is entitled to the
complete execution of the contract together with the challenging satisfaction of the contract
through the help of the superior authority (Horton, 2016). The effects of contract violation that
differ from person to person, which depending upon whom party ultimately violates its specific
obligations. Its most frequent effects of the violation are reduction in the amount paid for
damages and compensation, repair of the fault together with value in wait.
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Explanation of Contractual Process and managing and monitoring the important
documents
It is critical that the agreement needs to ensure because the protection including the position for
the defense of various forms of properties against any company is among the specific protective
defense. Through introducing the hierarchy structure in Walmart, the manager of the company
can quickly and efficiently handle all these records and processes. Some certain critical
documentations need to be safe, and they must then contract with a number of specific business
guidelines to help contribute some physical infrastructure elements to minimize the device's
threat.
Generally, monitoring is implemented which is associated with the necessity and the goal
imposed by various parties to the contract. Through this, the first move is to determine if the
Walmart in this dynamic environment can effectively do well to improve their profitability and
afterward the company's target. On the other hand, the next verification stage involves any
assurance that almost all various types of applicable contractual documentation are being
delivered and even in the correct manner. The next phase in the future is to minimize the
regulation that will be carried out and also to undertake several of the most crucial measures and
include some details.
Evaluation of the competitive Tendering
Profitable tendering is among the recruiting methods that are most common and Walmart uses to
create a more competitive company in this sector (Meiklejohn, 2017). The tender process would
continue to publicize the free market, such that the business will quickly draw huge buyers and
satisfy the wants of the customers.
Recommendations for finishing a Tender successfully with limited risk
It has been recommended to make a successful tender along with limited risk by using various
kinds of plans that are very important to the economy (O'brien, 2016). The Walmart manager
must determine the correct deal which is really crucial for the organization. On the other hand,
tendering is a process that takes more time, as well as the manager, should ensure the process is
in the correct direction. When Walmart is successful and even selected so it is very essential that
perhaps the business's manager needs to deliver those offerings to their customer so that they can
be met.
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Learning outcome 3 and 4
The Presentation is attached with this file
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Conclusion
It is very necessary for each and every company to have effective pitching as well as negotiation.
This is because, with the aid of introducing perfect pitching as well as negotiation procedure, it
became possible for the corporation to demonstrate an arrangement with two separate parties and
then to bargain with each other on the partnership terms in order to achieve mutual results. In this
report, the pitching, as well as negotiating method, was useful to concentrate on various factors
such that the business's employee could potentially retain the deal and can receive the full
benefit. Negotiation skill helps in convincing the other parties on the business problems and
decisions to the first party who has taken the decision.
The report focused primarily on various types of skills required in the negotiation process and
various steps and elements are also taken in the pitching as well as the negotiation process. The
company taken for this project is Walmart that is the world’s largest retailer.
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