Rowlinson Knitwear: Pitching and Negotiation Skills Report

This report, focused on pitching and negotiation skills, delves into the core concepts of negotiation, its significance, and the key stakeholders involved, particularly within a business context like Rowlinson Knitwear. It examines the negotiation process, including crucial steps like planning, establishing ground rules, clarification, problem-solving, and implementation. The report also details the Request for Proposal (RFP) process, outlining the necessary steps from assessment and analysis to contract negotiation. Furthermore, it explores the contractual processes, including contract selection, information gathering, negotiator selection, review, and signing, emphasizing the importance of proper documentation management. The content provides insights into business negotiation strategies, RFP procedures, and contractual management in organizations, offering practical guidance for business development and stakeholder management.

Pitching
and
Negotiation
Skills
1

Contents
Contents.......................................................................................
TASK 1............................................................................................................
P1 Determine what is a negotiation, why it occurs
and who the key stakeholders are during a
negotiation process......................................................................................
P2 Evaluate the key steps and information required
for negotiating and generating deals............................................................
REFERENCES...............................................................................................
2

TASK 1
P1. Negotiation, its occurrence and
stakeholders
Negotiation in relation of business is effectual method
that generally allows an business firm to accomplish
settlements related to various producers by adoption of
strategies is relation of cooperation as well as
collaboration. In relation to small business, such as
Rowlinson Knitwear, skills related to negotiation
within particular person in an organisation is important
because business firm can experience several
advantages from same. Explanation of some are as
follows :-
3

 By implementation of proper negotiation skills
an business firm will be able to make sure that
staff retention will be high. In addition to this,
negotiation will be related to salary as well as
other benefits which employees wants.
 With the assistance of negotiation it will in
effective manner make sure better as well as
more prominent relation with customers of
company.
 Along with this, better or effective deals will
be fetched through customers or investors by
practising negotiation.
• Along with this, there are various effective
stakeholder in an organisation who are related with
4

overall negotiation procedure. For instance, in
Rowlinson Knitwear negotiation procedure is related
to negotiation with staff members in term of disputes
related to salary. Thus, particular person which is
related within scene, along with an proper or suitable
justification are discussed below :-
 Employees – These are important stakeholder
of an organisation as overall procedure will be
designed as well as implemented in relation of
negotiation with staff of business firm in
relation of payment disputes.
 Human resource management – It is one of the
important department of Rowlinson knitwear
as they ensure that every staff member could
understand the business firm point of view as
well as motivative them for appropriate
settlement of the same.
 Finance manager – They are also another
stakeholder who are important part of business
firm who help in regulating finances of
respective company. In overall negotiation
procedure finance manager play prominent role
for negotiating with staff members where
5

finances will be allocated and why which area
needed more attention towards workforce.
 CEO – They are also one of the prominent
stakeholder related with negotiation process is
CEO of Rowlinson Knitwear. It is because
they are liable for authorise the staff payment
schemes, policies and many more. Although,
CEO is one of the individual person in
negotiation of staff salary.
P2. Evaluation of key steps and information
Negotiation is important part which is needed
to be understand in appropriate manner as well as
implement in small business for making sure
effectiveness in procedure of business firm. Thus,
there are several steps which will be implemented
while negotiation in Rowlinson Knitwear explanation
of these are as follows :-
 Planning – This is first step related with
procedure of planning as well as it includes
accumulation and organising various proper
information that is important for entire process.
For example, investment report, productivity
report and many more. Furthermore, all parties
6

related with negotiation is needed for preparing
themselves in manner that make sure validity
as well as relevance to their claims. This
require by party to implement 360-degree
approach with their working.
 Ground rules – there are various type of
ground rules that are required to be pre set
before doing any negotiation as well as after
planning. In addition to this, ground rules will
address area which require place, time,
anticipated conflicts, possibilities and many
more.
 Clarification – This step is related to
clarification as well as justification from both
parties in proper manner where they describe
themselves, viewpoint in effective manner as
well as each of them educate each other in
relation of their reason and perception of
negotiation. Within this step, related
information from view point of staff within
above case will be annual report about
employees productivity as well as retention. In
addition to this, manager and CEO information
7

will be related to business opportunity report,
investment report and many more.
 Problem solving – In this progression of
exchange, the gatherings related in this
procedure would fittingly be haggling with
each other, so as to make a success lose
circumstance. This implies, the data introduced
by both the gatherings would be related with
their apparent advantages. For example, on the
off chance that the instance of pay debate
introduced above is fittingly reflected, at that
point the representatives would introduce the
data with respect to how the firm would be
profited by giving more significant
compensations to them by demonstrating
future foreseen projections because of higher
worker maintenance. Then again, the chiefs
and CEO would deal with representatives
comparable to long haul advantage which they
may accomplish.
 Implementation – It is final stage of
negotiation procedure which is related to
implementing as well as closure. In this stage
mutual decision is accomplished through
8

negotiating part as well as new agreements are
formulated.
P3. RFP Procedure and documentation
required
RFP (Request For Proposal) is related to an
proper business document that provides appropriate
details related to particular project, along with solicits
from various contractors who provide assistance to
company in achieving same within effective ways. In
addition to this, there are several steps which small
business such as Rowlinson Knitwear needed for
accomplishing their process within effective manner.
Explanation of these are as follows :-
 Assessment and analysis – The initial step of
RFP process is related with a suitable
investigation just as the arranging of the entire
venture. Thinking about the above situation, in
the event that supervisors of Rowlinson
Knitwear concur on upgrading the pay rates of
representatives, this would additionally require
extra venture. Along these lines, this
progression would be comprehensive of a
powerful improvement of the establishment
9

thought regarding the venture. Henceforth, in
this procedure, he required documentation
would be in connection would be venture plan,
business case, planning, timetable, and so
forth.
 Development of RFP – After evaluation of
necessities and other fundamental arranging
factors, this progression is related with drafting
the RFP, which would be coordinated towards
the degree, execution norms, expectations,
which would be imparted to specific financial
specialists for additional offering. The
documentation inside this progression would
be comprehensive of mission statement, legally
binding terms just as condition, audit course of
events, and so on.
 Engagement – Inside this stage, the RFP is
conveyed to the sellers or financial specialists
and their entries and reactions would be
procured on a particular date, after culmination
of the window. In any case, this progression
requires a fitting one-on-one discussion with
every one of the chose financial specialists,
comparable to giving them data concerning
10

why they ought to successfully put resources
into the association's drawn out arrangement.
Moreover, this progression observes obtaining
of reactions after explanation of questions. The
documentation in this progression would be
related with anticipated salary explanation and
Return on Investment, which would help the
firm in getting a successful arrangement.
 Negotiation and contract – After
investigation of the reactions, this progression
is identified with arrangement as far as most
elevated biddings. Additionally, in the wake of
choosing the most unmistakable financial
specialist, the firm would be successfully
joining the speculator for the organization on
legally binding premise.
Along with this, overall procedure needed drafting of
business proposal explanation of which are as
follows:-
BUSINESS PROPOSAL
Objectives Rowlinson Knitwear objective is to
enhance scope in effective as well as
appropriate manner in company. This
11

is needed for making sure employees
in organisation is at high retention for
making sure high productivity as well
as profitability.
Solution For this objective proposed solution is
to acquire proper funding as well as
investment for increasing their salaries
and productivity also.
Benefits With high productivity, investors will
be able to get high return on the
amount invested because of enhanced
profitability and better standards of
working.
P4. Explanation of Contractual process and
management and monitoring of
documentation
In an small scale organisation such as
Rowlinson Knitwear it is important that proper
contractual procedure will utilise as well as various
documentation for managing and monitoring which
help an business firm with perceived advantages as
12