Unit 44: Pitching and Negotiation Skills for Business Deals Report

This report delves into the crucial aspects of pitching and negotiation skills within a business context. It begins by defining negotiation and its significance in resolving conflicts and building relationships, emphasizing the importance of key individuals such as leaders, builders, scribes, and situation board representatives in the negotiation process. The report outlines the key steps for negotiating and generating business deals, including planning, preparation, defining ground rules, justification, bargaining, and closure. It further explores strategies for gaining the best deals, such as sharing information, ranking priorities, knowing target prices, making the first offer, and counteroffers. The report also examines how to generate new business and win deals by focusing on new leads, strong value propositions, marketing strategies, and clear sales strategies. Additionally, it covers tendering for contracts, preparing for negotiation through request for proposal forms, responding to RFPs with business proposals, and the contractual process and agreements. The report provides valuable insights and practical advice for small businesses on managing the pitching process and effectively navigating contract negotiations.

Unit 44 Pitching and
Negotiation Skills

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Negotiation in the business context.............................................................................................3
The key steps for negotiating and generating business deals......................................................4
The context of negotiation and the importance of key individuals in a negotiation....................5
How to gain the best deals/contract.............................................................................................6
How to generate new business and win deals..............................................................................6
Tendering for contracts................................................................................................................7
Preparing for negotiation through a request for proposal form...................................................7
Responding to a REP- creating a business proposal....................................................................7
The contractual process and agreements.....................................................................................8
Task 2...............................................................................................................................................9
A......................................................................................................................................................9
Pitching for business to business about purchasing the cafe pod beans products.......................9
B.....................................................................................................................................................10
Describing the Metrics through which a supplier assesses the pitch when comparing it those of
competitors................................................................................................................................10
Approaches to negotiation with suppliers..................................................................................11
Approaches to risk management and contract negotiation between suppliers and organizations
...................................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................16

INTRODUCTION
Pitching and negotiation skills plays a vital role in business environment because when
company's employees pitch about products or services to customers they are presenting about
company. These skills are important for any team member for whom communicating value and
attracting customers is favourable to make any kind of decision. Sales professionals are those people
in the small businesses who work in discipline to make a favourable decisions and pitch and
negotiate about products or services. The present study will provide advice and mentoring to small
businesses on how to manage the pitch process and tender for contracts. It will create an attractive
booklet on how to effectively prepare and manage a negotiation process to a small business.
TASK 1
1.1 Negotiation in the business context
In simple terms, negotiation is all about dialogue between two parties in order to resolve any
kind of conflicts between parties so that both the consent parties find an effective solution and accept
it. Basically negotiation occurs when parties wants to compromise in order to resolve issues so that it
would be beneficial for each of them and does not occur any kind of conflict between parties. As we
all know that in today's business environment, negotiation skills are really essential in both informal
day to day interactions and formal transactions such as service, legal contracts and negotiating
conditions (Mejía-Arauz and et.al., 2018). If the negotiation is done in a proper manner then it will
help people to avoid future issues and conflicts. Nowadays, when parties identify any kind of issues
they make strategic discussion that can help them to resolve an issue in a way that they find
acceptable. Here, parties avoid arguing and focus on future decision-making process and agree to
reach some form of compromise. With the effective negotiation skills, the business can achieve
success as it helps them to build Better and strong relationship with funder (McGuire and et.al.,
2020). Negotiation skills is very essential as it holds the key to getting ahead in the workplace and
helps people create value in contracts. In order to save professional relationship in the context of
business, people avoid conflict by having negotiation process. When conflict doesn't resolve it is
essential to consider mediation parties must be prepared to consider dispute resolution. Mediation of
third party can establish a positive and constructive environment for negotiation purpose.

1.2 The key steps for negotiating and generating business deals
In order to negotiate and generate business deals one must follow some tactics. First and foremost, it is
essential to listen and understand the parties issues and their point of view. On the basis of that make
discussion about making planning and understand the deal dynamics. Basically, the most important step for
negotiating and generating business deals is to make proper planning and preparation. Moreover, the
process of negotiation and generating of business deals can essentially be understood by having four basic
stage process such as planning, preparation, bargaining/negotiating and closure.1. Planning and preparation- In the business context, before starting the process one must be aware
about the major conflict between parties, the history leading up to the negotiation of the people
involved. With the help of this step, parties can easily prepare for the next step that is ground rules
and justification (Hu, Xiao and Wang, 2021). This step would be most important for a small
business. In this step, it is essential to know about which parties are involved, what is the issue, what
are their perceptions of the conflict and many more. Here, the parties will decide where a meeting
will take place and when and how they will discuss the problem.2. Definition of ground rules- this is the most essential step that needs to be taken into consideration.
This phase includes exchange of demands and proposals between parties. After that justification and
clarification stage will be implemented.3. Justification- now the exchange of demands have been done between both the parties, it will justify
their original demands (Donnelly, 2019). Basically, parties will grasp this opportunity for providing
informing each other about the problem and how each arrived at their initial demands. The best way
to resolve conflict is to do negotiation and do some kind of bargaining.4. Bargaining- this is the stage where people bargain about the issue. Basically this stage is crucial as
it is the actual give and take method. Here bargaining has been done between two parties so that it
would not create issue in the future.
5. Closure- this is the last stage which needs to taken into consideration while talking about negotiation
process. In this stage parties strengthen relationship and generate business deals.

1.3 The context of negotiation and the importance of key individuals in a negotiation
In a negotiation process, there are key individuals which plays a vital role and they are really
important (McGuire and et.al., 2020).
Leader- basically, leader coordinate the actions of the team members and lead the team in the
negotiation process. They make conversation successful with the support of other team members
when things are getting stuck. Here, he is the person who make important decision related to
negotiation and generating deals successfully.
Builder- builder is the person who create the deals, he put packages together in order to
exchange packages between parties. Basically, builder plays a financial role where they assess the
value and costs of items being exchanges between parties.
Scribe- he is the important person in the negotiation process because scribe is responsible for
maintaining a record of each conversation. Scribe does not need to produce a lengthy transcript so it
is essential for them to focus on short script and accurate one. This individual needs to stay up to
date about how each member in the parties are reacting.
Situation board representative- this person is also very essential as he jots down the
important information on flip chart so that it would provide detailed information their and everyone
in the team can easily see. During the negotiation situation board representative expect everyone to
see about essential information.
1.4 How to gain the best deals/contract
Everyone wants to negotiate and gain the best deals so it is essential to follow some tactics.
Share information- it is essential for people to share information, even when it is unrelated
to the negotiation, it will increase the outcomes when revealing some information.
Rank order your priorities- this is the another most favourable step which needs to be taken
into consideration because when people negotiate they know their key issues. So it is essential for
them to priorities things. In the business, people achieve better outcomes by ranking and leaving all
the problems on the table and being transparent about it. In this stage both parties can make
comparison about rankings and determine what the full set of options are.
Know about target price and walkaway terms
Talking about this step it is also known as reservation price which provides confidence and
power. By knowing about range, it will help parties to make better decisions.

Making the very first offer
This is the most essential step which needs to be taken into consideration to make best deals. In
the negotiation, information is often equated with power. The party who make first offers will get better
terms that are very close to their target price. The reason behind that is people get what they pay for.
Which means higher prices make the purchaser focus on the positives vice versa.
Make counter offer- if people aren’t able to make the first offer then they need to make
themselves protect against the anchoring effect. after that it is essential to make counter offer but not too
low (McGuire and et.al., 2020). Nowadays, every parties who make purchase and wants to feel about
the deal they have got then they feel more satisfied.
1.5 How to generate new business and win deals
As we all know that every business wants to grow and achieve goals in the market. growth is
what every business needs and it is the important target of every successful entrepreneur. In order to
grow business and sales the company needs to generate new ideas in the business and win deals through
increasing customer satisfaction. It is essential to bring new clients on board and make effective
contracts. Not only this in order to generate the new business and projects the business owner needs to
secure new tasks. When business generate new tasks and projects they have to face lots of factors which
can also influence the sales success and profitability too. So, the very first formula to generate new
business and win deals in to generate new leads which can help to increase new business growth.
Another major point to be taken into consideration is that strong value proposition. When company
focus on these criteria they can achieve competitive advantage.
After that it is essential to set up marketing team so that they can generate leads and attracts
more customers. The company needs to ensure that marketing team has clear targets and KPIs for the
number qualified leads they have to generate. The firm needs to make sure to hit new business sales
goal. In order to win deals, the company or any business owner needs to devise a clear sales strategy.
When sales members are standing in front of potential new customers, they must communicate a clear
detail about things and ensure to meet the needs of clients.
1.6 Tendering for contracts
Tendering is all about the systematic process whereby governments and institutions invite bids
for big tasks that must be submitted in a finite deadline. The process of tendering for contracts is very
essential. The major purpose of this process is to eliminate any kind of favouritism and corruption so
that it would be beneficial. Tendering for contracts encourages competition as it helps to promote a
competitive market the reason behind that is suppliers and contractors and company get a better chance
to bid for every task and project.

1.7 Preparing for negotiation through a request for proposal form
If small businesses. needs to prepare for negotiation, then they need to request for proposal form.
With the help of REP form the company can get a chance of securing the services (Donnelly, 2019). By
having REP gets a response improve firm’s chances of securing the services it needs. It can attract quality
vendors and decrease wait times so that company can complete their own tasks and projects.
1.8 Responding to a REP- creating a business proposal
As we all know that answering to a REP is same as to submitting a business proposal in that the
target is to attract the potential customers that the company is the right one in order to resolve their
particular issues. It is essential to demonstrate knowledge and experience managing the subject at hand.
For creating a business proposal while responding to a REP, it is essential to understand what services are
required and next it is very important to know about problems and find out solutions.
1.9 The contractual process and agreements
Basically, it is the application of the systematic process that can form the subject matter of the
patent rights which can enhance the rights (Disney, 2021). Contractual agreements is a legally binding
agreement in which two parties whether they are companies or persons are involved for specific terms. In
the contractual process, company needs to collect about the important information and choose about a
negotiator. After that it is essential to review the contact process and then contract signing which
completes the agreements between parties.

Task 2
A
Pitching for business to business about purchasing the cafe pod beans products
Cafe pod, is the well recognised small business mainly established for providing the
coffee beans and other services. We are mainly famous for providing the best quality coffee for
the energy drinkers serving at home. Our company is mainly recognise for Selling the coffee
beans with ranging from wide range of packs. We as the business organization is Selling the best
coffee beans in the country. We are mainly Selling wide range with original beans which is
mainly providing the best taste with the best quality. Our company is mainly crafting the whole
beans and grounds beans which will helps in attracting the buyers for Purchasing the products as
of tasting the coffee. Our strong and exciting blended coffee beans priced the perfect blend of the
adventurous and the best coffee taste. We as a company providing wide packing ranges of the
coffee bean consisting of the strong packs, decaf espresso, variety packs, branch blends, daily
grinds and the supper charger espresso. Our company will allow and provide you with the best
quality ranging with the affordable prices for accessing the coffee beans. Also, we are famous for
providing large number of ordered as specified per your quantity in the bulk and in short amount
as of packing into small packets. We are Selling our coffee beans with recycle packaging as for
securing the environment and aids in establishing less cost for the whole products (Disney,
2021). Our company is mainly supplying the products ranges by understanding the current
demand as for fulfilling the taste and preferences for best refreshments. We will provide the best
you the best convince as method for purchasing the products at affordable prices.
With providing accessing mode of delivery and fast delivery options will help you to
reducing your transportation cost. We would allow 15 days due date period to provide the
financial security as for purchasing our products as the coffee beans. Also with providing the
optimum quality and quality with the affordable and competitive prices will help you to achieve
more revenues and products with Selling our products in the dynamic markets. For this buyers
will be interested to ask three questions which is based on the prices. For this we have
maintained affordable prices less than the market prices for Selling the coffee beans. Also the
buyers will be interested to ask about our quality of products, for this our company is providing
wide range of samples for testing and packing the quality of products to the buyers. More over,
the buyers will be also interested to look about the legal and the CSR practices is being followed

by the company or not, for this our company, cafe pod is mainly involved in engaging and
providing the recyclable packaging products with consisting of the coffee beans into small
packages, also eliminating the carbon foot prints (Anam and et.al.,2022). Thus this mainly helps
in establishing our best and competitive brand image while Working and establishing various
practices operating in the dynamic markets.
B
Describing the Metrics through which a supplier assesses the pitch when comparing it those of
competitors
Various factors assessed by the suppliers before investing into the business and selecting
the pitch than that of the competitors are as follows:
Quality: while choosing the buyer for the products the supplier will look upon the quality
of services provided by the business to its consumers. This factors helps in addressing and
Selling the products to the company as for servicing to the ultimate consumers (Gallati, 2022).
This factors mainly helps in identifying about the quality of services offered by the other
businesses to the ultimate consumers.
Prices: This metric factors is important for the supplier as to provide the goods and
products at the optimum and the selected priced which is being affordable by the other business.
This mainly helps in providing information about the business at which prices the ultimate
products will be supplied as to the ultimate consumers. The businesses must provide the products
with selecting the optimum quality with the affordable prices (van Werven, Bouwmeester and
Cornelissen, 2019). This mainly helps in providing and supplying the products to the companies
which are offering the products with including the cost of raw materials for achieving profits as
this helps in building the brand image.
Delivery: Supplying the products to those business which are serving the products to
other by providing fast delivery options. As selecting those which is best to supply with
providing quick delivery as by ever-increasing the forwards planning with flexibility.
Services: It is the most important factors and the metrics for selecting the buyer(business of
company) of the products as for Selling it to the ultimate consumers. This mainly helps in
providing information about the services being offered by the company as for maintaining the
god band image. Selecting those buyers which are offering the coffee services , which are able
to purchase the products and invest into the company as for purchasing the bulk of products.

Reliability: This metric mainly helps in establishing and providing products to the
reliable buyers, which are trusted for purchasing the large amount of quantity at the set target
prices.
Financially stability: Selecting those buyers which are financially stable for purchasing
the products at the set and affordable prices. This metric mainly helps in establishing and being
cautious about the products being offer at the set prices and the buyers must follow all the
financial rules while conducting the business. This aids in maintaining the image as that o the
cafe pod by Selling to the financial stable buyers and the company for offering products to the
ultimate consumers.
Experiences and market knowledge: While selecting the buyers for purchasing the
products offered by the cafe pod as the coffee beans, offering and selecting those which are
mainly offering the ultimate products by good knowledge of market structure. Thus, these all
metrics helps in selecting the best buyer for purchasing the products being offered as the coffee
bean by the cafe pod.
Approaches to negotiation with suppliers
Negotiating is mainly the prices which helps in creating and building the favourable
terms by contracting with the new suppliers.
Building rapport: Building rapports play key role for negotiating with the supplier. This
approach mainly helps in building good relations with the supplier , as the good brand image
tends to induce the supplier as to invest into the company by purchasing the products. As with
being more interactive and more communicate by communication with establishing the brand
image (Understanding Negotiating Styles, 2022). Thus, by building the rapports mainly helps in
gaining more competitive advantages for attracting the supplier to invest into the company as for
purchasing the coffee beans from the cafe pod. This approach of the cafe pod helps in
negotiating and dealing's with the suppliers.
Being empathetic: Being emphatic helps in negotiating for completing and achieving the
common goals. As this approach mainly supports in building good relations with the buyers. This
helps in negotiating in the terms of charging the prices, and payments options also giving the
after sales services and the warranty of products.
Explaining needs in concise manner: This approach mainly tend to explain the needs as
for negotiating with the supplier. By specifying the details of the products and offering beyond

addressing the needs. With explaining the needs and features of the products mainly helps in
negotiating while communicating on friendly terms with the suppliers about the quality of
products and offering at the affordable prices.
Considering market prices : As for better negotiating with the suppliers serving the
products by researching about the market prices of the products being offered to the suppliers as
for supplying it to the ultimate consumers. This approach helps in negotiating better as by
providing more discounts an offering at the lower prices to the suppliers as for attracting to
purchase with offering at the lower prices than that of the competitors.
Knowing the business consumers: This approach mainly helps in better negotiation
with the suppliers, as by knowing the business consumer (John and Lawton, 2018). This helps in
taking feedback from their consumers about the products being offered by the cafe pod company
as of the coffee beans.
Approaches to risk management and contract negotiation between suppliers and organizations
Risk management is mainly the process of controlling, assessing and managing the
financial security of the business. Managing risk in the business play key important role as it
helps in identifying the potential risk faced by the business and helps in mitigating as to ache
success in the business. Various approaches which helps in managing risk to the small business
includes as:
Transferring risk: Transferring risks is mainly the approach used by the business as by
transferring it to the other party. As business as to transfer the risk by purchasing the insurance
policy and transfer the risk by issuing the policy as for mitigating the risk (Polinkevych and
et.al., 2021). As this insurance policy mainly helps in transferring the risk on the policy holder as
the insurer for come time. Adoption this approach in business helps in managing the risk in
effective way.
Sharing risks: This approach is being used by the business as for controlling the risk up
to certain level at the low cost. This strategy mainly used for managing the risk at the cost
effective way. This safety is mainly used by the business at the time to cover from the potential
losses occurs from the uncertain events.
Diversifying risk: This is the most traditional risk managing strategy mainly helps the
business as for engaging into wide business activities which ad in mitigating the negative

outcomes and helps in achieving the positive outcomes by engaging into different business
activities at the same time for mitigating the risk.
Preventing loss and reducing the risk: This approach for the risk management is
mainly includes about making attempt and using various approaches as for mitigating the risk in
the business. It mainly described about accepting the risk by staying focused and using various
strategies as for mitigating and spreading the risk in the business.
Retaining risk: This risk management strategy is used by the business as by retaining it
with controlling all the internal operations of the business. As by adopting the good operational
controlling processes which helps in mitigating the impacts of risks.
Further more various approaches for the negotiation between the supplier and the
business organization mainly includes:
Accommodating: This approach mainly helps in negotiating the supplier and the
businesses, as by building good relations with the other party as for managing the differences (11
Successful Tips for Winning Supplier Negotiation, 2022). This helps in satisfying the needs of the
suppliers by concentrating and building good relations for mutually agreeing upon certain
condition which results in negotiating between the two parties as the supplier and the business.
Compromising: This negotiating approach mainly tends to comprise between both the
parties as to negotiate for agreeing on attaining the mutual dealing in the business (Teague,
Gorton and Liu, 2020). This approach is mainly focusing in retaining the decent agreement by
the both the supplier and the small business as the cafe pod, for maintaining the effective
relations.
Collaborating: This negotiating approach between the suppliers and the business mainly
tends to deliver and satisfy all the concerns of both the parties by collaborating and suggestion
various solution as before concluding on the decisions (Kim, 2022). By adopting this approach
for Selling coffee beans tends to create the optimal outcomes by efficiently employing and
collaborating between both the parties.
CONCLUSION
From the above report it can be concluded that negotiation play important role for
mutually accepting the agreement between two parties. With negotiation it helps in building
better relations for providing quality of products and addressing the needs of both the parties by
mutuality agreeing on various conditions. Pitching for business mainly helps in providing clear

business idea by offering the products to the ultimate supplier. Using various negotiation
approaches for the supplier helps in providing better understanding for negotiating with the
suppliers. Further the risk management helps in managing risk for the business by using different
ways which supports in mitigating and reducing risk for the businesses.

REFERENCES
Books and Journals
Anam, F. and et.al.,2022. Study Of Different Approaches For Determining And Calculating The
Risk Management In Business. European Journal of Molecular & Clinical
Medicine. 7(11). p.2020.
Disney, B., 2021. Making a case for investment: a guide to pitching for better services. British
Journal of Healthcare Management. 27Teague, B., Gorton, M.D. and Liu, Y., 2020(9).
pp.231-233.
Donnelly, M. P., 2019. Truth or consequences: Making the case for transparency and reform in
the plea negotiation process. Ohio St. J. Crim. L.. 17. p.423.
Gallati, R.R., 2022. Risk management and capital adequacy. McGraw-Hill.
Hu, M., Xiao, F. and Wang, S., 2021. Neighborhood-level coordination and negotiation
techniques for managing demand-side flexibility in residential microgrids. Renewable
and Sustainable Energy Reviews. 135. p.110248.
John, A. and Lawton, T.C., 2018. International political risk management: Perspectives,
approaches and emerging agendas. International Journal of Management
Reviews. 20(4). pp.847-879.
Kim, H.J., 2022. Three Approaches to Risk Management in the Cloud. Information Resources
Management Journal (IRMJ). 35(1). pp.1-12.
McGuire, S. J. and et.al., 2020. Teaching Win-Win Negotiation Skills to MBAs: A Quasi-
Experimental Examination of a Social-Exchange Based Pedagogical Approach. Journal
of Organizational Behavior Education. 13.
Mejía-Arauz, R. and et.al., 2018. Collaboration or negotiation: Two ways of interacting suggest
how shared thinking develops. Current Opinion in Psychology. 23. pp.117-123.
Polinkevych, O., and et.al., 2021. Business risk management in times of crises and
pandemics. Montenegrin Journal of Economics. 17(3) pp.99-110.
Teague, B., Gorton, M.D. and Liu, Y., 2020. Different pitches for different stages of
entrepreneurial development: the practice of pitching to business
angels. Entrepreneurship & Regional Development. 32(3-4). pp.334-352.

van Werven, R., Bouwmeester, O. and Cornelissen, J.P., 2019. Pitching a business idea to
investors: How new venture founders use micro-level rhetoric to achieve narrative
plausibility and resonance. International Small Business Journal. 37(3). pp.193-214.
Online
Understanding Negotiating Styles.2022.[Online]. Available
through:<https://trainingindustry.com/articles/leadership/understanding-negotiating-
styles/>
11 Successful Tips for Winning Supplier Negotiation.2022.[Online]. Available through:[Online].
Available through:<https://www.zycus.com/blog/procurement-technology/11-
successful-tips-for-supplier-negotiation.html>
[Online]. Available through: <>