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Developing Pitching and Negotiation Skills - Marks & Spencer

University: Kensington College of business London

  • Unit No: 44
  • Level: Undergraduate/College
  • Pages: 18
  • Words: 4500
  • Paper Type: Assignment
  • Course Code:

    L/508/0602

  • Country: UK
  • Downloads: 0
Question :

The scenario of this report is based on evaluating requirement of negotiation and pitching skill within an organisation in order to resolve the impulse. In this process, Human resource department of firm can pay their attention on following areas:

  • Explain the negotiation as well as evaluate major information that are required to prepare it.
  • Analyze major documentation related to contract and tender.
  • Construct a pitch that can assist to attain sustainable competitive advantages for Marks and Spencer.
  • Evaluate what are the potential outcomes of negotiation and pitching.
Answer :
Organization Selected : Marks & Spencer

INTRODUCTION

Negotiation is considered as the most crucial activity which is required to be developed by an entrepreneur as this will help business owner in cracking the most profitable deal. Negotiating ability assists an entrepreneur in resolving several business issues in a systematic manner. Pitching is defined as the speech which is given by manager or leaders in an organisation for motivating people to work for the betterment of company. It is very important for the manager in an enterprise to develop an understanding about the way negotiation procedure should be conducted. As improper or ineffective arrangements made for the negotiation can give rise to other major issues.

Good pitching skill helps an individual in winning the profitable contract or agreement. It also supports the person in exploring as well as capturing various opportunities. In additions to this, with the negotiation skill, it is very much important for an individual to have good communication abilities. A person who is planning to facilitate negotiation should have awareness about the objectives for which particular process has been conducted. The present report has focus on the developing the understanding about the necessity of negotiation as well as pitching skills\ in order to win the contract or agreement. It also has emphasis on highlighting the different benefits of good pitching abilities.

LO 1

P1. Developing the understanding about negotiation

Negotiation is defined as the process which is conducted by manager or leader in an organisation for resolving the conflicts or other major issues at workplace. It is very much important for business owner to develop the negotiation skills as this will assist them in maintaining a peaceful environment as well as culture within organisation. These abilities also aid manager or leader in resolving the conflicts within an enterprise. As in a company there are large number of employees those who belong to different cultural backgrounds and have unique beliefs and values so, there are high chances of conflicts. In such situation, negotiating ability will help leaders in identifying the suitable as well as effective solution to the conflicts. Negotiation can take place in many situations; it can occur inside or outside company. Discussion or negotiation generally occurs in such cases where there are more than one possible solution (Wiener, 2017). It can also occur in a situation where two or more parties have interest in forming or entering into a same contract or agreement.

Negotiation generally takes place where some decisions are to be made on specific subject matters. It is considered to be an appropriate method which is generally adopted parties in disputes with purpose of reaching to conclusion. Negotiation method allows parties to facilitate discussion related to the subject matter and express their views, opinions as well as interest. The negotiation can also be used as a technique for resolving the legal issues without going to the court. This procedure in discussion in which parties intends to reach an agreement. Negotiation process includes the actions or procedures of transferring legal ownership of a document. It also involves the strategic discussion which helps in resolving the problem in such a manner that decision made during the procedure is acceptable by both the parties. In negotiation procedure, both the parties In this process, both the parties are bounded by terms and conditions in the contract which is signed after the discussion.

P2. Rationale for negotiation process

Negotiation procedure is designed in such a manner that all the people get aware about the price or proposal. It is required by the negotiator to provide the complete detail or information about the negotiation process, terms as well as conditions, information about contract, etc. Negotiation is considered to be an effective method or technique which assists parties in resolving the problems as well as allow parties to develop understanding with each other. It is recognised as the procedure in which compromise or agreement is reached. Negotiation is also considered as a cost efficient technique purpose of which is to provide support to parties facing the commercial disputes (Nic Giolla Easpaig and Humphrey, 2017).

It is the process in which the certain principles and rules are followed by the parties for reaching at the mutual agreement. Negotiation technique is adopted by the parties as it allows them to share their opinions, views, interest, etc. It also provides parties an opportunity to clear their confusion as well as misunderstanding and rebuilt their relationship. In context of organisation, negotiation process might include deals with suppliers, partner businesses or customers. This process helps business owner in making relationship better with the suppliers or other stakeholders. Negotiation process helps the parties in getting the high level of satisfaction. This method or technique helps in ensuring that solutions are reached based on principles. Negotiation procedure also supports parties in identifying the root cause of problem. It is very much important for a company to explain their proposal.

Negotiation skill is considered to be as important for everyone from employees to customers. It also supports business owner in getting the profitable deal. Respect as well as reputation is considered to be a very crucial part of business which can be achieved only by using negotiation skill for maintaining a peaceful and effective environment within an enterprise. Negotiation process includes various stages which help negotiator in identifying the root problems faced by the parties and also support them in analysing the suitable solution to the issues (Mejía-Arauz and et.al., 2018). Negotiation helps leaders in creating effective as well as supporting working environment as well as culture within organisation. It also aids manager or leader in avoiding conflict situation at workplace which might have adverse effect on the organisational performance.

3. Evaluating steps of Negotiation process

Negotiation process is the process in which interaction of two groups are involved in order to come to an end result which is acceptable by all. There are some specific condition which has been kept in while negotiating to achieve the best result.

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