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Pitch that can Assist to Attain Competitive Advantages

University: UK College of Business and Computing

  • Unit No: 9
  • Level: Undergraduate/College
  • Pages: 12
  • Words: 3000
  • Paper Type: Assignment
  • Course Code:

    L/508/0602

  • Country: UK
  • Downloads: 1
Question :

The scenario of this report determines that the head of an organisation ask his/her personal assistant to construct a report that includes the effectiveness of negotiation skills by implementing theoretical concepts. This report will be helpful for others by evaluating:

  • Analyze the requirement to construct a negotiation as well as the requirement of skills and information in this regard.
  • Develop several documentations related to contract and tender.
  • Construct a pitch that can assist to attain competitive advantages.
  • Evaluate the results associate with pitch and negotiation.
Answer :
Organization Selected : -

INTRODUCTION

Negotiation is an effective concept which is to be required in every organisation as it consist of many individuals who have various kinds of thoughts and perceptions that always creates some serious or the cold disputes between the parties. In this project it has been discussed about the negotiation process and the reasons for it occurrence and its role for the stakeholders of the firm. Various stages of the process of negotiation has been critically evaluated and also the rationale for the whole concept has been provided which provides a deep view of the features of every resulted stage. Also the request of proposal has been defined along with process to publishing the request for proposal which includes many stages that makes the whole proposal every effective. The concept of competitive tendering had been discussed with the various requirements of the documents that should be compulsorily provided. The process of pitch id also depicted in the report with formation of the concise and dynamic pitch for a particular ad campaign.

TASK 1

1. Defining Negotiation and why it occurs, its key stakeholders are for the process to commence

Negotiation is define as the process where there is a mutual agreement in some issues or the topic which was the reason for the conflict between the individual and the company or can be between the two parties. Negotiation occurs only when there is a scope of mutual disagreement between the two groups whose thinking procedure and the perception varies due to the several factors which can affect their perception related to certain subjects related to any aspect in an organisation. Negotiation is very necessary to keep the relations good between many individuals to support the environment which is very peaceful and harmonious (Ting‐Toomey, 2017). It is very necessary to keep the working atmosphere of the company peaceful as it helps to prevent the scenario of tension which can cause harm to the organisation structure and also the working of every individual gets affected and they cannot provide the quality production for the company which affects the good will of the firm in the market and lead to the fall in competing with other competitors. Negotiation is the conversion of two different mind into the unison of thoughts where two groups agrees on certain agreement which is based on their mutual consent and provide benefit to both of them on several aspects which are very important as it can affect both the parties in an adverse manner.

Negotiation is very important between the stakeholders because they are the individuals which holds the different amount of shares of the company (Ahammad and et.al., 2016). There are more chances of having conflict between them as they are more responsible for the creation of interest and makes the condition which provides benefits to them while neglecting others, there to solve this issue negotiation comes into the rescue.

2. Present a concise rationale for the negotiation process including detailed expansion of the steps included in the process

There are certain steps or phases which are included in the process of negotiation as it is not the easy process, it requires various aspects and favourable activities which leads to the successful implementation of the mutual agreeableness. These steps are discussed below:

  • First step includes the preparing state of the negotiation which includes the gathering of the information related to issues which are created on which the negotiation has to be conducted. Another thing which has to be done is the evaluation of the leverages of both the parties which is very essential along with that it has to be understood about both the parties which are involved for the mutual agreement (Hopmann, 2014). This is initiated by creation of rapport which means friendly introduction among both the parties.
  • Second step includes the opening stage where both the parties meets and has the friendly session of introduction to know themselves which is very important for creating an environment which is positive after the completion of formal introduction, the real aspect of the negotiation starts both the parties ask question to each other for the clearance of doubts or any queries related to each other.
  • Third step includes the phase of bargaining when both the parties put together their expectations and requirements from this negotiation.
  • Fourth stage includes the closing stage where both the parties agrees on some mutual aspects that creates unison of mind among both groups and helps to maintain the decorum of the meeting and various documentation process occurs to make the oral meeting into written one so that no problem occurs in future and the documents which contains there conditions are revised thoroughly which is needed to be done to avoid any chances of further disputes between them (Pearson and Pelling, 2015).

3. Evaluate the several stage of the negotiation and provide solution for the issues that can occur

There are many stages in the process of negotiation that facilitates both the parties to come up into a mutual agreeableness so that they can solve the disputes in the peaceful manner which is beneficial to both the parties.

The first stage is related to the collection of all the data which is necessary to develop a plan for the meeting (Erlingsdóttir and Lindholm, 2015). The plan must include why they are in the meeting and what they expect from the conclusion of the meeting which is very necessary for the interest of both to end the meeting with some productive decision.

Another stage includes the opening aspect of the process where the formal friendly introduction session are included so that one can get acknowledged about each other and provide necessary information related to them as it is important for all the people (Characteristics of negotiation.2018).

Third stage includes the bargaining where both the parties performs the bargain of the expectations which they expects from the meeting and with each other so that they provide effective result based on the mutual concern (Erlingsdóttir and Lindholm, 2015). It may be a tensed phase as it can create a surrounding of little or cold disputes because they might argue for the mutual bargain.

Fourth stage includes the closing of the meeting where the last formal procedures are done such as formation of agreement in the written from that includes every aspects of the file and helps to give a format to the events of the meeting into some written form (Qureshi, 2016). This is very crucial to avoid conflicts in future as it contains witnesses and the proofs of the mutual agreement so that one cannot put up questions related to the meeting and ends up taking the vote of everyone and their interest.

TASK 2

1. Application of RFP process and the documents required for this and the consequences of breaching the agreement.

RFP process includes the proposal which is made by the organisation for the suppliers in order to determine the plan regarding the project issued by them with the proper financial details in order to gain the interest of the suppliers.

There are certain stages in the issuing of the request for proposal which are discussed as below:

The first stage includes the planning for the project which includes several factors has determining the requirements for the product along with scope of the project so that one might get acknowledged about the various factors that can affects the project in various way. It also includes the adoption of various strategy that are implied for the success of the business with the determination of the range of many associated vendors with the project (Lyu and Lee, 2016). It also includes the budget which is required to make so that one can know the requirement of the investment which is required.

Another aspect is related to the creation of the draft for the request for proposal so that one can provide the introduction related to the project with the statement of the purpose which provides the information related to the background and the scope of the respective work along with the related contract terms and conditions related to it.

Third stage includes the issuing of the request for proposal which is distributed to the networks so that one might get acknowledged about the distribution path of the whole project and provide help to it (Hopmann, 2014). It also includes the responses which coordinated to it and provides answers to various questions which arises for the project along with the receiving of submissions which includes all the documents, presentations and necessary information.

Last is the review of this proposal and awarding the most suitable contract for the project.

2. Evaluate the competitive tendering and contract process and recommendation for completing the successful tender.

Competitive tendering is them method in which the procurement of the resources occurs in the governmental agencies and the companies which belongs to the private sector. In this concept the firm forces the suppliers for the completion and consequently various purchasers for gaining value for money (Miyamoto and Ito, 2017). There are various stages in the process of competitive tendering which is discussed below:

It firstly includes the registration the interest of the company to participate in the bidding process which includes the following of the instructions which are provided for the tender and register the company name for the event.

After this one has to attend the various informative sessions which are conducted by the agency so that they can provide information related to the tendering and even the conditions for the same so that one can get completed idea of the requirements and prepare a plan according to it

Along with it the company starts making the strategies for making the effecting bidding plan that have more chances of winning among the competitive companies who are also participating for the same (Brinkman and et.al., 2014).

Also one must review the plans and framework of the winning company who have won the last tenders and one should learn all these aspects and prepare an effective plan by modifying those strategies.

One must also tries to make the bidding which is more compelling as the bidder with the lowest bid has the more chances of winning so that one can have ore chances of the getting of the tender which they desire for (Miyamoto and Ito, 2017). Also the terms related to the payment should be understood by everyone so that in future there occurs no problem related to it.

TASK 3

Examine the pitching process and the ways to make it more effective.

Pitching is the concept which is a framework or the planned structure that is related to the effective promotion of certain product or services to the target audience with some attractive jingles, logos or tagline which they can related and prefer the brand among others which leads to the effective brand recognition which leads them to sustain in the market and provide competition to other competitors in order to gain the mores chances of earning profitability and a large customer base (Hopmann, 2014).

Pitching has some essential process which are discussed below:

First of all a plan is made where all the information is collected related to the advertisement campaigns and its requirement and other aspects which can help the company to become more effective for the promotion.

After this the hiring of a creative team is done which requires several candidates who have already decided qualities and performs certain task according to those potential so that execution of plan can be made effective

The theme of the project campaign is decided in which there comes the certain factors such as the formation of various promotional jingles, taglines and logos for the brand their product which should be attractive and grab the eyes of every potential customer in the market

Other is the choosing up of the target customers among the segments of the consumers which are made in the complete plan which has the needs and requirements that should be matched with the aim for which the product of the company is made (SWANN and Bosson, 2016).

Setting up a particular theme on which whole advertisement campaign is built so that one might can create some effective impacts on the potential customers.

3. Develop a creative and dynamic pitch that is both concise and persuasive to achieve sustainable competitive edge Marks and Spencer

TASK 4

1. Assess the potential outcomes of the pitch and recommend the ways in which the company can fulfil the post pitch obligations and highlight any potential issues

There are various positive outcomes which are to be expected by the advertisement campaign that is planned in the pitch for related products. Such as there can be increase in th efforts required for the activities related to the ad campaign where it requires a lot of investments to continue the successful running of every activities There are also certain external aspects which can create adverse impact on the formation of any successful pitch for the company’s product or services (Erlingsdóttir and Lindholm, 2015). These are the reasons which can resist some activities which can be very important for executions. Sometimes there is no availability of the right candidates for the team which delays the execution of the main plan and has to be resolve as soon as possible also the creation of various segments of the customer can sometimes creates chaos as in the market of apparel there are many types of customers which have complex needs and requirements which cannot be segmented properly as expected in the plan. There can be some legal restrictions in the implementation of the whole advertisement on various media which restricts the creativity of the ad campaign thus affects the feature of attracting good number of potential customer (Qureshi, 2016). Also sometimes there are no investors that can invest money for the whole project which can create a halt in the whole process and can delay it for very long which should be completely avoided so that the effectiveness of the pitch remains and the plan can get successfully executed that will lead to increase the recognition of the brand at a great level which would lead to increase the market share of the company which would definitely lead them to sustain well in the market and can help to create a sustainable creative edge among the competitors.

2. Critically Evaluate the pitch and post pitch outcomes to determine the potential issue and risk management.

Sometimes there are various potential issues which are related to the pitch and post pitch outcomes which can be lack of financial aspect for implementation in the process of executing the whole pitch which is very important. This can be managed when the company generates the huge profit which he can save some amount for the future potential risk which can save them from many crisis (Ahammad and et. al., 2016). Also sometimes the investor denies from the investment in the campaign which can create a lot of problem do that to avoid this one can keep another investor for the safer side so that one can approach him in the scenario of emergency.

Many at times one might not get right candidates for the project which consumes a lot of time and some might left in between which lead to a huge loss in the whole activity, therefore to avoid this situation one can keep the another team at halt so that if any situation like this occurs another team can be taken into action and can continue the work effectively (Brinkman and et.al., 2014). Also due to the introduction of various trends in the market due to certain dynamic changes the mindset of the customers continuously changes which affects the demand of them market slot therefore one has to keep the process of market research on action so that related strategically change can be adopted to avoid any loss in the whole structure of the plan related to pitch which not only has certain potential outcomes but also has associated risk which has to be managed timely so that it becomes more cost and time effective.

CONCLUSION

It has been concluded that negotiation has various stages such as preparing, opening, bargaining and closing which helps to complete the process of negotiation between various groups effective and in a harmonious way. Also the rationale for the same is provided which has been acknowledged in the report. Also certain factors in the whole process has been analysed which affects the success of the meeting held for the negotiation between two individuals. The request for proposal also has virus stages which specially depicts that the bid for the tender must be the lowest so that one can have the highest chance of getting selected for the tender in the public sector.

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