The objective of this report is to evaluate requirement of Pitching and negotiation skill in business context. These kind of practices will assist in developing a positive relation between management and employees of an organisation.
- Discuss the context of negotiation as well as identify the required information to prepare for negotiation.
- Analyze required documentation relevant to tender and contract.
- Provide a pitch that can assist to attain sustainable competitive edge.
- Evaluate the outcomes of pitch and negotiation.
The following report consist of the concept which is related to the negotiation and the pitching skill which is very essential aspects of the company in order to achieve the most benefit out of it. The negotiation is adopted in order to maintain the peaceful environment of the company and has certain procedure for the implementation. Also the request for proposal and the concept of competitive tendering has been discussed in order to provide complete knowledge of it (Ahammad and et. al., 2016). Also the pitch for the certain ad campaign had been made for the company discussing all the essential aspect and its related issues and obligations
1.Defining negotiation and why it occurs, its key stakeholders are for the process to commence
Negotiation is process of converting the difference of two minds that results in certain conflicts in the company. Negotiation is made to create mutual agreement between two individuals or two parties who are the important people of the company. It is very crucial for every firm as it leads to create an peaceful environment in the organisation. Every individual has various beliefs and perception which leads to the differences regarding the certain problem. Negotiation includes certain activities which are followed for the effective responses. Very firm has certain criteria for forming the negotiation which can affect the functioning of the organisation and results into the degradation of their efficiency which is not preferred by any of them. Also the it is preferred to keep the surrounding harmonious which lead to build up effective relationship between the employees which is required for the effective controlling for getting the desired output from them and also for the coordination which is essential for the processes to produce quality product and services to satisfy the end user which is the ultimate goal of every organisation and that leads to earn lots of profit which in turn leads to the earning of greater profitability that makes the company strong enough to sustain in the market.
The management panel of very firm includes the stakeholders who are employees, owner, board members and various other investor who prefer to invest in the company in order to gain some benefit in terms of monitory aspects. Their expectations vary from the company which leads to several issues in the meetings regarding the certain matter. These individuals create lots of problem in order to reach at a certain conclusion which is essential for the effective decision making. There the negotiation comes for the rescue where the mutual agreements is done for the problems which are created in the meeting which leads to the providing the solution for all the issue and every stakeholder depicts their expectation and the conclusion is made on the fulfilment of every expectations of the stakeholders so that unison of mind is created that can lead to effective decision making (Price, 2015).
2.Present a concise rationale for the negotiation process including detailed expansion of the steps included in the process
Negotiation is the concept which includes various processes regarding the conduction of the vent that creates the effective solution of the problem and provide a decision which is beneficial for every one. Therefore it has some essential features that leads to the success of the events which are discussed below
The first stage of the negotiation includes the preparing stage in which both the groups prepare the whole scenario of the meeting in the form of a structured plan in which they include every steps which they would going to follow in order to influence the other party to fulfil the conditions and the expectations of the customer which is very necessary. It also includes collecting information of the opposite party so that they can make an effective plan which will get to lead the successful solution of the issue. The second stage includes introduction stage which comprise of the scenario that is the actual situation which both the party waits for .In this the initial scenario starts from the friendly introduction of both the parties which lead to know each other and their expectations related to the meeting. The initial introductory round leads to create a peaceful and cheering environment after which the actual meeting starts where the parties ask question to each other so that they can clear doubts and can lead to further movement of the meeting. After this the bargaining round comes where the individual leads to the accomplishment of their condition by influencing the other party for the negotiation with regards to their expectations. Here the situation can be little tense which can lead to create conflicts between both so there the introductory round is conducted which makes both the party cheered up for the important decision making (Rivera, 2015). The last phase includes the closing round where all the decisions are already took which leads to the documentation of all the decisions and also the revision of every aspect related to meeting so that one cannot make any issue regarding any factor.
3.Evaluate the several stage of the negotiation and provide solution for the issues that can occur
Negotiation cannot be achieved without the four processes. In order to achieve the mutual agreement regarding any issue between two parties can lead to the formation of effective decisions which are very important for the maintenance of the peaceful corporate environment It also lead to the development of an ethical culture where no wrong practices are adopted for the fulfilment of their goals. So, therefore one has to follow all the basic procedures which can lead to the conclusion in to the mutual agreeness of the whole situation. The first stage of the negotiation includes the planning of the whole preparation for the event of the meeting which is very essential for th success of the whole meeting. In this the parties creates the documents regard the information which is related to the opponent and also with the aspect of the issue as it is very necessary for the whole problem. After this the implementation of the all planning occurs in the form of introduction stage where the actual scenario starts. Both the companies provide their introduction in the cheerful manner which leads to create a surrounding which is very cheerful and important. After which the formal session starts where the companies ask questions to each other which is an open questioning round and the firms clear their related doubts so that one can satisfy themselves in order to provide the correct information to others (Characteristics of negotiation.2018). After which the main situation of bargaining starts where both the parties have to take decisions which is the main motive of the whole meeting after which the closing session starts where both the parties lead to the ending of the whole meeting on the written terms which provides them a chance to make improvising on those aspects which can create problem in the future and also provide the document related to important factors which can be used in future purpose for the further evolvement of any issue that can get rose.
1.Application of RFP process and the documents required for this and the consequences of breaching the agreement.
Request for proposal is the documented form of information which is given by the company to the suppliers for the starting of the new project in order to provide certain related information with respect to it for the production of the various goods and services for the end user.It is the proposal for the project which is issued by the firm for staring certain project providing its necessary information to others to convinced them in order to implement the project.
There are many stages which are included in the process of request for proposal which are discussed below:
The first step includes the phase for effective planning in which there are numerous factors which are included such as determination of the resources which are required for the project, it helps to get acknowledged about the scope related to the project whether it is narrow or wide. It also leads to get informed about the various factors which can affect the implementation of the whole project. It comprises of the various strategies which one has to adopt regarding the making of effective implementation of the whole project in the manner where it uses the optimal utilisation of the resources which are available to the project makers and that affects the direction of the implication of the whole plan to the people who can be the potential vendors with the associated project. It also leads to know about the budget which is very important aspect of the project that leads to the making of the decision where one can decide about the selecting the project or not.
Another aspect is related to the draft making of the whole project which is the written statement of the particular plan of the project which provides the visual view of the whole processes that are involved in the making of the project. It determines the policies and laws which are associated with it and also helps to know about the detailed information regarding every activity followed by the exact description of the resources which are involved in the project. It has all the structured plan of the project which one requires for many conclusions (Erlingsdóttir and Lindholm, 2015).
After this the request for the proposal is made where the several vendors and suppliers are provided the draft that determines the every information related to it and lead to know its effectiveness and the efficiency in the whole market. It also develops a scenario where the interested suppliers ask questions related to it after the reading session of the request for proposal.
After the all the processes the selection of the appropriated request for proposal occurs where the person has to select the project which can provide the best result after implementation while providing the optimum use of all the resources.
There are certain documents which are required for the purpose is the legal papers of the whole procedures and the biding form in which the bids related to request for proposal is made.
For breaching the agreement one has to bear certain fines in monitory terms and provides banishment from the event of tendering and restrict them from the participation in the next tender and one takes away the current tender from the company.
2.Evaluate the competitive tendering and contract process and recommendation for completing the successful tender.
Competitive tendering is defined as the method in which the acquiring of the various resources can occur in the agencies which are run by the government and also those organisation which does belongs to the sector where it is own by the private individual. In this particular concept the company has to force all their suppliers and the purchasers for providing value for money and completing the work on time so as to ensure the proper deliver of the services and product on time. There are several process which lead to the success of the competitive tendering which can be discussed as below:
The first process starts with the registering the form of the tender which shows the interest of the individual who are seeking for grabbing the opportunity of taking the particular tender in which they are interested from the other competitors as it helps to provided them better profitability as compared to normal production. After the submission of the registration form one has to attend various session conducted by that particular firm in order provide information related to the tender for those who are interested for the competitive bidding event for grabbing the tenser which is issued by them. This is very useful for those who are the one registered for this bidding event. All the questions are asked by the participating companies and there doubts regarding the tender are cleared so that they can make effective investment plan that provides them the chance to get an edge as compared to other individuals. These strategies are very important for the effective planning which increases their chance of winning among others. After this process the companies analyses the past winners and their relative strategies that provides them an idea or the basis fro the effective planning and the minute details which are required for the making of the whole plan which is implemented at the time of the real bidding event where the lowest bidder wins the tender for the specific time period and provide the production of the products and services in the future which helps them to earn more opportunities for growing which is very essential in this competitive scenario where the competition is very tough and everyone fights for the competitive edge in order to gain the interest of the customer which results in the increase of the base (Hopmann, 2014).
1.Examine the pitching process and the ways to make it more effective.
Pitch is an set of events which is made in order to provide the perfect plan regarding the certain campaign which is formed for attracting the customer in order to gain the huge customer base in the market in order to get the maximum shares of the market which lead to make them leading in the scenario by providing various products and services in order to satisfy the customer and make them the loyal one. Pitch provides the synchronised set of activities which is done in order to provide the best effective plan required for gaining the audience by conducting several advertisement campaigns and selecting the segment of the customer along with it providing the attractive tag lines and logo that a customer can relate.
Pitch has some collective events that lead to the successful ad campaigns in order to gain major base of the customer through it for becoming their end customers.
It first includes the formation of a team in which the acquiring of the candidates is done according to the potential which is required for performing various roles in the plan and the whole team is organised and the responsibilities are provided.
After this the whole plan related to the ad campaign is decided by the team in which all the information regarding the campaign is collected followed by all the aspects which is required for the formation of favourable atmosphere for the whole process for the purpose of the effective promotion which is required in order gain the interest of the large customer audiences (Brinkman and et.al., 2014).
The theme of the overall activities is decide which includes all types of jingles, logos and taglines for the brand promotion of their product which can grab the eyes of every potential customer who can be the future customer of the whole process.
2.Develop a creative and dynamic pitch that is both concise and persuasive to achieve sustainable competitive edge
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
The outcomes can be very interesting with aspect to the successful pitch which can be effective increase in the customer’s interest for buying the company’s products and services. There can also b the increase in the effectiveness of the branding position of the product in the market which ultimately benefits the company in order to maintain high profitability and earn a good revenue that will lead to provide better business expanding opportunities in the market that will lead to get them global recognition. Some of the problems can be related to the investor who can show less interest for the investment that can lead to the adverse effect on the whole along with the not getting up of proper effective team which can create the delay in the whole event which can ultimately affect the effectiveness of the pitch (Faff, and et.al., 2017). Even the resources which are required sometimes are not acquired on the right time that can surely affect the whole process. These are the most common and impactful issues which are faced by every company.
2.Critically Evaluate the pitch and post pitch outcomes to determine the potential issue and risk management.
These problems which are created on the scenario of the implementation of the effective pitch can lead to the altered scenario for the effectiveness of it. There fore it is very important of manage all the related issues by providing them a common resolution such as keeping a spare investor in case of failure of the interest of the first investor for the investment in the conduction of the pitch that can affect the whole process and can restrict the activities in order to get successful completion of it (Qureshi, 2016). For this problem the company can keep a share from the bonus earned from the past pitch in order to save amount for the future crisis that would be beneficial for the whole process and would lead to the successful implementation of the whole plan in the impactful way.
It has been concluded that negotiation has the following procedure such as introduction, preparing, bargaining , closing. The negotiation creates the mutual agreeness of the two parties and even between the two individuals along with the proper documentation of the whole procedure .Also the request for proposal requires the entire structure of the implementation of the whole plan. For the competitive tendering one needs to bid the lowest price in order to grab the benefit from the competitors.
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