The given case of mark and Spencer in which PA demands hike in salary by 10% this resulted in problem for mangers as average rise was only 5% for the top performers.
- Brief about contact related with negotiation and information required for negotiation
- Formulate contracts and tender needed for documentation by Marks and Spencer.
- Develop pitch for achieving competitive advantage by Marks and Spencer.
- Developing outcomes related to pitch and negotiation by Marks and Spencer.
Negotiation skill is regarded as the most effective skill in the corporate as it can help to solve the conflicts which can raised due to certain reasons also the pitch is the plan for all the activities which can create an competitive edge for the Marks and Spencer. This project includes the evaluation of the negotiation skills and its process to resolve any conflict. Also the importance of it is described so that one can learn about its importance with the critical evaluation of the process and its various stages which are involved in the successful implementation of the concept. Also the complete effective pitch process has been described along with the example and the potential outcomes related to it is also described with the suggestion for the risk management along with its legal obligations. Request for proposal has been depicted along with its complete procedure and the competitive tendering with the suggestions for providing the applying of the effective tender for the company (Badger, 2016).
1. About Negotiation
Negotiation is defined as the process in which the interest of two parties is combined in a mutually agreed decision which can lead to avoid certain kind of disputes in the company. Conflicts possesses harm to the organisation as it can influence the relations of people can lead to minimise the harmony of the atmosphere in a particular aspect which affects the functions and operations of the corporate which leads to many problems in the attainment of goals and objectives. Negotiation is a resolving method of disputes which can occur between individuals or group of different parties. It helps to maintain peace and harmony to Marks and Spencer (M&S) by following a particular framework for solving all the issues. It helps to reduce all the differences among people by suggesting measures to satisfy the interest of each other. This helps to create their bond between them by creating a sense of trust for each other. This potential of trusting each other makes the decision process very easy to implement and effective in providing solution to all the problems.
Negotiation is very necessary skill that every employee should have as it helps to coordinate with other workers for making a certain operation very effective in approach. This negotiating can occur anywhere whether it is in companies for particular business, non- profit and can be between the companies and the government for the legal aspects. It is much required between the board members as it is comprised of stakeholders which have their serious interest and a rigid nature which lead to disputes often as there is no sense of mutual agreement in them. Negotiation becomes very important there to resolve every kind of disputes related to any investment or important decision for the company.
2. Rationale for the process of Negotiation
The negotiation process plays an important role in every corporate as the conflicts are the most common aspects of it as the firm comprises many personnel which have different perception and thought process which definitely creates disputes among them. Therefore, negotiation is very necessary for solving differences between various companies of the industries or in the organisation itself. Negotiation process has many stages which lead them to implement the process with a complete reasoning for demanding expecting from the opponent party and also understand their needs. It has made the conflict solving procedure very easy.
Negotiation process can be successful by adopting these stages effectively:
Phase of Preparation
For any procedure which is to be implemented must have certain data and information which can provide support to it. It is very important to gather all the facts and figures related to any issue before commencing any formal negotiation with other party. After the collection, leverage of both the parties is evaluated. One should also know about other opponent with whom