The objective of this report is to analyze requirement of pitching and negotiation skills within an organisation in order to collaborate effectively with others. The major consideration of this process can be as follows:
- Identify the context of negotiation as well as evaluate the requirement to prepare for negotiation in M&S.
- Evaluate the management of documentation which are relevant to tenders and contracts.
- Analyze how to develop a pitch in order to attain sustainable competitive edge.
- Discuss the outcomes of pitch and negotiation in M&S.
Pitching and negotiation is a process in which the person can be interact with the another and with the help of these techniques, it can be easily convince the person. These techniques are important when two people exchange the information so that it is very beneficial for the people. These techniques are very important for the organization Negotiation and pitching is a way to enhance their skills and knowledge through communication. It is the best way to determine the client requirement and concern with the manager and they have good quality of knowledge to explore their skills through the pitching (Tse, 2014). It is very important for the organisation in which they will hire those candidates who have effective pitching skills. Marks and Spencer (M&S) always focus on their pitching skills because this skill is very important for the firm as with the help of this technology can be easily interacted with the client. Most of the investors directly contact to those employees who have a better presentation skills and that are good for the growth of organisation. M&S is very popular company and located in United Kingdom and they deal with the retail store. In this report, it determines the negotiation process and how it can be used in M&S.
P1 Determining the negotiation process and the key Stakeholder in commerce
It is a process when two people communicate to each other and with the help of negotiation it can be find out the one opinion on a particular topic. It is an effective process to maintain the stakeholder information for the business process. The manager of organisation can arrange conference and handle communication between the clients. It is a process to acquire entire information related product because with the help of this skill, they can easily explain the product related information to client (Dobbie and Green, 2015). The manager can share important information to stakeholders. It is very critical situation for the manager to handle all the terms and conditions of organisation. M&S is focused on their pitching and negotiating process because they are conducting a better process for the stakeholder.
M&S will always concern about the customer satisfaction because they provide good quality of product in store and it can be finding the actual need of customer. The main objective of every company is to provide the best quality of product and they are also taking negative and positive review so that according to customer, they will change the product information. The sales team plays an important role when they have effective quality of negotiation and pitching skill so that they provide the information in every effectively.
Employee has specific role to handle the customer and provide the best information and services. The manager is important person to understand the requirement of customer as well as employee because they will manage the stakeholder in the firm and they will help the employee for increasing the skill, power and knowledge (Boccuzzi, 2017). The management is analysing the whole department and identifying the resources required for the firm. Shareholder is the special part to the firm with the help of this term, the investor can be providing the funding for the companies and they also share values in market.
M&S can be arranging the new strategies and changing their quality of product in which the supplier will supply an effective quality of raw material at very low price and the manager will handle the whole manufacturing department and identify the best production details. The production department is stored the information of particular product and supplier will supply the product in market. In this way, it can say that pitching and negotiating process is important for the business process because with the help of these skills, the customer is always connected to the organisation directly and indirectly.
M1 Rational negotiation method that essential for information preparation
The negotiation process is required for any organisation because with the help of this process, they are taking some important step for the company growth and it is step by step process when the manager will understand the need of customer and they can be important role for organisation. They will maintain the employee requirement and their satisfaction as well. Negotiation is the best approach for the business process when it increasing the level of firm. The management are always helped to the customer for the product details and information provided through the effective pitching and it can clear a doubt regarding the purchased information. M&S are always focused on the pitching and it provides the training session for the improvement. The employee can be increased their skill through this session and enhance their skill for the beneficial of organisation.
D1 various type of stages of negotiation process and dealing with the problems
Negotiation is a process to convey the communication from one place to another in which it is an efficient way to represent their product details. Every steps of company process, pitching is required for any department that can be play important role in whole business process. It is an art or skills in which how can be presented in front of client There are some steps for the negotiation process as following:
Planning and preparing: It is a process, when the manager is making a strategy for the development of company. The main aim to identifying the need of customer and employee and then it can be collect the important information related any topic and issues. The manager are conducting a board meeting and discussed about the whole scenario, it presented some questions in front of the employee member such as what information are required for the development. These process is maintained by the manager who has an effective pitching skills to understand the issues and can be represented in front of the company employee. They are creating a new planning for the customer.
Justification and Clarification: This discussion is based on the clarification and justification, when all employees share their viewpoint and opinion towards the business process.It is a negotiation process, when they are discussion on their business strategies and planning. It is a way to share their knowledge for the growth of company (Zhang, Zhang, Tang and Luo, 2018). In this way, manager can be identified the opinion of every employee those who are participated in this discussion. This discussion is important because the negotiation and pitching skill can handle the critical situation in very effectively.
Setting ground rules: This is the important for the negotiation process because they are identified the role of pitching skill and discussed about the topic in the session. It can be identified the limit of pitching and negotiation. In this way, The manager will maintain the whole pitching skill and always focus on the backup plan. In this way, they are creating an effective negotiation. The rules of negotiation are helpful for the stakeholder.
Bargaining and problem solving: This is the important stage when the manager are always focused on the discussion of negotiation (Kadish, Schulhofer and Barkow, 2016). The sales Team can be maintain the product detail in market. It is a method to finding the problem of customer and then afterwards solve the problem according to customer requirement. Marks and Spencer are taking responsibility to analysis the whole process of company and then provides the solution of the customer. They are creating a different department that would be manage the customer details, product details, purchased related information are store in the company database and then they will manage the system in very proper manner. It also analysis the discussion on a particular issues and challenges.
Execution Procedure: This is the last process, when all the documentation details are required for the agreement. The manager will fix the deal with the client and both the parties are agreed for these changes which are important. The agreement has been done because of the common opinion showed by two parties. It is the last step of the negotiation stage.
Critical Evaluation of negotiation process
Negotiation is a step by step process that would be useful for the interaction of customer and stakeholder. It can be easily take decision for the company benefits and determine the actual requirement of the client. Marks and Spencer are focused on the changing determination. It can be consider the employee need and can be fulfil the requirement. The management are handle the people request and mange the policy of each employee in organization. The company will manage the detail of every employee and all the information related detail stores in the management. For Example- In the firm, The Talented employee are taking all the work load and responsibility to maintain the business operation in very perfectly. Manager will create a new plan for the negotiation and can be prepare a specific effective strategies that are beneficial for the organization (Chasek, 2017). These process are used for the negotiation. Other hand, the different HR department handle the information of employee. Management creates a new plan for the justification and clarification for the negotiation.
M2 documentation and proposal that cause of breaching agreement
Request for proposal is a process to represented in the form of documentation that are follows the rules and regulation in which company identifies the good services. These documentations are handle the manager to making a proposal for the business operation and performance related (Folberg and Golann, 2016). It also specifies the actual issues and functionality of business. It is made by the manager and then they can be represented a draft in the form of document. They are take advice to the other employee, if any changes are required or not. The board member are discussed on the particular topic and finding the accurate solution. Further, the proposal can be move to the initial stage when every one give their own feedback on this document. The draft was issued by the organization and they will manage the whole changes in very quickly. At last, proposal has to be submitted.
There are following steps used for the organization to making an effective Request For proposal as: Manager can be analysis the whole need of customer and understand them, At last they are applying a different type of approaches for the development and it also designs a new model that would be helpful for the customer because Most of the people are attracted the new product so that this approaches are play an important role in market. It also creates an importance of this proposal. They are using specific tool for design purpose such as hard ware devices and software that helpful for the development. At that time. The time has to be changed because there are many technologies are used for provide the best result. This is the way to enhance their product in market. This tool creates a very dynamic proposal.
D2 competitive advantages and contract methodologies
The main motive of the company is that price is down and improve the efficiency of state funded organization, it includes the local govt. and central departments. The tendering method is helping to the firm to analyses the clients demands and provide the best quality of services or products that main objective to fulfill their expectations and needs.
- Money value and result: to provide the best value for money to come out for the clients and customer is taking the help of competitive tendering, and management can provide in it (Tse, 2014). For an example- the company has providing various type of options to the customer and customer has to choose a good product. Hence, for the customers the company has providing so many ideas and choices to select the product.
- Compliance and regulatory outcome: government law and regulations are help to assist in the competitive tendering. It helps the management to avoid legal consequences apparently. The company have to follow the various types of rules and regulations to authorised the legislation In united kingdom.
- Wide range of alternatives: the firm has supplying and producing the products and services from the different types of company there are so many huge area to alternate available of the organisation.
- Better value: the methods higher quality products, price deduction, other different value adds, and better services.
- Master Agreements
- It is defined as, in the master agreements the contract two between comapnies in which they were agreed to definite terms and condition that decide their further transactions. The methods are:
- Contract Law: the contract law containing several types of terms and conditions which were relating with contract law (Mejía-Arauz, et.al, 2018).
- Offer: the offer is considering and depend on agreement both the parties who is binding in. overall depend on the offers by considering by the offerer.
- Acceptance: before accepting the offer the party has duty to read the offer before handling the offer and follow the rules and regulations.
- Consideration: they want some time to make proper decision before come out into agreement.
- Mutuality of obligations: it refers to, obligation of an worker to provide some work and pay for it.
- Competency and capacity: when the natural person come to sign the contract he or she having a liability capacity to agree and undertake the process.
M3 Pitching method used in Marks and Spencer
The method by which firms choose to advertise companies in state to advertisement and brand marketing role and responsibilities. Mark and Spencer outsource their publicity duty to outside authority etc.(Fletcher, 2018). In this way, it can be used an effective pitching style for managing the business process in the Marks and Spencer discuss in following:
- Value Creation: this method by which the valuable of business can be declared is called as value creation. In Mark and Spencer pitching is playing a vital role in this. Therefore, helping in effective advertisement ideas and pitching strategies, the value of organisation is enhancing by which organisation management.
- Brand Loyalty: in the company, pitching efficient process can be maintained and helped in the industry. In the Mark and Spencer the pitching process enhancing the brand quality. If the brand is good the customer automatic attract by the company and buy the product always produce a good brand quality products.
- Innovation: in the competitive market, the management keep continuing the process of products and services innovate in manner in the market (Nic Giolla Easpaig, and Humphrey, 2017). In the competitive area of UK Marks and Spencer worked for a retail industry.
- Networking: to providing efficient and effective networking with the help of management. Marks and Spencer helps in pitching to develop networks efficiently and effectively.
- Partnership: In the organisation, maintain a partnership with the company employees and outside of the company users which mat helpful to get succeed in the future.
Benefits of pitching
1- Increases inspiration