These following questions will enlist the requirement of their given project which are given below:
Negotiation is a process of settling down the conflicts and disagreements that arises among two people or two parties. It is the process where both the parties emotions are being taken care of and decisions are taken accordingly. In this present report Razzamataz has been chosen for assessment. This organisation was established in the year 2007 as children's theatre and dance company. This present assignment will focus on Key steps and information required for Negotiation. In addition to this, RFP process and the relevant types of document required will be described in detail. On the other hand, potential outcomes of a pitch will be discussed in brief. Furthermore, the contractual process and how this documentation is managed and monitored will be covered.
P.1 Determining about negotiation and why it occurs and the key stakeholders during a negotiation process.
Negotiation: It is a method where differences are being settled down among people in the organisation. It is a process of decision making where all the differences are being settled that arises among the union and the management of the organisation (Abels, Howarth and Smith, 2018). Whenever negotiations are made it is ensured that they are made in such a way that it gives benefits to the company in some or the other way. Proper strategies and planning are made for the same which can guide in ultimate process of negotiation.
Why negotiation occurs
Negotiation occurs in all situations during the business operations along with this, people negotiate in everyday life outside their workplace and in every kind of situation (Cooke and Zaby, 2015). The state or position of negotiation arises when there are more possible outcome than one. Two parties who are dealing with each other and they have a common interest, but they are not sure abut the results than negotiation occurs. In context to Razzamataz, situation of negotiation occurs when employees faces difference in thoughts and does not be able to come up with a solution (Cooke and Zaby, 2015). The best outcome is chosen after determining all the aspects of the situation and its solutions.
Stakeholders during a negotiation process: It is a process which affects the entire organisation along with all the stakeholders. Whenever any situation arises in company where disagreements occurs that is the time when stakeholders gets involved within the process. It is due to their organisational interest that has been due to the investments they have made or might be some of them are working for the company (Dinnar and Susskind, 2018). So it is quite often that stakeholder get involved and expect to get a decision where they get benefits from the entire negotiation process.
P.2 Key steps and information required for Negotiations and generating deal
Negotiation process involves everyone who are present during the process is being carried out. There are majorly 5 steps of the negotiation process which are described in brief below
Preparation and planning: Before starting the process entire knowledge regarding its history the conflict or disagreement has arisen (Elenurm, 2016). Along with this, planning should be made regarding the place where the meeting will take place and when the process will be carried. A limited time should be set for meeting and carrying out the process and that should be very limited. It will be helpful in continuing the disagreements.
Discussion: At this stage both the parties put forward their views, knowledge and their understanding regarding the situation. Members will do so because both can know what they are thinking regarding the situation due to which disagreement are arising. It is important to prepare notes regarding the discussion that has occurred. It will help in knowing about thinking and understanding of both the parties (Fletcher, 2018). The most important thing to do at this stage is to listen and carrying the process with patience. And both sides must be given equal chances of presenting and saying their things.
Clarifying goals: After doing the entire discussion and listening to both the parties understanding patience fully. The next step is to understand the goals of both the sides and their every view should be noted so that the major reason behind the conflict can be taken out (Gbadegeshin, 2018). Now these goals and interest of people should be listed on the basis of the priority. This will help in knowing things in detail and this step will reduce the misunderstanding level. Thus, clarifying goals and needs of both the parties will help in reaching to an advantageous outcome.
Negotiation towards a win- win outcome: At this stage such solution will be tried to be found out where both the parties feel satisfied and get a sense of positivity from the outcomes (Gianiodis, Markman and Espina, 2017). Such solution should be taken out where both the parties should feel that their goals and views are being considered. In context to Razzamataz, managers takes out such solutions where both employees of group of workers feel satisfied. Different suggestions are being given to the employees and along with this, compromises are also needs to be considered at this stage of negotiation process (Green, Pease and Davila, 2016).
Agreement: This is the most important stage where final agreement is prepared and both the sides should accept the decision by listening to it patiently. A clear and straight decision should be made which can be known and understand by both the parties to conflicts (Greenwood, 2018). Razzamataz management system make such agreement where employees also get satisfied and it must be in interest of organisation as well.
Implementing a course of action: From the above stage where the agreement has been made a course of action should be planned and implemented from the same (Green, Pease and Davila, 2016). This is the last stage where the actions will be taken and situation is considered to be handled. This is majorly carried through the decision that has been made after considering every aspect.
P.3 Explain the RFP process and the relevant types of document required.
RFP is the process of Request for Proposal on the issuing organization and its lines of business (Harkiolakis and Halkias, 2016). It is the set of the best forming results in order to meet out the best possible action plan. This process includes background on the issuing organization and its lines of business a set of specification that describes the issuing organization and its lines of business a set of specification that describes the sought after solution and evaluation criteria that describes the better negotiation skills process and goals (MejÃa-Arauz and et.al., 2018).
This RFP process required to make any document or agreement for the vendor which requires availability for a certain services into more appropriate manner.
Determine needs : before presenting RFP process first individual needs to perform the writing that is âHelp wantedâ. On the other hand, it requires skills needed, objectives project, and the timeline in which where this process has been completed (O'brien, 2016).
Write the Request for proposal : in the next of process of request for proposal is that, such as CV or resume. For which is you need to show essential target and goals. The vendors can be change but its wise must be follow a common formula so vendor know what to expect from the document.
Distribute the RFP : In this process document has been sent into the next process to get the reposes but not become so praised with proposals (PaÃ§o, Ferreira and Raposo, 2017). There are so many numbers of recipients who needs to considered the realities where either not enough or too many organizations are also involved in the overall process.
Evaluate Responses : this process is time consuming but important to get the successful result. In this process all the request has been evaluated as per the set priorities (Sullivan, 2015). Overall, it helps to make the best possible action plan in order to meet the needs of the overall responses. The best example of this process is interview when number of candidates make RFP to get good job. In this process HR manager evaluates all responses.
Evaluate further : In this process all RFP after shortlisting the options, there are still more questions needs to be asked (Wiener, 2017). After selecting, next processes where vendors are now ready additional details and perhaps even a demo. Stakeholder must need to know about all the task has been done in the process.
Make a Decision : In this last process where decision making has been based on teams and organization. Stakeholders needs to look upon on the decision making process (Sullivan, 2015).
RFP requires some important documents such as Signed document by writer, approval of receiver, concert approval form etc.
P4 Explaining the contractual process and how they relevant documentation is managed and monitored.
Contract management is the legal format or agreement between two people which make mutual concern for a particular consideration (Horton, 2016). Contract management is generally a broader concept of strategic concept that covers the whole procurement cycle including planning, formation, execution, administration. The main purpose behind contractual process is to ensure the all party concern in order to fully meet their respective obligations as efficiency and effectively (MejÃa-Arauz and et.al., 2018).
Enabling contract management : In the first process of contractual process is to ensure that there is a shared understanding, distribution of responsibilities and systems and procedures in the place or the position to control and monitoring process to deal with the changes (PaÃ§o, Ferreira and Raposo, 2017).
Contract management also helps to give assiduity in written form by taking signature of the contract (Sullivan, 2015). It helps contractor and contract in case of any fraud and misunderstanding. This phase the roles and responsibilities of an individual has been already defines in a proper manner.
It contains different documented which should be clearly analyzed, taking, evaluated into proper effective manner.
Contract performance monitoring and control : this is the next process under which process has been evaluated on the basis of above legal effectiveness. In order to meet out the best possible action plan and goals (Wiener, 2017). This step also making new target performing goals in order to meet the new development oriented process. It also makes the better services growth in order to meet out the best possible action plant. Original of contract and all amendments. Each party should need to pat attention towards the internal to ensure that it is fulfilling its own obligations and externally to ensure that the other party is fulfilling its obligations (Gianiodis, Markman and Espina, 2017).
Change management : In this step of contractual management where unwanted changes and incorporating necessary changes into the contract. Effective controlling and effective working and make the better changes. It is also very much necessary and effective learning goals. Apart from that it helps to keep the best possible action plan in order to meet out the contractual management needs. It helps to sustained the managing successful business growth.
Dispute management and resolution : The nature of organization contracting is dynamic in nature which tends to be change on regular basis, contract management planning should agreements on the procedure to follow to resolve disagreements between parties regarding responsibilities and agreement (Harkiolakis and Halkias, 2016).
Financial management payment : among the right among the obligations of the UN organization are to make payments to the supplier on a timely basis and not cause undue cost to the suppliers. Liquidate financial activities and securities.
Contract completion and close out: Contract completion and close out, contract close out activities are generally fairly straightforward, especially or smaller dollar value. In this process contract has been closed out for the better form of results and goals (O'brien, 2016). Contract closure helps to ensure all contract obligations and liability to evaluate the final outcomes and goals.
P5 Developing a pitching applying key principles that achieve a sustainable competitive edge.
In order to get the best negotiation styles and output returns, it required to keep the all things more valuable and long lasting. It also applies the major goals oriented task and better skillful channel (Sullivan, 2015). Productive negotiation pitching principles helps to achieve Razzamataz better sustainable competitive edge. In order to met out the best possible action plan to get the best source material.
It is the best approach and negotiated approach to being very much effective and long lasting material goals. In negotiation principles. It has been suggested that, HR needs to share number of information to their clients in order to meet out the goal objectives (Gianiodis, Markman and Espina, 2017).Apart it also needs to follow the proper norms of reciprocity responding in kind to how we treat them properly.
Revealing some information means it gives effective target to get some more new outcomes and goals. It helps to gaining the agreement.
Rank Order opinion
In order to negotiate any individual or employees. Manager needs to know the potential issues and reason for negotiating. It helps to come out the potential outcomes and growth into more appropriate manner (Dinnar and Susskind, 2018). For example, Razzamataz set up their deal with one client, company needs to solve those issues or deal with according to the company price. In order to meet out the needs and goals into more appropriate manner. This process of pitching better outcomes by ranking and leaving all the issues on the table and being tarn-parent about it.
Go in knowing target price walkaway term
This is the another principle or term which individual needs and price according to the best possible action plan. In order to beat the prices and scaleless resources. To get more data and make itself confident (Fletcher, 2018). Employer needs to collect and research proper information to make the best approachable pitch.
It is the another principle to make the best pitch and get good outcomes according to desired results and growth. Bravery shows confident and sure about his own decision making. That helps to represent another person to be strong. Bravery is showing good conduct of pitch, client wants a good outcome according to their needs and wants (Gianiodis, Markman and Espina, 2017). Accordingly, it makes the good managerial skills in order to meet out the best possible action plan.
It is the another good sign of negotiation skills that helps to come together and work in team. This is the good way to get a pitch off or to a good start, make assure the clients that company is fully dedicated towards their needs, client or party will definable take offer.
It is the another principle of pitching skills which makes process easier to have possible outcome growth. Transparency will benefit clients too as agencies will have the information into more appropriate manner (Greenwood, 2018). Apart from that, it helps to keep the all material effective and sustainability that helps client to trust on the Razzamataz. This principle helps in consistency to get better results. It is the another major important and best approachable goals in order to meet out the best possible action plan. It is the another most appropriate result goals to make the best possible action plan. More appropriate and best leading goals. This is the most appropriate results and most appropriate principle that affect the best leading materialistic source action plan.
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P6 Assessing the potential outcomes of a pitch,
In order to develop appropriate pitch, it can be stated that it is important to communicate work in better manner (Harkiolakis and Halkias, 2016). As a result, it increases significant advantages to focus on the alternative solution at workplace. With the help of unique and law based practice management, appropriate schedule, billing, accounts and cases handle. On the basis of plan, it can be stated that faster and cheaper alternative solution has been made that assists to describe product and its features as well. Solution also brings value towards customers to focus on the significant results. As a result, it can be stated that great benefits shows for product and explain many details as well.
In addition to this, competitive analysis strategy also shows successful outcomes that assists to work with several kinds of resources. As a result, confidence also develop to adapting market and carving piece for demonstrate current customer satisfaction (Horton, 2016). Loyalty program also assists to make position for better performances in the enterprise. Furthermore, it also helps to focus on similar technology application that regulate certain options to get service support. Experience also compatible across different hardware to that unique technology explores to obtain key segment. With the help of potential outcomes, it can be stated that pitch assists to compelling business and its team as well. Therefore, it builds appropriate work performances (Horton, 2016). The best pitch is conversation instead than the sales pitch. There are several best parameters that increases ability to listen and watch audience to look upon pull back points that are making and creating positive circumstances. Furthermore, it is essential to look and address upon concerns that bring partners with few tactics. Audience also targeted in respect to look upon concerns. Hence, it is essential to move for particular discussion and repeating higher level of purposes in which company process their work.
P7 Determining organisation fulfil their obligations from pitch, identifying potential issues that procure can occur.
Managers or leaders both has been gone through the process where they faced such negotiation challenges with the clients or employees (MejÃa-Arauz and et.al., 2018). Negotiation is the toughest process or activity which involves various ups and downs. Some of them are discussed below:
Negotiation can be intimidating and most influencing process of negotiation skills in order to get close to the outcomes. Few negotiators use sarcasm and bully tactics to judge the people or just to find out their needs and wants. In process of negotiation, the main purpose of both the parties are to create mutual agreements and contract between each others (PaÃ§o, Ferreira and Raposo, 2017). Aggressive behavior can also create misunderstanding between the parties which might be the reason of wrong activities and goals.
Understanding Each others Needs
It is the another factor or a situation which negotiators faced while handling the negotiation pitching. In order to meet out the best possible action plan to discover the new manager la task. In order to meet out the best possible action plan to catch the new more developing skills.
It is the another process or developing skills which needs to make better decision making approach to get the best possible action plans (Greenwood, 2018). But sometimes it is become difficult for learner to understand the needs of the party due to hide their some information.
Lack of patience : Lack of patience is the another most issues which affect the long term low performance target. Lack of patience can also lead to a bad negotiation process. Every individual has the right to express his views and one should not interfere in his speech. Sit with the second party and make him realize how the deal would benefit to sell the better option goals.
Avoid last minute changes: it is the another issue and obligations which creates inefficiency level among parties. It creates long term growth and managing successful growth in order to beet the best possible action plan to get the best possible result outcomes.
Being too rigid: It is one of the biggest challenges to an effective and long term growth. It is not make the best possible comparison to effective negotiation (MejÃa-Arauz and et.al., 2018). It is the best process to make the best possible action plan to develop the long lasting performing.
Lack of confidence : as it result in confusion and misunderstanding, it also helps to convert this possible action plan into the best activities goals. Lack of motivation or confidence level can also affect the decision making approach of negotiation process (Sullivan, 2015). Apart from that, it gives the better source and better result and better resourceful goals and best outcome results.
On the basis of above section it has been concluded that, pitching negotiation skills is the most important part or process for the company to make productive deal with the clients. Report has been based on Razzamataz to identify the best pitching approach in order to meet the employees satisfactorily approach and outcomes. Apart from that, it helps to keep the better and long lasting material goals to get the best possible action plan. Present study has been discussed about the what does negotiation mean and their role in the company development process. Study has been discussed about the key steps and information required for negotiating and generating deals into more appropriate manner. To get more understand about the process of negotiation is helpful to take the best possible action plan. Apart from that, study has been cleared about the pitching negotiation principle and their approaches to get the best possible results for the better development targets. In order to meet out the best possible action plan study also discussed the possible issues through which company needs to face and get the best possible outcome results and goals. In order to develop the new managing effective performance goals.
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