Unit 44: Pitching and Negotiation Skills
Unit code L/508/0602
Unit level 5
Credit value 15
Introduction
This unit gives
students a comprehensive overview of the essential pitching and negotiation
skills required to win new contracts on agreeable terms. These skills are
essential for the managing and running of a small business or being part of a
dynamic and innovative workforce. Good pitching skills for a new product or
service will generate sales and networking opportunities, while negotiating
with different people and in different business transactions will secure more
favourable deals. This unit aims to provide students with the knowledge base
and tools that will help them to develop these skills.
Learning Outcomes and Assessment Criteria
Pass | Merit | Distinction |
LO1 Evaluate the context of a negotiation and identify the information required to prepare for a negotiation | |
P1 Determine what is a negotiation, why it occurs and who the key stakeholders are during a negotiation process. P2 Evaluate the key steps and information required for negotiating and generating deals. | M1 Present a concise rationale for the negotiation process, including detailed steps that organisations go through during a negotiation process and the information required in preparation. | D1 Critically evaluate the steps of the negotiation process and present valid solutions for dealing with issues that can arise. |
LO2 Manage documentation relevant to tenders and contracts | |
P3 Explain the RFP process and the relevant types of documentation required. P4 Explain the contractual process and how relevant documentation is managed and monitored. | M2 Evaluate the RFP process within an organisational context, outlining the key documentation required and consequences of breaching the terms of an agreement. | D2 Critically evaluate the competitive tendering and contract process and make recommendations for completing a successful tender with minimal risk. |
LO3 Develop a pitch to achieve a sustainable | |
competitive edge | |
P5 Develop an | M3 Examine the pitch | D3 Develop a dynamic |
appropriate pitch | process in an | and creative pitch that is |
applying key principles | organisational context, | both concise and |
that achieve a sustainable | evaluating ways to | persuasive to achieve a |
competitive edge. | maximise the chances of | sustainable competitive |
| a successful pitch. | edge. |
LO4 Assess the outcome of a pitch and negotiation | |
P6 Assess the potential outcomes of a pitch. P7 Determine how organisations fulfil their obligation from a pitch, identifying potential issues that can occur. | M4 Recommend ways in which an organisation can fulfil their post-pitch obligations, highlighting any potential issues. | D4 Critically evaluate the pitch and post pitch outcomes to determine potential issues and risk management. |
Learning
Outcomes
By the end
of this unit a student will be able to:
1. Evaluate the context of a negotiation
and identify the information required to prepare for a negotiation.
2. Manage documentation relevant to tenders
and contracts.
3. Develop a pitch to achieve a sustainable
competitive edge.
4. Assess the outcome of a pitch and
negotiation.
Essential
Content
LO1 Evaluate
the context of a negotiation and identify the information required to prepare
for a negotiation
Context for
negotiating:
·
Understanding
the rationale for negotiation and the importance of negotiating skills in the
workplace.
·
Generating
new business and winning new deals. Key negotiation tactics and strategies.
·
Preparing
to negotiate: the Request For Proposal (RFP) process. Preparing to negotiate:
determining goals, tactics and strategies. Closing a deal: creating and
finalising a contract.
·
The
value of understanding the context and key individuals in a negotiation, including
cultural awareness and differences in international business negotiations.
·
Collapse
and recovery when negotiating.
LO2 Manage
documentation relevant to tenders and contracts
Context for
tendering:
·
What
are the key elements of an RFP document? What is procurement?
·
What
are the different types of procurement processes?
·
The
contractual process for both personal and classified information. The key
elements of Master agreements and statements of work.
·
Contract
Law.
·
Amending
contracts and breaches of terms and conditions.
LO3 Develop
a pitch to achieve a sustainable competitive edge
Developing a
competitive strategy for pitching:
·
The
structure of pitching with emphasis on the value of brand loyalty, innovation
and networking and partnerships.
·
Building
the bridge of trust during a pitch and the importance of providing realistic
solutions to problems, opportunity focus and partnership approaches.
·
Determining
key outcomes and the pursuit of value. Dealing with rejection and asking for
referrals.
·
Summarising
and follow-up.
LO4 Assess
the outcome of a pitch and negotiation
Outcomes of a
pitch and negotiation:
·
Determining
key outcomes and contingency planning for dealing with rejection.
·
Contractual
implementation and fulfilling obligations, on-going monitoring/review of
contracts.
·
Managing
relationships and generating incremental revenue. Terminating contracts.
