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Evaluate the context of a negotiation and identify the information required to prepare for a negotiation

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.


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