Unit 44 Pitching and Negotiation Skills
Aim of Unit 44 Pitching and Negotiation Skills
The unit would be developed for having comprehensive overview regarding essential negotiation and pitching skills for winning new business contracts. These are essential skills for running small business and managing all the functions within businesses. Appropriate pitching skills for new products or services would enable organisations to generate sales as well as gain network opportunities. It can be said that negotiating with people and maintaining business transactions would secure favourable deals in business operations. Further, this unit would develop by aiming to provide learners with brief ideas about the negotiating skills. It would certainly help them to develop their abilities and skills in the future.
By the end of this unit a student will be able to:
- Evaluate the context of a negotiation and identify the information required to prepare for a negotiation.
- Manage documentation relevant to tenders and contracts.
- Develop a pitch to achieve a sustainable competitive edge.
- Assess the outcome of a pitch and negotiation.
LO1 Evaluate the context of a negotiation and identify the information required to prepare for a negotiation
The part would discuss about the context of pitching and negotiating in which students would understand the importance of these skills within the workplace. Apart from that, various essential negotiation strategies and tactics would be analysed. Various processes such as Request For Proposal, determining different goals and objectives and creating business contracts would be evaluated in the study. Apart from this, learners will understand how to generate efficient business deals with different organisations. Along with these, cultural and social awareness in negotiating within international business would be incorporated. Lastly, the study would highlight the recovery process in negotiating as well.
LO2 Manage documentation relevant to tenders and contracts
Documentation mainly focuses upon contracts and tenders. In order to understand contract and tendering elements of RFP documents would be defined clearly. Procurement and types of procurement also helps in understanding the documentation process. It would develop the elements of contract law and terms and consideration of contract from the base of documentation.
LO3 Develop a pitch to achieve a sustainable competitive edge
Pitching includes values which could create a bridge of trust. The main elements of pitching could be held as loyalty, innovations and partnerships. Determining the outcomes and values helps in better development of pitch. In addition to such pitching gives a way to deal with rejection. Summarizing and following up also forms a part of pitching.
LO4 Assess the outcome of a pitch and negotiation
In order to understand the key outcomes determination of
such outcomes and plans of contingency is important. Moreover managing
relationships and reviewing contracts also provides the access to outcomes.
Lastly contract termination and managing relationships also fall under the shed
for access of outcomes.
Learning Outcomes and Assessment Criteria
|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 appropriate pitch applying key principles that achieve a sustainable competitive edge.||M3 Examine the pitch process in an organisational context, evaluating ways to maximise the chances of a successful pitch.||D3 Develop a dynamic and creative pitch that is both concise and persuasive to achieve a sustainable competitive 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.|
This unit links to the following related unit:
Unit 22: Product and service development
Unit 28: launching a New Venture