LO1: Evaluate the context of negotiation and identify the information required to prepare for a negotiation.

Unit 44: Pitching and Negotiation Skills

Introduction:

This unit gives learners 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.

 

Part A

Learning Outcomes:

LO1: Evaluate the context of negotiation and identify the information required to prepare for a negotiation.

LO 2: Manage documentation relevant to tenders and contracts.

Assignment Brief and Guidance: You are working as a Business Start Up Advisor for your local council, providing advice and mentoring to small businesses on how to manage the pitch process and tender for contracts. You have been asked to create a guidance document on how to effectively prepare and manage the negotiation process. This is to be presented as a short booklet that includes the following type of information and advice: • What is a negotiation in the business context? • The key steps for negotiating and generating business deals. • The context of negotiation and the importance of key individuals in a negotiation

Part B:

Learning Outcomes:

LO3 Develop a pitch to achieve a sustainable competitive edge

LO4 Assess the outcome of a pitch and negotiation

Assignment Brief and Guidance: You are working for a major bank which has its headquarters in the City of London. Every four years they submit a request for proposal (RFP) to pitch for a company to run their coffee shop. To help with their image they prefer to contract a small independent company as opposed to a national chain. You are a small business owner of Cuisine Coffee, a new start-up looking to expand, and see this as an ideal opportunity. Consider the following: • You are to prepare a written initial response for the panel to consider and thereafter you are invited to pitch to the panel with the aim of securing the contract. • You must prepare a short 2–3 minute pitch.