1.1              
Explain the importance of negotiation in a
business environment

 

Negotiation is a process which two people or an
organization experiences to achieve a result that is commonly valuable, and
this is done through either compromise or agreement. In business, negotiating
can be troubled with buying/selling products or services, employment, finance
options or contracts. In an admired circumstance, people will endeavour to get
the best result for their business, however it is critical to have the capacity
to compromise as this will assist in making close working relationships with
different businesses, this is known as a win-win situation.

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In all business environments, there will be times
where negotiation is required, without it disappointment or conflict might
arise, and the main reason negotiation is used is to avoid it from this, and to
achieve understandings without causing any communication barriers in the  near future.

  

Negotiation is an important part to day to day
activities in the workplace as it maintains all internal workplace
relationships, as well as relationships between other companies/organisation.
It also makes an organisation more efficient, for example instead of spending a
long period of time trying to force a person to do what you want , you can both
learn to reach an agreement to find a solution that can benefit both parties
and workflow can continue as normal and the 
progress isn’t slowed down. Negotiation helps organisations to work more
effectively and helps achieve there company values.

 

1.2          Explain the features
and uses of different approaches to negotiation.

 

Negotiation is a communication undertaken with the intent of reaching
an agreement, almost everyone negotiates on a daily bases whether it may be
with a spouse, a child or a boss.

Negotiations may be concerned with contracting, buying and selling,
staffing or financing. 

There’s a few different approaches to getting the
right negotiation, and depending on which approach you take the outcome will be
different every time.

 

A distributive approach is where two individuals try to claim the full
amount for themselves and their organisations, as the intention is to win as
much of the agreement as possible. 
Distributive negotiation means that there is a fixed amount of goods
which are split between the two organisations unequally. For example from a
sales point of view the salesperson would try to come to an agreement with the
customer to get the highest price, whereas the customer will negotiate with
them to get the lowest price. This approach is competitive and is usually taken
when there is unlikely to be another deal between the two individuals, this
means there is less concern about the company’s reputation and also creating
work relationships. 

 

A compromise approach is where two organisations are more interested in
creating a partnership than winning the negation agreement and will settle for
a lot less than they have asked for to avoid causing any conflict. This is also
called taking a soft approach or soft bargaining, where each organisation will
agree to disagree and treat each other as friends in order to seek the right
agreement. Due to this, soft negotiators are often very open and honest, and
can be very easily trusting, especially discussing their bottom offer. The
opposite of this approach is called the hard approach where the two individuals
will not compromise and will make threats during the negotiation, often using
sayings like “my final offer” Hard negotiators will see each other as
competitors and are only interested in doing the best for themselves, this is
similar to the distributive approach but instead is intentionally spiteful. They
will also use very aggressive negotiation tactic such as misleading the
opposite party about their bottom offer and pressuring them into giving
irrelevant discounts as part of the deal. Despite the anger created with taking
a hard approach, it usually takes less time for a deal to be completed and can
sometimes lead to an automatic win if the other party has more power than the
other, for obvious reasons this negotiation approach is the most unpleasant in
the business.

 

An integrative approach is also known as the
win-win situation as this aims to find the best possible outcome that can
benefit both the organisations equally, this is the most attractive approach to
negotiating. This negotiation approach requires both sides to put more effort
into understanding what each other expects from the negotiation, as well as
being honest, sharing information and cooperating, doing so will help both
party’s achieve what they want from the deal. Whilst preparing for the
negotiation, it is important to try and align yourself towards the integrative
approach as this will help provide the best progress for your business.

 

1.3          Identify the
components of negotiation tactics.

 

Taking different approaches to negotiation implies that there are also
different types of tactics that can be used. It is important to learn tactics
as it will be easier to recognise when they’re being used and which counter
tactics to use against the opposite opponent.

Depending on the type of approach your taking,
negotiation tactics can be fair or dishonest. Bribery is a very common tactic
in negotiation but not only in business but in everyday life as well. This
tactic is useful in an integrative approach as it enables both parties to get
what they want, from the business point of view, the incentives could include
bigger shares, information about a certain product or more marketing. Financial
incentives within an organisation such as bonuses and promotions can lead to
improved work performances as employees are more willing to do well knowing
that they’re getting something in return. This is a really simple tactic to
implementing and will allow good results. Despite how pleasant bribery may seem.

 

If you decide to take a hard approach to negotiate,
there are several underhand tactics that could be used to pressure the other
business into giving you what you want, although usually immoral, they are
surprisingly successful. One way is intimidating the opposite party, this could
be done by stating how qualified you are, comparing your credentials to theirs
and taking a much more enthusiastic role in the negotiation. Although not
purposely being aggressive, this tactic works as individuals are more likely to
give in and agree with you if they believe you are better qualified. Another
tactic is refusing to continue the negotiation until an acknowledgement has
been given, for example businesses will ask for a bigger discount before
continuing the discussion on their side of the deal. This tactic is mainly used
when one side has given more than the other, and is therefore asking for an
equal amount before continuing. As a last stand, businesses can also attack
each other with violent threats, such as threats to sue; this demonstrates
individuals will go to great lengths to get what they want. This tactic is generally
too unpredictable to know whether it will be successful every time; for
example, fear and intimidation may make a business relent and cooperate, or it
could do the exact opposite and make them close the deal down completely.

Other negotiation tactics include flattery, making deals with strict
deadlines, distracting with unnecessary information, bluffing and making
ultimatums.

 

Learning Outcome 2 –
Understand how to develop and deliver a presentation.

 

2.1 Explain different types of presentations and their requirements.

2.3 Explain different methods of giving presentation.

 

There are a wide range of different types of
presentations and each one has a different impact on the audience depending on
the reason. Presentations can be shown in various ways, electronically, paper
based – using hand-outs, video link e.g. international conferences, via face to
face discussions and so forth. More often than not, presentations fit into one
of four categories which are; informative, instructional, educational or
persuasive. Each of these will have comparative content and a few themes may
overlap, however the wide range of presentations will have slight contrasts in
the techniques used in order to accomplish the specific aim.

 

Informative presentations are delivered for the
purpose of giving factual information to an audience. Ideally, they should be
short and concise, whilst keeping the audience engaged in what’s being
presented; however sometimes further detail needs to be given to fully explain
a point.

Instructional presentations should be less fun and
more serious in order to quickly get the information across to people. The aim
of these presentations is to ensure the audience fully understands the required
action at the end. The purpose of persuasive presentations is to convince the
audience to accept the presenter’s point of view by using common sense and
sufficient evidence. So in order for a persuasive presentation to be
successful, the presenter needs to implement certain techniques such as; using
persuasive language, facts and figures, emotional bias and many others. These
will all help in getting the audience’s support that you require.

 

With all presentation, a good introduction is
needed to capture the audience’s attention, also having a strong introduction
will ensure that the audience members are engaged throughout the hole duration.
The introduction should describe the aim of the presentation and give a brief
overview of what the main points of the presentation are going to be about
before starting the content. Describing the aim of the presentation is also
important as it makes the audience aware of what they need to do, and what they
will learn over the course of the presentation. An interesting ending to the
presentation is also important as you need the audience to remember what has
happened after they have left.

 

2.2 Explain how different resources can be used to develop a
presentation.

 

To make sure a presentation is as effective as
possible, presenters need to implement a variety of different resources.
Providing hand-outs is a totally easy way to allow the audience to take notes
if they want to, in addition to explaining key points/technical phrases within
the presentation.

Producing hand-outs allows the presenter to provide
extra information whilst saving time to offer the vital elements, in addition
to giving the target audience a copy of any diagrams or graphs that may be
wanted in the future. Hand-outs should either be given out prior to the
presentation or after the presentation, as they may distract the audience if
given out in the course of the presentation, in addition to any extra
information they may need. This will allow me to refer the target audience to a
selected slide/picture without having to show it on the display screen.

Resources can also include any equipment used to
present the presentation e.g. laptops, projectors, white screens and speakers.
It’s always vital to have a contingency plan when presenting a presentation on
anything electronically just in case the equipment is faulty. Some presenters
often carry flip charts and portable white boards to support them delivering
there presentation. 

 

When preparing an electronic presentation, it’s far
crucial to keep in mind the targeted audience and to produce content which is
suitable for the situation. The content has to be understandable and encompass
technical terms to the appropriate degree. If I was required to present a
presentation to a vital employer, I would prepare the presentation myself, and
then ask a professional speaker to present it. The presentation should not have
too many colours, and must be able to be printed in black and white. The fonts
have to be readable, and photos/diagrams should most effectively be used for
you to resource the presenter/audience. Presentations to a younger audience,
e.g. business students etc. must be as audience-friendly as possible, fully
explaining all technical phrases and graphs/diagrams should be used to aid
understanding. For slides with a whole lot of facts, I would use bullet
factors, ensuring I fully explain them when presenting the presentation.

 

2.4 Explain best practice in delivering presentations.

 

It is vital that all presentations are rehearsed
beforehand, even if you are going to improvise. This is so the presenter is
aware of the timings of the presentation, so they can give a rough estimate of
time to the targeted audience and allow for any questions to be asked at the
end. It can usually be beneficial to create cue cards that include key points
so this means the speaker can check with the cards without analysing from any
slides.

When producing electronic slides with programmes
including Microsoft PowerPoint, a master slide will need to be created which
includes the title of the presentation, and the name and logo of the company to
ensure the presentation is as professional as possible. The primary slide
should also consist of the date, the event, and the name and job title of the
presenter. If hand-outs are given out, the audience will easily be able to remind
themselves of the information after the presentation has finished. Despite the
fact it’s not essential, but it is important for a presenter to set up
credibility with the target audience, as they’re much more likely to listen and
concentrate on someone who’s knowledgeable about the topic, particularly
younger audiences. It is also critical if the audience ask spontaneous
questions; presenters may look unprofessional if they’re struggling to answer.

The penultimate slide should recap the main factors
of the presentation to allow a final opportunity for the target audience to ask
any questions which might have been missed. Finally, the remaining slide of the
presentation should state contact details for the speaker and any other
organisations, this slide should be kept up on screen as the speaker is
answering any final questions.

All information needs to be accurate, and
proof-read. Spelling and grammar are also extremely crucial when preparing a
presentation; even if it’s for a small group of people. Any inaccuracies in
spelling and grammar will give a terrible affect and make the presenter seem
unprofessional.

 

2.5 Explain how to collect and use feedback on a presentation.

 

To collect feedback, presenters could produce a
brief questionnaire/evaluation on how informative/engaging the presentation
was, including questions like as “what did you like and dislike most about the
presentation?” and “how aware/informed are you now of the topics discussed?”,
as well as incorporating questions regarding the next steps e.g. “what action
are you going to take based on the presentation?”. For educational
presentations, I would produce a brief quiz which focuses on the main points
and quickly assesses the audience’s knowledge. It is helpful if the audience
feedback is quantitative (can be measured) e.g. asking “how much did you
enjoyed the presentation?” on a scale, and then following up with “what did you
like the most?” Similarly, a hand-out could be given to the audience members
where they rate certain aspects of the presentation on how far they
agree/disagree, such as good ending, appropriate language, use of visual aids
and good preparation.

Another method of collecting feedback could be
self-evaluation, the easier way to do this is by video recording yourself
giving the presentation so then you can go back and watch it again later.
Watching performances back can help you in the long run and be able to assess
areas that could be improved. All feedback that’s received will be collated and
will contribute towards improved presentations in the future.

 

Learning Outcome 3 –
Understand how to create bespoke business documents.

 

3.1 Explain the characteristics of bespoke documents.

 

Bespoke documents are designed for specific
organisations or departments. They are personalised to suit everyone’s business
and can include letterheads, invoices, statements, quotes, compliment slips and
business cards. It’s vital to remember that when creating bespoke documents
that the aim is to give off a good impression to other businesses, customers or
clients. Documents need to be professional and well thought out. An untidy
document can majorly effect the organisation’s reputation with stakeholders.
Bespoke documents needs to be consistent throughout, this means that the
organisations logo needs to be the same on all documentation produced, as well
as the general theme e.g. using the same font and style throughout, along with
any colour scheme. Ideally business documents should not use no more than two
types of different fonts, as it can make the document look messy with more than
two. Fonts need to be readable as well as the correct size.

 

Some documents need to be researched and planned
before being created as an example when creating broachers and flyers for your
organisation for an event, a deadline needs to be set in order for the product
to be produced, printed and distributed in order to advertise in plenty of
time.

 

 

3.2 Explain the factors to be taken into account in creating and
presenting bespoke documents.

 

When designing different types of bespoke
documents, different factors need to be taken into consideration, however there
should be a consistent style throughout, this is called in house style, where
there is a preferred format and layout of documents produced.

 

Letterheads are one of the most important pieces of
stationary within the office, as they set the standard for all correspondence
received by customers and stakeholders. Letterheads need to be clear and should
just include the organisations logo and contact details. The letterhead needs
to be positioned appropriately so a long letter can fit on an A4 page.  

 

Compliment slips are similar to letterheads in
terms of their contents and often include words “with compliments”. They are
usually sized different to fit into standard envelopes, as this is to avoid
folding it. Compliment slips are a very useful piece of stationary as they
allow employees to send informal messages but in a professional way. Usually
the logo and contact details are positioned to one side of the slip and a large
white blank space is left to handwrite a message if necessary. They should
follow the same style and fonts as the letterhead in order to maintain brand
identity.

 

3.3 Explain legal requirements and procedures for gathering information
for bespoke documents.

 

There are certain legal requirements organisations must follow to when
producing business documents, for example letterheads should include the full
registered name of the organisation and address including post code, along with
the VAT registration number. Usually documents also include contact details
such as telephone number, email addresses, website, the directors and senior
managers’ names. Legally, documents also need to be commercially sensitive and
comply with copyright laws; this means making sure information included is not
confidential and conforms to the Data Protection Act, as well as making sure
all information used is with consent.

 

3.4 Explain techniques to create bespoke business documents.

 

Techniques for making bespoke business documents will incorporate the
fulfilment of ICT equipment, for example printers, programming software, web
applications, and print and binding equipment. The equipment included comprises
of a processor, a display screen, monitor, and a mouse. In a portable PC tablet
/ Laptop, all these are contained on one bit of hardware. PCs are often
connected together to form a network that shares files to all PC’s.

 

 

3.5 Explain how to gain approval of bespoke documents.

 

In most organisations there is a manager who is responsible for
approving business documents to allow they follow the In house style policy and
procedures. In my organisation, all letters and bespoke documents produced are
approved by my line manager before emailed or posted out. They are checked for
spelling, grammar, and punctuation, as well as making sure they read correctly.