US66249 - NVC - Mod5:Starting up a New Venture (N4,Cr29,M5)

Module 1: Explain the need for negotiation skills in business. 3 Lessons

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1.1. Explain the need for negotiation skills in business.

1.2 Reasons why managers need negotiation skills are indicated with reference to the changing nature of the workplace and democratisation.

1.3 The kind of decisions that lower level managers are required to negotiate is identified with reference to the management structure of organisation and labour legislation.

Module 2. Explain the steps in the negotiation process. 9 Lessons

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2.1 The steps used in negotiation are named and explained in terms of what is entailed at each step.

2.2 Reasons why negotiations fail are listed and an indication is given of what negotiators can do to facilitate a mutually satisfactory solution.

2.3 The abilities needed by skilled negotiators are identified and an indication is given of how each ability can contribute to the success or failure of a negotiation and at what stage of the negotiation each skill may be required.

2.4. Rule 1: Attitude

2.5. Rule 2: Communication Skills

2.6. Rule 3: Planning

2.7. Rule 4: Evaluation

2.8. Rule 5: Closure

2.9. Basic Elements: Checklist

Module 3: Apply the steps in the negotiation process to an authentic work situation. 6 Lessons

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3.1. The concepts of “favoured outcome’, “settlement point” and “point beyond which you cannot go” are explained for a selected scenario.

3.2. Possible points that the other party might raise are anticipated and a possible response to each identified point is considered for the selected scenario.

3.3. A point-by-point summary of the proposal is compiled to ensure that both parties have a common understanding of the nature and extent of the proposal.

3.4. Questions are asked to build common ground and establish the existence of any hidden agendas.

3.5. A position is amended without sacrificing fundamental interests for a selected scenario.

3.6. Demands of the other party are analysed and a concession is proposed for a selected scenario.

Module 4: Explain strategies that could be used in negotiation. 7 Lessons

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4.1. Tactics that can be used to delay a negotiation are described with examples.

4.2. Tactics 1 -5

4.3. Tactics 1 -5

4.4. Methods that can be used to break a deadlock are explained with examples.

4.5. Different types of closure are identified and an indication is given of when each is suitable.

4.6 Close 1 – 4

4.7 Close 5 – 8

Module 1: Determine the capital requirements of the new venture. 4 Lessons

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1.1 Funding requirements and capital structure are identified and analysed for the new venture.

1.2 Realistic fixed asset requirements are determined for the new venture.

1.3 Pre-operating costs are identified and calculated to an exact value.

1.4 Monthly operating costs – including a cash flow statement – are compiled for the new venture.

Module 2: Identify and compare funding options and services offered by the finance industry for new ventures. 2 Lessons

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2.1 An extensive list of financial institutions offering funding for new ventures is compiled with a view to selecting the one best suited to the particular venture.

2.2 The various funding packages (products) appropriate for a new venture are investigated and compared in terms of own venture needs.

Module 3: Compile personal income and expenditure and assets and liabilities statements. 2 Lessons

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3.1 Personal income and expenditure statements are prepared for oneself based on own financial situation over the past year.

3.2 The situations when an assets and liabilities statement is required are listed and an indication is given of the advantages of keeping such records.

Module 4: Identify the requirements and processes to obtain the selected financing option for the new venture. 3 Lessons

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4.1 Collateral requirements for accessing funding are identified to determine if they can be met.

4.2. The information and back-up documentation needed to process application for funding is collected and used to complete the application.

4.3. Laws, regulations, rules and procedures covering the provision and use of financial services are observed to ensure compliance.

Module 5. Identify alternative sources to secure finance for a new venture. 3 Lessons

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5.1 The difference between debt (loans) and equity (owner`s capital) is explained with reference to the new venture.

5.2. Alternative sources of equity are investigated for the new venture.

5.3. The option of leasing as a method of reducing start-up capital is considered for own venture.

Module 1: Identify, gather and analyse the relevant information needed to compile a plan for a new venture.

Module 2: Formulate an ethical framework for the operational plans of a venture.

Module 3: Design and present business, financial and/or marketing plans based on a budget for a new venture.

Module 1: Identify information sources of available business and new markets that can be accessed.

Module 2: Analyse tender documents for viability in the new venture context.

Module 3: Calculate costs, revenue and profits of a specific tender.

Module 4: Complete tender documentation.

Module 1: Design a production/operations layout for a new venture. 5 Lessons

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1.1 The concept of productivity is explained within the context of a competitive new venture.

1.2. A description is given of elements involved in a specific production/operations process with examples.

1.3 An office/production layout plan is used in order to optimise the workflow.

1.4 Market potential and limitations are analysed in order to plan for the capacity need to profitably operate a new venture.

1.5. Define a Target Market for Your Small Business

Module 2: Apply effective production/operations scheduling. 2 Lessons

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2.1 An explanation is given of the need for an effective production/operations scheduling within a new venture.

2.2 An effective production/operation system is designed in terms of areas to be scheduled within a specific business.

Module 3: Apply resource management within a new venture. 5 Lessons

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3.1 The concept of resource management is explained within the context of new venture creation.

3.2 A system to effectively manage and control the business resources is developed using a record keeping system.

3.3. Which Type of System Is Right for Your Business?

3.4. Creating and Maintaining a Personal Record System

2.3. The internal and external factors of human resources capacity that impact on a specific tender are determined for own business.

Module 4: Apply quality management within a new venture. 3 Lessons

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4.1 Fundamentals of quality and its management are explained within the context of target market requirements.

4.2 Quality standards are laid down which are derived from the market requirements.

4.3 Measurement tools are designed in order to measure the quality of the product/service in accordance with the set standards.

US66249 – NVC – Mod5:Starting up a New Venture (N4,Cr29,M5)

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