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The aim of this Unit 54 Business Skills for Proposals and Pitches is to provide learners with an understanding of the concepts and skills involved in the development and implementation of a business idea through the practical application of relevant theories.
This is a broad-based unit which focuses on the application of business concepts in a practical context. Learners will understand the academic and business skills involved in researching a market, analysing data and making informed decisions. In this unit, learners will consolidate understanding of the concepts developed in units 1–4, for example management and leadership theories and the elements of the marketing mix. Firstly, learners will be required to develop a business idea by identifying a gap in the market. Through this process, learners will practice and further develop skills in market research and data analysis. Learners will then consider the market environment for their chosen product/service using a variety of business tools, for example PESTEL analysis and Porter’s Five Forces. Next, learners will understand how to critically evaluate a number of business ideas in a formal context and assess their feasibility. Learners will also, therefore, develop an understanding of how to conduct a business meeting, in addition to enhancing communication and debating skills. Finally, learners will consider the elements of the marketing mix and prepare a pitch for their chosen business idea.
Learners individually research a proposal, which they then individually present at a meeting. One suggested approach is for the meeting then to decide which proposal to take forward, this is then the proposal that the group take forward and pitch. There are no essential or unique resources required for the delivery of this unit, although it may be beneficial to use a video camera to record the pitch.