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(Solution) Negotiation Plan Red Sea Global Practitioner Corporate Award Assignment- PIN
This final assignment is integrated and intend to develop a formal negotiation plan for an organisation Procurement and Supply Management (PS&M).
The areas of focus include driving value through procurement and supply, managing expenditure, contracts development, sourcing essentials, and negotiation in PS&M.
The organisation of focus is Red Sea Global (RSG) Organisation a luxury, sustainability and innovation convergence for redefining development process. This is by focusing on the Cost Estimation Service (CES) spend category which are instrumental for RSG active practices.
In order to obtain appropriate findings in this negotiation plan, various tools including STEEPLE, Porter’s 5 Forces, SWOT analysis and Mendelow Matrix Stakeholders have been embrace for development of a negotiation plan. This is guided by the view that RSG as a development sector organisation has their priority on improving cost management efficiency and success in coming up with new developments and tourism models.
With the tourism sector slowly recovering from POST-COVID pandemic negative implication by economic slowdown, financial resources in RSG PS&M and negotiations have reduced. As such, the existing resources for RSG are not much. Therefore, the value for money outcomes in the negotiation strategy is supposed to be put into consideration.
For RCG, this is the rationale of coming up with a detailed negotiation plan for success in PS&M operations. The negotiation plan is in alignment with various sourcing approaches, terms and conditions and varying expectations.
The key findings indicate the best practice include use of different content in development of a negotiation plan. The steps followed have been identified to include preparation, test, propose, bargain, agree and close.
The key findings also highlight the essential of involving all organisation stakeholders as part of the negotiation. This is with stakeholders relationships being essential.
Another key finding is that for success in the negotiation process, leverage on BATNA and MLA is essential to obtain relevant findings.
From the findings and also conclusions obtained, various recommendations can be generated.
The recommendations inclue nee to initiate sufficient planning to involve all the stakeholders while at the same time holistically investing in technologies and managing conflicts of interest.
Another recommendation include need to customise negotiation strategy informed by market environment factors.
(Solution) 5C003 personal and ethical values (one of each), with examples of how these are evident in your work (AC 1.2)
(Solution) CIPS Developing Contracts in Procurement and Supply RCU PDC
- This report has focused on evaluating Royal Commission for AlUla (RCU) contract terms and conditions.
- The area of focus in the contract entail its relevance in assisting the management of issues associated with quality, risk of time extension, risk of costs increase and unethical practices impacting the stakeholders.
- Other than this, the performance measures and management in the organisation operations has been put into account.
- For achieving this, RCU operating in the KSA tourism and culture sector has put into account.
- The contract selected is used in most of the services which are sourced by the organisation from different suppliers. This is to define the level of risk and power that each has in the contract implementation.
- Despite of existence of areas of improvement, clauses lacking detail and lack of sufficient protection, the contract terms and conditions are relevant for RCU operations.
- For all the parties and stakeholders involved in a contract implementation, there is a clear risk allocation and management. This is with the performance being measured and monitored based on their interests.
- There is a need for investing in modernised approaches intended to protect the organisation from the battle of the forms.