How to foster and maintain business relationships

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Reference no: EM132019341

Establish and conduct business relationships

Part 1.

You are working as the Purchasing Manager for International Hotel Group. You have been asked to source all furniture, large and small equipment, and food and beverage service equipment required for the new dining area that is going under some major renovation.

Read the case study and choose one area, product or service to focus on your negotiations. You must be able to establish and conduct business relationships with at least two of the following:

- cooperative partner with organisation
- contractor
- customer
- networks
- supplier

Task 1

a) Outline how you endeavour to build relationships with the suppliers/producers. Include the communication strategies, that describe how you will establish business relationships, how you intend to build trust and respect and how you intend to maintain any existing relationships that you may have with the existing suppliers/producers.

b) After contacting the supplier/contractor/business to negotiate with, research that organisation and its people. Describe results of your research and the cultural factors you'll need to consider during negotiations. Remember you need to select at least two to conduct business relationships with

c) List and prioritise your objectives, negotiable and non-negotiable requirements, desired outcomes

d) What concessions (if any) are you prepared to make during negotiations to achieve your objectives

e) Decide who will involve in the negotiations and what roles team members will play during the negotiations (your assessor will assist you to form a team for the role-play in Task 2)

f) List the internal and external issues that could affect this business negotiation as well as any challenges you foresee occurring during the negotiation process. Describe how you would deal with each one

g) Who might you seek input from within your organisation before or during negotiations

h) Who will you communicate the results of negotiations to?

i) Write an agenda for the negotiations.

Task 2
Form a team of three members and with your team, role-play a negotiation with the suppliers in Task 1. The suppliers' prices are higher than you wish to pay, but they have a good reputation for providing high quality. Your assessor will use the observation checklist to assess you. Make sure you demonstrate these skills in your role play.

You can view the following videos to help you understand negotiation process and participate in role-play

Task 3
Based upon your research from Task 1 and negotiations from Task 2, develop a contract/agreement that confirms in writing all of the agreements negotiated, allowing for areas for signatures and approvals. You must draw the contract with the two suppliers you selected. You could use the template below. Prepare an email to the General Manager and the Supplier detailing the results of the negotiations and contract.

Supplier contract Template

(Enter name), known as the first party, agrees to enter into this contract with (Enter name), knows as the second party on (enter date).

This contract is based on the following provisions:

1. List provisions (e.g. the timely supply, credit arrangements etc.)
2. (list provision)
3. (list provision)

Furthermore, the first party agrees:

(other items applicable to the First Party included here) And the Second party agrees:
(other times applicable to the Second Party included here)

Invalidity or unenforceability of one or more provisions of this agreement shall not affect any other provision of this agreement

This agreement is subject to the laws and regulations of the state of New South Wales.

Task 4

Develop a report that details how you intend to foster and maintain the business relationships, including how you would source and act up on the information needed for relationship building. Ensure that you include in your answer how you intend to measure performance and make adjustments and amendments to further negotiations and contracts.

Part 1. Checklist and Scope of Submission
Before you hand in part 1, use the checklist below to make sure you have completed all the tasks and have included all relevant information.

- Provided appropriate responses for all questions from Task 1
- Participated in Role-play
- Developed a contract and prepared an email to the stakeholders
- Developed a report with details on how to foster and maintain business relationships

Attachment:- Establish and Conduct business relationship.rar

Reference no: EM132019341

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Reviews

len2019341

6/15/2018 4:43:31 AM

Maximises benefits for all parties through use of established negotiation techniques and in the context of establishing long-term relationships. Demonstrates the communication skills necessary to conduct and close negotiations that may be of significant commercial value. Incorporates knowledge of principles of negotiation. Demonstrates understanding of stages in the negotiation process.

len2019341

6/15/2018 4:43:25 AM

Establishes relationships and opens negotiations within appropriate cultural context using effective communication skills and techniques. Builds trust and respect in business relationships through use of effective communication skills and techniques. Conducts negotiations in a professional manner in the relevant cultural context. Conducts negotiations in the context of current organisation goals.

len2019341

6/15/2018 4:43:08 AM

ASSESSMENT 2: Written Exam During the last week of classes for this unit, you will be required to do an exam covering the content of the unit. During the first classroom session for the unit, your trainer will tell you the date of the exam. This is a 2 hour exam that you will complete in class under your trainer-assessor’s supervision. You may refer to your class notes and other materials in this exam.

len2019341

6/15/2018 4:43:02 AM

Assessment Number Assessment Task ASSESSMENT 1: Assignment Your trainer/assessor will give you this during the first classroom session for this unit of competency, together with any other relevant information required to complete the assessment. You are required to submit the assessment in the last week of class for the unit. Your trainer/assessor will tell you the due date during the first classroom session. This assessment is based on the case study “International Hotel Group” and the activities given below

len2019341

6/15/2018 4:42:54 AM

• After you have completed an assessment, your assessor will give you feedback about your performance and tell you whether the result is “satisfactory” or “not satisfactory” • If your performance is not satisfactory, you will be advised about any gaps in your knowledge or skills and given an opportunity to be re-assessed. • If you think the assessment process was flawed, you may appeal against the assessment decision. Refer to Assessment Appeals section of the Complaints and Appeals policy. • After you have completed all the assessments for a unit (or group of units in some cases), you will be awarded C (Competent) if the assessor is satisfied you have provided enough appropriate evidence to meet all criteria. If you are unable to meet this requirement, you will receive the result NYC (Not Yet Competent). • If you are deemed NYC and require re-assessment, you will be informed of the process.

len2019341

6/15/2018 4:42:39 AM

• Paper submission – attach the evidence (as single submission) to the front page of this assessment, complete the details on the front page and use it as the Assessment Cover Page. • Online submission – Follow the guidelines outlined the Moodle Guide for Students • Assignment evidence (e.g. reports) must be typed in Arial 12-point type • Make sure you keep a copy of your assessment evidence before you submit. • All assignment work must be your own – your own words. All quotes from reference sources (e.g. books and websites) must be acknowledged and listed at the end of your assessment evidence. You must also ensure that the information you provide in assessment evidence must be relevant and current (recent enough). • Group or Team Work: In some cases, you will be required to work on a task in small groups, and your trainer/assessor will allocate you to a group to work as a team. You may even be allocated a particular role.

len2019341

6/15/2018 4:42:14 AM

Please read the following carefully • Assessments are to be completed according to the instructions provided in the assessment document. Your trainer/assessor will go through the instructions with you. • Assignments are to be completed at home, in your own time. • Observations, presentations and role-plays must be completed under the assessor supervision. • If you are not sure about any aspect of an assessment, ask your trainer/assessor to explain the requirements. • All parts of each assessment (tasks and/or questions) must be completed/answered unless the individual assessment instructions tell you something different.

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