Establish and conduct

Business

Question 1 - List 3 key groups of people you may build business relationships
with in the TH&E Industry.

1. Co- workers
2. Partners
3. Employees
Question 2 - List 4 reasons business relationships are important

1. Build trust
2. Business connections can be go to acceptable fellowships
3. Sharing exhortation
4. Investing and driving freedoms

Question 3 - List 2 distribution, marketing or professional networks in your

industry that would provide opportunities to help build business relationships

1. Raising your profile

2. Positive influence

Question 4 - Why is building trust and respect in a business relationship not

always easy?

I. There are distinctive sort of individuals who work in the business.

II. It is difficult to construct trust, on the grounds that numerous business

connections are online today.

III. Trust and regard with leaders is procured through their group.

Question 5 - List 4 traits that can build respect and trust in a business
relationship.

 Demonstrate that you trust others

 Create relationships that are mutually beneficial
 Directly address issues
 Tell the truth
 Be flexible and patient
 Respect their time
 Deliver the unexpected

Question 6 - List 6 ways you can maintain regular contact with customers and
suppliers.

 Understand the needs of your supplier. What's important to them

  Be a great customer. Think about what you love about your customers and
do the same for your suppliers
 Communication
 Timely feedback
 Choose suppliers that align to your values
 Loyalty

Question 7 - List 2 methods of Networking. These may be formal or informal.

 Meeting for espresso.

 Job fairs.
 Volunteer work.
 Social media gatherings.
 Finding/firing a Meet up.
 Web courses/Webinars.
 Conferences.
 Spreading the word.

Question 8 - There are several types of negotiations. List 3 different types of

negotiations a TH&E manager might be involved in.

 Giving more salaries to the near and dear one of the employees
 Decision making
 Formulating rules and regulations for the org.

Question 9 -Name 2 cultural differences you may need to consider when

negotiating.

 Difficulty of language
  Physical cues

Question 10- when going into a negotiation, name 2 things you can do to make
a good first impression.

 Be on schedule.
 Present yourself fittingly.
 Be yourself.
 Have an energetic grin.
 Be open and sure.
 Use casual conversation.
 Be positive.
 Be considerate and mindful

Question 11 - what should you do before going into a negotiation to make sure
the outcome is in the best interests of your company?

 Research
 Determine the most awful arrangement you'll take – and what you'll
do in the event that you don't get it.
 Prioritize what's generally critical to you and what you'd surrender
 Do your best to decide your partner's requirements
 Find the normal associations you share with your counterpart(s).
 Make wellbeing and useful trust with one another's

Question 12 - If the negotiation becomes protracted, who should you inform?

And how?

First ensure all applicable gatherings are educated with modern data and spotlight
more on making esteem then results. What's more, If it actually become extended
you ought to educated your quick director/administrator and so on.
Question 13 - List 6 techniques to negotiate effectively.

 Prepare, Enter a negotiation without proper preparation and you've already

lost.
 Pay attention to timing
 Leave behind your ego
 Ramp up your listening skills
 If you don't ask, you don't get
 Anticipate compromise
 Offer and expect commitment
 Don't absorb their problems

Question 14 - How do open questions help good negotiator gain information?

Open inquiries will in general be seen as less undermining than shut inquiries since
they give arbitrators scope to choose how much data they will share. They likewise
urge arbitrators to give itemized answers as opposed to single word reactions.

Question 15 - ‘Obtaining organizational approvals’ is one of the nine steps of

procuring a formal business agreement, Name 3 others

 Purchase Requisition
 Requisition review.
 Solicitation process 

Question 16 - Name 3 types of common clauses which might be included in a

contract.

 Termination clause
 Dispute resolutions clause
 Exclusion clause

Question 17- What is the name of the clause which is designed to exclude or
limit a person’s liability if the breach the contract
The expressions "avoidance statement", "exception proviso", "disclaimer" and
"cautioning" are regularly utilized conversely. By and large they allude to
proclamations that are planned to restrict somebody's obligation in case of
misfortune or harm.

Question 18- What is the purpose of a dispute resolution clause?

A debate goal provision is a composed comprehension among you and the other
party determining what ought to occur on account of a conflict. The arrangement
will frame part of your agreement and set out strides to determine issues before
they raise.

Question 19 -Before formally making an agreement, what approval should

you seek

Approval from the superior

Question 20- List 4 professional services you might employ to get specialist
advice.

 Accountants. Accountants are one of the most common business advisers

and businesses will usually seek advice from an accountant at least once a
year
 Business bankers
 Consultants
 Financial advisers

Question 21 -If you were unsure of how to comply with consumer protection
laws, who would you consult to get professional advice?

Relationship with attorney is of specific significance to guarantee consistence with

the numerous laws and guidelines relating to a TH and E business. Legal advisor
can exhortation to the business on its privileges and obligations and safeguards the
business from legitimate issues that emerge

Question 22 - List 4 specialist services an accountant may be able to assist you

with.

 Taxation advice and planning.

 Software advice and assistance.
  Budgeting and cash flow analysis.
 Audits for Travel Agents, Real Estate Agents and Lawyers.

Question 23 - Once you have gained the confidence of a new business

associate, what can you build on that relationship?

 Offer information and backing

 Relationships set out new relationship open doors
 Develop new business openings
 Creates venture openings
 Improves relational abilities
 Opportunity to acquire new business partners and workers
 Build long haul kinships
 Boost rehash clients

Question 24 -If you have signed a contract that stipulates that you will be
paying $5,000 property management fees per year for 5 years, but your
business goes broke in its first year, are you still liable to pay the money?
Why/Why not?

Yes, I still liable to pay money but not from my business, i have to take loan from
the bank because my business is broken in first year how it will gain to 5 year.

Question 25- When setting KPIs in business agreements, why should KPIs be
quantitative rather than qualitative?

Set of quantifiable measure that an organization or industry a client to check or

looks at execution as far as meeting their key and functional goals.KPI is
quantitative in light of the fact that it is the presentation pointer center around
numbers/numeric qualities rather than message/account structure respondents.

Question 26-When should you review, negotiate and update your contracts?
It is important to review, negotiate and update your contracts with customers or
suppliers, as the end of the contract term approaches.

Question 27-List 4 factors that could change over time which could affect
terms and conditions in your contract

 Price increases in supply and delivery

 Availability of suppliers
 Distribution costs or challenges
 Number of customers using the service
 The service levels experienced or expected
 External or environmental factors

Question 28 -Name 2 legal requirements from your industry that you may
impact negotiations or agreements.

 Supplier agreements.
 Risk management.

Question 29 - You are looking at entering a 3 year lease agreement for a

commercial property. The contract states the lease payments will be $5,000
per month for the first year, and then increase by 3.8% every year thereafter.
What will the total annual lease payments are for?

Year 1 = 5000*12 =$60,000

Year 2 = 60000*3.8%+60000 = $62,280

 Year 3 = 62280*3.8%+62280 = $64,646.46

Assessment (II)

PART (A)

1. List the suppliers you have selected and describe the products or services they
currently provide you with

Supplier 1: Products or services provided:

Tasman Butchers – Brimbank

Meat, eggs and sausages
Supplier 2: Products or services provided:

MKS – St.Albans
Asian Groceries (Indian & Sri Lankan)

Supplier 3: Products or services provided:

Big fields – Brimbank

Fresh Fruit & Vegetables

2. List the key performance indicators/specifications that are required for the
supply of each product or service from each supplier.
 The key performance indicators/specifications that are required for the
supply of each product or service from each supplier is:-

Suppliers Key Performance Indicators (KPI)

 Fresh & Clean

Tasman Butchers  Supplier defect rate
 Spend under management (SUM)
 Price Competitiveness
 Arrived at a proper temperature

MKS – St.Albans
 Compliance rate
 Packages are sealed & not damaged
 Arrived at a proper temperature
 Good customer service
 Quality Products

 Wholesale price
Big fields – Brimbank  Friendly service
 Fresh & Clean
  Availability
 Arrived at a proper temperature

3. Research alternative suppliers for each supplier you have listed in Question 1,
and obtain an
alternative quote for each supplier you currently use, based on the key
performance indicators/specifications you have identified in Question 2

Suppliers Alternative suppliers

Tasman Butchers Cairnlea Butcher

MKS – St.Albans
Star Lanka

Big fields – Brimbank Sunshine Fruits Market

4. Once you have received the 3 quotes, compare these with the existing supplier
provisions and attach a summary which outlines the advantages and
disadvantages for:

Tasman Butchers Cairnlea Butcher

Price 4/5 3/5

Varieties offered 5/5 4/5

Reliable 5/5 5/5

Lead time 5/5 3/5

Inventory cost 5/5 4/5

Buffer stock 4/5 4/5

Market value 5/5 4/5

 Both providers arrived at our standard quality, administration

and consumer loyalty.
 Tasman Butches Supply is citing for the best quality items for
the inn business
 Tasman Butches Supply is offering for the least expensive rate
in the market when contrasted with the contenders
 The Tasman Butches Supply is guaranteeing without a moment
to spare conveyance according to the day by day necessity of
the lodging
 The choices for installment incorporate Mastercard, check, and
money down

MKS – St.Albans Star Lanka

Quality 5/5 4/5

Price 5/5 3/5

Lead time 4/5 3/5

Inventory cost 5/5 5/5

Buffer stock 4/5 5/5

Reliable 5/5 4/5

 The MKS is serving at the highest quality standard meeting all the
 requirements and guidelines of the hotel
 The options for payment include credit card, cheque, and cash on
delivery
 Overall MKS is more suitable then Star Lanka company.
 Need to talk with MKS about buffer stock

Big fields – Sunshine Fruits

Brimbank Market

Price 5/5 4/5

Brand offered 5/5 4/5

Lead time 5/5 5/5

Inventory cost 5/5 3/5

Buffer stock 5/5 4/5

Quality value 5/5 4/5

 Our strategy is quality, administration and consumer

loyalty.
 Big Field provider is representing the best Fresh
vegetable and Fruit provider in Australia when contrasted
with the Sunshine Fruit Market.
 The Big Field provider is serving the assortment of
vegetables and natural products for the endless
requirements of the clients.
 Price is additionally more sensible then elective
providers.
 The alternative for installment included Mastercards,
check's and money down.

5. Based on your comparison, write a recommendation for whether one or

several new
 supplier(s) should be considered to replace any of the existing ones. Which
aspects will need to be negotiated specifically where one or several new
suppliers are considered, or re-negotiated where existing suppliers are
preferred?

As indicated by my examination I might want to suggest getting orders from first

referenced providers. Since that providers serving at the best standard gathering
every one of the necessities and rules of the lodging. Also, they satisfy our strategy
of value, administration and consumer loyalty.

6. How are the relationships with existing suppliers managed in your

organisation? What does this entail in terms of communication, monitoring
and provisions to overcome supply or service issues? What are your
recommendations based on existing provisions in place (or where these do
not or only partially exist)?

Providers are our accomplices and this relationship ought to be put together not
just with respect to monetary exchanges. Yet in addition on common trust and
unwaveringness. Cause our providers to feel like they are a piece of our
business. advise them about our cycles ,like arrivals of new items and
advancements and pay attention to their interests would prefer not to lose my
providers, I can do that by paying them on time so I can demonstrate that I am
dependable client and simple to work with. On the off chance that I can't make
installment out on the town concurred, I will educate the providers at the
earliest opportunity with the date on which then, at that point can anticipate the
installment.

7. Where actual negotiation will take place as a result of the aspects you have
identified in
Question 5, you will be observed conducting these negotiations for Part B
of this assessment project.

Actual negotiation will take place at Melbourne

 PART (B) - – Conducting Negotiations

Provide the following details for at least 2 different negotiations (Negotiation 1

and 2) you will undertake:

 Negotiation 01

Real negotiation Simulated negotiation

Supplier details MKS – St.Albans

Location 276-278 Main Rd E, St Albans VIC 3021

Date 14/03/2021
Nature of negotiation Buffer stock

Details  Maintain food supplies and avoid

shortages

Represent by: Manager

 Negotiation 02

Real negotiation Simulated negotiation

Supplier details Tasman Butchers

Location Shop T13, Station Rd, Deer Park VIC 3023

 Date 23/04/2021

Nature of negotiation Price contract

Details  Lowest cost ownership

 Reasonable price
 Terms of payment
 Discount on hefty purchases
Represent by: Manager

PART (C) - Making formal agreements

01. Present the outcomes from each negotiation to your supervisor/manager or

trainer and discuss the viability of each term negotiated according to your
 notes. Enter the outcomes for each contractual detail you have negotiated in
the table below and indicate the changes required (if any) and/or the
approval to proceed with the agreements.

Supplier. 01 Approved Not approved Recommend

change

Contractual1-quality Yes

Contractual2-price Yes

Contractual3-payment Yes
type

Contractual4-lead time Yes

Contractual5-inventory Yes
cost

Supervisor name: Mr. S.D. Tomas

Supervisor signature: S.D. Tomas
Date: 25/03/2021

Supplier 02 Approved Not approved Recommend

change

Contractual. 1- price Yes

Contractual. 2-quality Yes

Contractual 3-brand Yes

Contractual. 4- Yes
discount

Contractual. 5-lead Yes

time
Supervisor name: Mr. S.D. Tomas
Supervisor signature: S.D. Tomas
Date: 30/04/2021

02. Based on the feedback from your supervisor or trainer, contact the
supplier and negotiate the final changes if required. Record the negotiated
changes in the table and obtain final approval from your supervisor or
trainer.

Supplier 01 Outcome Approved Not approved

Details negotiated

Payment 15 days to pay Yes

Quality Best quality Yes

Freshness New and fresh Yes

Buffer stock No risk of shortages Yes

Supplier 02 Outcome Approved Not approved

Details negotiated Yes

Discount 10% discounts and offers Yes

Quality High quality products Yes

Payment Week to week pay Yes

Delivery On time delivery Yes

3. Contact each supplier by email/Letter and confirm the agreements made.
Advise each party that you will finalise the formal agreements for signing
of all parties.

MKS
276-278 Main Rd E,
St Albans VIC 3021

Dear supplier,

This email confirms that we are in agreement with the terms. Our hotel plan to execute
the agreement and return to your company for execution as well

According with the negotiation I am sending the agreement regarding the following
points,

1) Payment within 15 days

2) Quality of product
3) Freshness of the product
4) Buffer stock - No risk of shortages

We look forward to a long and mutually beneficial relationship.

Thanks & Best Regards

Finn William
Manager
 Tasman Butchers
Shop T13, Station Rd, Deer Park VIC 3023

Dear supplier,

According with the negotiation I am sending the agreement regarding the following points,

1) Discount of 10%
2) Payment day due week by week after delivery
3) Good quality chemicals

Our hotel sends you this email confirm that we are in agreement with the terms. We plan to
execute the agreement and return to your company.

We look forward to a long and mutually beneficial relationship.

Good luck.

Thanks & Best Regards

Finn William
Manager
4. Draw up the contract agreements based on your final negotiated outcomes.
Each contract
must contain the following details:

AGREEMENT
This agreement is made 10th of April 2021

BETWEEN
Deer Park Hotel – 312 Station Rd, Deer Park 3023
MKS -276-278 Main Rd E, St Albans VIC 3021

ABN
93467103170 – Deer Park Hotel
 65139667191 – MKS

IT IS HEREBY AGREED THAT

Intention
 Both parties intend to create legal relations
 Both parties intend to abide by the contract
 Both parties understand and intend that the agreement be enforced by law

Agreement
Deer Park Hotel orders all Asian grocery item (Indian & Sri Lankan) from the
MKS -St Albans Supply

Offer
MKS -St Albans supplier is responsible to supply all Asian grocery items on
time to Deer Park Hotel
(List Attached)

These items must be delivered without damages on the date request by the
hotel.

1. Deer Park Hotel should place the Oder at least 7 days before delivery time.
2. The supplier shall use its best endeavours to supply goods in accordance
with the hotel order

Terms
1. This arrangement starts on the beginning date.
2. Once the agreement is finished, the inn can't change their Oder item and
amount.
3. In instance of important to change the provisions of the agreement because
of unavoidable conditions counsel between the gatherings.

Conditions
The requirements for the contract to be fulfilled are as follows,

Deer Park Hotel must be offered at limited costs when the lodging orders in
excess of 900 things altogether. Installment should be made on the date
mentioned the provider.
The provider would be giving a 20% markdown on each fifth request of the
stock. The provider must conveyance on the date the inn wants. This
conveyance is free.

Warranties
The standard warranty offered on MKS -St Albans supply products is 03
months.
The warranty period is applied from the date and delivery completion.

Limited liability
The item obligation hazard identified with synthetic substances showcasing is
that of client responsibility related with wounds brought about by unsafe items
like sullied fluids. An occasion related with items responsibility hazard might
have an extremely low likelihood of event yet may bring about an enormous
financial misfortune.

Intellectual property
Trademark and copyright of chemicals from Australia trademark attained with
the help IP Australia act.

Confidentiality
The Privacy Act 1988 (Privacy Act) was introduced to promote and protect the
privacy of individuals and to regulate how Australian Government agencies and
organisations with an annual turnover of more than $3 million, and some other
organisations, handle personal information. Contact information of client won’t
be shared or discussed with third parties.

Insurance
Good insurance agent can assist business with compulsory and optional
insurance needs.

Disputes resolution
This is under the horticulture code procedures involving the following steps,

• What the question about

• The activity they think will settle the question
• Their wanted result
• The parties should then attempt to determine the question
 • Once matter has been put down for intercession, the two players should go
to the intervention and attempt to determine the debate.
• The objection should educate the other party recorded as a hard copy
regarding the debate and states.

Termination clause
Either party may terminate this agreement on 30 days written notice.

This agreement may be terminated if either or both parties do not faithfully

fulfil the contract or violate the content.

Name: Dan

Signature:

Date: 2021

5. Present your final contracts