20210611 SIT XMGT002 Assessment Task _ ON KIU LEUNG

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Jan 9, 2024

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SITXMGT002 Establish and conduct business relationships Student Assessment Task Student Name On Kiu Leung Student Id SLB2000178 Course SIT50416 Diploma of Hospitality Management Salisbury College Australia V1.0 Page |16 RTO:45062 | CRICOS:03565E
SITXMGT002 Establish and conduct business relationships ASSESSMENT TASK 1 Written Questions This assessment task consists of 22 questions. You may use reference material to assist you such as texts and the internet, but you must correctly reference your information. You must answer all questions correctly and in accordance with the instructions given. Answers should between 50 to 100 words for each question: 1. Discuss the commercial context for professional business relationships in your industry, including, but not limited to the: a. Industry structure and the interrelationships b. Sources of supply c. Distribution and marketing networks d. Professional networks a. How your industry structure affects the development, regulation and your professional conduct within the relationships i.e. the financial services industry restricts contact with existing customers about loan products unless the customer makes a formal request for information. b. The source of supply and the supplier relationship i.e. if you use a contractor, through an agency, you may not be able to request that contractor again or engage in personal dealings and direct contact. c. The nature of the marketing effort including distribution and marketing networks who will share your message with others i.e. in a training and education service the industry tends to see brokers, who offer incentives for signups, as a no-no due to past ethical problems. d. The guidelines and parameters for existing networks i.e. business, with whom you attend a networking group, may complete work at a cut price for other members of the network but not in complex business structures where they may have to work with other people within your business. Ref : Learning guide P 13 2. Describe the following opportunities to maintain regular contact with customers and suppliers: Salisbury College Australia RTO:45062 | CRICOS:03565E V1.0 Page |2
SITXMGT002 Establish and conduct business relationships a. Association membership b. Cooperative promotions c. Industry functions d. Informal social occasions e. Program of regular telephone contact f. Social media a. Participation in association memberships that allow you to network, engage, cross-promote and benefit from association-wide marketing efforts b. Execution of cooperative promotions whereby the supplier or another business and your organisation equally benefit from a sale, a marketing initiative, a series of posts on social media or similar. c. Attending industry functions where you can tell others about what you are doing, changes in your business and events that are coming up. d. Informal social occasions such as days at the races or launch events where chat can remain social, you can develop the relationship on a personal level and shop-talk is prohibited. e. Program of regular telephone contact, social media outreach, email marketing and similar that engages individuals in a process of becoming informed, maintaining the connection, recognising your business, your brand, and your individual strengths. f. Social media especially where the platform that is built results in two-way communication about positives and negatives, invites individuals to engage on the platform and your website and enables collection of user-generated content that can be used to share the message even further. Ref : Learning guide P 29 3. Outline the each of the following in relation to negotiation: a. Principles of negotiation b. Stages in the negotiating process c. Different negotiation techniques that can be applied A. Identified the core issue, cool down, negotiate for win win, documentation of outcomes, implementation of outcome, review if outcome B. Salisbury College Australia RTO:45062 | CRICOS:03565E V1.0 Page |3
SITXMGT002 Establish and conduct business relationships Identify what is important to each party both regarding ease of implementation and in regards to strategic objectives and work outcomes., Use problem-solving processes such as brainstorming, discussing, multi voting or visual collaboration to identify opportunities. Analyse each opportunity for its fit with your objectives and key performance indicators, existing processes and procedures and legislative and regulatory. Present opportunities to all parties to analyse their appropriateness further. Make concessions, where possible, to order to address some or all of the other party’s constraints. C . model of communication that is effective for keeping on track during negotiations is the STAR method. The STAR method involves speaking to address four key points: Situation or Starting Point Task including Time Frame and Team Actions or Adjustments or Agreements Results or Reaction Ref: Learning guide P32 4. Explain each of the following key components that relate to contact law: a. The nature and role of agreements and contracts in your industry b. Key features and inclusions of contracts c. Terms and obligations of contract d. Methods of contractual agreement e. Exclusion clauses f. Dispute resolution clause g. Termination of contracts h. Any other legal requirements that impact negotiations and agreements a. Professional performance both within the agreement with your organisation and in the wider community, Constant compliance with legislative and organisational requirements., Maintenance of relevant licenses or authorisations;, Application of and adherence to ethical principles to ensure they do not engage in any fraudulent or misleading practices b. 1 c. Terms and conditions normally relate to: Salisbury College Australia RTO:45062 | CRICOS:03565E V1.0 Page |4
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