Part A Knowledge Test Your task: Answer the following questions. Each question must be completed. – NO PLAGIARISM
Part AKnowledge TestYour task: Answer the following questions. Each question must be completed.Question 1List 3 key groups of people you may build business relationships with in the TH&E Industry.1.2.3.Question 2List 4 reasons business relationships are important.188.8.131.52.Question 3List 2 distribution, marketing or professional networks in your industry that would provide opportunitiesto help build business relationships.1.2.11/12/2019 52141 – Part AKnowledge TestYour task: Answer thehttps://www.australiabesttutors.com/Recent_Question/52141/Part-AKnowledge-TestYour-task-Answer-the-following 3/11Question 4Why is building trust and respect in a business relationship not always easy?Question 5List 4 traits that can build respect and trust in a business relationship.184.108.40.206.Question 6List 6 ways you can maintain regular contact with customers and suppliers.220.127.116.11.5.6.Question 7List 2 methods of Networking. These may be formal or informal.1.2.Question 8There are several types of negotiations. List 3 different types of negotiations a TH&E manager might beinvolved in.1.2.3.Question 9Name 2 cultural differences you may need to consider when negotiating.1.2.Question 10When going into a negotiation, name 2 things you can do to make a good first impression.1.2.Question 11What should you do before going into a negotiation to make sure the outcome is in the best interests ofyour company?Question 12If the negotiation becomes protracted, who should you inform? And how?Question 13List 6 techniques to negotiate effectively.18.104.22.168.5.6.Question 1411/12/2019 52141 – Part AKnowledge TestYour task: Answer thehttps://www.australiabesttutors.com/Recent_Question/52141/Part-AKnowledge-TestYour-task-Answer-the-following 4/11How do open questions help a good negotiator gain information?Question 15Give an example of a written contract you may enter into in the TH&E industry.Question 16‘Obtaining organisational approvals’ is one of the nine steps of procuring a formal business agreement.Name 3 others:1.2.3.Question 17Name 3 types of common clauses which might be included in a contract.1.2.3.Question 18What is the name of the clause which is designed to exclude or limit a person’s liability if the breach thecontract?Question 19What is the purpose of a dispute resolution clause?Question 20Before formally making an agreement, what approval should you seek?Question 21List 4 professional services you might employ to get specialist advice.22.214.171.124.Question 22If you were unsure of how to comply with consumer protection laws, who would you consult to getprofessional advice?Question 23List 4 specialist services an accountant may be able to assist you with.126.96.36.199.Question 24Once you have gained the confidence of a new business associate, what can you build on thatrelationship?Question 25If you have signed a contract that stipulates that you will be paying $5,000 property management fees peryear for 5 years, but your business goes broke in its first year, are you still liable to pay the money?Why/Why not?Question 26When setting KPIs in business agreements, why should KPIs be quantitative rather than qualitative?Question 27When should you review, negotiate and update your contracts?Question 28List 4 factors that could change over time which could affect terms and conditions in your contract.11/12/2019 52141 – Part AKnowledge TestYour task: Answer thehttps://www.australiabesttutors.com/Recent_Question/52141/Part-AKnowledge-TestYour-task-Answer-the-following 5/188.8.131.52.Question 29Name 2 legal requirements from your industry that you may impact negotiations or agreements.1.2.Question 30You are looking at entering a 3 year lease agreement for a commercial property. The contract states thelease payments will be $5,000 per month for the first year, and then increase by 3.8% every yearthereafter.What will the total annual lease payments be for:Year 1?Year 2?Year 3?Part BProjectSection AYour TasksSelect 3 suppliers of goods and services relevant to your area of work (e.g. Food and Beverage, Cookery,Events, Tourism, Administration or similar) who currently supply your organisation (for example meat,fruit and vegetables, stationery, cleaning services, laundry services, beverages, insurance etc.)1. List the suppliers you have selected and describe the products or services they currently provide youwithSupplier 1:Products or services provided:Supplier 2:Products or services provided:Supplier 3:Products or services provided:2. List the key performance indicators/specifications that are required for the supply of each product orservice from each supplier.3. Research alternative suppliers for each supplier you have listed in Question 1, and obtain an alternativequote for each supplier you currently use, based on the key performance indicators/specifications you haveidentified in Question 2.4. Once you have received the 3 quotes, compare these with the existing supplier provisions and attach asummary which outlines the advantages and disadvantages for:• Quality• Prices• Payment conditions• Service provisions• Reliability• Specific needs of your organisations (quantities, $ terms, purchasing power etc.)5. Based on your comparison, write a recommendation for whether one or several new supplier(s) shouldbe considered to replace any of the existing ones. Which aspects will need to be negotiated specificallywhere one or several new suppliers are considered, or re-negotiated where existing suppliers are preferred.6. How are the relationships with existing suppliers managed in your organisation? What does this entailin terms of communication, monitoring and provisions to overcome supply or service issues? What are
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