Assignment Task: SITXMGT002 - Establish and Conduct Business Relationships

In this assignment, you will engage in collaborative efforts with your student group to cultivate and enhance business relationships, identifying opportunities through collaboration, negotiation, and formal agreements.

Activities

Complete the following tasks:

1. Choose a case study business from the list provided and assume the role of the business owner or manager.

2. Conduct background research on your selected business and two other businesses you will meet with. Record relevant information in the Project Portfolio document.

3. Establish relationships and brainstorm opportunities with the other two business owners/managers in areas of purchasing and marketing. Document outcomes in the Project Portfolio.

4. Research contracts or agreements suitable for formalizing relationships with the businesses. Complete the relevant section in the Project Portfolio.

5. Prepare for contract negotiations by outlining negotiation principles, techniques, communication skills, and stages. Document this in the Project Portfolio.

6. Conduct formal negotiations with the suppliers, adhering to the outlined negotiation process. Record outcomes and amend contracts accordingly. Send confirmation emails with amended contracts attached.

7. Discuss and agree on amendments to existing agreements to cover situations like cancellations and refunds. Maintain effective communication and document approved changes.

Project Portfolio Template

This template will serve as a portfolio for your assessment. Complete each section thoroughly and submit it along with other assessment documents.

Background Research

Use the provided table to gather information about your case study business and research on the other two businesses. This information will be crucial for negotiating business opportunities.

Questions to Address:

• Main industry sector
• Industry structure and fit
• Memberships or associations
• Current relationships with other businesses
• Opportunities for collaboration
• Use of social media
• Sources of supply
• Professional networks utilized
• Potential for regular contact and networking opportunities

Ensure comprehensive research to understand potential benefits and opportunities for collaboration with each business.