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Yes No (Please circle) Has sufficient evidence and information been provided by the learner for the activity? Yes No (Please circle) Comments Provide your comments here:
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The learner’s performance was: Not yet satisfactory Satisfactory If not yet satisfactory, date for reassessment: Feedback to learner: Learner’s signature TUAN ANH Assessor’s signature Task 3: Knowledge Activity (Section B) (Q & A) Objective: To provide you with an opportunity to show you have the required knowledge for this unit. The answers to the following questions will enable you to demonstrate your knowledge of: Commercial context for business relationships in the relevant industry sector and related sources and networks Opportunities to maintain regular contact with customers and suppliers Principles of negotiation, stages in the negotiating process, and different negotiation techniques Nature of agreements and contracts in the relevant industry sector and their key role, features and inclusions Key components of contract law at an overview level Other legal requirements that impact negotiations and agreements in the relevant industry Answer each question in as much detail as possible, considering your organisational requirements for each one. Why is it important to understand the commercial context for business relationships, including industry specific needs? It is important to assess the context of all your business relationships and ensure that contact is relevant to each group. It provides the perfect forum to find out your contacts’ likes/dislikes, what interests and motivate them, and allows you and them to get to know each other.
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How can you maintain regular contact with customers and suppliers (provide 5 or more options)? Relationships need regular attention to ensure they remain beneficial on both sides. Just to recap, maintaining relationships is about: Honest and open communications Trust between both parties Building and maintaining a rapport Making regular contact, even if it is just to say hello to let them know you are there. Making time each day/week just to get in touch with your business contacts Remembering points of interest associated to your contacts and acting on these, e.g. sending a relevant article or commentary Reaching out to help your contacts, e.g. referring other businesses to use your contacts or taking the time to help your contacts in their business, such as suggesting they use a certain company or service for a particular task they may have Sending a thank you note/card Invite them to attend a networking event with you (which is more beneficial to them than you). What are the principles of negotiation, the stages in the negotiation process and the techniques you can use in your negotiations?
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