SITXMGT005 Project Portfolio Template

SITXMGT005
establish and conduct

business relationships
Contents
Section 1: Background research 3
Section 2: Outcomes from networking event 13
Section 3: Contract information 20
Section 4: Negotiation process 25
Section 5: Contract negotiation outcomes 27
RADIX EDUCATION PTY. LTD. T/A CANBERRA INSTITUTE OF EDUCATION AND TECHNOLOGY
Ground Floor 15 Barry Drive, Turner ACT 2612 | CRICOS Provider Code: 03835K | RTO Code: 45592
Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|2

Project Portfolio Template
This document will form a portfolio for submission of work for this assessment. Complete each
section and submit to the Assessor for marking with the final assessment documents.
Section 1: Background research
Use the table below to record information about your case study business and research that you
carry out on the other two businesses. You can use this information to help you negotiate business
opportunities so ensure that you are thorough in your research so you understand what benefits
and opportunities can be made from establishing a relationship with them.
Name of your selected case study business: Canberra Cake Boutique
Website link: https://www.canberracakeboutique.com.au/
What is the main industry sector for this Food and beverage industry.
business?
Explain the industry structure and how this The Food and Beverage industry structurally
business fits into it. comprises of processing, distribution and retail of
food and drinks. Wedding cake supplying is sub
category of this business and provides personalised
services according to specific needs of customers.
And can produce various opportunities to collaborate
with other businesses.

Outline the main products and services Ginger house bread $60.00
provided by the business (include any
Wedding cake
pricing structures).
Celebration cake
What memberships or associations does Business doesn’t have any member or association.
the business have?
List any marketing and or purchasing Purchasing of high-end customizable wedding and
activities that you could offer other celebration cakes for event organisers
businesses to promote collaboration.
Purchasing of ingredient for cake making
Offering Christmas Gnomes Course for other
employers

List all reference materials used to https://www.ato.gov.au/businesses-and-

determine: organisations/income-deductions-and-concessions/
small-business-benchmarks/in-detail/cake-shops-
 facts and statistics on the business
and-patisseries
 potential key performance indicators
https://www.ibisworld.com/au/industry/bread-cake-
 market information. retailing/399/
Use the following tables for the businesses that you will meet with.
Name of first business: The Corner Market
Website link: https://thecornermarket.com.au
What is the main industry sector for this Retail Busniness

business?
Explain the industry structure and how this The retail industry comprises of a variety of stores
business fits into it. that include department stores, specialty shops,
supermarkets, and convenience stores. General
stores are sub category of retail sector that
provide a various essential item. They are
convenient and prospective.

Do they have any current relationships or No.

links with other businesses?
What opportunities are there to work with The Corner Market is retail business and can
this business? provide an opportunity to collaborate with to sell
item to comparatively large customers. It opens
new business horizon.
How does the business use social media to Business is at Facebook and provide information
interact within the industry? of items, discounts and special offers.

Identify how this business networks. The business networking include wholesale and
local suppliers, inventory management, customer
service and marketing.
With regard to this business, what are their The current supply of this business. Moreover it
current sources of supply and how does this also have local suppliers so being cake maker I
compare with what you can offer? can supply them creating a good business
opportunity.
What professional networks does this This business use email network as professional
business use? network.

In what way could you engage regular This business has physical office as well as email
contact with the business based upon their network. So, by arranging regular meeting or
current networking approaches? networking by email. I can engage with business
on regular bases.
Include any further information that you Business is highly depend on supplier and it is
think will support your understanding of the great opportunity to collaborate with such
business and that you can use to make business to create a potential sales opportunity to
viable proposals or agreements for maximise my sales.
collaboration.
Describe how the reference materials Reference material helped to understand the
assisted the negotiation process? market indicators and future aspect as well as
business networking. Combined all helped to
build better information to negotiate on
reasonable terms.

Name of second business: Sparkling Lane Events
Website link: https://sparklinglane.com.au/
What is the main industry sector for this Event management Services.
business?
Explain the industry structure and how this Event management services structure involves
business fits into it. planning, organizing, and executing events by
coordinating various aspects such as venue,
catering, entertainment, and logistics to ensure
successful outcomes. This business and based
on services. It provides contract-based services
of weddings and birthdays to corporate events
and fundraisers.
Do they have any current relationships or This business operates independently.

links with other businesses?

What opportunities are there to work with This is wedding planner contractor can being
this business? wedding cake makers. It is great opportunity to
enhance network with this business and creating
opportunity to maximize sales.
How does the business use social media to Business use Facebook and Instagram to interact
interact within the industry? general audience to enhance netwotking.
Identify how this business networks. This business network through website, email
and social media.

With regard to your business, what are their This is contract-based event organisers. They
current sources of supply and how does this depend on other suppliers to meet the need of
compare with what you can offer? their customers. I can provide wedding and
birthday cakes for their wedding and birthday
parties.
What professional networks does this This business uses website and email as
business use? professional network.
In what way could you engage regular I can interact through email and WhatsApp on
contact with the business based upon their regular basis as these are their current
current networking approaches? networking approaches.

Include any further information that you This business gives services for various events
think will support your understanding of the and requires supplies for the event such a
business and that you can use to make wedding and birthday parties and fundraisers.
viable proposals or agreements for These events create great opportunity to make
collaboration. contracts and agreements to collaborate on
regular bases.
Describe how the reference materials Reference material helped to understand the
assisted the negotiation process? business, giving deep insights and their needs. It
helped to negotiate on better terms.

Section 2: Outcomes from networking event
Use the tables below to record information discussed with the two business you met with and
reflect on the way the agreements will be formed.
Name of Business: The Corner Market
Briefly summarise how you think the meeting went. What were the key takeaways?
The meet went perfectively and it really encouraged the collaboration with The Corner Market.
The owner shoed interest in my products. We discussed on demand and supply of product
including potential buyers.
The take aways from the following;
Products to sell
To have an inventory visit regarding storage
Target market
Supply status
Order sizing
Contracts agreement
Outline the outcomes agreed (this must relate to marketing or purchasing activities):
Pre order requisition
Minimum Order Size
Minimum price
Advance payment

Explain how each outcome will Outcome 1: Advance payment

benefit your business.
This can help to buy ingredient for big orders and it can be a
source of security or compensation in case of cancellation of
the order.
Outcome 2: Minimum order

This can help to evaluate minimum production required. It
can also help to estimate and forecast cost and profits. It
can to smooth production operation on regular basis.
Minimum order gives sense of security as regular sales
indicator..
Outline the specifics of how each Outcome 1: Advance payment secures the cash flow. It
benefit will work (for example a covers all ingredient costs. Its secure booking and resource
discount, links to the website, a allocations. By advance payment last minute cancellation
contact fee). can be compensated.

Outcome 2: Minimum Order

Implementing a minimum order limit helps a local cake
business manage resources efficiently by ensuring orders
meet a certain revenue threshold, reducing small, less
profitable transactions and optimizing production and
delivery logistics. It also enhances profitability by focusing
on larger, more substantial orders that better utilize time and
resources.
Using a specific cost structure, Outcome 1: In a cost structure, advance payment can be
explain how this can be included formalized by setting a fixed price per cake and requiring a
as a formal agreement. partial upfront payment from customers. This policy secures
orders, covers initial costs, and reduces business risk
related to cancellations or non-payment.
Outcome 2: In a cake business, setting a Minimum Order is

about clearly stating in contracts or agreements the
minimum amount customers need to order. It helps ensure
efficient operations and profitability by avoiding small, less
profitable orders and managing resources effectively.

How will you maintain regular 1. Email networking

contact with this business?
2. Monthly meetings
What further networks can you Being part of events organised by the business can help to
be part of that will support the the support better business relationships.
business relationship?
Include any further information Having insight about business reports and new polices can
that you think will support help to maintain and strengthen business relations.
maintaining the business
relationship.
Name of Business: Sparkling Lane Events
Briefly summarise how you think the meeting went. What were the key takeaways?
Business services
Business opportunity
Business Networking
Supply Network

Outline the outcomes agreed (this must relate to marketing or purchasing activities):
1. Fifteen days prior order placement
2. Order takeaway
Explain how each outcome will 1. Outcome 1: Fifteen days prior order placement
benefit your business.
This can help mange order and their specifications. To avoid
any haste and work.
Outcome 2: Order take away

It can help to avoid worry of order shipment and damages
during order shippment. It can also help to cut shipment cost
and improve net profits.

Outline the specifics of how each Outcome 1: Placing an order fifteen days in advance allows
benefit will work (for example a a local cake business to schedule production efficiently,
discount, links to the website, a ensuring they have enough time to source ingredients, plan
contact fee). decorations, and manage staffing to meet the customer's
specific requirements while maintaining quality and avoiding
rush fees.
Outcome 2: Takeaway orders support a local cake business

by broadening its customer base beyond walk-ins, catering
to busy schedules, and prevent order damage costs. Take
way also helps customers to schedule order according to
their ease.
Using a specific cost structure, Outcome 1: The cost structure of this agreement would
explain how this can be included outline any fees or penalties associated with failing to
as a formal agreement. finalize the cake order at least fifteen days before the event,
ensuring both parties understand the financial implications of
adherence to the timeline for efficient planning and delivery.

Outcome 2: The contract may outline that the wedding

planner's clients can opt to take away leftover cake after the
event for a predetermined fee per slice or as a flat rate. This
cost structure ensures transparency and defines the terms
under which the cake supplier provides this additional
service, potentially including packaging costs and conditions
for handling and storage.
How will you maintain regular Email and WhatsApp can be used to maintain regular
contact with this business? contact with business.
What further networks can you Participating physically in the contractors events to ensure
be part of that will support the better services can help build better relationship with the
business relationship? business.

Include any further information Business philosophy and their polices can help to
that you think will support understand business and build healthy relationship.
maintaining the business
relationship.
Section 3: Contract information

Use the tables below to record information researched on key components that should be included
in a contract/agreement for each business.
Name of Business: Sparkling Lane Event
List the key outcomes that must be included in the contract:

Strategic Plans
Operational Plans
Team Performance Plans
Policies and Procedures
Standard Operating Procedures

Research the nature of agreements and contracts in the industry sector and their key role. List
any features and inclusions that should be included in a contract of this nature as well as the
need for specialist advice or not.
A contract for services is a legally binding agreement between two or more parties that specifies
the terms and conditions under which a service provider agrees to work with a client or recipient
of their services.
key components included in a contract for services are:
Parties involve
Timelines and Deadlines
Scope of Services
Compensation and Payment Terms
Confidentiality and non-disclosure
Termination Clause
Liability and Indemnification
Governing Law and Jurisdiction
Dispute Resolution
List the key components that you will include in the contract that is relevant to the industry and
state. Include:
 terms and obligations of contract
Parties Involved
Scope of Services
Payment Terms
Compliance with Laws:
 methods of contractual agreement
Written Confirmation
Electronic Agreement
 exclusion clauses
Limitation of Liability
Exclusions of Warranties
 dispute resolution clause
Negotiation

Mediation
Arbitration
Jurisdiction
 termination of contracts.
Termination for Convenience

Termination for Cause
Effect of Termination
List any other legal requirements that may impact on negotiations that you may have with the
business (for your state and within the industry). Include links to sources of information.
Governing Law
Entire Agreement Clause
Confidentiality and non-disclosure
List the key outcomes that must be included in the contract:

Strategic Plans
Operational Plans
Team Performance Plans
Policies and Procedures
Standard Operating Procedures
Research the nature of agreements and contracts in the industry sector and their key role. List

any features and inclusions that should be included in a contract of this nature.
Purchase Order (PO) contract are commonly used in retail industry and some key features are
below.
Identification Details
Product or Service Details
Pricing and Payment Terms
Delivery Terms
List the key components that you will include in the contract that is relevant to the industry and
state. Include:
 terms and obligations of contract
Parties Involved
Payment Terms
Delivery Terms
 methods of contractual agreement
Written Agreement
Electronic Agreement
Verbal Agreement
 exclusion clauses
Liability Exclusions
 dispute resolution clause
Negotiation
Arbitration
Jurisdiction

 termination of contracts.
Termination by Notice
Breach of Contract
Consequences of Termination
List any other legal requirements that may impact on negotiations that you may have with the
business (for your state and within the industry). Include links to sources of information.
Australian Consumer Law (ACL) Compliance
Privacy and Data Protection
Employment Law

Section 4: Negotiation process
Use the table below to record the negotiation process that you will follow.
Principles of Develop a strategy and tactic

negotiation
Discussion
Bargain
Agree and Close
Negotiation Putting a fair offer to the test with final-offer arbitration

techniques that you
can apply
Effective Some of the following techniques are considered effective for

communication skills
communication:
to use when
Trust
Mutual respect
conducting formal
Mindfulness
negotiations
Diversity
Open communication

High-level Following are some high-level communication and relationship building
communication and
skills:
relationship building
Communication
Conflict Resolution
skills
Empathy
Teamwork
Adaptability
Emotional Intelligence
Problem-Solving
Self-Reflection
Clear stages to follow The first step involves understanding the issue at hand
in the negotiation
The next step is for each side to present his case
process
The bulk of the negotiation process is a continuous back and forth of
ideas, options, and even arguments between the two sides
The agreement is clearly laid out for both parties
The final step in the negotiation process is fulfilling the agreement
What are you willing For the better negotiation it is important to understand and listen to other
to concede during the party. For this time may be consumed and it may take longer so
negotiations? prolonged for time for better results can conceded.

What are your ‘non- State laws and regulations.
negotiables’ that you
want to stand your
ground on during
discussions?
Section 5: Contract negotiation outcomes
Use the tables below to record the outcomes from negotiations.
Name of business: The Corner Market
List of changes Order size of cakes

suggested Latte Payment fine
List of changes to be Order size of cakes from 150 per month to 100 per month.
made Late payment fine from 2.5% to 1.5%

Reasons for New deal and first business experience.
changes
Changes completed Yes.
YES/NO
Any comments or No.

issues during
negotiations?

Name of business: Sparkling Lane Events
List of changes Late Payment fine

suggested Full refund cancellation days
List of changes to be Late Payment fine from 3% to 2%

made Full refund cancellation days from 2 to 4 days.
Reasons for Busy business schedule and customers agreement requirements.

changes

Name of business: Sparkling Lane Events
Changes completed Yes.
YES/NO
Any comments or No
issues during
negotiations?

SITXMGT005 Project Portfolio Template

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

SITXMGT005 Project Portfolio Template

Uploaded by

Copyright:

Available Formats

SITXMGT005

establish and conduct

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|2

Section 1: Background research

Name of your selected case study business: Canberra Cake Boutique

Website link: https://www.canberracakeboutique.com.au/

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|3

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|4

List all reference materials used to https://www.ato.gov.au/businesses-and-

Name of first business: The Corner Market

Website link: https://thecornermarket.com.au

What is the main industry sector for this Retail Busniness

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|5

Do they have any current relationships or No.

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|6

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|7

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|8

Website link: https://sparklinglane.com.au/

Do they have any current relationships or This business operates independently.

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|9

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|10

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|11

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|12

Name of Business: The Corner Market

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|13

Explain how each outcome will Outcome 1: Advance payment

Outcome 2: Minimum order

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|14

Outcome 2: Minimum Order

Outcome 2: In a cake business, setting a Minimum Order is

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|15

How will you maintain regular 1. Email networking

Name of Business: Sparkling Lane Events

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|16

1. Fifteen days prior order placement

Outcome 2: Order take away

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|17

Outcome 2: Takeaway orders support a local cake business

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|18

Outcome 2: The contract may outline that the wedding

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|19

Section 3: Contract information

Name of Business: Sparkling Lane Event

List the key outcomes that must be included in the contract:

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|20

 terms and obligations of contract

 methods of contractual agreement

 dispute resolution clause

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|21

Termination for Convenience

Name of Business: The Corner Market

List the key outcomes that must be included in the contract:

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|22

 terms and obligations of contract

 methods of contractual agreement

 dispute resolution clause

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|23

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|24

Principles of Develop a strategy and tactic

Negotiation Putting a fair offer to the test with final-offer arbitration

Effective Some of the following techniques are considered effective for

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|25

Telephone: 0261703300 Email: support@ciet.edu.au Website: www.ciet.edu.au | V3.0 Jan 2023|26

Section 5: Contract negotiation outcomes