Reference no: EM133117010

Business Management Skills

Case study: Capital City Finance and Mortgage Brokers (CCF & MB)

Task 1 - Developing and nurturing relationships with clients, other professionals and third-party referrers

George and Mildred require you to write two (2)growth plans.
• The first growth plan will outline how you will strengthen the strategic relationships you already have with a number of real estate agents, accountant and legal firms.
• The second growth plan will outline how you will identify and foster new relationships with other real estate agents, accountants and legal firms
The layout and content of each plan should address the following:
• Identify the business objectives and needs.
• Capital City Finance and Mortgage Brokers (CCF & MB)does not have a vision statement. You will need to create one. (In the first growth plan you will outline how you developed, reviewed and finalised the vision statement).
• Outline the policies and procedures that are essential for the growth plan to be functional, effective and meet legislative requirements.
• Conduct sufficient market research to identify key relationship opportunities and what will be required to maintain and attract relationships.
• Outline how you could use and cooperate with other professionals and third parties to expand and enhance the reputation of the organisation.
• Segment the relationships and tailor the plan for each.
• Clearly identify the priorities for each relationship based on the overall vision and objectives of the business.
• Set appropriate growth targets.
• Develop an action plan to achieve the growth targets.
• Review existing business work activities and confirm they support the business growth plans.
• Outline who will need to be consulted during implementation of your plan.
• Outline how you will monitor and adjust the plan.
You can use a suitable template that you are familiar with or have found on the internet or you can utilise the template provided below.
When completing this task, assumptions are permitted, although they must not be in conflict with the information provided in the background information.
(1,000 words)

Task 2 - Developing business promotion plans
George and Mildred now require you to write two (2) promotional plans.The promotional plans can be on any aspect of the business (new clients, new products, new services etc.).

Question 1
The layout and content of each plan should address the following:
• Research and identify target markets.
• Obtain market research data (or make assumptions) and identify key market data for the plan. This can include, for example, customer demographics, product types (i.e. census data if available), marketing media data (i.e. social media).
• Conduct a competitor analysis. Identify your major competitors (at least two (2)), with a competitor analysis developed for each competitor.
• Develop and review the business' market position based on the research and competitor analysis.
• Develop the business brand and the benefits your business can offer.
• Identify the business' products and/or services using a combination of research and your own personal experience
• Establish the objectives and targets of the promotion.
• Develop and select the appropriate promotional tools.
(1,000 words)
You may use any format for your plan;however,you are not permitted to simply answer the points above. If you are unsure as to how to write a plan, you can refer to the Business Growth and Marketingtopic and use the suggested SMEAC format outlined in Part 6, Section 13. You may also refer to the internet for other examples ofbusiness or marketing plans.
A link providing guidance on how to develop aplan is available in the Toolbox.
You can also use the template below for your plan.
When completing this task, assumptions are permitted, although they must not be in conflict with the information provided in the case study.

Question 2

In the tables below, outline the tasks, steps, resources, personnel and timelines required to develop and implement the promotional plan.
(100 words)

Question 3
You are required to monitor the progress of thepromotionalplans. Complete the tables below to demonstrate how you will monitor your promotional plan over a period of time.
Depending on the type of activity and how it is measured, an average may not be applicable. If not applicable, input N/A in the Average column.
(100 words)

Question 4
You will need to assume that certain aspects of your promotional plan require an adjustment.
For example, ‘consistency of posts to social media not being maintained'.
To make adjustments to the promotional plan, complete the tables below.
(200 words)
When completing this task, assumptions are permitted although they must not be in conflict with the information provided in the background information.

Task 3 - Identifying risk and applying risk management processes
George and Mildred have become very concerned about the potential risks that could jeopardise CCF & MB's business operations. They were very impressed with your growth and promotional plans for CCF &MB so they have now moved you into more of a general manager's role with expanded responsibilities, including managing CCF & MB's risk.
Task 3: Question 1
As part of your new responsibilities, you are required to develop arisk management plan which:
• establishes the context for CCF & MB's risk management plan and establish the boundaries of that context
• outlines the regulatory requirements (in particular who are the regulators)
• lists and explains the tools you will use in assessing the risks you identify
• identifies the stakeholders (both internal and external) you would consult in establishing context and assist with the identification of CCF & MB's risks
• outlines the tools you would use in identifying CCF & MB's risks
• identifies at least two risks and the organisational processes associated with that risk that
CCF & MB could face for each of the six categories of business risk;including strategic risks, compliance risks, financial risk, operational risks, market and environmental risks and reputational risks; with an appropriate risk statement for each identified risk.
Note: You may make any assumptions in producing your plan, but these should be documented either in the body of your plan or separately before you produce it. You are not permitted to simply answer the points detailed above.
(400 words)

Question 2
Refer to the email from co-worker identifying potential riskin the Toolbox. In the answerbox below, write an email to management outlining the identified risk, your analysis, how you would evaluate the risk and suggest how the risk could be best treated.
(200 words)

Question 3
Refer to the risk treatment mapping guide in the toolbox. Using the following steps, complete the risk evaluation and treatment table below:
Step 1. Insert the risks that you identified in Question 1 into the table below.
Step 2. By using the risk treatment mapping guidein the toolbox,appraise the likelihood and consequence for each risk identified and include these in the table.
Step 3. Define how each risk can be treated, and whether a potentially serious risk should be escalated to management.
Step 4. Develop recommendations to mitigate identified risks.
Step 5. Provide recommendations on how to monitor and review the risks identified.
(200 words)

Question 4
Take two (2) of the risks you identified in Question 1 and treated in Question 3. Create a scenario for both where the risk has escalated in likelihood and/or consequence due to the control strategy you applied not working effectively or the situation has changed.
Outline your recommendations for new controls.
Complete the table below.
(200 words)

Task 4- Improving the business

Over the last few months business for CCF & MB has been very good with a number of new clients coming on board as a result of implementing your business growth and marketing plans. However, neither you or the business owners are satisfied with maintaining the status quo; as you and they are committed to a program of continuous improvement.

You all feel that CCF & MB's competitive advantage needs to be strengthened and a SWOT should be undertaken to establish CCF & MB's strengths and weaknesses including benchmarking the business against the industry. You now decide that you will carry out a diagnosis of the business including a SWOT analysis and a benchmarking exercise to improve CCF &MB's competitive advantage and its business. You are to produce a document covering your diagnosis, which will be distributed amongst CCF & MB's key personnel.

As a minimum, your document should cover the following:
• Identify the business priorities, objectives, needs and requirements.
• The data and tools you have used as part of your diagnosis to identify CCF & MB's competitive advantage.
• A SWOT analysis to identify CCF & MB's strengths and weaknesses, its threats and opportunities.
• How you identified and sourced relevant benchmarking data.
• How you selected the key indicators (and who you consulted with) for your benchmarking exercise.
• A consolidated list of the areas for improvement (this must include at least three (3) different financial businesses) you have identified with a cost-benefit ratio established for each of them.
• Outline the stakeholders you consulted with to reach agreement on the areas of improvement and the success factors.
• Recommendations on the changes that may be required that will affect existing workflows or CCF & MB's organisational structure.
• A high-level action plan that will implement and monitor the recommended changes to be made.
In addition to the learning material in Topic 1-2,Part 2,refer to thehelpful links provided in the Toolbox.
(1,000 words)

Task 5 -Managing team effectiveness and performance

One of your key responsibilities as general manager is to develop and implement ways to improve the performance of CCF & MB's consultants and other staff members.

Answer the following questions:

Question 1
(a) Outline the team purpose, roles and responsibilities of the CCF & MB's team.
(b) Using the ‘work plan' template provided below, develop a work plan for CCF & MB. This can be done by using actions of your choice (i.e. nurturing leads to create clients). The work plan will also include who you will allocate various tasks to achieve the plan's objective. The plan must be within CCF & MB's organisational requirements and comply with legal requirements.
(c) Outline the stakeholders that you would need to consult with to ensure that the roles and responsibilities meet the CCF & MB's operational plans, resource requirements and organisational processes.
(300 words)

Question 2 Describe the process you might follow when developing quantitative and qualitative performance criteria. You should explain how you ensure that the criteria relates to CCF & MB's objectives and how to motivate and support staff members to achieve these objectives.
(200 words)

Question 3 How will you facilitate team member input into planning, decision making and operational aspects of team tasks?
(50 words)

Question 4 Locate a code of conduct, either in your workplace or on the internet. Modify and customise it to create a code of conduct that would meet CCF & MB's business requirements.
Ensure that you upload a copy of the original code of conduct as well as your modified version.
You can use the information provided at ‘Workable'. The link is available in the Toolbox.
(150 words)

Question 5 What are the benefits of evaluating and monitoring staff members on a continuous basis?
(50words)

Question 6 Why is it important to document the performance management process? Explain the possible consequences of not retaining appropriate records of this process.
(100 words)

Question 7 In what ways can you reinforce excellence in work performance through recognition and continuous feedback? Howmight you be able reward staff in non-financial ways?
(100words)

Question 8 You have realised that the majority of staff really do not understand the performance management process, development program and legal requirements. You need to deliver a training session to cover the key aspects. Map out your training program in the training template below.
You will need to cover all steps of the performance management process in the Topics/Content of your training program.

At the Fair Work Ombudsman website, you will find an excellent managing performance program. You can use this to develop your training program. The link is provided in the Toolbox.
(200 words)

Task 6 - Performance management

Martin and Luis are working together on project involving the preparation for a loan application for one of CCF & MB's most influential clients, a property developer. Martin missed a deadline and the whole project is now behind schedule by a week. This is the third time in a month that he has missed a deadline. Martin has had problems with meeting deadlines in the past and has already had a written warning.

As the general manager you have been monitoring Martin's performance over the past month, providinginformal feedback about his role in the project. Although he has made several improvements regarding his performance, his inability to meet deadlines has forced the delay of the client's development a further month. CCF & MB made a commitment to the client that the loan application would be with the prospective lender two weeks ago.

The client is not happy that he does not yet have an approval and is considering cancelling the agreement he has with CCF & MB and going elsewhere.

Question 1: You have arranged to meet with Martin to talk about the project and his input. How would you go about providing constructive feedback to Martin?
(100words)

Question 2: Following your meeting with Martin you have decided to continue monitoringhis performance for the purposes of evaluating where improvements can be made and provide feedback. Outline the process you have adopted to conduct this monitoring exercise.
Reference material is available inTopic 1-3, Managing people's performance.
(100words)

Question 3: Following your meeting with Martin, use the evaluation criterialisted in the table below. You should also include any additional criteria you think is applicable. Record and document comments regarding Martin's performance in the performance appraisal checklist below.
(50 words)

Question 4: Using the template below, outline a learning and development plan for Martin.
(a) Explain how you will support this team member throughout the learning and development plan.
(b) How will you ensure you obtain their commitment and agreement to the development plan?
(100words)

Question 5: If Martin's performance continues to be unsatisfactory you will need to counsel and implement the organisation'sperformance improvement process. Outline the steps (including the timeline) involved in taking an employee through the process.
Apoor performance policy example is located in the Toolbox.
(200 words)

Question 6: Luis is basically the opposite to Martin. He meets deadlines and producesquality work. The project delays are not due to his work. You are considering training him to manage a new office that CCF & MB are considering opening on the other side of the country. He does not have management experience though.
You have also arranged to meet with Luis to talk about the project and his other work. How would you go about providing recognition and positive feedback to Luis?
(100 words)

Question 7: Following your meeting with Luis you have decided to monitor his management capability for the purposes of evaluating where improvements can be made and provide feedback. Outline the process you have adopted to conduct this monitoring exercise.
(150 words)

Question 8: Following your meeting with Luis, create an evaluation document. Use the below evaluation criteria templateto record and document comments regarding Luis' performance and capability as a manager in the performance appraisal checklist below.
(100 words)

Question 9: Using the template below, outline a learning and development plan for Luis.
(a) How will you support this team member throughout the learning and development plan to help him develop his management skills?
(b) How will you ensure you obtain Luis' commitment and agreement to the development plan?
(250 words)

Task 7- Develop a performance plan

Question 1: In order for CCF & MB to continue to meet their primary goal of ‘being a leader in offering broking services to the local community', they have asked you, in your capacity as the newly appointed general manager, to develop a performance plan and establish some ‘key performance indicators' (KPIs) for all customer service staff.

The objective of the performance plan is to focus on the organisation's key goals and objectives in line with the ‘Service standards statement'available in the toolbox.

Information on people performance can be sourced from the learning material Topic 1-3, People management. (200 words)

Question 2: Write an email for circulation within the business that praises the team's positive efforts and contributions over the last six months.Ensure that you are specific so as the team knows what they have done well and the impact that their actions.
(100 words)

Question 3: (a) What processes will you implement to identify and address issues, concerns and problems identified by team members?
(b) How will you encourage the team to participate and take responsibility for solving problems?
(c) How will you support the team to identify, participate and take responsibility for solving problems?
(d) What behaviours will you need to exhibit to promote teamwork and collaboration?
(300 words)

Question 4: In the template below,outline the communication that you will provide to key stakeholders (in particular George and Mildred, and the team). Identify at least five (5)stakeholders and advise of their preferred communicationrequirements.
(100 words)

Question 5: The team members are struggling to achieve the KPI's established in your performance plan and have requested that you inform George and Mildred that they cannot be achieved without an additional administration staff member (maybe just part time). After discussion and consideration, you agree. Write an email to George and Mildred outlining the issue and develop a solid case for the recruitment of an additional staff member. (100 words)

Question 6: In Task 6 there were some serious issues with a loan application for one of CCF & MB's most influential clients, a property developer. The client is thinking of cancelling the agreement. Write an email to George and Mildred outlining the issue and how you have resolved it.
(100 words)

Question 7:  The Tuckman's theory focuses on the four (4) stagesa team goes through as they develop and grow together over time.
To understand more about the four stages of team development use the link from MIT Human Resources and the video ‘Tuckman's Stages of Team Development - the links are located in the Toolbox.
(a) For each of the four (4) stages of team development (forming, storming, norming and performing), describe the support you will provide the CCF & MB team to facilitate cohesiveness and teamwork. Include how you will change your leadership and management style to meet the needs of the team at each of the four stages of development.
(b) How would you consider the team members' individual personality and emotional needs? (300 words)

Question 8: One of the most difficult challenges a manager faces is to maximise performance while maintaining a positive work environment.
(a) Give three (3) examples of challenges that can arise when managers attempt to maximise productivity within a work team.
(b) For each of these challenges, provide a range of solutions to maintain team cohesion whilst maximising productivity - three (3) solutions for each challenge(atotal of nine (9)).
Refer to the Toolbox for a helpful link. (250 words)

Attachment:- Case Study - Capital City Finance and Mortgage Brokers.rar