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22 Nov

Written Assignment Business Management Skills (DIPMB3_AS_v3) Student identification (student to… – NO PLAGIARISM

Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Student identification (student to complete)Please complete the fields shaded grey.Student numberWritten Assignment result (assessor to complete)Result — first submission Not yet demonstratedParts that must be resubmittedResult — resubmission (if applicable) Not applicableResult summary (assessor to complete)First submission Resubmission (if required)Task 1 Not yet demonstratedNot applicableTask 2 Not yet demonstratedNot applicableTask 3 Not yet demonstratedNot applicableTask 4 Not yet demonstrated11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 3/15Not applicableTask 5 Not yet demonstratedNot applicableTask 6 Not yet demonstratedNot applicableTask 7 Not yet demonstratedNot applicableTask 8 Not yet demonstratedNot applicableFeedback (assessor to complete)[insert assessor feedback] Before you beginRead everything in this document before you start your written assignment for Business ManagementSkills (DIPMB3_AS_v3).About this documentThis document includes the following parts:• Instructions for completing and submitting this assignment• CCF & MB case study and tasks covering Business Management Skills:• Task 1 — Developing and nurturing relationships with clients, other professionals and third-partyreferrers• Task 2 — Growing the business• Task 3 — Identifying risk and applying risk management processes• Task 4— Improving the business• Task 5 —Managing people performance• Task 6 — Showing leadership in the workplace• Task 7 – Standards and values• Task 8 – Develop a Performance planHow to use the study planWe recommend that you use the study plan for this subject to help you manage your time to complete theassignment within your enrolment period. Your study plan is in the KapLearn Business ManagementSkills (DIPMB3v3) subject room.Instructions for completing and submitting this written assignmentSaving your workDownload this document to your desktop, type your answers in the spaces provided and save your workregularly.• Use the template provided, as other formats will not be accepted for these assignments.• Name your file as follows:Studentnumber_SubjectCode_Assignment_versionnumber_Submissionnumber(e.g. 12345678_DIPMB3_AS_v3_Submission1).• Include your student ID on the first page of the assignment.Before you submit your work, please do a spell check and proofread your work to ensure that everythingis clear and unambiguous.Word countThe word count shown with each question is indicative only. You will not be penalised for exceeding thesuggested word count. Please do not include additional information which is outside the scope of thequestion.Additional researchWhen completing this assignment, assumptions are permitted although they must not be in conflict withthe information provided in the Case Study.You may also be required to source additional information from other organisations in the finance industryto find the right products or services to meet your client’s requirements, or to calculate any service fees11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 4/15that may be applicable.Submitting the written assignmentOnly Microsoft Office compatible written assignments submitted in the template file will be accepted formarking by Kaplan Professional Education. You need to save and submit this entire document.Do not remove any sections of the document.Do not save your completed assignment as a PDF.The written assignment must be completed before submitting it to Kaplan Professional Education.Incomplete written assignments will be returned to you unmarked.The maximum file size is 20MB for the Written and Oral Assignment. Once you submit your writtenassignment for marking you will be unable to make any further changes to it.You are able to submit your written assignment earlier than the deadline if you are confident you havecompleted all parts and have prepared a quality submission.Please refer to the Assignment submission/resubmission videos in the ‘Assessment’ section of KapLearnunder your ‘Assignment Enrolment’ for details on how to submit/resubmit your written assignment.Your written assignment and oral assignment must be submitted together on or before your due date.Please check KapLearn for the due date.The written assignment marking processYou have 12 weeks from the date of your enrolment in this subject to submit your completed assignment.If you reach the end of your initial enrolment period and have been deemed ‘Not yet demonstrated’ in oneor more assessment items, then an additional four (4) weeks will be granted, provided you attempted allassessment tasks during the initial enrolment period.Your assessor will mark your written and oral assignment and return it to you in the Business ManagementSkills (DIPMB3v3) subject room in KapLearn under the ‘Assessment’ tab.Make a reasonable attemptYou must demonstrate that you have made a reasonable attempt to answer all of the questions in yourwritten assignment. Failure to do so will mean that your assignment will not be accepted for marking;therefore you will not receive the benefit of feedback on your submission.If you do not meet these requirements, you will be notified. You will then have until your submissiondeadline to submit your completed written and oral assignment.How your written assignment is gradedAssignment tasks are used to determine your ‘competence’ in demonstrating the required knowledgeand/or skills for each subject. As a result, you will be graded as either Demonstrated or Not yetdemonstrated.Your assessor will follow the below process when marking your written assignment:• Assess your responses to each question, and sub-parts if applicable, and then determine whether youhave demonstrated competence in each question.• Determine if, on a holistic basis, your responses to the questions have demonstrated overall competence.You must be deemed to be demonstrated in all assessment items in order to be awarded the units ofcompetency in this subject, including:• all of the exam questions• the written and oral assignment.‘Not yet demonstrated’ and resubmissionsShould sections of your assignment be marked as ‘Not yet demonstrated’ you will be given an additionalopportunity to amend your responses so that you can demonstrate your competency to the required level.You must address the assessor’s feedback in your amended responses. You only need amend thosesections where the assessor has determined you are ‘Not yet demonstrated’.Make changes to your original submission. Use a different text colour for your resubmission. Yourassessor will be in a better position to gauge the quality and nature of your changes. Ensure you leave yourfirst assessor’s comments in your assignment, so your second assessor can see the instructions that wereoriginally provided for you. Do not change any comments made by a Kaplan assessor.Units of competency11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 5/15This written assignment is your opportunity to demonstrate your competency against these units:Unit code Unit nameBSBRSK401 Identify risk and apply risk management processesFNSPRM603 Grow the practiceBSBMGT502 Manage people performanceBSBMGT401 Show leadership in the workplaceFNSRSK502 Assess risksNote that the written and oral assignment is one of two assessments required to meet the requirements ofthe units of competency.We are here to helpIf you have any questions about this written assignment you can post your query at the ‘Ask your Tutor’forum in your subject room. You can expect an answer within 24 hours of your posting from one of ourtechnical advisers or student support staff.Capital City Finance and Mortgage Brokers (CCF & MB)George and Mildred are very happy with the way you service your clients and are sure that you are a goodfit for the team. They now want you to turn your focus to your primary task, which is to assist inexpanding the business by building relationships with selected real estate agents, accountants and legalfirms through strategic alliances. They also want you to consider how CCF & MB can consolidate itsrelationships with its existing strategic partners.Let’s recap on what you already know about Capital City Finance and Mortgage Brokers (CCF & MB).It’s a family owned business providing a range of mortgage and finance broking services to the businessand private sectors, with experience in all facets of finance and insurance, providing expert advicecovering a multitude of products and options existing within the market.CCF & MB specialises in home loans, commercial lending, business lending, personal and motor vehiclefinance and insurance (life and general) and focuses on helping clients find the finance service suited totheir individual circumstances.It provides its services through its association with the following partners:• Australian Aggregators: a rising company within the aggregation business, with an extensive panel ofresidential and commercial lenders, and asset finance.• ABC General Insurance: a boutique insurance company specialising in a full range of general insurances.• XYZ Life: a small family-owned insurance brokerage specialising in the full range of life insuranceproducts.Based in the city, CCF & MB has the capacity to service clients from their office or anywhere at theirclients’ convenience through its team of mobile brokers.CCF & MB does not hold a credit license but operates as a credit representative of AustralianAggregators.Since its inception 13 years ago, CCF & MB has built a loan book of almost $1.2 billion and averagesover $120 million in new loans annually.CCF & MB’s vision is to be the mortgage and finance broker of choice in the greater metropolitan area.CCF & MB’s mission statement is: ‘to operate professionally in accordance with legislation, our licenceand professional standards’.CCF & MB’s values are as follows:• to act with honesty and integrity at all times• to provide unbiased advice and conduct business, free from any conflict of interest• to maintain confidentiality in all dealings• to meet all NCCP regulatory requirements• to comply with all mortgage industry laws and regulations• to ensure quality and efficiency in its loan processes.CCF & MB’s peopleCCF & MB is owned by husband and wife, George and Mildred Spencer.With over 35 years’ experience in finance and business ownership, George established and built a11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 6/15successful business dedicated to assisting clients with managing their finances effectively. Starting thebusiness with his wife Mildred 13 years ago, George gained immense satisfaction in seeing it expand, toservice more and more clients across the city and greater metropolitan area. Although in recent years hehas stepped back from dealing directly with clients, he still maintains a small select clientele. He alsotakes great pride in training and mentoring his team to enhance their performance.Mildred has over 22 years of lending experience and is qualified, not only to assist her clients with theirmortgage requirements, but also to assist them with their commercial finance requirements. She also holdsfinancial planning qualifications. She specialises in asset finance.The company has a small team of five additional consultants and two administration staff members.Profiles for the team are as follows:• Jennifer Dee is recognised as one of the top female brokers in Australia. She has been in the brokingindustry for over 10 years and has a passion and dedication to assist and accommodate all of her clients’needs with their financial dreams. Jennifer is an Accredited Mortgage Consultant with the Mortgage andFinance Association of Australia (MFAA).• Louise Spencer (George and Mildred’s eldest daughter) is an Accredited Mortgage Consultant with theMortgage and Finance Association of Australia (MFAA) and has been working as a loan consultant foralmost two years. Louise started off in the lending industry in the office as an administrator to gain asmuch experience and knowledge as possible before taking a broking role. Her passion for helping herclients ensures that she is always available to her clients at a time and place convenient for them.• Michael Spencer is George’s younger brother and is CCF & MB’s equipment finance specialist. He hasover 25 years working in the equipment finance industry. He has developed an in-depth understanding ofthe transport and agricultural industries, and also provides finance for general equipment, motor vehiclesand computer equipment.• Martin Long has specialised in equipment finance for the last three years, but prior to this he spent fiveyears operating his own retail food business. This practical experience allows him to see things from hisclient’s point of view, including experience with equipment finance. He specialises in plant and equipmentin the machinery, woodworking and packaging industries. Examples of some of the equipment he hasfinanced are farm machinery, extrusion lines, plastic injection moulders, commercial catering equipment,woodworking plant, packaging lines, forklifts, office fit-outs and many different motor vehicles.• Luis Ramirez migrated to Australia as a young boy; 25 years ago with his family. After completing highschool he graduated from university with an accounting degree and worked in ANZ in commerciallending. He joined CCF & MB four years ago and specialises in vehicle and capital equipment financing.He provides ITC and general equipment lease funding options for clients. By providing better outcomes,both during and at the end of their equipment leases, Luis’ many clients have been able to reduce costsand maximise the value of their available budgets.CCF & MB is a member of the MFAA, as a broking business dealing directly with the public. BothGeorge and Mildred are fellows of the MFAA. CCF & MB is also a corporate member of the FBAA.All staff members, including consultants, are paid an annual salary plus superannuation. Consultants alsoreceive a car allowance plus a percentage of trail commissions, which are paid quarterly based on theirperformance targets.CCF & MB’s panelled lendersWith access to an extensive panel of lenders, CCF & MB can meet most clients’ expectations. Residentiallenders are listed in the following table.Adelaide Bank Homeloans Limited Pepper Home LoansAMP Homeside Phoenix-Circle Credit UnionANZ ING Direct PLAN LendingAustralian Financial Keystart PN BankAustralian First Mortgage La Trobe ResiBank of Melbourne Liberty Financial St George BankBankSA Macquarie SuncorpBankwest ME Bank The Rock Building Society11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 7/15Bluestone Mortgage Mart WestpacCitibank NAB Wide Bay Australia LtdCommonwealth Bank Newcastle PermanentHeritage Bank Peoples Choice Credit UnionCommercial lenders and asset finance providers are listed in the following table.Adelaide Bank Commercial Bibby Financial Services Pty Ltd Liberty Financial CommercialANZ Commercial Commonwealth Bank Commercial NAB CommercialAustralian First Mortgage Commercial IMB Commercial St George CommercialBank SA Commercial ING Direct Commercial Suncorp CommercialBankwest Business Banking LaTrobe Commercial Westpac CommercialAdelaide Bank Commercial Macquarie Leasing Westpac Equipment FinanceANZ Asset Finance Commonwealth Bank Asset Finance Liberty Asset FinanceFuture developmentsGeorge and Mildred are very keen to expand and grow their business and are in the process of speakingwith a number of real estate agents, accountants and legal firms with a view to forming strategic alliances.Due to the expected increase in business, George and Mildred are seeking to employ another consultant totake on the extra work. This person will be required to:• build strategic relationships with a number of real estate agents, accountants and legal firms alreadyidentified• identify and foster relationships with other real estate agents, accountants and legal firms• provide finance and mortgage broking services to new clients identified through these strategic alliances.Business management skillsTask 1 — Developing and nurturing relationships with clients, other professionals and third-party referrersGeorge and Mildred now require you to write a plan to assist in developing and nurturing relationshipswith clients, other professionals and third-party referrers.The layout and content of your plan should address the following:1. How CCF & MB’s policies and procedures and legislative, regulatory and professional codes ofpractice impact on developing and nurturing relationships.2. How you would use CCF & MB’s social, business and ethical standards to develop and maintainpositive relationships.3. The importance of confidentiality and how you would maintain it in your dealings with colleagues,clients and other parties.4. How you would adjust your interpersonal style to the needs and situation of other parties.5. How you would go about developing and maintaining business and professional networks and otherrelationships to benefit the organisation; and how you would use them to identify and cultivaterelationships in order to promote and market the organisation.6. How you could use and cooperate with other professionals and third parties to expand and enhance thereputation of the organisation, and to identify new and improved business practices.7. How you would build referral business through appropriate communication channels, to find and securenew business relationships.8. How you would identify referral needs and provide information about CCF & MB’s relevant productsand services.9. How you would secure interviews with referral business so that the needs of clients can be met.(1,000 words)You may use any format for your plan but you are not permitted to simply answer the points above. If youare unsure as to how to write a plan, you can refer to the Business Growth and Marketing topic and use thesuggested SMEAC format outlined in Part 6, Section 13. You may also refer to the internet for otherexample business or marketing plans.Guidance on how to develop a plan is available at the business.gov.au website:https://www.business.gov.au/planning/templates-and-tools/marketing-plan-template-and-guideWhen completing this task, assumptions are permitted, although they must not be in conflict with the11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 8/15information provided in the background information.Student response to Task 1Answer hereAssessor feedback for Task 1: Resubmission required?NoTask 2 — Growing the businessHaving considered how you would go about building and nurturing relationships, George and Mildrednow require you to turn your attention to marketing and promoting CCF & MB’s business. This requiresyou to develop, implement, monitor and adjust a Marketing Plan for the business. When doing this, youwill need to:• Ensure your plan is developed in line with CCF & MB’s vision statement.• Conduct some research (or make assumptions) and identify key market data for the plan. This caninclude, for example, customer demographics, product types (i.e. census data if available), marketingmedia data (i.e. social media).• Identify of target markets, using a combination of research and your own personal experience.• Identify your major competitors (at least two) with a competitor analysis developed for each competitor.• Conduct a review of CCF & MB’s current market position based on your research findings inconjunction with competitor analysis; and identify where improvements can be made.• Document changes you could introduce to improve the brand of CCF & MB, and what promotionalactivities you could introduce to build the customer base.• The provision of options for increasing yield per existing client.1. To develop and implement the marketing plan, complete the table below:Student response to Task 2 Question 1Implementing the Marketing planTask Steps Required Resources Required Who will complete this Date to Start Date to CompleteAnswer hereAnswer hereAnswer hereAnswer hereAnswer hereAnswer here2. To monitor the marketing plan, complete the table below:Student response to Task 2 Question 2Monitoring the Marketing PlanMarketing plan targets Monitoring process Period one Period two Period three Period four AverageAnswer here Answer here Answer here Answer here Answer here Answer here Answer here3. To make adjustments to the marketing plan, complete the table below:Student response to Task 2 Question 3Adjusting the marketing planIdentified task requiring adjustment Changes requiredAnswer here Answer here(1,000 words)When completing this task, assumptions are permitted although they must not be in conflict with theinformation provided in the background information.NOTE to students: You can add lines to the tables if necessaryAssessor feedback for Task 2: Resubmission required?NoTask 3 — Identifying risk and applying risk management processesGeorge and Mildred have become very concerned about the potential risks that could jeopardiseCCF & MB’s business operations. They were very impressed with your growth and marketing plans forCCF & MB so they have now moved you into more of a general manager’s role with expanded11/22/2019 52302 – Written AssignmentBusiness Management Skills(DIPMB3_AS_v3)Studenthttps://www.australiabesttutors.com/Recent_Question/52302/Written-AssignmentBusiness-Management-Skills-DIPMB3_AS_v3 9/15responsibilities, including managing CCF & MB’s risk.1. As part of your new responsibilities you are required to develop a risk management plan which:• Establishes the context for CCF & MB’s risk management plan.• Lists and explains the tools you will use in assessing the risks you identify.• Identifies the stakeholders you would consult in establishing context and the tools you would use inidentifying CCF & MB’s risks.• Identifies at least two risks that CCF & MB could face for each of the six categories of business riskincluding strategic risks, compliance risks, financial risk, operational risks, market and environmentalrisks 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 inthe body of your plan or separately before you produce it. You are not permitted to simply answer thepoints detailed above.Student response to Task 3: Question 1Answer here2. Refer to the email from co-worker identifying potential risk in the toolbox. Using the box below, writean email to management outlining the identified risk, your analysis, how you would evaluate the risk andsuggest how the risk could be best treated.Student response to Task 3: Question 2Answer here3. Refer to the Risk treatment mapping guide in the toolbox. Using the following steps, complete the Riskevaluation and treatment table below:Step 1. Through analysis, identify the risks CC & MB’s business may face; and complete that column.This is to include both legislative and financial risks.Step 2. By using the Risk treatment mapping guide in the toolbox, appraise the likelihood andconsequence 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 tomanagement.Step 4. Develop recommendations to mitigate identified risks.Step 5. Provide recommendations on how to monitor and review the risks identified.Student response to Task 3: Question 3Answer hereComplete for Task 6: Risk evaluation and treatment mapRisk identified(through analysis) Likelihood(risk evaluation criteria) Consequence Treatment(comment if risk should be escalated to management for supervision) Mitigate identified risks(provide recommendations to mitigate risk) Monitor(include how to be monitored and how often to be reviewed)(Task 3: Questions 1-3, 1,000 words)Assessor feedback for Task 3: Resubmission required?NoTask 4— Improving the businessOver the last few months business for CCF & MB has been very good with a number of new clientscoming on board as a result of implementing your business growth and marketing plans. However, neitheryou or the business owners are satisfied with maintaining the status quo; as you and they are committed toa program of continuous improvement.You all feel that CCF & MB’s competitive advantage needs to be strengthened and a SWOT should beundertaken to establish CCF & MB’s strengths and weaknesses including benchmarking the businessagainst the industry. You now decide that you will carry out a diagnosis of the business including a SWOTanalysis 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

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