BSBWOR501 manage personal work priorities and professional development

Added on - 30 Oct 2019

Transformational Leadership Style

We will establish personal work goals. In your opinion what leadership styles do you believe are the most appropriate for your business? How you manage your personal work priorities and personal professional development in your workplace? Explain the steps in a performance appraisal process and then identify what a performance appraisal might review? The strategic plan may include the desired market position to improve in order to be the top brokerage firm in the location.

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Running head: BSBWOR501 FMB ASSESSMENT1BSBWOR501 FMB AssessmentName of StudentName of Institution
BSBWOR501 FMB ASSESSMENT2Complete the following tasks:Task 1: Short Answers – Establish personal work goals1.In your opinion what leadership style/s do you believe is the most appropriate for yourbusiness? The transformational leadership style would be the most appropriate as a broker.This is because the brokerage business is relational and fits with this style which is based onrelationship theory.2.What ethical behaviours should you demonstrate if you want to be a positive role model? Theethical behaviour includes being considerate when making decisions and factoring theinterests of those concerned. Treating people equally coupled with open communication thatis honest and truthful is equally important as a role model.3.a. Name a goal that you must be able to achieve as a Broker? To increase the volumes ofcommission earned per transaction and aggregated through different transaction typesb. Now write this goal as a SMARTER goal, using the table below to assist you.SpecificTo increase the commission volume in small listings whereI have been performing poorlyMeasurableTon increase the commission from AU$3,000 TOAU$10,000AchievableAchievable within the boundaries of industry standards andearnings. Target to earn cumulative totals of AU$ 3500 by thesixth month.RealisticRealistic as it breaks down to AU$ 600 every month inincremental commission earningsTime-basedTo be realized over the course of 12 monthsEthicalTo be aggressive yet ethical so as not to trespass theprofessional boundary expected of a broker.Reward/Re-evaluateWeekly evaluation in terms of new clients with smalllistings I have interacted with and engaged with the aim ofclosing the transaction.4.Personal plans should align with team and organisational plans. Using your SMARTERgoal, explain what each of the following plans might include. For example, if your smartergoal is to learn new sales skills to improve your sales by 1% by the end of 2016 to meet yourorganisational objectives, your tactical goal may be to attend training and the Strategic Goalmay be to improve sales by 10% by 2018.
BSBWOR501 FMB ASSESSMENT3Strategic planThe strategic plan may include the desired market position toimprove in order to be the top brokerage firm in the location. Theplan may span two to five years. It may extend to increasing clientnumbers by a certain percentage, have more repeat clients, andprovide the best service to clients.Tactical planThe tactical plan may include to ensure that all brokers attaina certain level of training and certification. This may be undertakenby the human resources department in in-house training or withoutside institutions.Operational PlanThis may be set out as accountabilities and responsibilitiesexpected an d are set out by team managers within brokerage teams.This may be in the form of description of position and dutystatements of each broker.5.Explain the steps in a performance appraisal process and then identify what a performanceappraisal might review? The steps of the performance appraisal process include: establishingthe expected standards of performance and then communicating the set out expectations andstandards. Performance is then measured in quantifiable terms and compared with theorganizational standards. The results obtained are then discussed with the aim of obtainingfeedback which is documented for future reference. Action that is corrective completes theprocess of performance appraisal.The performance appraisal reviews three key areas of the employee. The first is the workperformance, followed by the review in the working relationships with other employees. Thelast review focuses on the basic skills expected of the job and whether the employee isconversant or not.Task 2: Short Answers – Set and meet own work priorities1.Using your understanding of your job description or feedback from arecent performance appraisal, select eight tasks that you believe you canuse to improve your productivity and list them in the priority matrix.
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Manage personal and professional development

The results supported how you manage your personal work priorities and professional developmentin your workplace. Maintaining an appropriate work-life balance and ensure stress. Finding out which leadership style/s is the most appropriate for business. The transformational leadership style would be the most appropriate as a broker. This is because the brokerage business is relational and fits with this style which is based on relationship theory. Ethical behaviour includes being considerate when making decisions and factoring in the interests of those concerned. Application of SMARTER goals to ensure personal work plans are aligned with organizational goals.