Analysis of Consumer Services, Communication, and Regulations

This report delves into the multifaceted realm of consumer services, examining the critical role of effective communication in fostering customer satisfaction. It explores internal organizational behaviors, emphasizing the importance of sharing experiences among staff to enhance service delivery. The report outlines various methods for improving communication techniques, including surveys and feedback mechanisms, to understand consumer preferences and adapt to current trends. It also highlights the significance of business regulations, such as the National Consumer Credit Protection Act, and provides a guide to consumer services, emphasizing the need to identify consumer desires, assess urgency, and prioritize service delivery. Further, the report addresses the objectives of mortgage brokers, personality types, and strategies for establishing successful networks, along with the interrelation of financial service sectors and the promotion of environmental sustainability. Additionally, the report includes requirements for ACL applications, website analysis of banks, borrowing capacity calculations, and discussions on employability skills, all supported by cited references.

EXERCISE 4

TABLE OF CONTENTS
QUESTIONS...................................................................................................................................1
1. Importance of communication delivery for consumers satisfaction...................................1
2. Internal organisational behaviour which originate from staff about sharing experiences..1
3. Organisation can improve the communication techniques through various methods........2
4. Importance of laws in regulating the business...................................................................2
5. Guide related with consumer services................................................................................2
6. Recommendation regarding improvements in consumer services.....................................3
7 Related with Unit 11 Objectives of the mortgage broker....................................................3
8 Information related with Unit 12 four main personality types............................................3
9. As per unit 12 five points for establishing the successful network....................................3
10. In accordance with unit 4 four sectors of financial services, ways in which they interrelate
................................................................................................................................................4
11. Five things which make more environmental sustainability...........................................4
12. Requirement of 10 documents for ACL application........................................................4
13. Visiting four banks websites and their key feature related with loans.............................4
14. Calculating the borrowing capacity..................................................................................5
15. Employability Skills and talent........................................................................................5
REFERENCES................................................................................................................................6

QUESTIONS
1. Importance of communication delivery for consumers satisfaction
For an effective business operation in the competitive world there is need to concerned
about consumers satisfaction (Kurtz, Silverman and Draper, 2016). There can be use of various
techniques of methods in which a unit as well as an individual can provide satisfactory services
to buyers such as:
 Better communication will help the organisation in understanding or collecting
information related with consumer preferences.
 Communication skills helps consumers in getting all the information related with the
features of such product or services.
 Professionals of the organisation can easily fetch needs or requirements of buyers and
help them in having their desired services.
 It will be fruitful for the business unit in making the favourable contact with clients on
long term basis.
 There will be better harmony at workplace that, there will be better improvements in
consumer satisfaction.
2. Internal organisational behaviour which originate from staff about sharing experiences
Communication barrier will lead an organisation to the down fall as well as there will be
poor performance and non-satisfactory services are provided to consumers (Pinder, 2014). There
have been various kinds of behavioural competencies which are need to be adopted by the
internal unit.
 It helps organisation in building up adaptability and decisiveness which bring confidence
in staff to make the best efforts.
 It develops the personal skills of employees as well as brings ability to initiate the work.
 There will be improvements in organisational skills as well as performances, essential as
well as fruitful efforts were being taken by the entity as to bring proper satisfaction to
buyers.
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3. Organisation can improve the communication techniques through various methods
There will be favourable improvements in work performance and enhancement of efforts
make by employees with the help of fetching information (DiPaola and Tschannen-Moran,
2014). There must be use of survey methods such as direct interactions with the buyers as well as
questionnaire must be asked. It helps in gathering the information related with consumers
choices, preferences as well as update the organisation as per the current trend. However, apart
from these they must collect feedbacks from buyers as to have the positive or negative responses
over the product or services is being delivered to them.
4. Importance of laws in regulating the business
For regulating organisational operations there must be implication of several laws or
regulation which help individual to perform in a legal manner. There can be use of various laws
such as:
 National consumer credit protection act, 2013
 Trade practices act, 1974
 Franchising code of conduct
 Australian credit license
 Privacy act,1988
5. Guide related with consumer services
To provide the fruitful service to consumers there is need to follow such techniques
which helps and organisation in making the effective communication with it buyers.
 Identifying consumer desire as well as expectations
 Assessing the urgency of request as well as delivery of effective product or
services to consumers.
 Organisation need to determine priorities for service delivery
 Informing consumers of possible choices as well as there must be selection of
preferred choices
 Actions related with Consumer needs as well as their appropriate assistance
 Business must bring Promptness in delivering services to consumers and
maintaining the established rapport
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 Actions must be taken against complaints as well as improvements in the
consumer’s services as according to feedbacks
 Assistance to specific need as well as facilitate Cross- selling opportunities and
they must review buyer's satisfaction.
6. Recommendation regarding improvements in consumer services
Professionals of organisation must seek expectations of their buyers with the help of
effective communication (Lerch and et.al., 2014). They must take feedbacks and reviews on
products or services which are delivered to them which help in making improvements.
7 Related with Unit 11 Objectives of the mortgage broker
There are the three main objectives of Loan broker in the banks such as:
 Sincere objections
 Irrelevant objections
 Hidden objections
8 Information related with Unit 12 four main personality types
Every individual has their own referent characteristics which can be differentiated as per
the four main characteristics such as:
 Supportive
 Dominant
 Controlling
 Influencing
9. As per unit 12 five points for establishing the successful network
Commination is the best medium to deliver thoughts by expressing through words or
various methods (Mahmoud and Mohamad, 2016). There is need to establish a favourable
network in such as:
 “Hit-list” must be designed.
 Existing network must be listed
 Accessing the network opportunities
 Trail meeting and network functions must be attained by brokers
 Regular attendances based on commitments.
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10. In accordance with unit 4 four sectors of financial services, ways in which they interrelate
There are four sectors in which financial sectors can interrelate such as:
 Insurance services
 Financial transactions
 Facilitating loans
 Obtaining the trade license
11. Five things which make more environmental sustainability
Things which help in building the sustainability in business environment such as:
 Effective communication with internal as well as external business.
 Improvements in work performance as well as designing service as per requirements.
 Better financial control as well as effective decision making
 Development of better network.
12. Requirement of 10 documents for ACL application
There can be requirements of 10 documents which need to be attached while applying the
ACL:
 Risk management system
 Human resource policy
 Complaints plan
 Financial resources policy
 Conflicts management systems and arrangements
 Compensation arrangement
 Outsourcing process
 IT resources policy
 Training and supervision
 Conflict resolution
13. Visiting four banks websites and their key feature related with loans
AMP Limited bank- Education loan, Home loan
ANZ bank- Personal and industrial loans
Hume bank- Financial planning
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Bank of Melbourne- personal loans
14. Calculating the borrowing capacity
Borrowing capacity
Particulars amount
gross monthly salary
Mr. X 8750
Mrs X 3916.7
Total monthly income 12666.7
Less personal loan 600
less credit card (3% pm) 300
Total monthly cost 900
Funds available (12666.7-900) 11766.7
monthly repayment (7%&25 years) 7.07
Qualifying payment 1664.3
Borrowing capacity 998585.6
15. Employability Skills and talent
Techniques must be used to improve the skills of employees such as:
 Prompt problem solving
 Effective communications
 Better team work
 Effective planning and controlling
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REFERENCES
Books and Journals
DiPaola, M. and Tschannen-Moran, M., 2014. Organizational citizenship behavior in schools
and its relationship to school climate. Journal of School Leadership, 11(5), pp.424-447.
Kurtz, S., Silverman, J. and Draper, J., 2016. Teaching and learning communication skills in
medicine. CRC press.
Lerch, M., and et.al., 2014. THE VIENNA MIMO TESTBED: EVALUATION OF FUTURE
MOBILE COMMUNICATION TECHNIQUES. Intel Technology Journal. 18(3).
Mahmoud, M. S. and Mohamad, A. A., 2016. A study of efficient power consumption wireless
communication techniques/modules for internet of things (IoT) applications. Advances in
Internet of Things. 6(02). p.19.
Miner, J. B., 2015. Organizational behavior 1: Essential theories of motivation and leadership.
Routledge.
Pinder, C. C., 2014. Work motivation in organizational behavior. Psychology Press.
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