DIPMB3_AS_v2: A Comprehensive Business Management Skills Project

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Written Assignment
Business Management Skills
(DIPMB3_AS_v2)
Student identification (student to complete)
Please complete the fields shaded grey.
Student number
Written Assignment result (assessor to complete)
Result — first submission (Details for each activity are shown in the table below)
Parts that must be resubmitted:
Result — resubmission (if applicable)
Result summary (assessor to complete)
First submission Resubmission (if required)
Task 1 Demonstrated Demonstrated
Task 2 Demonstrated Demonstrated
Task 3 Demonstrated Demonstrated
Task 4 Demonstrated Demonstrated
Task 5 Demonstrated Demonstrated
Task 6 Demonstrated Demonstrated
Feedback (assessor to complete)
[insert assessor feedback]
DIPMB3_AS_v2

Before you begin
Read everything in this document before you start your written assignment for Business Management Skills
(DIPMB3_AS_v2).
About this document
This 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-party referrers
• 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
How to use the study plan
We recommend that you use the study plan for this subject to help you manage your time to complete
the assignment within your enrolment period. Your study plan is in the KapLearn Business Management
Skills (DIPMB3v2) subject room.
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Instructions for completing and submitting this written
assignment
Saving your work
Download this document to your desktop, type your answers in the spaces provided and save your work
regularly.
• 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_v2_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 everything is
clear and unambiguous.
Submitting the written assignment
Only Microsoft Office compatible written assignments submitted in the template file will be accepted for
marking 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 written
assignment 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 have
completed all parts and have prepared a quality submission.
Please refer to the Assignment submission/resubmission instructions (pdf) in the Assessment section of
KapLearn for details on how to submit 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 process
You 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 Competent in one or
more assessment items, then an additional 4 weeks will be granted, provided you attempted all assessment
tasks during the initial enrolment period.
Your assessor will mark your written and oral assignment and return it to you in the Business Management
Skills (DIPMB3v2) subject room in KapLearn under the ‘Assessment’ tab.
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Word count
The word count shown with each question is indicative only. You will not be penalised for exceeding
the suggested word count. Please do not include additional information which is outside the scope of
the question.
Additional research
When completing this assignment, assumptions are permitted although they must not be in conflict with
the information provided in the Case Study.
You may also be required to source additional information from other organisations in the finance industry
to find the right products or services to meet your client’s requirements, or to calculate any service fees
that may be applicable.
Make a reasonable attempt
You must demonstrate that you have made a reasonable attempt to answer all of the questions in
your written 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 submission
deadline to submit your completed written and oral assignment.
How your written assignment is graded
Assignment tasks are used to determine your ‘competence’ in demonstrating the required knowledge
and/or skills for each subject. As a result, you will be graded as either competent or not yet competent.
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 you
have demonstrated competence in each question.
• Determine if, on a holistic basis, your responses to the questions have demonstrated overall
competence.
You must be deemed competent in all assessment items in order to be awarded your qualification,
including demonstrating competency in:
• all of the exam questions
• the written and oral assignment.
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‘Not yet competent’ and resubmissions
Should sections of your assignment be marked as ‘not yet competent’ you will be given an additional
opportunity 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 those sections
where the assessor has determined you are ‘not yet competent’.
Make changes to your original submission. Use a different text colour for your resubmission. Your assessor
will be in a better position to gauge the quality and nature of your changes. Ensure you leave your first
assessor’s comments in your assignment, so your second assessor can see the instructions that were
originally provided for you. Do not change any comments made by a Kaplan assessor.
Units of competency
This written assignment is your opportunity to demonstrate your competency against these units:
Unit code Unit name
BSBRSK401 Identify risk and apply risk management processes
FNSPRM603 Grow the practice
BSBMGT502 Manage people performance
BSBMGT401 Show leadership in the workplace
FNSRSK502 Assess risks
Note that the Written and Oral Assignment is one of two assessments required to meet the requirements
of the units of competency.
We are here to help
If 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 our
technical advisers or student support staff.
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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 good
fit for the team. They now want you to turn your focus to your primary task, which is to assist in expanding
the business by building relationships with selected real estate agents, accountants and legal firms through
strategic alliances. They also want you to consider how CCF & MB can consolidate its relationships 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 business and
private sectors, with experience in all facets of finance and insurance, providing expert advice covering a
multitude of products and options existing within the market.
CCF & MB specialises in home loans, commercial lending, business lending, personal and motor vehicle
finance and insurance (life and general), and focuses on helping clients find the finance service suited to
their 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 of
residential 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 insurance
products.
Based in the city, CCF & MB has the capacity to service clients from their office or anywhere at their clients’
convenience through its team of mobile brokers.
CCF & MB does not hold a credit license but operates as a credit representative of Australian Aggregators.
Since its inception 13 years ago, CCF & MB has built a loan book of almost $1.2 billion and averages over
$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 licence and
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.
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CCF & MB’s people
CCF & 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 a successful
business dedicated to assisting clients with managing their finances effectively. Starting the business with
his wife Mildred 13 years ago, George gained immense satisfaction in seeing it expand, to service more and
more clients across the city and greater metropolitan area. Although in recent years he has stepped back
from dealing directly with clients, he still maintains a small select clientele. He also takes 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 their
mortgage requirements, but also to assist them with their commercial finance requirements. She also holds
financial 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 broking
industry 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 and
Finance Association of Australia (MFAA).
• Louise Spencer (George and Mildred’s eldest daughter) is an Accredited Mortgage Consultant with the
Mortgage and Finance Association of Australia (MFAA) and has been working as a loan consultant for
almost two years. Louise started off in the lending industry in the office as an administrator to gain as
much experience and knowledge as possible before taking a broking role. Her passion for helping her
clients 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 has
over 25 years working in the equipment finance industry. He has developed an in-depth understanding
of the transport and agricultural industries, and also provides finance for general equipment,
motor vehicles and computer equipment.
• Martin Long has specialised in equipment finance for the last three years, but prior to this he spent
five years operating his own retail food business. This practical experience allows him to see things from
his client’s point of view, including experience with equipment finance. He specialises in plant and
equipment in the machinery, woodworking and packaging industries. Examples of some of the
equipment he has financed 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
high school he graduated from university with an accounting degree and worked in ANZ in commercial
lending. 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 costs
and maximise the value of their available budgets.
CCF & MB is a member of the MFAA, as a broking business dealing directly with the public. Both George
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 also
receive a car allowance plus a percentage of trail commissions, which are paid quarterly based on their
performance targets.
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CCF & MB’s panelled lenders
With access to an extensive panel of lenders, CCF & MB can meet most clients’ expectations.
Residential lenders are listed in the following table.
Adelaide Bank Homeloans Limited Pepper Home Loans
AMP Homeside Phoenix-Circle Credit Union
ANZ ING Direct PLAN Lending
Australian Financial Keystart PN Bank
Australian First Mortgage La Trobe Resi
Bank of Melbourne Liberty Financial St George Bank
BankSA Macquarie Suncorp
Bankwest ME Bank The Rock Building Society
Bluestone Mortgage Mart Westpac
Citibank NAB Wide Bay Australia Ltd
Commonwealth Bank Newcastle Permanent
Heritage Bank Peoples Choice Credit Union
Commercial lenders and asset finance providers are listed in the following table.
Adelaide Bank Commercial Bibby Financial Services Pty Ltd Liberty Financial Commercial
ANZ Commercial Commonwealth Bank Commercial NAB Commercial
Australian First Mortgage Commercial IMB Commercial St George Commercial
Bank SA Commercial ING Direct Commercial Suncorp Commercial
Bankwest Business Banking LaTrobe Commercial Westpac Commercial
Adelaide Bank Commercial Macquarie Leasing Westpac Equipment Finance
ANZ Asset Finance Commonwealth Bank Asset Finance Liberty Asset Finance
Future developments
George and Mildred are very keen to expand and grow their business and are in the process of speaking
with 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 to
take on the extra work. This person will be required to:
• build strategic relationships with a number of real estate agents, accountants and legal firms already
identified
• 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.
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Business management skills
Task 1 — Developing and nurturing relationships with clients,
other professionals and third-party referrers
George and Mildred now require you to write a plan to assist in developing and nurturing relationships
with clients, other professionals and third-party referrers.
Your plan should address the following:
1. How CCF & MB’s policies and procedures and legislative, regulatory and professional codes of practice
impact on developing and nurturing relationships.
2. How you would use CCF & MB’s social, business and ethical standards to develop and maintain positive
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 other
relationships to benefit the organisation; and how you would use them to identify and cultivate
relationships 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 the
reputation 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 secure
new business relationships.
8. How you would identify referral needs and provide information about CCF & MB’s relevant products
and 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 you
are unsure as to how to write a plan, you can refer to the Business Growth and Marketing topic and use the
suggested SMEAC format outlined in Part 6, Section 13. Remember also the SMART principles.
When completing this task, assumptions are permitted although they must not be in conflict with the
information provided in the background information.
Student response to Task 1
In this section a plan will be written that will support well in nurturing and developing relationships with the
third part referrers, other professionals and clients. A plan will make inclusion of various things which can
be defined as follows:
Situation /Background There is the development of the here which will be very supportive regarding
the development and nurturing of the relationship with the clients. CCF and
MB will make use of this plan in order to develop the good relationship.
Policies, procedures and code of practice of the company supports well in the
development of the good relationship with the clients. CCF and MB is having
specialisation in the business lending, home loans, personal and motor vehicle
insurance and finance and commercial lending and have full focus to give
proper support to the clients in finding out the service which will best suit to
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them. This thing assists them well in developing relation with the clients.
Apart from this they also provide effective service to their clients in anywhere
in the world and due to this convenience they get attracted more and more.
As per the company’s professional code of practice they want to operate
professionally in relation with the legislation, professional standards and
licence. Some of the regulatory policies of the company like acting with
integrity and honesty, provision of unbiased advice, maintenance of
confidentiality, use of NCCP regulatory needs and compliance with regulations
and laws of mortgage industry.
Mission Aim/ Purpose Purpose of the CCF and MB is to be the finance and mortgage broker of the
choice in the great metropolitan area. They also have their mission statement,
according to which they needs to make operations in a professional manner in
relation with licence, legislation and the different standards.
The company’s ethical, business as well social standards supports well in the
development of the good relationship with the clients. They also maintain
confidentiality of the customer and client’s information due to which there is
increase in their trust and loyalty and this is the reason they wants to fulfil
their needs regarding broking with the help of CCF and MB. Ethical standards
of the company like to work with integrity and honesty each and every time
will also be supportive in nurturing the relationship with clients.
Execution The defined mission of the company that is to work in collaboration with the
licence, professional standards and legislation will be the things which will
support the organisation to have effective relationship with the customers in
an appropriate manner. With the help of the Australian Consumer Law,
encouragement of the ethical and fair competition will be there and this will
also give protection to the consumers from the different practices of business.
This act is very beneficial for the financial institutions and covers several
things like there will be no deceptive or misleading conduct, unconscionable
conduct, coercion and harassment, false representation and exclusive dealing.
By following the Australian Consumer Law, organisation can gain trust of
customers and this will eventually develop effective relationships.
There is one another legislation also that is anti-discrimination act and code of
practices will also be helpful for the CCF and MB to nurture relationship with
the customers. Code of practice helps well in making description of the
unacceptable and acceptable behaviour, promote high standard practices,
and make provision of the benchmark for the members, establishment of the
framework regarding professional responsibilities and behaviour.
Maintenance and development of the business relationship is very necessary
for the success and growth of the business. In order to build the business, CCF
and MB rely on the local and satisfied client base that is having the willingness
to make provision of the referrals and recommendations.
Administration In order to carry out the business in an appropriate manner, there is the need
of various resources. These resources will also be helpful in the development
of the new relationships and in building the referral business with the help of
communication channel. CCF and MB is having the list of panelled lenders and
with the help of them they can meet the expectations of the client. The
organisation is also having the team of administration and staff members with
the support of whom they fulfil requirements and needs of customers in a
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proper manner.
Command CCF and MB has the appropriate code of conduct with the help of which they
communicated with the employees and the customers and develop good
relationship with them. They make provision of the ethical framework
regarding the decisions of the organisation. Apart from this guidance is also
being provided by them to the staff regarding handling of the situation that
occurs in a frequent manner. Company also defines the unacceptable and
acceptable behaviour and encourage positive culture in the organisation that
helps in the development of the healthy work environment.
Assessor feedback for Task 1: Resubmission required?
No
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Task 2 — Growing the business
Having considered how you would go about building and nurturing relationships, George and Mildred now
require you to turn your attention to marketing and promoting CCF & MB’s business. This requires you to
develop a marketing plan for the business.
In developing your marketing plan you should consider the following:
1. Your plan should be developed in line with CCF & MB’s vision statement.
2. The identification of target markets, using a combination of research and your own personal experience.
3. The identification of your major competitors (at least two) with a competitor analysis developed for
each competitor.
4. The identification of CCF & MB’s market position, based on your research findings and analysis.
5. How you would promote CCF & MB’s brand and the tools you would use to achieve this.
6. The provision of options for increasing yield per existing client.
7. How you would implement your plan and monitor it to ensure objectives/goals/performance indicators
are being met.
8. How you would adjust your plan if required.
(1,000 words)
You may use any format for your plan but 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 Marketing topic and use the
suggested SMEAC format outlined in Part 6, Section 13. Remember also the SMART principles.
When completing this task, assumptions are permitted although they must not be in conflict with the
information provided in the background information.
Student response to Task 2
Marketing Plan
Vision Statement: The vision of Capital City Finance and Mortgage Brokers (CCF & MB) is to be the
mortgage and finance broker of choice in the greater metropolitan area.
Mission Statement: The mission of Capital City Finance and Mortgage Brokers is to work proficiently in
agreement with legislation, licence and qualified standards’.
Target Market: Identification of target market is very important for an organisation to sell its offerings in a
better manner. The identification of the target market helps in the tailoring of the services according to the
needs of the ultimate customers. The target market of Capital City Finance and Mortgage Brokers are the
people, businesses and institutions having varied financial needs. The business lends finances to the
businesses houses that are in need of money. The organisation also provides loans to the households
having different financial needs in different circumstances. The target market of the company has been
identified by the utilization of market segmentation tool (Xu, et. al., 2016). The market segmentation tool is
the tool in which the whole market is divided into smaller parts and the needs and demands of each
segment is analysed and the services offered are then tailored in accordance with the needs of the market
segments. The market segmentation can be done on the basis of geographical area or types of financial
needs or on the basis of the area of operations of the target clients.
The identification of the target market is also done by analysing the market competition. The target market
has been identified by looking at the competitors strategies to identify the target market. This is also
helpful in framing further strategies for the business. The marker positioning of the competitors also assist
in the proper identification of the appropriate target market for the organisation. The identification of the
target market for Capital City Finance and Mortgage Brokers has been also done by the primary research
conducted by the organisation. The primary research helps the organization to know about the various
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