Business Skills Report: Client Relations, Risk, and Marketing Strategy

This report provides a detailed analysis of essential business skills, focusing on developing and nurturing client relationships, managing risks, and implementing effective marketing strategies. It examines the impact of organizational policies, ethical standards, and confidentiality on building positive relationships with stakeholders. The report also covers adjusting interpersonal styles, developing professional networks, and leveraging third parties to enhance organizational reputation. Furthermore, it includes a marketing plan analysis for CCF & MB, addressing market analysis, goal setting, strategy outlining, budgeting, and monitoring. A risk management plan is presented, identifying potential risks and outlining mitigation strategies. Desklib offers this report and many other solved assignments to aid students in their studies.

Business skills

Table of Contents
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................4
TASK 3..........................................................................................................................................10
TASK 4..........................................................................................................................................14
TASK 5..........................................................................................................................................17
TASK 7..........................................................................................................................................27
TASK 8..........................................................................................................................................28
REFERENCES..............................................................................................................................30

TASK 1
Plan to assist in developing and nurturing relationships with clients, other professionals and
third-party referrers
How CCF & MB’s policies and procedures and legislative, regulatory and professional
codes of practice impact on developing and nurturing relationships
There are positive as well as negative impacts of organizational policies and procedures along
with the legislations and regulatory professional codes of practices adopted by the company on
developing and nurturing relationships. These are the relationships which are from the internal as
well as the external stakeholders of the company. Positive impact of such professional policies is
the maintenance of decorum in the organization so that the codes of practices can be followed in
order to follow the business ethics. Negative impacts are such that the strictness and policies and
procedures in the organization can reduce the informal communication among employees which
can dissatisfy the staff in the job profile (Topper, 2021).
How CCF & MB’s social, business and ethical standards used to develop and maintain
positive relationships
Organizational social and business along with the ethical standards support in development and
maintenance of the positive relationships among the stakeholders of the company. Such
stakeholders are the employees and leaders along with the managers and board of directors
which is also followed by the suppliers and vendors and also the competitors and customers or
shareholders and many more. There are various instructions which are mentioned in the ethical
standards of business which are also related to the society which is required by the company to
follow because it develops and maintains a positive long-term relationship as they fulfill all the
business ethical standards (Randall, 2018).
The importance of confidentiality and it’s maintenance in dealings with colleagues, clients
and other parties
Confidentiality of the information along with its importance has a significant role while dealing
with the colleagues and clients along with the other parties and many more. This is because it
helps the business in going through the good productivity of the company because employees
follow privacy and importance of the information which has a good flow within an organization.
It helps in good data analysis with better interpretation so that the confidentiality can be
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maintained and businesses can make the strategy according to the privacy of the information
(McGirr, Torres, Heany and Robinson, 2020).
How to adjust the interpersonal style to the needs and situation of other parties
It is important to adjust the interpersonal style with the needs and circumstances of other parties
which are associated with the organization. Sach interpersonal style can be adjusted by analyzing
the risk and performing the risk assessment so that the mitigation can be conducted for better
future analysis and considerations by the company. Interpersonal style of the company
demonstrates the entire workflow and structure the organization is working in order to improve
productivity and to boost the sales and revenue generation. If the interpersonal style is adjusted
with the needs and situation of the other party then the external stakeholders could find the ease
in working with the organization (Xiang, Robinson-Lane, Rosenberg and Alvarez, 2018).
How to develop and maintain business and professional networks and other relationships
to benefit the organisation and how it can be used to identify and cultivate relationships in
order to promote and market the organisation
Development and maintenance of Business and professional networks with the insiders and
outsiders to benefit the organization in such a way by using the online platforms and conducting
the branding promotions with good content and attractive behavior of the post. This benefits the
organization in wider reach to the customers and also helps in identifying and cultivating the
relationships for better promotion and marketing of the organization. It benefits the organization
in good expansion and growth locally as well as internationally also (Massi, Hickey, Maidment
and Kruske, 2021).
How to 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
Organization can use the other professional and third parties if it wants to expand and improve
the reputation of the company for better identification and enhancement of the business practices.
Other professional and third parties help and support in providing the new and innovative ideas
for better growth with the help of brainstorming processes which assist in gathering the creative
thoughts so that the company can implement and monitor the innovation within the organization
(Reamer, 2020).
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How to build referral business through appropriate communication channels, to find and
secure new business relationships
Organizations can build the referral business with the help of proper channels of communication
in order to find and secure new business relationships. This can be done by the company by
simply providing the best services to the existing clients so that they can refer to the other people
for the services and also they can promote online so that new relationships which are created can
be safe and secure and also works in the long term. This supports the organization in broad
networking and new business relationships with different communication channels such as
different social media platforms which is the online communication channel and the organization
can also use the traditional way of communication channel as well (Mehra, Boyd, Lewis and
Cunningham, 2020).
How to identify referral needs and provide information about CCF & MB’s relevant
products and services
Identification of the referral needs and provision of the information about the relevant products
and services of the organization can be performed by simply following some of the steps. For
example the organization must focus on the goals and objectives of the company's so that the
motive of the identification can be clear. Secondly the organization can analyze the business
needs so that the referral needs can be identified and relevant information can be used about the
products and services for better examination of the alternate information. After determining all
such goals and objectives along with the business needs, identification of the referral leaves
becomes easy because proper information is now available which can be used for proper
coordination of the referral needs (Van Staden, Niemann and Meyer, 2020).
How to secure interviews with referral business so that the needs of clients can be met
It is important to meet the needs of the client which can be done by securing the interviews with
the referral business. It is significant for the organization to conduct an appropriate interview
scheduled with the referral business because in the interview the client is comfortable to share
their needs and open to communicate about what exactly the requirement is which can be met
along with the expectations. These are the interviews which must be secure so that the privacy of
this information cannot be disclosed. Private conference rooms and social media platforms must
be confidential in conducting such secure interviews so that the information cannot be leaked out
(Janzer, 2020).
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TASK 2
The CCF & MB’s vision, mission and objectives are discussed below:
Vision: Is to be the mortgage and finance broker of choice in the Greater Metropolitan area.
Mission statement: "To operate professional in accordance with legislation, or our license and
professional standards'
Objective: Mortgage customer experience 10th of December, 2019, in a constantly changing
competitive market, most US mortgage originators have struggled to compete financially. Non-
depository originators have been taking market share from banks, increasing their market share
in the United States from 25% to 50% in the previous ten years.
Question 1
Implementing the Marketing plan
Task Steps Required Resources
Required
Who will
complete
this
Date to
Start
Date to
Complete
Analyse the
market
 Performing the
market research.
 Analysing its
own
competitors.
 Identify the
various strengths
and weaknesses
of particular
business
 Identify and
understand the
potential
customer
requirements
and desires.
Appropriate
information
and data about
respective
organisation’s
competitors,
its strengths &
weaknesses,
customer’s
requirements,
and many
others.
George
Spencer
1/01/2022 30/01/2022
4

Set the goals
and objectives
(Mortgage
customer
experience
10th of
December,
2019, in a
constantly
changing
competitive
market, most
US mortgage
originators
have
struggled to
compete
financially.
Non-
depository
originators
have been
taking market
share from
banks,
increasing
their market
share in the
United States
from 25% to
 Determining the
key business
goals.
 Business size
 Expansion plans
 Development of
SMART
objectives
Effective
teams and
proper
planning.
Louise
Spencer
01/02/2022 15/02/2022
5

50% in the
previous ten
years)
Outline the
marketing
strategies
 Choosing
various
procedures.
 Formulation of
effective pricing
strategy
 Performing
different market
activities.
Human
resources that
have
appropriate
understandings
about the
services they
are providing
within
markets.
Michael
Spencer
16/02/2022 28/02/2022
Set the
marketing
Budget
 Accurate
calculation of
marketing
campaign
 Money should
be spent upon
those activities
that contributes
towards their
present
marketing
objectives
Human
resources and
financial
resources
which having
knowledge
about the
particular
expenses and
effective
monetary
activities.
Michael
Spencer
01/03/2022 10/03/2022
Keep the
marketing
plan up to
date
 Evaluation of
different
marketing
activities
 Evaluating their
Information
and reviewing
the whole
marketing
plans. So, in
Jennifer
Louie
Spencer
Martin &
Luis
11/03/2022 25/03/2022
6

outcomes
 Aware about the
new marketing
trends
this the
resources
required are
human
resources
which are
stakeholders,
marketing
manager,
owners and
others.
Ramirez
Question 2
Monitoring the Marketing Plan
Marketing
plan
targets
Monitoring
process
Period
one
Period
two
Period
three
Period
four
Average
Check for
changes in
sales
As the goals of
marketing plan
is to enhance
the business
and sales, it is
essential for
them to utilise
the numbers to
evaluates their
campaigns to
impact
customers
behaviours.
For instance,
1 st quater 2nd quater 3 rd
quater
4 th quater 12 months
7

they have to
seek at its sales
before
marketing
campaign,
Observing
the
progress
Marketing may
be utilised for
supporting its
whole business
goals, so this is
helpful to
observe the
progress. for
instance at
continuous
intervals,
perform a
evaluation of
every and each
task. in case
they identify
those progress
in which one is
slow than
others.
1 st quater 2nd quater 3 rd
quater
4 th quater 12 months
Compare
the strategy
with
competitors
In case
respective
organisation is
using same
strategies as
like its
1 st quater 2nd quater 3rd quater 4 th quater 12 months
8

competitors, so
they have to
compare that to
identify the
differences in
quality,
responses,
frequency and
others. Also,
they have to
note the
number of
places rivals
advertisements.
Evaluate
the return
on
investment
Even if the
strategies of
marketing are
helpful for
attaining their
firm
objectives, it
might be
unstable. in
case they may
cost above it
develops.
Additionally,
they should
also have to
compute the
cost of all
1 st quater 2nd quater 3rd quater 4 th quater 12 months
9

activities.
thereafter,
evaluates the
cost against
their business
activities for
determining
the return on
investments.
Question 3
Adjusting the marketing plan
Identified task
requiring adjustment
Changes required
Budget This task required to be adjusting as there different activities which
are performing may be high. So, it is essential or respective
organisation to adjust their initial budgets.
Marketing strategies The some of the marketing strategies have to be adjusted as during
monitoring the marketing it has ben analysed that some of the tactics
are not efficient for the respective business plans implementation. So,
it has to be adjusted with some effective one in order to attain their
business objective in effective and efficient way.
TASK 3
Question 1:
RISK MANAGEMENT PLAN
Risk management plan is considered as the framework for actions which required being
undertaken. Additionally, it is helpful to firms to determine the risk and also assists them to
brainstorm and various risks that have impacts on business. Moreover, there are mainly five steps
that are effective for managing the risks. All steps are discussed below in respect of growing
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