DFMB3ASv1: Business Management Skills Report for Finance Company

This report, focusing on business management skills, presents a detailed analysis of growth plans and promotional strategies for Capital City Finance and Mortgage Brokers (CCF & MB). It includes two distinct growth plans, emphasizing relationship development with existing and potential clients, outlining objectives, success indicators, essential policies, market research, action plans, and resource requirements. The report further delves into promotional strategies, encompassing industry and market research, competitor analysis, and the promotion of financial services. The report addresses various tasks, including improving business operations and managing team effectiveness and performance. It also covers topics like organizing events for employees, seeking support for charity, and assessing team performance. The report concludes with an examination of specific questions related to business management.

Business Management Skills
DFMB3ASv1

TABLE OF CONTENTS
TABLE OF CONTENTS..............................................................................................................2
TASK 1............................................................................................................................................4
Writing the two growth plan.......................................................................................................4
TASK 2............................................................................................................................................7
Task 2: Question 2....................................................................................................................11
Task 2: Question 3....................................................................................................................12
Task 2: Question 4....................................................................................................................14
TASK 3..........................................................................................................................................15
question 1..................................................................................................................................15
question 2..................................................................................................................................17
Question 4.................................................................................................................................19
Task 4 — Improving the business.................................................................................................20
Task 5 — Managing team effectiveness and performance............................................................24
Question 1.................................................................................................................................24
Question 2.................................................................................................................................25
Question 3.................................................................................................................................25
Question 4.................................................................................................................................26
For this the colleagues will be asked to organise the events for other employees and also
seek support for charity and also for non- business purpose..................................................26
Question 5.................................................................................................................................26
Question 6.................................................................................................................................27
: Question 7...............................................................................................................................27
Question 8.................................................................................................................................27
Task 6:............................................................................................................................................28
Question 1.................................................................................................................................28
Question 2.................................................................................................................................28
Question 3.................................................................................................................................29
Question 4.................................................................................................................................29

Question 5.................................................................................................................................30
Question 6.................................................................................................................................30
Question 7.................................................................................................................................30
Question 8.................................................................................................................................31
Question 9.................................................................................................................................31
TASK 7..........................................................................................................................................33
Question 1.................................................................................................................................33
question 2..................................................................................................................................33
Question 3.................................................................................................................................34
Question 4.................................................................................................................................34
Question 5.................................................................................................................................35
Question 6.................................................................................................................................36
Question 7.................................................................................................................................36
Question 8.................................................................................................................................37

TASK 1
Writing the two growth plan
Growth Plan 1
Background
in the present growth plan the major focus of the company will be on the development of the relationship
with the people which already related to the company. this simply involves the existing real estate agents,
accountant and legal firms which are already connected with the company. The maintenance of good
relation is very important for the company because in case clients will not be happy and satisfied then this
will be affecting the working efficiency of the company that is Capital City Finance and Mortgage Brokers
(CCF & MB).
Vision statement
The vision is the statement which outlines the future prospect on which company lay focus in order to
improve the business. The vision of the Capital City Finance and Mortgage Brokers (CCF & MB) involves
becoming the best choice for the consumer for lending and broking services.
Objective/s of the organisation
the objective of the company is to increase the sales of the company and to increase the number of clients
in order to improve the performance and profitability of the company. this is the most common objective
because it will be including a focus on increasing the sales which in turn will increase the overall
profitability of the company.
Objective/s of the growth plan. What will be the success indicators?
the objective for this particular growth plan is to work in improvising the relation with the existing lenders
and people within the company. already there are many existing lenders which exist with Capital City
Finance and Mortgage Brokers (CCF & MB) and good relation need to be maintained with them so that
they do not shift to any different company.
Essential policies and procedures
There are different types of the policies and procedure which need to be followed in order to maintain
good relation with existing consumers.
The first policy relates to the communication with these parties so that there is not any issue. The clear and
effective communication will result in better motivation to other clients to communicate with company.
in addition to this another policy relating to the maintenance of good relation with the client and other
consumer is to be stay humble. This is because of the reason that when the Capital City Finance and
Mortgage Brokers (CCF & MB) will be humble with the client then this will motivate them to work in better
and effective manner. this is very necessary for the reason that when the company will be kind and
generous then this will attract the consumer to remain in contact with the company for longer.

Market research
The market research involves the analysis of the market in order to evaluate the latest trends present
within the market relating to maintaining good relation with others. there are many different methods and
tools which are assistive in order to improve the working of company.
Relationships (maintain, strengthen, grow) and appropriate growth targets. Prioritise the
relationships.
The maintenance of relation with panelled lender it good and need to be strengthen. Hence, for this it is
necessary that there must be increase in sales by 5 % from the panelled lenders.
Along with this the relationship with commercial lenders and asset finance need to be improved as these
are less.
Action Plan (repeat as required)
Due Date Task Task Owner Resources required
25/05/2022 the task is to increase the
sales by 5 % from
panelled lender
top management of
company
resource required is the
effective marketing and
communication tools
26/05/2022 try to improve relation
with commercial
lenders
management of company effective communication
strategy
Funding required
the funding required for this growth plan is high as the marketing and communication technology need to
be used in order to attract and maintain good relation with existing and new consumers. the funds required
will be approximately AUD300.
Work practices review (What supports the plan and what might need to change)
For the work to be completed in proper manner it is very necessary for the company to use the proper
work practice so that proper and cordial relation are being maintained.
Who will need to be consulted during implementation?
for this top management need to be consulted
How will you monitor the implementation and adjust as required?
For monitoring of the plan the use of benchmarking will be applied.

Growth Plan 2
Background
In this present case the Capital City Finance and Mortgage Brokers is planning to build good relation with
the potential clients who are not connected with the company till now and might get connected in future.
Vision (how you developed, reviewed and finalised the vision)
The vision of the company is developing good relation with the potential and new budding agents and the
lenders with the company.
Objective/s of the organisation
The objective of the company Capital City Finance and Mortgage Brokers is to attract large number of new
consumer or the client in order to improve the efficiency of the business as well.
Objective/s of the growth plan. What will be the success indicators?
This growth plan has the following objectives-
To increase the number of new lenders and clients by at least 20 % in the first month of year.
To increase the sales by at least 13 %.
Essential policies and procedures
The policy will be involving relating to effective marketing of the product and services by Capital City
Finance and Mortgage Brokers. this is necessary because when the effective marketing will be done then
this will be improving and attracting more consumers.
Along with this another policy will involve providing better discount and other attracting offers to the
potential consumers. This is necessary because when the benefits will be provided then this will be
improving the efficiency of the company to a great extent and this will be resulting in increase in sales of
the company.
Market research
With respect to the market research, the data need to be analysed that which type of consumer are being
present within the market to focus on. this will provide a base to the company in deciding the fact that
whether the correct target group is being focused or not.
Relationships (maintain, strengthen, grow) and appropriate growth targets. Prioritise the relationships.
Good and effective relation need to be maintained with the potential and new clients. this is because in
case the relation will not be good then this will be affecting the working efficiency and profitability of the
company. thus, company has to grow the relation with the potential consumer so that sales and
profitability can be increased.

Action plan (repeat as required)
Due date Task Task owner Resources required
25/05/2022 To promote the
marketing of product and
services to new
consumers
Marketing team Different social media
marketing platforms, IT
tools and techniques,
computers and related
products.
27/05/2022 To analyse the strategies
of competitors that how
they attract the new and
potential consumers.
Marketing and research
and development team
Different secondary data
and annual report of
competitors.
Funding required
More funding is being required by the company as this will be improving the sales of the company. this is
necessary because in order to implement the action plan and the different types of the policy as well. the
requirement for funding of this growth plan is AUD265.
Work practices review (What supports the plan and what might need to change)
For the work practice review the support required is the financial and technological.
Who will need to be consulted during implementation?
The top management and the manager of the growth plan will need to be consulted.
TASK 2
Promotional Plan 1
Industry research (What industry are we in?)
The industry within which Capital City Finance and Mortgage Brokers is being working is the finance and
broking industry. this is the industry wherein the company relates to the finance industry in which
company deals with the broking and lending requirement of clients and people in need.
Market research (identify target markets, products and services)
The target market for Capital City Finance and Mortgage Brokers includes the big businessmen. this is
because of the reason that when the company will be targeting the large businessman then this will be
increasing the work in better and effective manner. this is pertaining to fact that the big business requires
more finance and in order to avail the finance they have to take help of the finance and mortgage
companies.

Competitor analysis (minimum of two (2) competitors)
Basis Capital City Finance and
Mortgage Brokers
Mortgage Broker
Australia
Clark finance group
Price The prices charged by
the company are on the
basis of penetration
pricing methods.
This company
implements the use of
price skimming pricing
strategy to be charged
with the consumers.
For this company the
use of competitive
pricing strategy is being
implemented.
Place Both the online and
offline facility is being
provided.
The use of only offline
facility is being used.
Combination of both
offline and online
method is being used.
Business current position
Currently the company is present in good market position as the profits of the company are increasing and
this will be improving the working efficiency of the company as well. the position is competitive because of
the reason that already the company is charging low price and because of this the competitive position is
very high.
Products and/or services to promote
The new product and service being offered by the company for the new range is to provide all the services
to the new and potential consumers. the company offers different types of the services like commercial
lending, home loans, personal and motor vehicle finance, insurance and many other different services. this
promotional plan is being used in order to promote these services to other new and potential target.
Objectives and targets of the promotion
The objective of the promotional plan are as follows-
To increase the number of new consumers by 14 % with the existing product and services.
To enhance the investment within the marketing activities by 6 % so that more new people can be
attracted.
Promotional tools and strategy
The use of social media strategy will be used in order to promote the product and services of the company
to the new and potential consumers.
Along with this the different discount and other benefits will be provided to the consumer so that they use
the services of the company.

Promotional Plan 2
Industry research (What industry are we in?)
The industry which is being dealt by the company is the finance industry. this is because of the reason that
this is the company which deals in providing loans and finance to the company or the required party.
hence, for this it is necessary for Capital City Finance and Mortgage Brokers to work in better manner so
that they are good in the industry practice.
Market research (identify target markets, products and services)
With the help of the of the market research it is clear that the new innovation being brought within the
operation involves the facility of customisation. This is very important for the reason that when the facility
of customisation will be provided to the client then this will be improving the efficiency of the company.
this is because when this facility will be provided to the consumer or the client then they can make the
changes in the policy according to their requirement. hence, this will be providing a competitive benefit to
Capital City Finance and Mortgage Brokers.
Competitor analysis (minimum of two (2) competitors)
Basis Capital City Finance and
Mortgage Brokers
Blutin finance Freedom Lend
Services The new facility of
customisation will be
provided to the
consumer
Here no facility of
customisation is being
provided to the
consumers.
The focus on the fixed
policies is only being
implemented within this
company.
USP Bringing continuous
innovation is the USP of
this company.
To provide the fixed
pattern of the working
and the services is the
only aspect which
company provides.
The USP of the company
is its competitive prices
which they charge to the
client.
Business current position
Currently the company is working at good market position and with the implementation of the new
innovation the position of Capital City Finance and Mortgage Brokers will be improving to a great extent.
Products and/or services to promote
The new product or the service which Capital City Finance and Mortgage Brokers will be providing is the
facility of customisation. within this customer can choose the time of paying the interest and the principal
amount according to their convenience.

Objectives and targets of the promotion
The objective of the current promotional plan are as follows-
To increase the number of consumer by 16 % with the help of new innovative service.
To increase the number of repeated consumer by 5 % in order to improve the working of the company.
Promotional tools and strategy
The promotional tool and strategy being used within the promotion of new facility of customisation will be
done with help of social media marketing. this is very necessary for the reason that currently more people
are using social media and promotion with its help will be beneficial and will increase the sales to a great
extent.
Task 2: Question 2
Implementing
the
promotional
plan 1
Task Steps required Resources
required
Who will
complete this?
Date to start Date to
complete
Having
effective
financial
resources
Assessing the
significant
needs of all
functional area
Significant source
of financing
Financial
manager
1/06/2022 5/06/2022
Possessing
right
personnel
Conducting
recruitment
procedure for
having higher
skilled
employees for
accomplishing
the
organisational
objective
Knowledge about
the required
position
Human
resource manger
6/06/2022 8/06/2022

Implementing
the
promotional
plan 1
Task Steps required Resources
required
Who will
complete this?
Date to start Date to
complete
Conducting
significant
marketing
technique
Recognition of
the highly
effective
technique
influence the
targeted
audience
Proper market
network to build
good brand
awareness ,
significant
personnel which
has significant
skills & attributes.
Marketing
manager
9/06/2022 18/06/2022
Implementing
the
promotional
plan 2
Task Steps required Resources
required
Who will
complete this?
Date to start Date to
complete
Situational
analysis
This can be
conducted by
having the
application of
technique such
as market
analysis for
gaining insights
about industrial
practice
Effective market
network so that
effective proper
identification of
trends can be
identified
Strategic
manager
20/06/2022 25/06/2022
Building
proper
communicatio
n channel
This can be
exerted by
having common
platform for
eliminating
Having significant
technological
awareness among
employees
Human
resource
manager
26/06/2022 28/06/2022

Implementing
the
promotional
plan 2
Task Steps required Resources
required
Who will
complete this?
Date to start Date to
complete
Having
public
relationship
practices
It involves
having
significant
communication
with the
targeted
audience
Possessing proper
presence on
online platform
Marketing
manager
29/06/2022 05/07/2022
Task 2: Question 3
Student response to Task 2: Question 3
Monitoring
the
promotional
plan 1
Marketing
plan
targets
Monitorin
g process
Period one Period two Period
three
Period
four
Average
Inclining
number of
consumer
by 14 %
Customer
conversion
rate
06/07/2022-
16/07/2022
17/07/2022
-
27/07/2022
28/07/2022
-
08/08/2022
09/08/2022
-
19/08/2022
N/A
Inclining
marketing
actions by
6%
Bounce
rate
20/08/2022-
30/08/2022
01/09/2022
-
10/09/2022
11/09/2022
-
20/09/2022
21/09/2022
-
30/09/2022
N/A
Maintaining
quality work
by 20%
Paying
attention
on
customer
satisfaction
01/10/2022-
10/10/2022
11/10/2022
-
20/10/2022
21/10/2022
-
31/10/2022
01/11/2022
-
10/11/2022
N/A