Business Report: Charter Court Financial Services Analysis

This report provides a comprehensive analysis of small business management, using Charter Court Financial Services as a case study. It explores how the company plans and allocates resources to achieve its objectives, including strategies for lending and funding. The report delves into customer relationship management processes, detailing the benefits and challenges. Furthermore, it examines cash flow forecasting, break-even analysis, and key financial statements, illustrating their contribution to successful organizational management. The report also addresses the implications of regulations and legislation on the business. The content covers strategic and operational customer relationship management, including analytical, customer data platforms, and collaborative techniques. The financial planning and resource allocation strategies are analyzed in detail, along with the key legislation and regulations that impact the business operations.

MANAGING AND RUNNING SMALL BUSINESS
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Table of Contents
Introduction................................................................................................................................4
Task 1.........................................................................................................................................5
LO1 Discuss how a small business or social enterprise plans and allocates resources to
achieve objectives......................................................................................................................5
The main considerations Charter court financial services needs to address when planning
and allocating resources to achieve business objectives (P1)................................................5
Task 2.........................................................................................................................................9
LO2: The customer relationship management process for a small business or social
enterprise, including understanding the benefits and challenges of transnational operation.....9
The different processes of customer relationship management for Charter court financial
services (P2 & P3)..................................................................................................................9
Task 3.......................................................................................................................................12
LO3: Cash flow forecast, budget and break-even analysis and interpret key financial
statements.................................................................................................................................12
An annual itemised monthly cash flow forecast showing fixed and variable costs set
against income for Charter court financial services(P4).....................................................12
Break- even analysis could be applied to Charter court financial services (P5)..................13
The key financial statements for Charter court financial services in relation to how
they contribute to the successful management of the organisation (P6)..............................14
Task 4.......................................................................................................................................18
LO4Implications of regulation and legislation on a small business or social enterprise.........18
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The key legislation and regulations that have implications on Charter court financial
services (P7).........................................................................................................................18
Conclusion................................................................................................................................20
Reference list............................................................................................................................21
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Introduction
For managing a small business organisation development of a proper management system is
significant and for running the business properly, appropriate planning of business is
essential. However, for meeting the organisational objectives, the management of the
organisation has to allocate the resources properly, and development of appropriate planning
which include the total timing, financial resource need, other resources need and the total
budget for the objective. However maintenance offer healthy customer relationship is part of
the organisational Management and running. Finally, use of proper regulations within the
organisation and implication of the designation of the country play essential importance in
the process of running and managing the business.
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Task 1
LO1 Discuss how a small business or social enterprise plans and allocates
resources to achieve objectives.
The main considerations Charter court financial services needs to address when
planning and allocating resources to achieve business objectives (P1)
The organisation Charter court financial services are well known for their exclusive service
of leading specialist bank issuers. However, this organisation has three different brands those
are Charter savings bank, precise mortgages and exact mortgage experts. Providing services
to the various markets is part of the organisational activity(Chartercourtfs.co.uk. 2018).
In addition to that, delivering growth as well as sustainable returns to the shareholders is
organisational objective. However, providing Quality Services and product proposition to
mortgage brokers and their customers is part of the responsibility. Finally, it can be said that
the main all primary business objective of this organisation to deliver high-quality growth as
well as sustainable and attractive risk-adjusted returns to the clients and
customers(Slawskyand Zafar, 2017).
For achieving this business objective, this organisation has developed their strategies and also
the allocation of resources according to their needs. For meeting their goals, the lending
strategy of this organisation objective is to target attractive and under solved secured lending
markets. This organisation has a main brand which is known as the precise mortgage is brand
however they are related to target special is mortgage and those are related to the underserved
by medium-sized or large UK retail banks. in addition to that building, societies is also one of
the parts. The central planning of this lending strategy is unpinning bye different market
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dynamics which should be positive as well as long-term in nature(Chartercourtfs.co.uk.
2018).
Another lending strategy or planning is to providing precise mortgages which are led by
different industrial professionals who are experienced in their role. In addition to that support
from the highly skilled members which are also experience and inside spelling of the total
mortgage life cycle even part of the strategy. However, according to this landing strategy the
organisation also emphasise on securing their significant market share by producing attractive
lending segments related to large product development.
Finally, the last landing strategy for the planning of this organisation is to automated
decision-making platform, Bespoke, which help the organisation in the management of
mortgage applications(Chartercourtfs.co.uk. 2018). In addition to that, for delivering for
Rapid decision in principle this decision-making platform work remarkably. Depending on
the organisational rigorous as well as codified lending policy, the credit courses and rules are
being developed by the organisation. In addition to that this platform is also effective because
it helps the precise mortgages to react quickly to the non-standard mortgage request with help
the organisation for their failure. In addition to that, this platform is also helpful for the target
market and risk appetite for this organisational consistency.
Accept the lending strategy the organisation also follow some funding strategy for
maintaining and developing establishing the retail saving business as one of the growing and
predictable resource of funding. For that, the chartered savings bank has developed their
award-winning business. In addition to that, the organisation also associated with diversifying
the organisational product offering for getting more access to the new funding
pools(Chartercourtfs.co.uk. 2018). However, continuing different offers related to the
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competitive new savings products is also part of the strategy which is identified in the
existing product lines of the organisation.
Another funding strategy of this organisation is to the exploitation of the wholesale funding
market. This has done opportunistically for delivering cost of the fund optimally. However,
the charter Court is associated with using securitisation platform as a part of their alternative
functioning tool. The main function of this tool is to optimise different financial or funding
resources balance as well as securing the minimum cost of the funding when the market
condition is favourable from the organisational perspective(Chartercourtfs.co.uk. 2018). In
addition to that, the organisation is easily able to access the securitisation funding, but the
organisational leaders are not entertaining dependency on this funding. In addition to that for
competitive retail deposit market as well as for rebalancing of the group's liabilities average
life to be weighted is part of the planning of the organisation.
For the planning of the organisation, the resources allocation also plays a significant role. In
addition to that, it can be said that the organisation changes in strategy depending on the
change in the market (Legget al. 2015). However, the financial market of United Kingdom is
ever changing aspect which needs to consider by the organisation at the time of allocating
resources. For allocating the resources the organisation charter Court financial services
initially focus on their scope in the market following that they identify the different resources
of the organisation. After that set up the resource planning is being done by the financial
manager of the organisation and for this process, political thinking is used by them. However,
tracking the time for meeting the objective and the usable tools are being identified by
understanding about the total budget for it (Le Roy and Czakon, 2016.). After that
preparation for a different kind of emergency situation and also explaining the expert team
members about the total allocation plan is needed. However, this allocation of resources is
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essential for achieving the organisational objectives and also for the future growth and
development of the organisation in a secure way.
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Task 2
LO2: The customer relationship management process for a small business
or social enterprise, including understanding the benefits and challenges of
transnational operation.
The different processes of customer relationship management for Charter court
financial services (P2 & P3)
The customer satisfaction is counted as one of the most crucial areas of Charter Court.
However, providing the customer with a continuous benefit from their dynamic product
development is part of the organisational strategy. However, providing best solutions for the
changing need of the customers is the primary objective maintained by them. In addition to
that, it can be said that in the year of 2017 the organisation has straightforward and simple
shaving products for their customers around 118000 in total (Chartercourtfs.co.uk. 2018).
The specialist mortgage lending for the underserved high street banks is also important.
However, the organisation also appreciates the compliment from their internal customer
which helps them in understanding the customer's Expectations and customer satisfaction
level.
However, for managing customer relationship, the organisation use the customer relationship
management approach which is necessary for understanding the current and potential
customers as well as help the organisation in the interaction process between the company
and customers. The data analysis is done of the total history of the customer for improving
the business relationship between the organisation and customer by focusing on the customer
retention process. But the ultimate goal of this process is driving sales growth of the
organisation. However arrange of various customer interaction processes like communication
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channels, telephone, live chat, website, email, marketing materials, and also social media is
part of this process. The main helpful area of this customer relationship management is to
understand and gather knowledge about the targeted customers all audiences and their needs
(Hatten, 2015).
However, the organisation Charter Court is associated with different customer relationship
management types which include analytical, customer data platform, collaborative, strategic
and operational system. However, strategic customer relationship management is mainly
looked after the customer-centric business culture. In addition to that, the operational area is
very important for this organisation because of it focuses on the service automation, sales
force, automation, marketing automation of this organisation. In this process, the organisation
is associated with the analysis of sales promotion and the total sales cycle for which the
customers' history of cells and future cells possibilities are being properly researched. In
addition to that, the automation of marketing is related to the marketing process for making it
more efficient and effective for the organisation which is also associated with understanding
the services related to marketing and how they can provide the best quality of services to their
customers. Finding out the best marketing tools like social media and different sales
information is part of this process (Deresky, 2017). However, the service automation process
is nearly absent in this organisation because as this organisation is a financial service
provider, the automation Technology is not applicable because successful Introduction by the
export for providing service is essential.
However, the analytical way is also successful because the data collected from different
sources by the organisation in previous time are being analysed for finding out the different
challenges which might face by the organisation. However, the collaborative technique is
associated with the external stakeholders of the organisation like the investors
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(Chartercourtfs.co.uk. 2018). Finally, the customer data platform is referred to the computer
system in the organisational Marketing department where the entire database about the
customers is being stored in software which will be beneficial for the interaction with the
customer.
The benefits of using customer relationship management help the control of the organisation
to integrate their schedule and different task related to the customer management and also to
keep a proper record about the pre-sales and after sales aspects. In addition to that reduction
way in the amount of manual labour as well as the planning for the resources is being
affected by this customer relationship management process. Finally, it can be said that by
using the customer relationship management software and approach the organisation able to
increase the efficiency and profitability of the organisation and its various functions
(Craneand Matten, 2016).
In addition to that, the challenges which are being faced by the organisation for using this
management program is the software is not cheap and the total investment because of this
software can be expensive for the organisation. In addition to that for building up a proper
relationship with the customers, the organisation need a long time which can be absent from
the quick process of customer service (Abad, 2017). However, for using this software, the
customers have to properly understand the software which needs proper training most of the
time it is not possible in the short period. However, the transnational corporation of this
organisation is being affected or influenced by the benefits and challenges developed by
customer relationship management.
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Task 3
LO3: Cash flow forecast, budget and break-even analysis and interpret key
financial statements
An annual itemised monthly cash flow forecast showing fixed and variable costs set
against income for Charter court financial services(P4)
The cash flow statement of an organisation is a part of the financial statements that are used
to depict the cash inflows and outflows made by the organisation at a certain point in time
(Slawskyand Zafar, 2017). For every organisation be it a large multinational organisation or a
small and medium-sized enterprise, it is essential to prepare a comprehensive cash flow
statement for a given period such that the management of the organisation can get a precise
understanding of the cash inflows made as well as the expenses incurred for that period. This
helps in maintaining sufficient working capital for the organisation for the business
operations.
One of the major reasons to prepare cash flow statement is that gas is a quantifiable and
tangible assets and is difficult to fake (Spence, 2016). In addition to that, it gives some
measurable data to the management regarding the performance of the organisation at a certain
point of time accounts related cash flow statement helps the management of an organisation
to get a proper understanding of the potential sources of income as well as the recurring
expenses that need to be incurred. This tends to give a clear picture about the financial
stability of an organisation at any point of time (Deresky, 2017).
In regards to Charter Court Financial Services, it is noted that the net cash and cash
equivalents for the financial year end 2017 have increased on a significant level which
depicts the increase in the financial stability as well as the operations of the organisation.
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