DFMB3_AS_v3

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DFMB3

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Jan 9, 2024

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Business Management Skills (DFMB3_ _v3) Student identification ( student to complete ) Please complete the fields shaded grey. Student number Written assignment result ( assessor to complete ) Result — first submission Parts that must be resubmitted Result — resubmission (if applicable) Result summary ( assessor to complete ) First submission Resubmission (if required) Task 1 Task 2 Task 3 Task 4 Task 5 Task 6 Task 7 Feedback (assessor to complete) [insert assessor feedback] Document classification: Confidential Page 1 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Before you begin Read everything in this document before you start your written assignment. About this document This document includes the following parts: • Part 1: Instructions for completing and submitting the written assignment • Part 2: Case study • Part 3: Written assignment which includes: – Task 1 — Developing and nurturing relationships with clients, other professionals and third-party referrers – Task 2 — Developing business promotion plans – Task 3 — Identifying risk and applying risk management processes – Task 4 — Improving the business – Task 5 — Managing team effectiveness and performance – Task 6 — Performance management – Task 7 — Develop a performance plan. 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 written assignment within your enrolment period. Your study plan is in the KapLearn subject room. Document classification: Confidential Page 2 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Part 1: 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 the written assignment. • Name your file as follows: StudentNumber_SubjectCode_AS_versionNumber_SubmissionNumber (e.g. 12345678_DFMB3_AS_v _Submission1 ). • Include your student ID on the first page of the written assignment. Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous. 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. Document classification: Confidential Page 3 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Submitting the written assignment Only Microsoft Office compatible written assignments submitted in the Word template file will be accepted for marking by Kaplan Professional Education. You need to save and submit this entire document. Incomplete written assignments will be returned to you unmarked. Do not remove any sections of the document. Do not save your completed written assignment as a PDF. The maximum file size for the written assignment (Word document) is 20 MB . 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. Refer to the Important details available in the ‘Written assignment’ section of KapLearn under your ‘Written assignment Enrolment’. Note: Your written assignment must be submitted on or before your personal due date. Please check KapLearn for your due date. Document classification: Confidential Page 4 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

The written assignment marking process You have weeks from the date of your activation in this subject to submit your completed written assignment. If you reach the end of your initial enrolment period and have been deemed ‘Not yet demonstrated’ in one or more assessment items, then an additional four (4) weeks will be granted, provided you attempted all assessment tasks during the initial enrolment period. Your assessor will mark your written assignment and return it to you in the subject room in KapLearn under the . 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 written 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 assignment. How your written assignment is graded Written assignment(s) 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 ‘Demonstrated’ or ‘Not yet demonstrated’. 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 to be demonstrated in all assessment items in order to be awarded the in this subject, including: • all of the exam questions • the written assignment • the oral assignment. Document classification: Confidential Page 5 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

‘Not yet demonstrated’ and resubmissions Should sections of your written assignment be marked as ‘Not yet demonstrated’ 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 demonstrated’. Make changes to your original submission. Use a different text colour for any written sections of 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 written 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: FNSRSK511 Undertake risk identification FNSPRM613 Grow financial businesses BSBLDR522 Manage people performance BSBTWK502 Manage team effectiveness FNSPRM612 Improve business of financial practices Note that the written assignment is one of 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 Course Coordinator. Document classification: Confidential Page 6 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Part 2: Case study Capital City Finance and Mortgage Brokers (CCF & MB) Overview Capital City Finance and Mortgage Brokers (CCF & MB) is 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 provide service to their clients from their office, or anywhere at their clients’ convenience through its team of mobile brokers. CCF & MB does not hold a credit licence 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: • 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. Document classification: Confidential Page 7 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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 provide service to 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 help them 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 child, 25 years ago moving with the family unit. After completing high school, Luis graduated from university with an accounting degree and worked in ANZ in commercial lending. Luis joined CCF & MB four years ago and specialises in vehicle and capital equipment financing. Luis is responsible for providing ITC and general equipment lease funding options for clients. By providing better outcomes, both during and at the end of their equipment leases, Luis’s 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. Document classification: Confidential Page 8 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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 Document classification: Confidential Page 9 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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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. Document classification: Confidential Page 10 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Part 3: Written assignment questions Background Refer to the case study business profile for Capital City Finance and Mortgage Brokers (CCF & MB). George and Mildred are very happy with the way you provide service to your clients and your contribution to building the business. They now want you to take the next step into a more senior role of general manager and turn your focus to expanding the business, by building relationships through strategic alliances with selected real estate agents, accountants and legal firms. They also want you to consider how CCF & MB can consolidate its relationships with its existing strategic partners. Task 1 — Developing and nurturing relationships with clients, other professionals and third-party referrers George and Mildred require you to write two (2) growth plans. • The first growth plan will outline how you will strengthen and improve the strategic relationships you already have with a number of real estate agents, accountant and legal firms. • The second growth plan will outline how you will identify and foster new relationships with other real estate agents, accountants and legal firms. The layout and content of each plan should address the following: • Identify the business objectives and needs. • Capital City Finance and Mortgage Brokers (CCF & MB) does not have a vision statement. You will need to create one. (In the first growth plan you will outline how you developed, reviewed and finalised the vision statement). • Outline the policies and procedures that are essential for the growth plan to be functional, effective and meet legislative requirements. • Conduct sufficient market research to identify key relationship opportunities and what will be required to maintain and attract relationships. • Outline how you could use and cooperate with other professionals and third parties to expand and enhance the reputation of the organisation. • Segment the relationships and tailor the plan for each. • Clearly identify the priorities for each relationship based on the overall vision and objectives of the business. • Set appropriate growth targets. • Develop an action plan to achieve the growth targets. • Review existing business work activities and confirm they support the business growth plans. • Outline who will need to be consulted during implementation of your plan. • Outline how you will monitor and adjust the plan. You can use a suitable template that you are familiar with or have found on the internet or you can utilise the template provided below. When completing this task, assumptions are permitted, although they must not be in conflict with the information provided in the background information. (1,000 words) Document classification: Confidential Page 11 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Student response to Task 1 Growth Plan 1 Background Answer here Vision statement Answer here Objective/s of the organisation Answer here Objective/s of the growth plan. What will be the success indicators? Answer here Essential policies and procedures Answer here Market research Answer here Relationships (maintain, strengthen, grow) and appropriate growth targets. Prioritise the relationships. Answer here Action plan (repeat as required) Due Date Task Task Owner Resources required Answer here Answer here Answer her Answer here Funding required Answer here Work practices review (What supports the plan and what might need to change) Answer here Who will need to be consulted during implementation? Answer here How will you monitor the implementation and adjust as required? Answer here Document classification: Confidential Page 12 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Growth Plan 2 Background Answer here Vision (how you developed, reviewed and finalised the vision) Answer here. Objective/s of the organisation Answer here Objective/s of the growth plan. What will be the success indicators? Answer here Essential policies and procedures Answer here. Market research Answer here Relationships (maintain, strengthen, grow) and appropriate growth targets. Prioritise the relationships. Answer here Action plan (repeat as required) Due date Task Task owner Resources required Answer here Answer here Answer here Answer here Funding required Answer here Work practices review (What supports the plan and what might need to change) Answer here Who will need to be consulted during implementation? Answer here How will you monitor the implementation and adjust as required? Answer here Document classification: Confidential Page 13 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Assessor feedback for Task 1 Resubmission required? Assessor feedback for Part 3: Task 1 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 14 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Task 2 — Developing business promotion plans George and Mildred now require you to write two (2) promotional plans . The promotional plans can be on any aspect of the business (new clients, new products, new services etc.). Task 2: Question 1 The layout and content of each plan should address the following: • Research and identify business priorities in securing the desired target market. • Obtain market research data (or make assumptions) and identify key market data for the plan. This can include, for example, customer demographics, product types (i.e. census data if available), marketing media data (i.e. social media). • Conduct a competitor analysis. Identify your major competitors (at least two (2)), with a competitor analysis developed for each competitor. • Develop and review the business’ market position based on the research and competitor analysis. • Develop the business brand and the benefits your business can offer. • Identify the business’ products and/or services using a combination of research and your own personal experience. • Establish the target objectives to meet the needs and requirements of the promotion. • Develop and select the appropriate promotional tools. (1,000 words) You may use any format for your plan; however, 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. You may also refer to the internet for other examples of business or marketing plans. A link providing guidance on how to develop a plan is available in the toolbox. You can also use the template below for your plan. When completing this task, assumptions are permitted, although they must not be in conflict with the information provided in the case study. Document classification: Confidential Page 15 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Student response to Task 2: Question 1 Promotional Plan 1 Industry research (What industry are we in?) Answer here Market research (identify target markets, products and services) Answer here Competitor analysis (minimum of two (2) competitors) Answer here Business current position Answer here Products and/or services to promote Answer here Objectives and targets of the promotion Answer here Promotional tools and strategy Answer here Promotional Plan 2 (must be different to Plan 1) Industry research (What industry are we in?) Answer here Market research (locate target markets, products and services) Answer here Competitor analysis Answer here Business current position Answer here Products and/or services to promote Answer here Objectives and targets of the promotion Answer here Promotional tools and strategy Answer here Document classification: Confidential Page 16 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Task 2: Question 2 In the tables below, outline the tasks, steps, resources, personnel and timelines required to develop and implement the promotional plan. (100 words) Student response to Task 2: Question 2 Implementing the promotional plan 1 Task Steps required Resources required Who will complete this? Date to start Date to complete Answer here Answer here Answer here Answer here Answer here Answer here Implementing the promotional plan 2 Task Steps required Resources required Who will complete this? Date to start Date to complete Answer here Answer here Answer here Answer here Answer here Answer here Assessor feedback to Task 2: Question 2 Resubmission required? Document classification: Confidential Page 18 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 2: Question 3 You are required to monitor the progress of the promotional plans. Complete the tables below to demonstrate how you will monitor your promotional plan over a period of time. Depending on the type of activity and how it is measured, an average may not be applicable. If not applicable, input n.a. in the Average column. (100 words) Student response to Task 2: Question 3 Monitoring the promotional plan 1 Marketing plan targets Monitoring process Period one Period two Period three Period four Average Answer here Answer here Answer here Answer here Answer here Answer here Answer here Monitoring the promotional plan 2 Marketing plan targets Monitoring process Period one Period two Period three Period four Average Answer here Answer here Answer here Answer here Answer here Answer here Answer here Assessor feedback to Task 2: Question 3 Resubmission required? Document classification: Confidential Page 19 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Task 2: Question 4 You will need to assume that certain aspects of your promotional plan require an adjustment. For example, ‘consistency of posts to social media not being maintained’. To make adjustments to the promotional plan, complete the tables below. (200 words) When completing this task, assumptions are permitted although they must not be in conflict with the information provided in the background information. You may need to negotiate the improvements prior to confirming implementation. Note to students: You can add lines to the tables if necessary. Student response to Task 2: Question 4 Adjusting the promotional plan 1 Identified task requiring adjustment Changes required Answer here Answer here Adjusting the promotional plan 2 Identified task requiring adjustment Changes required Answer here Answer here Assessor feedback for Task 2: Question 4 Resubmission required? Document classification: Confidential Page 20 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

Assessor feedback for Part 3: Task 2 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 21 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 3 — Identifying risk and applying risk management processes George and Mildred have become very concerned about the potential risks that could jeopardise CCF & MB’s business operations. They were very impressed with your growth and promotional plans for CCF & MB so they have now moved you into more of a general manager’s role with expanded responsibilities, including managing CCF & MB’s risk. Task 3: Question 1 As part of your new responsibilities, you are required to develop a risk management plan which: • establishes the context for CCF & MB’s risk management plan and establish the boundaries of that context • outlines the regulatory requirements (in particular who are the regulators) • lists and explains the tools you will use in assessing the risks you identify for CCF & MB • identifies the stakeholders (both internal and external) you would consult in establishing context and assist with the identification of CCF & MB’s risks • identifies at least two risks and the organisational processes associated with that risk that CCF & MB could face for each of the six categories of business risk; including strategic risks, compliance risks, financial risk, operational risks, market and environmental risks and reputational risks; with an appropriate risk statement for each identified risk. Note: You may make any assumptions in producing your plan, but these should be documented either in the body of your plan or separately before you produce it. You are not permitted to simply answer the points detailed above. (400 words) Document classification: Confidential Page 22 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Student response to Task 3: Question 1 Answer here (1) (2) (3 ) Use the table provided to list the methods you can use to assess the risks you have identified Method Description (4) (5) Use the table provided to complete the risk statement for each identified risk Risk statement element Leading/linking words Example Assessor feedback to Task 3: Question 1 Resubmission required? Document classification: Confidential Page 23 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 3: Question 2 Refer to the email from co-worker identifying potential risk in the toolbox. In the answer box below, write an email to management outlining the identified risk, your analysis, how you would evaluate the risk and suggest how the risk could be best treated. (200 words) Student response to Task 3: Question 2 Answer here Assessor feedback to Task 3: Question 2 Resubmission required? Document classification: Confidential Page 24 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 3: Question 3 Refer to the risk treatment mapping guide in the toolbox. Using the following steps, complete the risk evaluation and treatment table below: Step 1. Insert the risks that you identified in Question 1 into the table below. Step 2. By using the risk treatment mapping guide in the toolbox, appraise the likelihood and consequence for each risk identified and include these in the table. Step 3. Define how each risk can be treated, and whether a potentially serious risk should be escalated to management. Step 4. Develop recommendations to mitigate identified risks. Step 5. Provide recommendations on how to monitor and review the risks identified. (200 words) Student response to Task 3: Question 3 Answer here Risk evaluation and treatment map Risk identified (through analysis) Likelihood (risk evaluation criteria) Consequence Treatment (comment if risk should be escalated to management for supervision) Mitigate identified risks (provide recommendations to mitigate risk) Monitor (include how to be monitored and how often to be reviewed) Answer here Answer here Answer here Answer here Answer here Answer here Assessor feedback to Task 3: Question 3 Resubmission required? Document classification: Confidential Page 25 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 3: Question 4 Take two (2) of the risks you identified in Question 1 and treated in Question 3. Create a scenario for both where the risk has escalated in likelihood and/or consequence due to the control strategy you applied not working effectively or the situation has changed. Outline your recommendations for new controls. Complete the table below. (200 words) Student response to Task 3: Question 4 Answer here Risk Current Escalation factor New Recommende d controls Who needs to be informed L C L C Answer here Answer here Answer here Answer here Answer here Answer here Answer here Answer here Assessor feedback for Task 3: Question 4 Resubmission required? Assessor feedback for Part 3: Task 3 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 26 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 4 — Improving the business Over the last few months business for CCF & MB has been very good with a number of new clients coming on board as a result of implementing your business growth and marketing plans. However, neither you or the business owners are satisfied with maintaining the status quo; as you and they are committed to a program of continuous improvement. You all feel that CCF & MB’s competitive advantage needs to be strengthened and a SWOT should be undertaken to establish CCF & MB’s strengths and weaknesses including benchmarking the business against the industry. You now decide that you will carry out a diagnosis of the business including a SWOT analysis and a benchmarking exercise to improve CCF &MB’s competitive advantage and its business. You are to produce a document covering your diagnosis, which will be distributed amongst CCF & MB’s key personnel. As a minimum, your document should cover the following: 1. Identify the business priorities, objectives, needs and requirements. 2. The data and tools you have used as part of your diagnosis to identify CCF & MB’s competitive advantage. 3. A SWOT analysis to identify CCF & MB’s strengths and weaknesses, its threats and opportunities. 4. How you identified and sourced relevant benchmarking data. 5. How you selected the key indicators (and who you consulted and negotiated with) for your benchmarking exercise. 6. A consolidated list of the areas for improvement (this must include at least three (3) different financial businesses) you have identified with a cost-benefit ratio established for each of them. 7. Outline the stakeholders you consulted and negotiated with to reach agreement on the areas of improvement and the success factors. 8. Recommendations on the changes that may be required that will affect existing workflows or CCF & MB’s organisational structure. 9. A high-level action plan that will implement and monitor the recommended changes to be made. This should include negotiating the required improvements prior to confirming implementation. In addition to the learning material in Topic 1-2, Part 2, refer to the helpful links provided in the toolbox. (1,000 words) Student response to Task 4 Answer here 1. 2. 3. 4. 5. 6. 7. 8. 9. Document classification: Confidential Page 27 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Assessor feedback for Task 4 Resubmission required? Assessor feedback for Part 3: Task 4 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 28 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 5 — Managing team effectiveness and performance One of your key responsibilities as general manager is to develop and implement ways to improve the performance of CCF & MB’s consultants and other staff members. Answer the following questions: Task 5: Question 1 (a) Outline the team purpose, roles and responsibilities of the CCF & MB’s team. (b) Using the ‘work plan’ template provided below, develop a work plan for CCF & MB. This can be done by using actions of your choice (i.e. nurturing leads to create clients). The work plan will also include who you will allocate various tasks to achieve the plan’s objective. The plan must be within CCF & MB’s organisational requirements and comply with legal requirements. (c) Outline the stakeholders that you would need to consult with to ensure that the roles and responsibilities meet the CCF & MB’s operational plans, resource requirements and organisational processes. (300 words) Student response to Task 5: Question 1 Answer here Work plan template Action Allocated to Responsibility Timeframe allocated Answer here Answer here Answer here Answer here Assessor feedback Task 5: Question 1 Resubmission required? Document classification: Confidential Page 29 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 5: Question 2 Describe the process you might follow when developing quantitative and qualitative performance criteria. You should explain how you ensure that the criteria relates to CCF & MB’s objectives and how to motivate and support staff members to achieve these objectives. (200 words) Student response to Task 5: Question 2 Answer here Assessor feedback Task 5: Question 2 Resubmission required? Task 5: Question 3 How will you facilitate team member input into planning, decision making and operational aspects of team tasks? (50 words) Student response to Task 5: Question 3 Answer here Assessor feedback Task 5: Question 3 Resubmission required? Document classification: Confidential Page 30 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 5: Question 4 Locate a code of conduct, either in your workplace or on the internet. Modify and customise it to create a code of conduct that would meet CCF & MB’s business requirements. Ensure that you upload a copy of the original code of conduct as well as your modified version. You can use the information provided at ‘Workable’. The link is available in the toolbox. (150 words) Student response to Task 5: Question 4 Answer here Assessor feedback Task 5: Question 4 Resubmission required? Task 5: Question 5 What are the benefits of evaluating and monitoring staff members on a continuous basis? (50 words) Student response to Task 5: Question 5 Answer here Assessor feedback Task 5: Question 5 Resubmission required? Task 5: Question 6 Why is it important to document the performance management process? Explain the possible consequences of not retaining appropriate records of this process. (100 words) Student response to Task 5: Question 6 Answer here Document classification: Confidential Page 31 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 5: Question 7 In what ways can you reinforce excellence in work performance through recognition and continuous feedback? How might you be able reward staff in non-financial ways? (100 words) Student response to Task 5: Question 7 Answer here Assessor feedback Task 5: Question 7 Resubmission required? Task 5: Question 8 You have realised that the majority of staff really do not understand the performance management process, development program and legal requirements. You need to deliver a training session to cover the key aspects. Map out your training program in the training template below. You will need to cover all steps of the performance management process in the topics/content of your training program. At the Fair Work Ombudsman website, you will find an excellent managing performance program. You can use this to develop your training program. The link is provided in the toolbox. (200 words) Student response to Task 5: Question 8 Answer here Time Topic/Content Resources required Answer here Answer here Answer here Assessor feedback for Task 5: Question 8 Resubmission required? Document classification: Confidential Page 33 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Assessor feedback for Part 3: Task 5 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 34 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6 — Performance management Martin and Luis are working together on project involving the preparation for a loan application for one of CCF & MB’s most influential clients, a property developer. Martin missed a deadline and the whole project is now behind schedule by a week. This is the third time in a month that he has missed a deadline. Martin has had problems with meeting deadlines in the past and has already had a written warning. As the general manager you have been monitoring Martin’s performance over the past month, providing informal feedback about his role in the project. Although he has made several improvements regarding his performance, his inability to meet deadlines has forced the delay of the client’s development a further month. CCF & MB made a commitment to the client that the loan application would be with the prospective lender two weeks ago. The client is not happy that he does not yet have an approval and is considering cancelling the agreement he has with CCF & MB and going elsewhere. Task 6: Question 1 You have arranged to meet with Martin to talk about the project and his input. How would you go about providing constructive feedback to Martin? (100 words) Student response to Task 6: Question 1 Answer here Assessor feedback for Task 6: Question 1 Resubmission required? Document classification: Confidential Page 35 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6: Question 2 Following your meeting with Martin you have decided to continue monitoring his performance for the purposes of evaluating where improvements can be made and provide feedback. Outline the process you have adopted to conduct this monitoring exercise. Reference material is available in Topic 1-3, Managing people’s performance. (100 words) Student response to Task 6: Question 2 Answer here Assessor feedback for Task 6: Question 2 Resubmission required? Task 6: Question 3 Following your meeting with Martin, use the evaluation criteria listed in the table below. You should also include any additional criteria you think is applicable. Record and document comments regarding Martin’s performance in the performance appraisal checklist below. (50 words) Student response to Task 6: Question 3 Performance appraisal check Evaluation criteria Rating 1–5 (5 best) Team leader/general manager comments Attendance & punctuality Answer here Answer here Dependability Answer here Answer here Personal appearance Answer here Answer here Productivity Answer here Answer here Work quality Answer here Answer here Assessor feedback Task 6: Question 3 Resubmission required? Document classification: Confidential Page 36 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6: Question 4 Using the template below, outline a learning and development plan for Martin. (a) Explain how you will support this team member throughout the learning and development plan. (b) How will you ensure you obtain their commitment and agreement to the development plan? (100 words) Student response to Task 6: Question 4 Answer here Notes for completion: • capability area : skill, knowledge or attribute the team member needs to acquire or improve. • learning and development strategy(s): the development tools you select (such as coaching, training) to assist them to achieve the capability area • required resources: any resources needed to achieve the chosen strategy (such as a computer etc.) • start date: when they will start the strategy • end date: when they will finish the strategy. Capability area Learning and development strategy Required resources Start date End date Answer here Answer here Answer here Answer here Answer here Assessor feedback for Task 6: Question 4 Resubmission required? Document classification: Confidential Page 37 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6: Question 5 If Martin’s performance continues to be unsatisfactory you will need to counsel and implement the organisation’s performance improvement process. Outline the steps (including the timeline) involved in taking an employee through the process. A poor performance policy example is located in the toolbox . (200 words) Student response to Task 6: Question 5 Answer here Assessor feedback for Task 6: Question 5 Resubmission required? Task 6: Question 6 Luis is basically the opposite to Martin. Luis meets deadlines and produces quality work. The project delays are not due to his work. You are considering training him to manage a new office that CCF & MB are considering opening on the other side of the country. He does not have management experience though. You have also arranged to meet with Luis to talk about the project and Luis’s other work. How would you go about providing recognition and positive feedback to Luis? (100 words) Student response to Task 6: Question 6 Answer here Assessor feedback for Task 6: Question 6 Resubmission required? Document classification: Confidential Page 38 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6: Question 7 Following your meeting with Luis you have decided to monitor Luis’s management capability for the purposes of evaluating where improvements can be made and provide feedback. Outline the process you have adopted to conduct this monitoring exercise. (150 words) Student response to Task 6: Question 7 Answer here Assessor feedback for Task 6: Question 7 Resubmission required? Task 6: Question 8 Following your meeting with Luis, create an evaluation document. Use the below evaluation criteria template to record and document comments regarding Luis’ performance and capability as a manager in the performance appraisal checklist below. (100 words) Student response to Task 6: Question 8 Performance appraisal checklist Evaluation criteria Rating 1–5 (5 best) Team leader/general manager comments Attendance & punctuality Answer here Answer here Dependability Answer here Answer here Personal appearance Answer here Answer here Productivity Answer here Answer here Work quality Answer here Answer here Management capability Answer here Answer here Communication skills Answer here Answer here Delegation skills Answer here Answer here Assessor feedback for Task 6: Question 8 Resubmission required? Document classification: Confidential Page 39 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 6: Question 9 Using the template below, outline a learning and development plan for Luis. (a) How will you support this team member throughout the learning and development plan to help him develop his management skills? (b) How will you ensure you obtain Luis’ commitment and agreement to the development plan? (250 words) Student response to Task 6: Question 9 Answer here Notes for completion: • capability area: skill, knowledge or attribute the team member needs to acquire or improve • learning and development strategy(s): the development tools you select (such as coaching, training) to assist them to achieve the capability area • required resources: any resources needed to achieve the chosen strategy (such as a computer etc.) • start date: when they will start the strategy • end date: when they will finish the strategy. Capability area Learning and development strategy Required resources Start date End date Answer here Answer here Answer here Answer here Answer here Assessor feedback for Task 6: Question 9 Resubmission required? Document classification: Confidential Page 40 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Assessor feedback for Part 3: Task 6 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. Document classification: Confidential Page 41 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 7 — Develop a performance plan Task 7: Question 1 In order for CCF & MB to continue to meet their primary goal of ‘ being a leader in offering broking services to the local community’ , they have asked you, in your capacity as the newly appointed general manager, to develop a performance plan and establish some ‘key performance indicators’ (KPIs) for all customer service staff. The objective of the performance plan is to focus on the organisation’s key goals and objectives in line with the ‘ Service standards statement’ available in the toolbox. Information on people performance can be sourced from the learning material Topic 1-3, People management. (200 words) Student response to Task 7: Question 1 Answer here Assessor feedback for Task 7: Question 1 Resubmission required? Task 7: Question 2 Write an email for circulation within the business that praises the team’s positive efforts and contributions over the last six months. Ensure that you are specific so as the team knows what they have done well and the impact that their actions. (100 words) Student response to Task 7: Question 2 Answer here Assessor feedback for Task 7: Question 2 Resubmission required? Document classification: Confidential Page 42 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 7: Question 3 (a) What processes will you implement to identify and address issues, concerns and problems identified by team members? (b) How will you encourage the team to participate and take responsibility for solving problems? (c) How will you support the team to identify, participate and take responsibility for solving problems? (d) What behaviours will you need to exhibit to promote teamwork and collaboration? (300 words) Student response to Task 7: Question 3 Answer here Assessor feedback for Task 7: Question 3 Resubmission required? Task 7: Question 4 In the template below, outline the communication that you will provide to key stakeholders (in particular George and Mildred, and the team). Identify at least five (5) stakeholders and advise of their preferred communication requirements. (100 words) Student response to Task 7: Question 4 Answer here Stakeholder (Name or role) Requirements (What information and date) Frequency (how often) Media (meeting, report etc.) Answer here Answer here Answer here Answer here Assessor feedback for Task 7: Question 4 Resubmission required? Document classification: Confidential Page 43 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 7: Question 5 The team members are struggling to achieve the KPI’s established in your performance plan and have requested that you inform George and Mildred that they cannot be achieved without an additional administration staff member (maybe just part time). After discussion and consideration, you agree. Write an email to George and Mildred outlining the issue and develop a solid case for the recruitment of an additional staff member. (100 words) Student response to Task 7: Question 5 Answer here Assessor feedback for Task 7: Question 5 Resubmission required? Task 7: Question 6 In Task 6 there were some serious issues with a loan application for one of CCF & MB’s most influential clients, a property developer. The client is thinking of cancelling the agreement. Write an email to George and Mildred outlining the issue and how you have resolved it. (100 words) Student response to Task 7: Question 6 Answer here Assess or feedback for Task 7: Question 6 Resubmission required? Document classification: Confidential Page 44 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 7: Question 7 The Tuckman’s theory focuses on the four (4) stages a team goes through as they develop and grow together over time. To understand more about the four stages of team development use the link from MIT Human Resources and the video ‘Tuckman’s Stages of Team Development — the links are located in the toolbox. (a) For each of the four (4) stages of team development (forming, storming, norming and performing), describe the support you will provide the CCF & MB team to facilitate cohesiveness and teamwork. Include how you will change your leadership and management style to meet the needs of the team at each of the four stages of development. (b) How would you consider the team members’ individual personality and emotional needs? (300 words) Student response to Task 7: Question 7 Answer here Assessor feedback for Task 7: Question 7 Resubmission required? Document classification: Confidential Page 45 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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Task 7: Question 8 One of the most difficult challenges a manager faces is to maximise performance while maintaining a positive work environment. (a) Give three (3) examples of challenges that can arise when managers attempt to maximise productivity within a work team. (b) For each of these challenges, provide a range of solutions to maintain team cohesion whilst maximising productivity — three (3) solutions for each challenge (a total of nine (9)). Refer to the toolbox for a helpful link. (250 words) Student response to Task 7: Question 8 Answer here Challenge Solution 1 Solution 2 Solution 3 Answer here Answer here Answer here Answer here Assessor feedback for Task 7: Question 8 Resubmission required? Assessor feedback for Part 3: Task 7 [insert feedback] Date assessed: Click here to enter a date Does the student need to resubmit? Questions that need to be resubmitted First submission Resubmission To pass this written assignment, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission. END OF Document classification: Confidential Page 46 of 46 DFMB3__v © Kaplan Education Pty Ltd. All rights reserved.

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