Business Management Skills - Growing the Business - Risk and Applying Risk Management Processes - Business Assignment Help

Assignment Task:

Business Management Skills Assignment Help

Task 1 — Developing and nurturing relationships with clients, other professionals and third-party referrers

George and Mildred now require you to write a plan to assist in developing and nurturing relationships with clients, other professionals and third-party referrers.
Your plan should address the following:

1. How CCF & MB’s policies and procedures and legislative, regulatory and professional codes of practice impact on developing and nurturing relationships.

2. How you would use CCF & MB’s social, business and ethical standards to develop and maintain positive relationships.

3. The importance of confidentiality and how you would maintain it in your dealings with colleagues, clients and other parties.

4. How you would adjust your interpersonal style to the needs and situation of other parties.

5. How you would go about developing and maintaining business and professional networks and other relationships to benefit the organisation; and how you would use them to identify and cultivate relationships in order to promote and market the organisation.

6. How you could use and cooperate with other professionals and third parties to expand and enhance the reputation of the organisation, and to identify new and improved business practices.

7. How you would build referral business through appropriate communication channels, to find and secure new business relationships.

8. How you would identify referral needs and provide information about CCF & MB’s relevant products and services.

9. How you would secure interviews with referral business so that the needs of clients can be met.

You may use any format for your plan but you are not permitted to simply answer the points above. If you are unsure as to how to write a plan, you can refer to the Business Growth and Marketing topic and use the suggested SMEAC format outlined in Part 6, Section 13. Remember also the SMART principles.

When completing this task, assumptions are permitted although they must not be in conflict with the information provided in the background information.

Task 2 — Growing the business

Having considered how you would go about building and nurturing relationships, George and Mildred now require you to turn your attention to marketing and promoting CCF and MB’s business. This requires you to develop a marketing plan for the business. In developing your marketing plan you should consider the following:

1. Your plan should be developed in line with CCF & MB’s vision statement.

2. The identification of target markets, using a combination of research and your own personal experience.

3. The identification of your major competitors (at least two) with a competitor analysis developed for each competitor.

4. The identification of CCF & MB’s market position, based on your research findings and analysis.

5. How you would promote CCF & MB’s brand and the tools you would use to achieve this.

6. The provision of options for increasing yield per existing client.

7. How you would implement your plan and monitor it to ensure objectives/goals/performance indicators are being met.

8. How you would adjust your plan if required.

You may use any format for your plan but you are not permitted to simply answer the points above. If you are unsure as to how to write a plan, you can refer to the Business Growth and Marketing topic and use the suggested SMEAC format outlined in Part 6, Section 13. Remember also the SMART principles. When completing this task, assumptions are permitted although they must not be in conflict with the information provided in the background information.

Task 3 — Identifying risk and applying risk management processes

George and Mildred have become very concerned about the potential risks that could jeopardise CCF and MB's business operations. They were very impressed with your growth and marketing plans for CCF and; MB so they have now moved you into more of a general manager’s role with expanded responsibilities, including managing CCF & MB’s risk. As part of your new responsibilities you are required to develop a risk management plan.

In producing this plan you are required to:

1. establish the context for CCF & MB’s risk management plan

2. list and explain the tools you will use in assessing the risks you identify

3. identify the stakeholders you would consult in establishing context and the tools you would use in identifying CCF & MB’s risks

4. identify at least two risks that CCF and 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

5. conduct a risk analysis and risk evaluation for the risks you have identified

6. identify treatments for them

7. how you will monitor and review them in your risk management plan.

When you are defining the risk criteria you intend to use you are required to create your own risk matrix to address likelihood and consequence. Document your risk treatment plan using a risk register.

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.

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