Role Play Case Study - Calvin and John Young - Risk Management Strategy - Management Assessment Answer

Assessment Task:

Role Play Case Study Management Assessment Answer

Part 2: 

Question 1

How do you assess the need to adjust your interpersonal style to talk with different types of clients or professionals? Provide one example of where your interpersonal style needs to be adjusted to accommodate a client needs. For example, where there is a language difficulty or perhaps difficulty in gaining confidence of a professional or referrer.

Question 2

In Parts 3 and 4 to this assessment, you will act as a broker and will be required to make oral (audio recording) responses. Prepare a list of resources and equipment
you will need for these oral assessments.

Question 3

Aside from the resources and equipment identified in Question 2, what will you do to prepare for the delivery of the loan proposal in the Part 4 Role Play? You can refer
to the case study information in Part 4. What communication techniques would you use to respond to any difficult questions? This question demonstrates your ability to plan ahead for your interaction with the customer.

Part 3:

1. You own a broker business named XYZ Brokers and employ five staff — two additional brokers and three staff in support roles. Your support staff assist both you and your additional two brokers in processing loans. They also liaise with lenders and other parties on loan matters.

As a business owner, you are concerned that XYZ Brokers is not achieving the maximum potential it could. You want to make improvements to the business’s performance to assist in its growth. This will involve some research and setting out a plan for the future. Describe how you would
• gain an understanding of the strengths and opportunities for your business
• identify the weaknesses and threats to the business
• obtain benchmarking data to assist with your review of the existing performance of your business
• develop a plan for improvement and growth, and who you would involve or consult
• implement and monitor progress.

2. One of the initiatives coming from your review of the business is to develop and grow additional business and networking relationships, while always being aware of the legislative, regulatory and professional codes of practice that must be followed.
    What are some of the actions your team would take to:
    •    expand your referral network
    •    build and maintain professional business relationships 
    •    expand and enhance your business’s reputation in the marketplace while always adhering to client privacy requirements, governing laws and industry codes of practice.

3. You have developed concerns lately over your staffs’ ability to complete work efficiently and effectively. They seem to put in a lot of hours, but at times you have discovered staff working on tasks that have already been started or completed by someone else.
    Describe the actions you need to take to improve the performance of the team, their outputs and, at the same time, create more team harmony. In your answer you might consider the following:
    •    How would you go about a review of work allocations and who would you involve in the process?
    •    What record of job roles would need to be developed and implemented?
    •    How would you monitor individual and team performances?
    •    How you would reward excellent individual and team performances?

4. You consider staff development an important part of your role and you take pride in seeing staff develop and advance to new roles. 
    Describe how you would:
    •    identify development and training needs of staff
    •    manage a non-performing staff member
    •    terminate a staff member who is performing poorly, if their performance does not improve.

5. As a business owner, team leadership is a big part of running a successful business. Essentially, you are responsible for:
    •    leading by example
    •    enhancing the image and profile of the business 
    •    encouraging staff to participate in decision-making for their own growth
    •    monitoring business and individual performances. 
    Describe how you would deal with and prioritise each of the above responsibilities in your role as a business owner of XYZ Brokers, in order to build a successful business.

6. Running your own successful business can be rewarding. But it does come with risk. 
    All successful businesses identify and manage these risks by adopting a Risk Management Strategy, as well as processes to manage these risks. You understand that you will require help from others in formulating your Risk Management Strategy.
    Describe:
    •    how you would analyse and document the various risk exposures in your business

•    who will be the key stakeholders that you would involve in identifying the risks and formulating a Risk Management Strategy 
    •    how you would effectively liaise and communicate with stakeholders
    •    how you will keep these stakeholders informed at each stage of the process and obtain their commitment to assist in management of the identified risks.

Part 4: Roleplays

You will participate in four role plays for a maximum of 20 minutes. These role play will be conducted by audio recording. You will need a volunteer to assist you in these role plays.

This role play will include you and a volunteer. You will need to select an appropriate person to be a volunteer, who meets the criteria below:
•    does not have to be an actor
•    can follow instructions
•    is able to ask questions – suggested questions are provided in the Volunteer Guide
•    will permit you (the student) to complete the oral assessment to the best of your ability.
The volunteer needs to understand that this is part of your assessment. Provide a copy of the Volunteer Guide in your KapLearn Business Management Skills (DIPMB3v3) subject room to your volunteer so they understand what they need to do in your assessment.

Role Play Case study — Calvin and John Young

Background

Note: This case study will be used for the following three role-plays.

You are a broker at XYZ Brokers and have received a referral from a local solicitor to talk to two brothers, Calvin and John Young who wish to jointly purchase two apartments in the same building. They want to purchase them as rental properties. The building has 12 apartments. The units have 75% permanent tenants in place and the remaining 25% are used for holiday rentals. The location is in a highly sought-after area and all holiday periods are fully booked.
The brothers have invested together before and have experience in buying and selling property. They have sold all their other investment properties and the apartments will be their only investment until they can identify another opportunity. They have never had any formal agreement drawn up between them in the past. The cash at bank is mostly from the sales of other investments.
It is also important to note that these brothers have financed investment properties in the past but their level of financial literacy, in relation to legislative obligations of a lender, is limited. 
They would like you to put together two loan structure options:
•    a joint investment loan with an 80% LVR with the balance of contribution to come from their savings
•    a joint investment loan but also using the equity in their existing homes to permit borrowing 100% of purchase price plus costs.

This Management Assessment has been solved by our Management experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.