CIVMB BS T2-1 v3

Business Skills
Topic 2-1: Organisations,

teams and individuals
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Topic 2-1: Organisations, teams and individuals
Certificate IV in Finance and Mortgage Broking
Contents
Overview ........................................................................................................ 2-1.3
Part 1: Individual professional development ................................................... 2-1.4
1 Effective business communication ....................................................... 2-1.4
2 Effective time management ............................................................... 2-1.17
3 Personal development and self-awareness......................................... 2-1.28
4 Professional development ................................................................. 2-1.35
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5 Credit licensing .................................................................................. 2-1.40
Part 2: Working in a team ............................................................................. 2-1.43
6 Being a part of a team........................................................................ 2-1.43
7 Team roles......................................................................................... 2-1.45
8 Feedback ........................................................................................... 2-1.47
9 Problem solving ................................................................................. 2-1.55
Part 3: Managing a team ............................................................................... 2-1.57
10 Acting as a role model ....................................................................... 2-1.57
11 Mentoring ......................................................................................... 2-1.58
12 Team leadership and management .................................................... 2-1.59
13 Planning ............................................................................................ 2-1.61
14 Change management and technology ................................................ 2-1.64
15 Performance appraisals ..................................................................... 2-1.66
16 Managing underperformance ............................................................ 2-1.67
© Kaplan Education Pty Ltd 2-1.1

Part 4: Working in an organisation ................................................................ 2-1.71
17 Vision and mission statement ............................................................ 2-1.71
18 Organisational structure .................................................................... 2-1.73
19 Internal policies and procedures ........................................................ 2-1.73
References .................................................................................................... 2-1.77
Suggested answers........................................................................................ 2-1.78
2-1.2 CIVMB_BS_T2-1_v3
Overview
Working as a mortgage broker in the financial services industry can involve working for
a large or small organisation. A comprehensive understanding of the organisation’s
structure, management, processes and polices is vital for success.
Topic learning outcomes

On completing this topic, students should be able to:
• identify and implement organisational policies and procedures
• demonstrate an ability to work as an effective team member
• plan individual work goals to ensure efficient time management,
professional development and achievement of key performance indicators (KPIs).
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Part 1: Individual professional development

To contribute to your team and your organisation, you need to cultivate important
business skills and techniques. This topic covers some of these skills including:
• effective business communication
• effective time management
• personal development and self-awareness
• goal setting for personal and professional development
• professional development, including:
– understanding your work role and responsibilities
– what KPIs are and how they are used
– professional development
• credit licensing requirements.
1 Effective business communication

Communication is the foundation of all human relationships. In business,
effective communication skills are crucial for team leaders and team members alike.
Communication is how people share information, give directions, express feelings,
pursue relationships, and encourage and inspire others.
There are many aspects to business communication and a wide variety of resources
available to assist in the improvement of communication skills. This section
contains some guidelines for effective communication and provides many links to
other resources.
Further resources: Business communications

Links to a variety of articles on business communication:
• For Dummies list of business communication articles,
viewed 13 March 2017, <http://www.dummies.com/how-to/business-
careers/Business-Skills.html>.
• Business Balls writing and communicating techniques and examples,
viewed 13 March 2017,
<http://www.businessballs.com/writing-communicating.htm>.
• Mind Tools n.d., Understanding communication skills —
why communications skills are important, Mind Tools,
<https://www.mindtools.com/CommSkll/CommunicationIntro.htm>.
1.1 Listening
According to Adair (2010), listening ‘has been variously called the neglected art or the
forgotten skill in communication’. The effective communicator recognises that both
talking and listening are equally important in verbal communication.
Listening is critical for the success of any verbal communication. The skill of active
listening (i.e. conscious listening) enhances communication and teamwork because it is
inherently respectful of the other person’s point of view.
Developing effective communication skills will assist you in all aspects of client and
colleague interaction.
Barriers to listening
Some barriers to understanding what the other person is really saying are:
• thinking of the next thing you want to say rather than listening
• personal bias
• making assumptions and drawing false conclusions
• hearing only what you want to hear
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• prejudging the problem or the solution
• talking too much
• being closed-minded to alternatives and other opinions
• the fear of being wrong
• use of jargon.
Benefits of listening
By developing sound listening skills, you are aiding effective communication and
relationship building by:
• showing interest in what the other person is saying
• paying full attention to what is being said.
Providing feedback lets the other person know that you are interested and invites them
to continue. Feedback can be:
• non-verbal such as eye contact, a smile or a nod, or
• verbal such as saying ‘I see’ or ‘Is what you are saying …?’ and repeating the
speaker’s message in your own words.
Active listening
Active listening is conscious listening. It may involve:
• showing that you are interested through verbal or non-verbal cues
• remaining neutral
• using questioning and summarising techniques to confirm your understanding.

Apply your knowledge 1: Active listening

Read the following article, watch the short video on active listening and
then answer the following questions:
Mind Tools n.d., ‘Active Listening’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/CommSkll/ActiveListening.htm>.
1. What is active listening?
2. According to the article, what are the five (5) key elements of
active listening?
3. How does active listening make you a more effective communicator?
Note: You can access ‘Suggested answers’ for this activity at the end of this topic.
1.2 Verbal communication

Spoken or verbal communication is information delivered using speech. This requires
that the message giver speaks and uses appropriate stress and tone and that the
message receiver(s) listens. For successful communication to be achieved, both the
speaker and the listener(s) need to be actively engaged.
Adair (2010) suggests that there are seven characteristics of conversations. They are:
• face to face
• a two-way process
• informal
• sincere and open
• adapted to the situation where it occurs
• constitutes a means to an end
• desired and enjoyable.
Communication tends to be effective in situations that resemble the direct face-to-face
conversation and less effective the less similar they are.
Verbal communication skills are used in a wide variety of business situations including
impromptu speaking, face-to-face casual conversations and telephone conversations to
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more formal speaking occasions, such as sales pitches, team meetings or presentations.
Apply your knowledge 2: Speaking in public

Read the following article on public speaking and then answer the following
question:
Mind Tools n.d., ‘Better Public Speaking’, Mind Tools,
<https://www.mindtools.com/CommSkll/PublicSpeaking.htm>.
What are the suggested steps or tips in the article for public speaking?

1.3 Questioning
Communication involves asking questions. Questions are tools that can be used to help
obtain information, build rapport and confirm understanding. Techniques to make the
questioning process more effective and more comfortable for the client include:
• asking one question at a time
• allowing the respondent time to answer
• using different types of questions.
Be clear about the purpose of asking particular questions at a particular time.
For example, to:
• clarify if the information provided is vague or inconclusive
• fill in the gaps when more general information is needed
• probe to obtain specific details.
There are many types of questions, with different functions. Some may be used at any
time and some need only be used at certain stages.
Closed questions
Closed questions require short, usually one-worded answers such as yes or no.
Examples of closed questions include:
• Do you agree?
• Would you like to continue?
• Are you happy with the service from your current adviser?
• What is the date?
Closed questions are useful for:
• obtaining or confirming factual information
• confirming statements or opinions
• testing your understanding of what another speaker has said.
Open questions
Open questions, also known as open-ended questions, open up communication and
encourage a detailed answer from the listener. They begin with words such as how,
what or why.
Examples of open questions are:
• How can I help you today?
• What is your current situation?
• Why did you want to see me?
• What happened next?
The aims of open questions are to:
• establish rapport by developing a conversation
• get detailed answers
• uncover the client’s real view or problem
• elicit the other person’s feelings or opinions on a topic.
Reflective questions
Reflective questioning means that you take some information you gathered previously,
and use it in a question.
Reflective questions are open questions that build rapport and show empathy.
They often begin with: ‘So you feel that…?’ or ‘So this experience has left you feeling …?’
Reflective questions can work very well because they show that you have been listening
and help you to focus on determining the exact needs of your customer.
When using reflective questions, it is important to:
• listen for key words and underlying feelings
• ‘mirror back’ and summarise key words and feelings
• not appear judgemental.
Apply your knowledge 3: Questioning techniques

Read the following article, watch the short video on questioning techniques
and then answer the following questions:
Mind Tools n.d., ‘Questioning Techniques’, Mind Tools,
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<https://www.mindtools.com/pages/article/newTMC_88.htm>.
1. What are funnelling questions? When should you use them?
2. What are probing questions? When should you use them?

3. What are leading questions? When should you use them?
4. What are the uses of questions suggested in the article?
Further resources: Verbal communication for business

A variety of articles on communicating in person:
• A variety of Mind Tools articles on communicating in person,
viewed 13 March 2017, <https://www.mindtools.com/page8.html>.
• An article on effective verbal communication:
The Communication Toolbox n.d., ‘Effective verbal communication’,
<http://www.communicationtoolbox.com/effective-verbal-
communication.html>.
1.4 Non-verbal communication

Non-verbal communication is the communication that happens outside of words
or speech.
A frequently quoted statistic is that 93% of all daily communication is non-verbal. This is
based on the work of Dr Albert Mehrabian who conducted several studies on non-verbal
communication. Dr Mehrabian found that with any message:
• 7% is conveyed through words
• 38% is carried through certain vocal elements or the way that the words are spoken,
such as emphasis, vocal nuance or speech volume
• 55% is communicated through non-verbal elements such as facial expressions,
gestures, posture or eye contact.
Although the actual percentage of non-verbal communication can be disputed, it is clear
that non-verbal communication plays an important part in being persuasive with any
personally delivered communication.
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Apply your knowledge 4: Non-verbal communication

Read the following article, watch the short video on body language and
then answer the following questions:
Mind Tools n.d., ‘Body Language’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/pages/article/Body_Language.htm>.
1. What is body language or non-verbal communication?
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2. What are some non-verbal cues or gestures indicating defensiveness or
a lack of engagement?
3. How can you use awareness of non-verbal communication to be a more

effective communicator?

1.5 Written communication

Written communication is any form of communication that uses the written word.
Written communication is the most common and arguably the most important mode
of business communication, particularly with the increasing reliance on small text
messages (SMS), email, social media and other forms of electronic communications.
Good written business communication:
• is written with the target audience in mind
• is complete, concise, clear, correct and courteous
• answers the following questions: who, what, where, how, when and why
• uses an active rather than a passive voice
• include examples and graphics as needed
• avoids discriminatory, abusive or offensive terminology
• provides readers with ways of getting more information on a topic when required.
Written communication is used extensively in business from short communications such
as SMS or brief emails through to detailed reports and analysis.
Apply your knowledge 5: Writing skills

Read the following Mind Tools article, watch the short video on writing
skills and then answer the following questions:
Mind Tools n.d., ‘Writing Skills’, Mind Tools, viewed 13 March 2017,
<http://www.mindtools.com/CommSkll/WritingSkills.htm>.
1. How do you choose the appropriate format for written
communications?
2. What are the suggested steps in composing a written communication?
2-1.12 CIVMB_BS_T2-1_v3
1.6 Presentations
Presentations are a critical business skill. You may need to make a presentation to sell,
train or inform others. Presentations may involve:
• speaking in public to an audience
• structuring detailed information or presenting complex ideas
• use of technology such as computers, screens, microphones or public address systems
• visual presentation skills, if you are using slides or visual aids.
A sales presentation structure

A suggested structure for a sales presentation to a customer is outlined below.
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Successful presentations
The following are useful hints on how to make your presentation successful:
• Create a meeting agenda.
• Start on time. Keep to your time estimates to ensure that you keep on track.
• Respect your customers. Treat them as equals and be careful not to patronise them.
• Make eye contact throughout the presentation.
• Listen actively. Pay attention to the client’s questions, comments and non-verbal
signals. Watch your audience’s facial expressions. Do they look puzzled? Do they
appear bored, distracted or are their eyes glazed? Are they enthusiastic,
nodding or excited?
• Be personable — remember to smile.
• Empathise with the client. Demonstrate that you can relate to their situation.
• Draw a verbal picture by using metaphors, analogies or personal stories to explain or
illustrate concepts or ideas.
• Modulate your voice. Avoid a monotone.
• Monitor your rate of speech. Do not speak too fast or too slow.
• Speak clearly and concisely.
• Use pauses to help the client digest important points.
• Use effective visual information to support your presentation.
• Dress professionally.
• Ask and encourage questions and interaction.

Apply your knowledge 6: Presentations

Read the following Mind Tools article on presentations and then answer the
following question:
Mind Tools n.d., ‘10 Common Presentation Mistakes’, Mind Tools,
<https://www.mindtools.com/pages/article/presentation-mistakes.htm>.
What are the ten (10) common presentation mistakes outlined in the article
and how can you avoid them?
Further resources: Presentations

A variety of articles on business presentations, viewed 13 March 2017,
<http://www.businessballs.com/presentation.htm>.
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1.7 Meetings
Meetings are an important communication forum in business. Regular team meetings
may be important in the following ways:
• communicate ideas or information
• share progress on work
• provide updates or changes
• appreciate other colleague’s progress or issues
• brainstorm ideas
• ask questions
• provide feedback or suggestions
• opportunities to boost morale and bond as a team.
Apply your knowledge 7: Running effective meetings

Read the following Mind Tools article on running effective meetings and
then answer the following question:
Mind Tools n.d., ‘Running Effective Meetings’, Mind Tools,
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<https://www.mindtools.com/CommSkll/RunningMeetings.htm>.
According to the article, what are the elements to running an effective
meeting?
1.8 Communication protocols and business etiquette

As with any human interaction, it is a good practice to use good manners and adopt
professional etiquette in work situations.
Make appropriate use of phone greetings, writing emails, leaving voice messages and
sending instant messages when communicating with team members. Avoid using
colloquialisms, expletives or inappropriate language.
Display appreciation for team members’ efforts appropriately. Take care with sensitive
and confidential information.

Further resources: Communication protocols and

business etiquette
• Mind Tools n.d., Good manners in the office, Mind Tools,
<https://www.mindtools.com/pages/article/newCDV_82.htm>.
• Giang, V 2013a, 15 business etiquette rules every professional needs to
know, Business Insider Australia, 31 July, viewed 13 March 2017,
<http://www.businessinsider.com.au/business-etiquette-you-need-to-
know-2013-7?op=1#but-dont-worry-too-much-if-you-make-a-mistake-16>.
• Giang, V 2013b, 15 communication etiquette rules every professional
needs to know, Business Insider Australia, 19 December,
<http://www.businessinsider.com.au/professional-communication-
etiquette-rules-2013-12>.
• Business Management Daily n.d., 14 tips on business etiquette:
setting a professional tone with co-workers, clients and customers,
Business Management Daily, viewed 13 March 2017,
<http://www.businessmanagementdaily.com/glp/28411/Business-
Etiquette.html>.
1.9 Cross-cultural communication

The following tips will help you communicate more effectively with individuals and
groups from different cultural backgrounds:
• Always respect cultural and individual differences.
• Avoid cultural stereotyping.
• Keep your language simple, clear and to the point, especially if the other person’s
understanding of English is limited or the subject matter is technical.
• Speak clearly and slowly, but not in a patronising way. A limited understanding of
English or the topic does not mean the person is unintelligent.
• Be patient. For most people, communicating in their non-native language requires
great concentration, particularly when dealing with new concepts.
• Use gestures and visual information to help explain your message.
• Check to see how much is understood. Look out for signs that your message has not
been understood and clarify or paraphrase if necessary.
• Avoid using slang or jargon that might be misunderstood.
• Use humour carefully. Be aware that people from other cultures may not understand
cultural references or that humour may not translate well.
• Be aware that there are different styles of communicating. What may appear rude or
abrupt to you may be considered normal in another culture.
• Although a great deal of body language is universal, much of it is also culturally
specific, for example, people from some countries may find pointing offensive.
For more on cross-cultural communication, see ‘Topic 2-2: Customer service’.
2-1.16 CIVMB_BS_T2-1_v3
2 Effective time management

With the pace of change and the demands of work and personal life being as great as
they are, you need to use the limited time available to best advantage. Unless you do
this, you are at a significant personal and professional disadvantage.
2.1 Benefits of effective time management

The benefits of managing your time effectively are obvious and manifold, including:
• submission of work on time and meeting deadlines
• avoiding last-minute panic so you experience lower stress and less conflict with work
colleagues or managers
• the ability to focus on less urgent but possibly more important activities
• potentially increased leisure time.
2.2 Assess your time management capabilities
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Apply your knowledge 8: Assess your time management capabilities
Take a moment to assess your current time management capabilities using
the quiz provided in the following article:
Mind Tools n.d., ‘How Good is Your Time Management?’, Mind Tools,
<https://www.mindtools.com/pages/article/newHTE_88.htm>.
1. Note your quiz score and any suggested ways to improve your time
management capabilities.
2. What are your strengths and weaknesses in relation to time

management? How can you strengthen the areas of weakness?
Note: This activity requires independent research, therefore, no suggested answers are provided.

2.3 The Pareto principle

The Pareto principle or 80/20 rule was developed by a 19th century economist and
philosopher Vilfredo Pareto. The principle states that 80% of the results come from
20% of the items or effort.
The 80/20 rule is often stated as a common rule of thumb, or benchmark measure,
indicating that the majority of results achieved by any work group or individual are
achieved by a relatively small number of items of work. For example, it is commonly
observed that:
• 80% of sales come from 20% of clients
• 80% of world’s resources or riches are owned by 20% of the population
• 80% of a company's complaints come from 20% of its customers.
While the ratio is not always exactly 80:20, there is a broad pattern of agreement to
this principle.
By applying the Pareto principle, you can concentrate as much of your time and energy
as possible on the high-payoff tasks.
Apply your knowledge 9: The Pareto principle and

time management
Think about how the Pareto principle might apply to you, your work
and time management.
Note: This activity requires independent research, therefore no suggested answers are provided.
Further resources: Pareto principle and time management

• Starak, Y n.d., ‘What is the 80/20 rule and why it will change your life’,
Entrepreneurs-Journey.com, viewed 13 March 2017,
<http://www.entrepreneurs-journey.com/397/80-20-rule-pareto-
principle>.
• James, G 2012, ‘The surprising secret to time management’, Inc.,
29 May, viewed 13 March 2017, <http://www.inc.com/geoffrey-
james/surprising-secret-to-time-management.html>.
• Pinola, M 2012, ‘Work less and do more by applying the Pareto principle
to your task list’, Lifehacker, 1 June, viewed 13 March 2017,
<http://lifehacker.com/5914877/stop-wasting-time-by-applying-the-
pareto-principle-to-your-task-list>.
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2.4 Common time wasters

Some common time wasters are described below.
Interruptions
Interruptions come in many forms including phone calls, non-urgent emails,
instant messages, chat requests, or simply idle chatter with a colleague.
Interruptions can take your attention away from work requiring concentration or
detailed thought, or from more important tasks to focus on urgent but possibly less
important activities.
Ineffective or meandering meetings

Most of us have been unfortunate enough to be in a meeting where the time was not
used effectively. Perhaps there was no agenda, objective or chairperson or perhaps
there was no effective management of the meeting participants. Ineffective meetings
waste everyone’s time, frustrate the participants and make it harder to achieve daily
work goals.
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Procrastination
When faced with difficult decisions, many people are unable to make a choice.
While many decisions require thought and perhaps investigation of options,
procrastination is the habit of delaying, or avoidance of decisive action.
Sometimes people are afraid of making a mistake or may feel overwhelmed when
required to make a decision — some people are just in the habit of avoiding
responsibility. Either way, procrastinating about decisions is a common way to
waste time.
Lack of planning or prioritisation

A lack of planning and prioritisation means you can end up avoiding work that is urgent
or important and spending time on matters that are relatively unimportant or minor.
Other time-wasting activities or behaviours

Some of the other indications of time-wasting behaviour include:
• Disorganised or cluttered workspaces can be dangerous due to trip hazards or even
harbour pathogenic bacteria from discarded food or drinks. It can also be a major
source of time wasting when you are required to find items quickly, or a colleague is
required to find items in your absence.
• Personal communications or social networking — many people make use of their
own mobile phones or other technology to keep in touch with friends, use social
networking sites or complete other personal business, such as banking or shopping.
These can be a major source of distraction and interruption during the working day.

Apply your knowledge 10: Identifying and overcoming time wasters
Time waster What I can do about it

Interruptions
Ineffective meetings
Procrastination
Lack of planning or prioritisation
2.5 Stephen Covey and time management theory

Stephen Covey identified four different generations of time management theory in his
book The 7 Habits of Highly Effective People (Covey 2004):
• first generation — checklists
• second generation — diaries and calendars
• third generation — prioritising and goal setting
• fourth generation — self-management.
Many time management theories and strategies focus on the first and second
generation, with the assumption that being better organised and performing faster and
smarter will make us more time efficient. This is partly true but is not the whole story.
What also needs to be considered is whether we are spending our time on the things
that will generate the greatest benefit.
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2.6 Covey’s time management matrix

Covey’s time management matrix shown below is a model to help focus attention on
important issues that are based on the four quadrants (I–IV).
Covey differentiates between urgent and important tasks. If a matter is urgent,
it requires immediate attention. If a matter is important, the activity has an impact on
results and outcomes, or contributes to high priority goals.
Thus the ideal focus for the majority of your attention is at Quadrant II, the important,
non-urgent tasks.
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Source: Covey 2004.
Urgent matters
Because people tend to react to urgent matters immediately, they can be a disrupting
influence on our time management. Often, urgent matters can be avoided with advance
planning and consideration, while at other times they are unavoidable.
Important matters
Important matters are not necessarily urgent and therefore you can demonstrate more
initiative in their completion. By not attending to important matters in a timely and
planned way, you can easily reach the situation of having to deal with a matter that is
both urgent and important.

What do the four quadrants mean?

Once you have differentiated between the types of tasks you are faced with, you can
make a decision about how to deal with these tasks (i.e. do, decide, delegate or dump).
The table below demonstrates the likely results of spending most of your time in any
one of the quadrants of the time management matrix.
Quadrant I Quadrant II
• Stress • Gain vision and perspective
• Burnout • Balance
• Crisis management • Discipline
• Always putting out fires • Control
• Fewer crises
Quadrant III Quadrant IV

• Short-term focus • Irresponsibility
• Crisis management • Being dependent on others
• Reputation as changeable or directionless • Seen as not credible
• See goals and plans as worthless
• Feel victimised or out of control
• Shallow and broken relationships
Apply your knowledge 11: The time management matrix and

your work activities
Think about the activities you undertake and the issues you need to deal
with at work over a week or two. Allocate these activities to a quadrant in
the table below.
I — Urgent and important tasks II — Less urgent and important tasks
III — Urgent and less important tasks IV — Less urgent, less important tasks
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1. Where is most of your time spent?
2. You will have seen that the ideal place in the matrix in which to spend
most of your time is Quadrant II. What strategies can you think of to
move yourself to Quadrant II?
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Moving to Quadrant II
Focus on prevention rather than prioritising the particular crises you need to deal with
each day. This can be done by organising regularly and then adapting and prioritising as
the need arises. If you can organise weekly it provides balance and context for
decision making.
To move to Quadrant II, address the following important criteria:
• Alignment: Align your vision and mission; roles and goals; priorities and plans;
and desires and disciplines.
• Balance: Your health, family, professional career and personal development must be
included. True effectiveness requires balance. Life is more than just your ‘work life’.
• People and flexibility: Dealing with time leads to efficiency. Dealing with people
leads to effectiveness.
There are times when schedules will need to be put aside for people. You need to accept
this reality to avoid feelings of guilt if a schedule is not followed.

2.7 Time management case studies
Apply your knowledge 12: Case study 1

Caroline works in the customer service section of Big Bank Australia. She is
a senior member of staff and has a number of tasks to deal with every day,
such as logging and monitoring customer enquiries, cross-sales targets to
meet, staff training, answering complex customer queries and dealing with
customer complaints.
She has good working relationships with her colleagues and makes herself
available to help them with their work (and sometimes personal) problems.
Some of Caroline’s colleagues are frequent visitors to her desk with one
problem or another.
Caroline sees maintaining good relationships with her colleagues as being
very important and always manages to find the time to help everyone with
their problems. The downside of this is that she often falls behind with
her other duties. This means she needs to work late at times and often
feels stressed.
Consider Caroline’s situation and then answer the questions below.
1. Caroline has an effective relationship with her colleagues.
However, the way she deals with issues raised by her colleagues could
have detrimental effects. List some of the possible effects this could
have on Caroline’s work and personal life.
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2. How can Caroline change her current work style to help her to overcome
stress but maintain good relationships with her colleagues?
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3. Given your response to the above question, what would be your
suggested way for Caroline to implement the desired changes?


Michael is a loan officer with Big Bank Australia. He has been working on
assessing a loan proposal for a number of days. The proposal is from one
of the bank’s valuable customers who wants to purchase a new home.
Michael has yet to write a loan submission to his credit manager seeking
approval.
He has been stalling on preparing the loan submission because the client’s
income is complex and he does not really know how to analyse it to
determine if the client can afford to purchase the property. The property
goes to auction at 3 pm today and the customer is anxious to find out
whether he is able to bid at the auction. Michael has spoken to the
customer this morning and promised to give him an answer before midday.
It is now 10 am and Michael receives a call from his son’s school to say that
his son has been in an accident and has been taken to hospital. He is
advised to go to the hospital as quickly as possible. Analyse Michael’s
situation and then address the questions below.
1. What should Michael do immediately in relation to the outstanding
loan proposal?
2-1.26 CIVMB_BS_T2-1_v3
2. What should Michael have done differently to avoid the current

predicament?
3. List some of the possible consequences if Michael is unable to provide
2-1
his valuable client with a decision in time to bid at the auction.
Further resources: Time management

• Stephen Covey’s website, viewed 13 March 2017,
<https://www.stephencovey.com>.
• A variety of articles on time management techniques and tips:
– Mind Tools n.d., ‘Time Management’, Mind Tools,
<https://www.mindtools.com/pages/main/newMN_HTE.htm>.
– Business Balls n.d., ‘Time management techniques and systems’,
Mind Tools, viewed 13 March 2017,
<http://www.businessballs.com/timemanagement.html>.

3 Personal development and self-awareness

By objectively assessing your competencies, values, needs and how you do things,
you can gain self-awareness in both your personal and professional life.
Once you achieve self-awareness, you can determine your goals and priorities and start
constructing a work and personal lifestyle that is consistent with your real needs.
Inconsistency between your real needs and your goals can lead to feelings of stress and
a lack of fulfilment.
The diagram below shows how self-awareness is at the core of self-management.
Source: Whetten & Cameron 2004.
3.1 The Johari Window

Self-awareness is about understanding:
• how others see you
• how you see yourself
• the similarities and differences between those two views or perspectives.
Joseph Luft and Harry Ingham developed the Johari Window in 1955. The tool is a useful
visual representation of a person's character and is represented with a four-quadrant
grid as shown above.
The Johari Window provides a way of thinking about the different parts of yourself.
According to the Johari Window, we all have:
• an open self
• a hidden self
• a blind self
• an unknown self.
The theory suggests that as the size of one of the quadrants changes, the size of the
other quadrants will also change proportionately.
Open self
The open self is all that you and others know about your history, behaviour, knowledge,
skills, attitudes, likes, dislikes and potential reactions. Your open self is related to your
ability to understand yourself and communicate with others. A larger open self involves
higher levels of communication and more willingness to let others get to know you.
2-1.28 CIVMB_BS_T2-1_v3
A person is at his or her most creative when the open self is maximised. Increasing the
open self can lead the way to a character change. Obtain feedback to decrease the blind
self and decrease the hidden self through self-disclosure and through engagement and
sharing with others.
Hidden self
Your hidden self is what you know about yourself but that you hide from others.
A person with a large hidden self could be seen as unwilling to disclose, while someone
with a small hidden self might be seen as disclosing too much. Most of us fit somewhere
between these two extremes, revealing certain things but keeping other things hidden.
Blind self
The blind self refers to all of the things that other people know about you but that you
cannot see yourself. Most of us have come across people who appear to be oblivious to
their (good or bad) habits and behaviour — these are usually people with a large blind self.
People who fear their blind self may continually seek reinforcement or reassurance.
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Unknown self
The unknown self is that part that neither you nor other people are aware of.
The unknown self might be revealed in extreme circumstances or clinically,
through psychological analysis or hypnosis.
The theory states that you cannot change the unknown self, but be aware that it does
exist in you and in others.
Using the Johari Window to develop self-awareness

Achieving an adequate level of self-awareness helps you to develop personal and
business relationships that are satisfying and beneficial. When you have become
self-aware, you are accepting of your own character traits and are more able to express
your needs to others.
The Johari Window theory suggests ways to help you develop these abilities:
• Be self-questioning, posing questions such as:
– What do I want to get out of this relationship?
– What direction do I want to take in my career?
– What obstacles am I putting in my way?
• Listen to feedback. In every interaction, people can provide you with valuable
feedback, in both what is said and how they behave towards you. This feedback can
help you to see yourself as they see you. Take note of feedback and give it careful
consideration and analysis.
• Ask others about yourself. You can seek information about yourself from others to
try and reduce your blind self. Do not overuse this strategy because you might be
seen to be anxious and needing reassurance.
• Increase your open self. By increasing the amount you are willing to reveal about
yourself, you may also learn more about yourself. By doing so, you may also open up
new opportunities to develop relationships that will be of benefit now and in the future.

Apply your knowledge 14: The Johari Window

Read the article on the Johari Window below and answer the following
questions:
Mind Tools n.d., ‘The Johari Window’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/CommSkll/JohariWindow.htm>.
1. How can the Johari Window be used with a team?
2. Reflect on your own level of self-awareness using the Johari Window.
Note: You can access ‘Suggested answers’ for Question 1 at the end of this topic.
2-1.30 CIVMB_BS_T2-1_v3
3.2 Emotional intelligence

Emotional intelligence is the ability to recognise your own emotions, understand why
you are feeling that way and have empathy for people around you. Increasing your
emotional intelligence is a key to building great team morale, and achieving increased
motivation and increased productivity.
Apply your knowledge 15: Emotional intelligence

Read the following Mind Tools article and watch the short video on
emotional intelligence and then answer the following questions:
Mind Tools n.d., ‘Emotional Intelligence’, Mind Tools,
1. What is emotional intelligence?
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2. What are the five (5) characteristics of emotional intelligence outlined in
the article?
3. Read the ways suggested in the article to improve emotional

intelligence. Do any of these hints apply to you? Develop a plan to
monitor your own actions and feelings to improve your emotional
intelligence.
Note: You can access ‘Suggested answers’ for Questions 1 and 2 at the end of this topic.

Further resources: Emotional intelligence in the workplace

• Emotional intelligence at work (includes videos and resources),
<http://www.emotionalintelligenceatwork.com>.
• Poskey, M n.d., ‘The importance of emotional intelligence in the
workplace: why it matters more than personality’, ZeroRisk HR,
<http://www.zeroriskhr.com/pdfs/support/hidden/clients/articles/the-
importance-of-emotional-intelligence-in-the-workplace-0113.pdf>.
• Llopis, G 2012, ‘5 ways to lead with emotional intelligence —
and boost productivity’, Forbes, 24 September, viewed 13 March 2017,
<http://www.forbes.com/sites/glennllopis/2012/09/24/5-ways-to-lead-
with-emotional-intelligence-and-boost-
productivity/#2715e4857a0b213df719c2c4>.
3.3 Goal setting

Effectively managing your professional and personal performance involves setting
realistic targets and goals, organising your activities in an efficient way, and achieving a
balance between your work and personal life.
Successful people in any field of endeavour commonly have a clear vision of where they
are going, that is, they have specific goals, a clear vision of what they want to achieve in
life and the directions in which they are heading.
Why set goals?

The need to have clearly defined and measurable goals is also one of the keys to
success.
Goals help you prioritise all the competing issues you need to deal with every day and
concentrate on the ones that really make a difference. They also provide the basis for
decision making. If we have clear goals we can use them to establish the criteria against
which decisions are made. This makes decision making and life in general a little easier.
Setting goals is not always easy, however, the time and effort spent in goal setting and
planning will bring significant benefits.
Keep in mind that as your life changes, your goals will also change. Goals are not and
should not be static. Constantly reassess your goals to ensure that they are still current
and relevant.
2-1.32 CIVMB_BS_T2-1_v3
Establishing goals
Having clearly defined goals helps you to focus on what is really important in your life.
Goals can be long term and short term. Someone who has thought about their life and
what they want from it will have one or more long-term goals, and a number of
short-term goals leading to the long-term ones.
Think about goals in terms of the key areas of your life, for example:
• family
• career
• financial
• educational
• artistic
• social
• community
• health, including
– physical health
– psychological health.
Once you have determined goals, ensure you write them down. Express your goals in a
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positive way and provide as much detail as possible.
SMART goals
SMART is a mnemonic to help you rewrite or refine your goals to make them into
clearer, action-oriented statements. Ultimately this helps to measure your progress
towards your goal.
Specific Objective statements that state exactly what is to be achieved.
Measurable The objective is measurable.
Action orientated The statement has action verbs and is a complete sentence.
Realistic The objective is attainable while still presenting a challenge.
Timely A specific time is set by which the objective is to be achieved.
For example, a person may have the following goal:

I would like to travel overseas.
Phrased in this way, the goal is not specific and does not show commitment. There is no
action or time frame. A SMART goal might be phrased in the following way.
In two years time I will travel to Europe for a one-month holiday. In order to
fund that trip, I will save $100 per week in a high interest-earning account.
Now, the goal setter has defined:
• a specific and measureable goal (i.e. a one-month holiday in Europe)
• an action-oriented plan of saving the required amount to meet the goal
• a realistic challenge — while saving $100 per week might be difficult, it is
still attainable
• a time-bound objective — to be achieved within two years.

Setting short-term goals

To achieve a major goal in your life you may need to set some smaller goals along the
way. For example, your major career goal might be to be general manager of your
organisation’s finance division. A shorter-term goal might be to achieve the necessary
educational qualifications and business experience to fill such a role. An even
shorter-term goal might be to research which qualifications are most relevant and how
you can obtain the necessary business experience.
Apply your knowledge 16: Establishing life goals

Watch the short and informative video and read the accompanying Mind
Tools article on personal goal setting and then answer the questions below:
Mind Tools n.d., ‘Personal Goal Setting’, Mind Tools,
viewed 13 March 2017, <https://www.mindtools.com/page6.html>.
1. What are the tips suggested by the article on goal setting?
2. Write down one (1) or two (2) goals you would like to achieve in each
area. Try to refine your goals using the SMART guidelines.
Life area My goals

Family
Career
Financial
Educational
Social
Health
2-1.34 CIVMB_BS_T2-1_v3
Aligning work goals and values

Successful professional people apply the goal setting and planning process to their work
life as well as their personal life.
To do this, you need to consider the alignment of goals and the values that underpin
those goals. That is, personal, team and broader organisational goals and values should
complement each other. In this way the desired outcomes are more easily reached.
Organisational aims and goals flow from the organisation’s mission statement and
strategic plan. Problems can arise if your goals and values are in conflict with those of
the organisation.
It is also important to align personal goals and values with organisational goals and
values. For example, a person who values personal or community health might choose
not to work for a tobacco company, and a person who values the natural environment
and ecology might choose not to work for a mining company.
Further resources: Personal goals and values

Worrall, D 2013, Goal setting that works — aligning goals and values,
Worrall & Associates, 19 July, viewed 13 March 2017,
<http://www.diworrall.com.au/leadingchangeblog/item/31-goal-setting-
2-1
that-works-%E2%80%93-aligning-goals-and-values>.
4 Professional development
Professional development involves planning and the active management choice of
your career.
4.1 Understanding your work role

A job description is the typical way most people understand their organisational role.
Without a job description it is difficult for a person to properly commit to, or be held
accountable for, a work role. This is especially so in larger organisations.
A job description usually defines a person’s:
• organisational role
• qualifications or licensing required for the role
• the knowledge, skills and experience required for the role
• job responsibilities
• reporting lines
• accountability.

Job descriptions are important for:

• organisational planning
• determining training requirements
• identifying and selecting job candidates
• salary determination
• clear understanding of job expectations and thus a harmonious working environment
• outlining benchmarks or measures for job performance
• a reference for any disciplinary measures, in the result of conflict or disputes.
Further resources: Job descriptions

• Fair Work Ombudsman templates, including job description templates,
<http://www.fairwork.gov.au/about-us/policies-and-guides/templates>.
• Job descriptions, viewed 13 March 2017,
<http://www.businessballs.com/jobdescription.htm>.
4.2 Key performance indicators

KPIs are job performance measurements, metrics or benchmarks. As Marr (2013a)
writes: ‘KPIs are vital navigation instruments used by managers and leaders to
understand whether they are on course to success or not’.
Effective KPIs are closely tied to corporate or organisational strategic objectives.
For example, if a company wishes to increase the number of customers by 10% in the
forthcoming year, sales staff may be required to prospect for customers in new markets
or increase their cold calling by a similar percentage in order to achieve the overall
organisational target.
KPIs may be derived from competency standards, job analysis, business targets or
budgets. They might be agreed with by your managers, colleagues, team members or
other stakeholders.
Further resources: KPIs

• Mind Tools n.d., ‘Performance management and KPIs’, Mind Tools,
<https://www.mindtools.com/pages/article/newTMM_87.htm>.
• Marr, B 2013a, ‘The 75 KPIs every manager needs to know’, LinkedIn,
5 September, viewed 13 March 2017,
<https://www.linkedin.com/pulse/20130905053105-64875646-the-75-
kpis-every-manager-needs-to-know>.
• Marr, B 2013b, ‘What the heck is a… KPI?’, LinkedIn, 16 May,
<https://www.linkedin.com/pulse/20130516061123-64875646-what-
the-hell-is-a-kpi>.
2-1.36 CIVMB_BS_T2-1_v3
4.3 Training and professional development plan

Any financial services industry professional needs to be committed to a program of
lifelong learning. This includes keeping up to date with the latest industry trends and
developments, and changes that occur in the products offered by various lenders.
Keeping up to date
Larger financial organisations often conduct or organise regular industry and product
information training. Smaller organisations and independent brokers may need to
develop their own methods of keeping up to date.
Irrespective of your employment situation, a number of relatively simple strategies can
be used to ensure that your industry and product knowledge is up to date and you are
able to offer your clients the full range of products and services available within your
scope of offerings.
Some useful strategies include:
• joining a professional association appropriate to your area of work
• subscribing to a professional journal or newsletter
• participating in a workplace mentor program
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• volunteering for any strategic work committees where you might be able
to contribute
• enrolling in a further education program or undertaking further formal training
• subscribing to industry and related business journals, newsletters and
product updates
• attending relevant seminars and conferences
• networking with colleagues and other industry participants
• participating in regular professional development activities, such as presentations
and workshops
• regularly checking industry websites and reading the financial pages of the paper.
For more information on keeping up to date, see ‘Topic 1-3: Products and services’.
Networks and professional associations

Establishing networks and joining and participating in professional associations are
excellent ways to keep up to date with current and future industry developments.
Networking can also be very useful in your planned career development. Networks can
assist you to identify opportunities such as sales opportunities or new markets.
Networks can be formal or informal:
• Formal networks are the type you join, sometimes at a fee, which conduct regular
meetings or get-togethers. Professional associations may fall into this category.
• Informal networks may include current and ex-colleagues, and friends with similar
interests. There is usually less organisation with these networks, but the informal
nature may make it easier to make contact with others when you need information
or help.

When networking consider the following:

• If you have identified a number of possible network opportunities, it may not be
possible to keep up with commitments to each of them. List the networks and
consider the benefits of each. Consider the practicality of each network, for example,
which will be the easiest for you to maintain?
• Remember that you can start a network yourself. Talk to people, send emails or
establish contact in some other way such as through LinkedIn at
<www.linkedin.com/home> or other professional networking sites.
Professional training
Opportunities for ongoing professional development include:
• employer organisations training programs
• training provided or sponsored by professional associations
• accredited courses provided by universities, TAFES or other tertiary organisations
• training provided by third-party organisations such as registered training
organisations (RTOs).
4.4 A professional development plan

Factors to consider when preparing your development plan include but are not limited
to:
• Consider your current formal qualifications.
• Review your life experience.
• Assess your current work situation and the requirements of your current position,
for example:
– KPIs
– objectives
– general work competencies
– job description.
• Assess your current work performance.
• Identify any gaps in your competencies, skills, ability and knowledge by looking at:
– outcomes of performance review
– feedback from others
– your own self-assessment.
• Consider your future work and life and the sort of future you visualise for yourself.
• Review your life goals, see ‘Goal setting’ in section 3.3.
• Consider your values, see ‘Aligning work goals and values’ in section 3.3.
• Determine the skills and knowledge needed for this work.
• Identify any gaps between your current situation and what you need to do to achieve
your goals.
• What further education and training will you need?
• Who would be a valuable mentor to you?
• Which networking opportunities would assist you?
• Which external factors may affect your plans, such as changing business
environment?
2-1.38 CIVMB_BS_T2-1_v3
• Which changes might occur in your family and home life that might have an impact
on you?
• What might be your organisation’s expectations of future performance and roles?
• How will you manage your stress levels?
• What personal traits may be of benefit in your future work performance?
Apply your knowledge 17: A professional training and

development plan
Consider the professional development activities you might undertake in
the next 6–12 months. If appropriate and you are currently working in the
industry, speak with your manager, training or human resources
department about the activities that you are considering and include these
in your plan. In the table below, list possible areas of development.
Research training or development opportunities that may offer the
appropriate skills or knowledge you require. Briefly describe the programs
or opportunities you have identified in these areas.
Developmental area to be Program or developmental Competencies
addressed opportunity
2-1
Professional development and training records

Maintaining and keeping a record of ongoing professional development is often a
licensing requirement for some professionals.
Any system or process you use or put in place to maintain the currency of your industry
and product knowledge must meet your individual needs.

Further resources: Professional development plan

• Mortgage & Finance Association of Australia (MFAA) professional
development opportunities, viewed 13 March 2017,
<https://www.mfaa.com.au/develop/Pages/Professional-
Development.aspx>.
• Scivicque, C 2011a, ‘Creating your professional development plan:
3 surprising truths’, Forbes, 21 June, viewed 13 March 2017,
<http://www.forbes.com/sites/work-in-progress/2011/06/21/creating-
your-professional-development-plan-3-surprising-
truths/#2715e4857a0b7b29ea4927bb>.
• Scivicque, C 2011b, What is a professional development plan?,
online video, 20 September, viewed 13 March 2017,
<https://www.youtube.com/watch?v=PRZcstlx6KQ>.
• Templates and quizzes related to professional development,
viewed 13 March 2017, <http://www.eatyourcareer.com/free-
stuff/free-downloads>.
• A sample professional development plan template,
<http://www.duncansutherland.com.au/images/stories/downloads/SM
ART_Plan_Template.pdf>.
5 Credit licensing
Credit licensing
There are three possible credit licensing process authorisations:
• engage in credit activities as a credit provider
• engage in credit activities other than as a credit provider or lessor (e.g. as a credit
representative or broker)
• engage in all credit activities.
Credit licensing requires that the applicant is a fit and proper person to engage in credit
activities and involves a criminal history check and the payment of fees.
For full details of credit licensing requirements, see ‘Apply for a credit licence’ on the
ASIC website at: <www.asic.gov.au/for-finance-professionals/credit-licensees/applying-
for-and-managing-your-credit-licence/apply-for-a-credit-licence>.
See also ASIC Regulatory Guide RG 204 ‘Applying for and varying a credit licence’ at:
<www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-204-
applying-for-and-varying-a-credit-licence>.
Once accredited, ASIC will issue the applicant with an Australian credit licence
(ACL) number.
2-1.40 CIVMB_BS_T2-1_v3
Credit licensing — financial requirements

Credit licensees must ensure that they have access to sufficient financial resources to be
able to meet all their debts as and when they become due. A credit licensee must:
• plan and monitor cash flows to ensure they are sufficient to adequately meet
obligations as a credit licensee under the National Consumer Credit Protection Act
2009 (Cth) (NCCP Act)
• document the process for determining adequate financial resources.
For more information see ASIC Regulatory Guide RG 207 ‘Credit licensing —
Financial requirements’, viewed 13 March 2017, at:
<www.asic.gov.au/asic/asic.nsf/byheadline/Regulatory+guides?openDocument#rg207>.
Competence and training

Credit licensees must comply with the organisational competence obligation outlined in
the NCCP Act.
ASIC Regulatory Guide RG 206 ‘Credit licensing — Competence and training’ sets out the
minimum requirements for competence and training required by different types of
businesses and licensees.
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For more information on RG 206 go to the ASIC website, viewed 13 March 2017, at:
<www.asic.gov.au/regulatory-resources/credit/credit-general-conduct-obligations/rg-
206-credit-licensing-competence-and-training>.
Panel of lenders
According to the MFAA (2015):
A credit adviser or brokerage has to obtain accreditation with lenders in
order to sell their product/s. Most credit advisers will become accredited
with a number of lenders — called a ‘panel of lenders’. Credit advisers are
only able to sell products from lenders on their panel. The requirements for
accreditation vary from lender to lender, as too does the size of each credit
adviser's panel. Some lenders have minimum volume loan requirements in
order to achieve and maintain accreditation.
Other requirements
Other requirements include:
• As recommended by the MFAA Code of Practice, credit advisers or brokers need to
maintain professional indemnity insurance.
• Membership of the credit ombudsman as recourse in the event of disputes
or complaints.

List of MFAA lenders

A list of MFAA lenders is available, viewed 13 March 2017, at:
<www.mfaa.com.au/IndustryInformation/Pages/MFAA-lenders.aspx>.
Further resources: Licensing

• Mortgage & Finance Association of Australia (MFAA) 2015, Code of
practice, MFAA, 15 September, viewed 13 March 2017,
<https://www.mfaa.com.au/AboutUs/Documents/150914%20MFAA%2
0Code%20of%20Practice%20Effective%2015Oct15.pdf>.
• Australian Securities and Investments Commission (ASIC) n.d., FAQs —
getting a credit licence, ASIC, viewed 13 March 2017,
<http://www.asic.gov.au/asic/asic.nsf/byheadline/Getting+a+credit+lice
nce?openDocument>.
• Australian Securities and Investments Commission (ASIC) 2013,
Regulatory Guide RG 204 ‘Applying for and varying a credit licence’,
ASIC, viewed 13 March 2017,
<http://www.asic.gov.au/asic/asic.nsf/byheadline/Regulatory+guides?o
penDocument#rg204>.
Regulatory Guide RG 207 ‘Credit licensing — Financial requirements’,
penDocument#rg207>.
Regulatory Guide RG 206 ‘Credit licensing — Competence and training’,
penDocument#rg206>.
2-1.42 CIVMB_BS_T2-1_v3
Part 2: Working in a team

Professionals often find themselves working as part of a team. Lenders will often
operate in a team environment comprised of professionals who offer the customers
products and services based on their combined professional knowledge and skills.
The ability to work in and as part of a team is important. The skills required are relevant
to a variety of interpersonal relationships.
A foremost skill in developing any human relationship and in all aspects of business is
the ability to communicate effectively.
6 Being a part of a team

A team is a group of individuals working together with a common focus, goal or
objective.
When a team is functioning well, it is greater than the sum of its parts. Whether on the
sports field or the office, working in a great team where the participants feel valued can
lift individual performances.
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Being a part of a team involves:
• being fully committed to the team’s goals
• being responsible for meeting commitments or tasks assigned to you
• being an effective and sensitive communicator
• providing constructive feedback when required
• recognising fellow team members’ achievements
• being an active contributor and participant in the team
• having a collaborative attitude
• sharing
• being flexible and compromising when necessary
• being respectful to others in and outside the team
• creative problem solving
• resolving any conflicts in a professional and respectful manner.

Apply your knowledge 18: Being a part of a successful team

Take a moment to reflect on times in your life where you have worked in a
successful and effective team. It may have been a work team, sporting team
or some other context.
1. When was the team most effective? Why?
2. How did working in a successful and effective team make you feel?
3. What are the qualities or behaviours of team members who work

effectively in a collaborative way?
4. What, if any, are the disadvantages of working in a team?
2-1.44 CIVMB_BS_T2-1_v3
7 Team roles
It is important when working in a team to have clearly defined roles and responsibilities.
This helps to avoid confusion, overlap of work or unnecessary rework. Dr RM Belbin
developed a theory of team roles to identify people’s behavioural strengths and
weaknesses in the workplace to:
• build productive working relationships
• select and develop high-performing teams
• raise self-awareness and personal effectiveness
• build mutual trust and understanding
• aid recruitment processes.
Apply your knowledge 19: Your role in a team

Read the Mind Tools article on Belbin’s team roles and answer the following
questions:
Mind Tools n.d., ‘Belbin’s Team Roles’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/pages/article/newLDR_83.htm>.
1. Belbin identified nine (9) team roles and categorised those roles into
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three (3) groups: action oriented, people oriented, and thought
oriented. Briefly describe each of the nine (9) types listed in the article.

2. Which of these roles do you think most closely aligns to your

personality? Can you identify colleagues (present or past) who fulfil the
other team roles?
3. How might this information assist you to work more effectively in

a team?
Further resources: Effective teams

• Belbin Associates n.d., Belbin team roles, Belbin Associates,
<http://www.belbin.com/about/belbin-team-roles>.
• Heathfield, SM n.d., 12 tips for team building, About.com,
<http://humanresources.about.com/od/involvementteams/a/twelve_ti
p_team.htm>.
2-1.46 CIVMB_BS_T2-1_v3
8 Feedback
8.1 What is feedback?

Feedback is information or criticism given with the intention of improvement. In a work
situation, feedback can be:
• informal, for example, casual comments on work performed
• formal, for example, performance review
• positive, for example, thanks, praise or rewards for a job well done
• negative, for example, formal warnings or performance management when a
person’s performance is not adequate.
Positive feedback
Everyone welcomes positive feedback. People like to receive it and give it.
When genuine, positive feedback can build confidence and be a very good motivator for
work performance.
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Negative feedback
Although potentially of equal or greater value, negative feedback is more difficult to
deal with.
Despite resistance to negative feedback, it is still more likely to be accepted and viewed
as constructive feedback and not just criticism if it:
• comes from a credible and respected source
• is accompanied by data to support the feedback
• is presented in an objective way
• is accompanied by suggestions for improvement.
8.2 Why is feedback important?

Feedback is an essential part of learning and an important way to assist another person
to improve their performance.
8.3 Assess your ability to give feedback

Many people avoid giving feedback. This may happen for a number of reasons:
• Some people do not like confrontation.
• Some people just want to be liked and do not realise the value of constructive
feedback to others. Most people want and will act on such feedback.
• Many people do not know how to give feedback.

Apply your knowledge 20: Assess your ability to provide

feedback
Take a moment to assess your ability to provide feedback using the quiz
provided in the following article:
Mind Tools n.d., ‘How Good is Your Feedback’, Mind Tools,
<https://www.mindtools.com/pages/article/feedback-quiz.htm>.
1. Note your quiz score and any suggested ways to improve your ability to
give feedback.
2. Plan how you can implement improvements to your ability to

give feedback.
2-1.48 CIVMB_BS_T2-1_v3
8.4 Providing effective feedback

Effective feedback needs to be specific and timely. Feedback may provide:
• an evaluation of how well the action or task was performed
• guidance as to how performance can be improved.
Give feedback on how individuals are contributing to the team’s performance as well as
how the team is performing.
Preparing to give feedback

Plan the feedback you will give. Plan what you are going to say by reviewing
documentation and preparing notes.
Giving feedback
Consider the following guidelines:
• Ensure that your feedback contains positive aspects of the individual’s performance,
not just the areas needing improvement.
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• Ensure the feedback has a positive intent.
• Establish an appropriate environment in which to give the feedback where you can
both share information in a positive, objective, constructive and realistic way,
focusing on the future rather than dwelling on the past.
• Be open, honest and tactful, focusing on the stated and documented requirements of
the job.
• Describe specific issues and not just generalities.
• Do not make judgements about the individual’s personality. Focus comments on
observable, job-related skills and abilities.
• Listen actively to the individual, using appropriate body language, paraphrasing and
summarising key points.
• Be encouraging and end on an optimistic note with a clear action plan and action
steps.
After the feedback

Keep a record of the issues discussed during the feedback session and the action plan
agreed to. Ensure that you take appropriate follow-up action and review progress
against the action plan.

Apply your knowledge 21: Giving feedback

Read the following Mind Tools articles on giving feedback and then answer
the following questions:
• Giving feedback:
Mind Tools n.d., ‘Giving Feedback’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/pages/article/newTMM_98.htm>
• The situation–behaviour–impact feedback tool:
Mind Tools n.d., ‘The Situation-Behaviour-Impact Feedback Tool’,
<https://www.mindtools.com/pages/article/situation-behavior-impact-
feedback.htm>.
1. What are the suggested rules for giving effective feedback?
2. Describe the situation–behaviour–impact feedback tool.
2-1.50 CIVMB_BS_T2-1_v3
Apply your knowledge 22: Providing effective feedback to a

team member
Michael is a call centre home loan customer service manager for a portfolio
of valuable clients. His relationship and customer contact skills are
excellent. He is well liked and respected by the other team members.
He thoroughly enjoys his job and regularly exceeds his performance and
objectives. He is a valued member of your team.
However, Michael does not like any type of administrative task,
much preferring to deal with his clients. A recent compliance audit has
highlighted that within Michael’s portfolio, the quality of the client records
do not meet the required standards. Most of these records do not include
adequate or any type of notes supporting or analysis demonstrating the
reasons why actions were taken regarding the client’s accounts.
The compliance department advises you that Michael has failed the audit
because of the quality of his records. They have given you a list of action
items to be undertaken to address the situation within the next month.
They have warned you that if shortcomings are not rectified,
Michael’s position may be in jeopardy.
1. How would you prepare to give Michael this feedback?
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2. How should you provide this feedback to Michael?
3. What should you do after the meeting?

8.5 Formal and informal feedback

Formal feedback is usually a part of the performance review process. However, informal
feedback and ongoing communication with managers and team members should not
be ignored.
Apply your knowledge 23: Formal and informal feedback

Answer the questions below about formal and informal feedback in
your workplace.
1. What ways and at what times do you get formal feedback about
your performance?
2. What ways and at what times do you get informal feedback about
your performance?
3. Summarise at least some of the feedback you have received in the

last 12 months and outline the steps you have taken in response to
this feedback.
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8.6 360-degree feedback

Traditionally feedback tends to follow a top-down approach, that is, feedback comes
from a manager to a subordinate. The process of 360-degree feedback involves
collecting feedback about a person or a topic from a range of persons within a work
environment including:
• the feedback recipient, if applicable
• subordinates, direct reports or team members
• peers or colleagues
• supervisors, line manager or team leader
• other managers including executive managers
• external parties such as customers or suppliers.
The practice of 360-degree feedback helps employees understand the impact of
their behaviour on others and on the business and encourages a culture of
open communication.
Further resources: Feedback techniques

• Dhavale, G 2013, Performance feedback examples, Buzzle.com, 19 June,
viewed 13 March 2017, <http://www.buzzle.com/articles/performance-
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feedback-examples.html>.
• 360 feedback — What is a 360 degree feedback survey and how does it
work? 2008, online video, STAR 360 feedback, 15 July,
<https://www.youtube.com/watch?v=OXJkP13xACg>.
• Halford, S n.d., Five steps for giving productive feedback, Entrepreneur,
<http://www.entrepreneur.com/article/219437>.
• A variety of links to Mind Tools articles on giving and receiving feedback,
<https://www.mindtools.com/page8.html#feedback>.
8.7 Handling difficult or sensitive situations

Conflict can occur in the workplace, as a natural consequence of people interacting with
each other. It may be necessary to:
• deal with or mediate conflict in the workplace
• manage persons demonstrating problematic behaviour
• have difficult conversations or provide feedback to people who are not performing
adequately — for more information, see ‘Being a part of a team’ in Part 2, section 6.
This section provides some guidance on how to handle difficult workplace situations
with tact.

Apply your knowledge 24: Being tactful

Read the following Mind Tools article on being tactful and then answer the
following questions:
Mind Tools n.d., ‘How to be Tactful’, Mind Tools, viewed 13 March 2017,
<https://www.mindtools.com/pages/article/tactful.htm>.
1. According to the article, what is tact and when is it important?
2. What are the suggested strategies to communicate with tact?
3. Think of times in your professional or personal life when you could have
acted more tactfully. What do you think was the reason? How can you
improve this in the future?
Note: You can access ‘Suggested answers’ for Questions 1 and 2 at the end of this topic.
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9 Problem solving
Problem solving is a key skill in any professional’s career. You may be required to solve
problems alone or you may find that you need to solve problems alongside members of
your team.
Not all problems have a solution — sometimes there is nothing you can do to reach a
successful outcome.
There are as many approaches to problem solving as there are problems.
However, a basic approach to problem solving is discussed below.
Approach to problem solving

The diagram below shows an approach to problem solving.
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The first step is to define the problem in as much detail as possible. Investigate the
cause of the problem. This may require root cause analysis. Rather than just solving the
symptoms of the problem, you need to get to the very basis or cause of the problem.
Once you have established the definition of the problem, generate as many responses or
possible solutions to the problem as possible. At this stage, do not try to filter or censor
any of the solutions. Be as creative as possible.

Once you have possible solutions, remove obviously poor or impractical solutions.
Examine each possibility with an open mind. Think through the consequences of these
possible solutions.
Select the best option for a solution and work towards implementation of the solution.
Monitor the solution once implemented to determine its effectiveness or efficacy. If the
solution proves less than successful or if there are unexpected consequences to the
solution, this is an opportunity to review. Thus, the problem-solving process becomes an
iterative process, with the previous solution feeding into the next problem to be solved.
Further resources: Problem solving

• A variety of articles on problem-solving techniques,
<https://www.mindtools.com/pages/main/newMN_TMC.htm>.
• Malouff, J n.d., ‘Over fifty problem solving strategies explained’,
University of New England, viewed 13 March 2017,
<http://www.une.edu.au/about-une/academic-schools/bcss/news-and-
events/psychology-community-activities/over-fifty-problem-solving-
strategies-explained>.
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Part 3: Managing a team

Effective team management is an essential skill in almost every field of work. A team can
be as small as two people and as large as entire departments or companies.
Effective team managers possess several qualities. This section covers some of these
skills and competencies.
10 Acting as a role model

BusinessDictionary.com (2015) defines a role model as:
… an individual who is looked up to and revered by someone else. A role
model is someone who other individuals aspire to be like, either in the
present or in the future.
Mahatma Gandhi said ‘You must be the change you wish to see in the world’. This is also
true of a team leader being a role model for his or her team. If you want your team to be
ethical, motivated, successful and passionate, these are the values and the behaviours
that you also need to demonstrate in your work and daily life.
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Consider the following:
• As a member of the financial services industry, it is particularly important to
demonstrate ethical behaviour and attitudes and to comply with recommended
codes of conduct for the industry.
• It is important to both espouse and adhere to a clear set of values and behaviours.
• Treat customers politely and ethically at all times.
• Conduct your own business and personal affairs adhering to the highest levels of
expected conduct.
• To motivate and inspire your team, demonstrate passion and enthusiasm for
your work.
• Show your commitment and support your team members, especially if morale is
down for some reason.
• Provide incentives and motivation to succeed. Even with small gestures of
appreciation such as a public thank you to a team member can be encouraging in
difficult times.
• Celebrate victories together. Be open and generous with praise.
• Demonstrate resilience and the ability to overcome obstacles.
Further resources: Team leader as a role model

• A variety of team building articles and ideas, viewed 13 March 2017,
<http://www.managementstudyguide.com/team-building-articles.htm>.
• Management Study Guide (MSG) n.d., ‘Role of team leader in team
building’, MSG, viewed 13 March 2017,
<http://www.managementstudyguide.com/role-of-team-leader.htm>.

11 Mentoring
Mentoring is a partnership between two people (mentor and mentee) normally working
in a similar field or sharing similar experiences.
The mentor is a guide who can help the mentee to find the right direction and who can
help them to develop solutions to career issues. Mentors typically have had more
experience and provide support and advice.
The mentoring relationship is based on mutual trust and respect, and can be rewarding
to both people, personally and professionally.
Further resources: Mentoring

Mind Tools articles about mentoring:
• Mind Tools n.d., ‘Mentoring: An Essential Leadership Skill’, Mind Tools,
• Mind Tools n.d., ‘Mentoring: A Mutually Beneficial Partnership’,
Mentoring programs:
• Australian Businesswomen’s Network mentoring program,
viewed 13 March 2017, <http://herbusinessmentor.com>
• Financial Executives Institute of Australia (FEI) mentoring program,
viewed 13 March 2017, <https://www.fei.org.au/mentoring>
MFAA mentoring program, viewed 13 March 2017,
<https://www.mfaa.com.au/JointheMFAA/Pages/Mentoring.aspx>.
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12 Team leadership and management
12.1 Team development

Teams may come together from different backgrounds — individuals may be of different
ages, have different skills and have different experiences. The Forming, Storming,
Norming, Performing model of group development was first proposed by
Bruce Tuckman in 1965.
• Stage 1: Forming — individuals may be strangers to each other, anxious and possibly
formal towards each other. The team needs to clarify and commit to its goals.
Team members gradually get to know each other.
• Stage 2: Storming — team members are eager. Conflict may arise when people have
different ideas of how to accomplish goals. Some people may elect to leave the
group. Communication, recognising and publicly acknowledging accomplishments
and participation in the team become important.
• Stage 3: Norming — people begin to recognise ways in which they are alike.
Team members may socialise together and feel more comfortable with each other.
There is a greater ‘we’ than ‘I’ feeling. Training may be important in this time to
refine skills and knowledge.
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• Stage 4: Performing — the team is mature. Team members understand their roles
and responsibilities and are trained and competent. Encourage growth and the
search for new challenges.
Further resources: Team development

Forming, Storming, Norming, and Performing:
Mind Tools n.d., ‘Forming, Storming, Norming and Performing’, Mind Tools,
12.2 Team management

Team managers have responsibilities to the team. These include:
• Leadership and direction: Managers need to provide clear goals and objectives to
the team on a short- and long-term basis.
• Planning: Managers need the ability to plan and provide work to the team ensuring
that team members have challenges and tasks to complete without being
overwhelmed.
• Removal of obstacles: Managers need to remove any obstacles preventing the team
from achieving its goals. For example, this might mean providing technological
solutions, removing bureaucratic red tape or providing access to resources.
• Motivation and support: Managers need to motivate and support team members to
achieve their best.
• Delegation: Managers need to be able to divest responsibilities to trusted team
members.
• Communication: Managers must clearly communicate to team members to outline
goals, explain changes, update progress or change priorities when required.

• Professional development: Managers need to ensure that team members have

access to appropriate professional development opportunities and suitably
challenging tasks to stretch their abilities.
• Discipline: When required, managers need to be able to deal with poor behaviour or
attitudes from team members.
Apply your knowledge 25: Team management

Read the article below on team management skills and answer the
Mind Tools n.d., ‘Team Management Skills’, Mind Tools,
<https://www.mindtools.com/pages/article/newTMM_92.htm>.
1. What is delegation and why is it important?
2. What are some of the things that motivate people to perform at work?
3. What are some of the ways that a team leader can develop the skills of
the team members?
2-1.60 CIVMB_BS_T2-1_v3
13 Planning
Planning is the process of thinking about and organising the activities required to
achieve a desired goal. Planning is a critical management function, and team leaders
and managers may need to be able to plan in a number of challenging situations.
13.1 Work planning

Managers need to plan work for their team on a short-term basis (i.e. be able to provide
work tasks so that each team member has appropriate quantity and type of tasks to
achieve on perhaps a daily or weekly basis).
Ensuring that a work team is gainfully employed sounds deceptively simple but in
practice is often mishandled or not given adequate thought. It may involve:
• understanding the size, nature and scope of the work that needs to be completed —
work demand may be driven by a variety of things such as:
– customer requirements
– organisational goals
– regulatory requirements
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– meeting financial or other targets
• estimating work effort
• prioritising work
• allocating work to team members on the basis of:
– the skills, qualifications or experience of the team member
– urgency
• checking progress to ensure work is on track for timely completion
• accounting for completed work
• taking steps to deal with situations when work cannot be completed on time or to an
acceptable level of quality — this may involve:
– working to remove obstacles or road blocks
– identifying and allocating additional resources
– working with team members to replan and reprioritise work
– managing internal or external customer expectations.

Apply your knowledge 26: Planning and estimating

time accurately
Read the article below on estimating time accurately and answer the
Mind Tools n.d., ‘Estimating Time Accurately’, Mind Tools,
<https://www.mindtools.com/pages/article/newPPM_01.htm>
1. What are the steps suggested for estimating time accurately?
2. List and briefly describe the suggested methods for estimating time.
Further resources: Work planning

Daily management planning and implementation, viewed 13 March 2017,
<http://www.velaction.com/daily-management>.
13.2 Developing team skills

Managers need to plan to develop the skills of their team members to assist them with
training and development and career path progression.
For more information, see ‘Professional development’ in Part 1, section 4.
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13.3 Plan projects

Managers may need to plan projects, or plan discrete and unique sets of tasks with a
particular aim. Projects range from small and simple undertakings involving a small
number of participants, to large and complex activities involving many people with a
variety of skills, multiple resources and extensive time frames.
Planning and managing projects, particularly large projects, is a complex skill.
Many project management methodologies have evolved to assist project managers to
deliver outcomes on time and on budget.
Further resources: Plan projects

Useful project management websites:
• Project Management Institute, viewed 13 March 2017,
<http://www.pmi.org>.
• ProjectManagement.com (formerly Gantthead),
viewed 13 March 2017, <http://www.projectmanagement.com>.
• ProjectsAtWork, viewed 13 March 2017,
<http://www.projectsatwork.com>.
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13.4 Business and organisational planning
For small business, business planning is required to secure finance for a business,
to secure investors and to clearly determine the benchmarks for business success.
Business planning creates a roadmap for the business’s direction and future.
This may involve:
• investigating the industry, market and competitors
• identifying what market your business is in and the intended business direction
• identifying strengths, weaknesses, opportunities and threats to the business
• identifying challenges to the business and strategies to avoid or overcome them
• planning the business finances, including managing cash flow
• setting specific short- and long-term business goals and time frames for
achieving them
• determining how to measure performance.
In larger organisations, planning may focus on different aspects of the wider business
including:
• Workforce planning: This type of planning looks at current and future organisational
demand, as well as regulatory requirements and organisational objectives, and
matches the type and number of human resources required to meet this demand.
• Strategic planning: Where an organisation reviews its future short-, medium- and
long-term goals and plans its strategy or direction to achieve these goals.
• Safety planning: A plan to achieve workplace safety goals or objectives.
Many larger organisations will also develop business plans based on work units,
departments or groups.

Further resources: Business and organisational planning

• Business plan template and guide, viewed 13 March 2017,
<http://www.business.gov.au/business-topics/templates-and-
downloads/business-plan-template-and-guide/Pages/default.aspx>.
• Australian Public Service (APS) workforce planning guide and templates,
viewed 13 March 2017, <http://www.apsc.gov.au/publications-and-
media/current-publications/workforce-planning-guide>.
• Balanced Scorecard Institute n.d., ‘What is strategic planning?’,
Strategy Management Group, viewed 13 March 2017,
<http://balancedscorecard.org/Resources/Strategic-Planning-Basics>.
14 Change management and technology

It is a truism that ‘change is the only constant’. However, there is no doubt that the pace
of change is increasing in all our lives, and that the rate of change is exponential.
Change may be experienced in an organisation due to:
• advances in technology
• changes in legislation or regulation
• a strategic change in an organisation’s vision or mission
• competition from rival organisations.
Change management is a structured approach for ensuring that changes are
understood, planned, developed and implemented promptly to cause as little disruption
as possible to the functioning of the business. Change management programs typically
incorporate:
• communication about the change to ensure that the target population is informed
about what is happening
• stakeholder management
• training to ensure that the target population can use the new technology, system,
policy or procedure effectively
• a person or a team of people involved in the:
– planning and management of the change
– the preparation and development of the change itself, whether it is new
technology, a new system, new policy or new procedure
– implementation of the change.
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Apply your knowledge 27: Change management

Read the article below on change management and answer the
Mind Tools n.d., ‘Change Management’, Mind Tools,
<https://www.mindtools.com/pages/article/newPPM_87.htm>.
1. What is change management? What does it cover?
2. During your working life, what different technologies have you seen
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implemented? How were they implemented? Was the change
successful?
3. From your own experience of workplace change, what do you think are
the most important aspects of change management?

Further resources: Change management and technology

• Australian Broker Online n.d., ‘Managing change for success’,
online interview with John Kolenda, Australian Broker Online,
viewed 13 March 2017, <http://www.brokernews.com.au/tv/managing-
change-for-success-183923.aspx>.
• Macartney, W n.d., ‘Technology and business strategy’,
Australian Broker Online, viewed 13 March 2017,
<http://www.brokernews.com.au/tv/technology-and-business-strategy-
181564.aspx>.
15 Performance appraisals
Performance appraisals (PAs) are part of the ongoing workplace communication that
helps people to perform well. It provides an impartial consideration of performance and
a sound basis for dealing fairly and equitably with employees, and protecting them from
arbitrary decisions.
Performance management aligns individual employees’ goals and measures of success with
the organisation’s strategic and business plans. Formal PAs and informal performance
feedback are two important elements of the performance management process.
15.1 What does a PA cover?

PAs provide the opportunity employees need and want for regular comprehensive
feedback on how their manager sees their performance.
PAs:
• look backwards to review past performance, including:
– what the employee did well
– what needs improving
– which skills and behaviours need strengthening
– mistakes that were made
– what can be learned
• make improvements, including how to:
– alter the job to make it easier or more efficient
– streamline the job or remove obstacles
– eliminate difficulties
• look to the future, including:
– aligning individual goals with overall company goals
– clarifying expectations of future results
– setting new goals for the employee
– identifying training and development required to achieve goals
– identifying new challenges, additional duties or new career directions.
PAs are usually conducted over a six or 12-month cycle. The employee’s immediate
manager conducts the PA. The manager’s superior reviews the results of the PA.
The human resources manager may review PA results to ensure consistency.
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Companies assess different skills and abilities depending on the job and employee
profile, however, some of the areas to be covered in a PA may include:
• employee’s skills and abilities, such as the ability to:
– make decisions
– collaborate and work as a team member
• employee’s workplace record, including:
– attendance and punctuality
– commitment to safety
– dependability
– job knowledge
– quality of work
– output
– project involvement
• the employee’s career direction
• the employee’s training and development needs.
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16 Managing underperformance
Disappointing performance may not be the employee’s fault. The causes of poor
performance and low productivity may include:
• unclear workplace performance standards
• unclear or undocumented workplace procedures
• inefficient, ineffective or poorly constructed workplace procedures
• misunderstood performance standards
• poor job design
• a mismatch between the employee and the skills, knowledge or experience required
for the job
• an inability to perform work-related tasks to the level required
• a lack of training opportunities
• a lack of training facilities or appropriate training materials
• a poor learning environment
• a lack of appropriate workplace facilities
• faulty tools or equipment
• a lack of time or resources to complete the job to the appropriate standard
• poor teamwork or collaboration
• poor management or team leadership including:
– ‘micromanagement’ or not allowing employees the freedom or discretion to make
work-related choices
– a lack of direction or guidance
– a poor attitude to employees or team members
• intrapersonal conflict between workers
• workplace bullying or harassment
• a workplace culture where people are not respected or valued.

Apply your knowledge 28: Managing poor performance

Read the document below and answer the following questions.
Fair Work Ombudsman 2013, Best practice guide: managing
underperformance, Australian Government, viewed 13 March 2017,
<http://www.fairwork.gov.au/About-us/policies-and-guides/Best-practice-
guides/managing-underperformance>.
1. What is underperformance?
2. What is the difference between underperformance and misconduct?
3. What are the reasons given in the guide for workplace

underperformance?
4. What are the suggested steps to handling underperformance?
2-1.68 CIVMB_BS_T2-1_v3
Further resources: Managing poor performance

• A range of policy and guidelines on workplace issues and managing
poor performance, viewed 13 March 2017,
<http://www.fairwork.gov.au/About-us/policies-and-guides/best-
practice-guides>.
• A range of templates for managing workplace issues,
<http://www.fairwork.gov.au/About-us/policies-and-guides/templates>.
• A range of free, interactive, online courses covering handling poor
workplace performance and having difficult conversations in the
workplace, viewed 13 March 2017, <http://www.fairwork.gov.au/how-
we-will-help/online-learning-centre>.
• Tools and resources for small business related to fair work and work
conditions, viewed 13 March 2017,
<http://www.fairwork.gov.au/find-help-for/small-business>.
16.1 Terminating employment

Dismissing employees is always unpleasant but there are four reasons it might
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be necessary:
• The employee’s performance continually fails to meet the required standard over a
reasonable period of time.
• The employee is found guilty of misconduct such as theft, resulting in
summary dismissal.
• The employee’s job is redundant or no longer required.
• There is insufficient work for the employee.
Regardless of the reason for termination, there are some very specific actions that you
will need to take and processes you must follow before considering terminating
employment. The person being terminated will need plenty of support and you must
refer to your human resources specialist and your own manager before taking any
action.

Apply your knowledge 29: Terminating employment

Read the document below and answer the following questions.
Fair Work Ombudsman 2013, Best practice guide: managing
underperformance, Australian Government, viewed 13 March 2017,
<www.fairwork.gov.au/About-us/policies-and-guides/Best-practice-
guides/managing-underperformance>.
1. When is termination of employment an option?
2. What are the suggested guidelines for dismissing an employee?
3. What are the special dismissal arrangements for employers with fewer
than 15 employees?
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Part 4: Working in an organisation

Working in an organisation requires that you are aware of and understand your
role within:
• the organisation’s vision and mission statement, encapsulating the direction and
goals of the organisation
• organisational structure
• internal policies, procedures and systems.
17 Vision and mission statement

Organisations typically develop and publish mission and vision statements to:
• state their attitudes, values and goals
• provide a guideline for good behaviour as good corporate citizens
• inspire and motivate employees.
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17.1 Mission statement
According to BusinessDictionary.com (2015), a mission statement is:
… a written declaration of an organisation’s core purpose and focus that
normally remains unchanged over time. Properly crafted mission statements
1. serve as filters to separate what is important from what is not,
2. clearly state which markets will be served and how, and
3. communicate a sense of intended direction to the entire organisation.
17.2 Vision statement

According to BusinessDictionary.com (2015), a vision statement is:
… an aspirational description of what an organisation would like to achieve
or accomplish in the mid-term or long-term future. It is intended to serves as
a clear guide for choosing current and future courses of action.

Apply your knowledge 30: Vision and mission statements

Review the Mind Tools article below on mission and vision statements and
answer the following questions:
Mind Tools n.d., ‘Mission and Vision Statements’, Mind Tools,
1. What is the difference between a mission and a vision statement?
2. Research and collect at least two (2) mission and two (2) vision
statements from organisations in the Australian financial services
industry.
3. Imagine you owned your own mortgage broker organisation. Using the
tips in the Mind Tools article, develop a mission statement and a vision
statement for your organisation.
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18 Organisational structure
An organisational structure shows the hierarchy of an organisation, the different
groupings or departments and the reporting lines. The organisational structure is
normally expressed in a hierarchical diagram such as the example for a fictional
financial institution shown below.
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19 Internal policies and procedures
19.1 Policy
Policies are statements of principles, guidelines or rules about how things are done in an
organisation. Policy may:
• establish clear standards for acceptable behaviour
• provide goals and objectives
• acknowledge legal and regulatory responsibilities
• contribute to the culture of the workplace, reinforcing norms and values.
Examples of internal business policies include safety policy or human resources policy.

19.2 Procedure
Procedures are a set of steps that are performed to obtain a specified outcome.
The words procedure and process are often used interchangeably or may have specific
meanings within the context of an organisation.
All organisations have some kind of operational policies and procedures documentation
but there various levels of comprehensiveness, quality or currency across organisations.
19.3 Documentation of policy and procedure

All organisations have some level of documentation of internal policies and procedures.
Some organisations have detailed and comprehensive internal policies and procedures,
others less so.
Ideally, policies and procedures need to be:
• Accessible: All workers in the organisation need access to internal policies and
procedures. In large organisations, policies and procedures are commonly stored on
a corporate intranet that is accessible by all workers including contractors and
part-time workers.
• Comprehensive: Policies and procedures need to cover all aspects of work normally
carried out by an organisation. This includes:
– the step-by-step details of how to complete normal working tasks safely
and efficiently
– what to do when something goes wrong
– regulatory and compliance requirements
– responsible and accountable persons
– reporting
– dispute resolution processes.
• Accurate: Policies and procedures need to be accurately worded to ensure that
readers understand what is expected of them.
• Regularly reviewed: A number of events impact policy and procedure and require
changes. Particularly in the financial services industry, legislative and regulatory
changes affect, for example, the way work needs to be completed or the information
that must be provided to clients. Other reasons to regularly review and update
documentation are to include technology changes, software changes and to
implement more efficient ways of doing work. It is important that the procedures
documentation reflects what actually happens in the organisation.
• Compliant: All policy and procedures need to be compliant with relevant laws,
regulations and codes of practice. For more information about relevant legislation
and regulation, see ‘Topic 1-2: Legislation and codes of practice’.
2-1.74 CIVMB_BS_T2-1_v3
Apply your knowledge 31: Internal policy and procedures

1. Who has responsibility for managing and maintaining internal policy
and procedure documentation at your workplace? How often is this
internal documentation reviewed?
2. How comprehensive, accurate and accessible is the documentation?
2-1
3. Can you suggest ways this documentation could be improved?

19.4 Human resources

Human resources refers to the human capital of a business, that is, the persons who
work in the business to make it function. Human resources policies, procedures and
systems generally focus on:
• how those persons are employed
• conditions of employment, including salary and other benefits
• industrial relations
• management, training and career advancement of employees
• where appropriate, the conditions of employment termination.
The wider legislative and regulatory environment affects human resources policies and
procedures. However, a number of human resources policies and procedures are based
on internal business decisions.
Apply your knowledge 32: Human resources guidelines

Download and read section E of the ASIC Regulatory Guide RG 104
‘Licensing: Meeting the general obligations’ using the link below and
answer the following questions: <http://www.asic.gov.au/regulatory-
resources/find-a-document/regulatory-guides/rg-104-licensing-meeting-
the-general-obligations>.
1. As an employer with an AFS licence, what are your responsibilities
around managing employees?
2. As an employer with an AFS licence, what are your responsibilities

around hiring employees?
3. How closely should an employer with an AFS licence supervise

employees or representatives?
2-1.76 CIVMB_BS_T2-1_v3
Further resources: Working conditions

• For links on working conditions and legislation and regulation relating to
working conditions, viewed 13 March 2017,
<http://australia.gov.au/topics/employment-and-workplace/working-
conditions>.
• Information on wages, conditions and entitlements including the
National Employment Standards (NES), viewed 13 March 2017,
<http://www.business.gov.au/business-topics/employing-
people/wages-conditions-entitlements/Pages/default.aspx>.
References
Adair, J 2009, Effective communication: the most important management skill of all,
Pan Books, London.
BusinessDictionary.com 2015, viewed 13 March 2017,
<http://www.businessdictionary.com>.
Covey, SR 2004, The 7 habits of highly effective people, Simon & Schuster Ltd, New York.
2-1
Marr, B 2013a, The 75 KPIs every manager needs to know, LinkedIn, 5 September,
viewed 13 March 2017, <https://www.linkedin.com/pulse/20130905053105-64875646-
the-75-kpis-every-manager-needs-to-know>.
Whetten, DA & Cameron, KS 2004, Developing management skills, 6th edn,
Prentice Hall, New York.

Suggested answers
Apply your knowledge 1: Active listening

1. Active listening is where you make a conscious effort to hear not only the words that
another person is saying but, more importantly, try to understand the complete
message being sent. It involves paying attention to the other person very carefully.
Do not allow yourself to become distracted by whatever else may be going on
around you, or by forming counter-arguments that you will make when the other
person stops speaking.
Show the other person you are listening to them. Do not allow yourself to get bored
and lose focus on what the other person is saying.
2. (a) Pay attention: Give the speaker your undivided attention and acknowledge the
message. Recognise that non-verbal communication also ‘speaks’ loudly.
(b) Show that you are listening: Use your own body language and gestures to
convey your attention.
(c) Provide feedback: Reflect what is being said and ask questions.
(d) Defer judgement: Interrupting is a waste of time. It frustrates the speaker and
limits full understanding of the message.
(e) Respond appropriately: Active listening is a model for respect and
understanding. Be candid and respectful.
Apply your knowledge 2: Speaking in public

• plan appropriately
• practise
• engage with your audience, ask questions, do not speak too quickly and do not just
read from your notes
• pay attention to body language
• think positively, use affirmations and visualisation
• have strategies to cope with anxiety, such as deep breathing
• watch a recording of your speech to improve.
2-1.78 CIVMB_BS_T2-1_v3
Apply your knowledge 3: Questioning techniques

1. This technique involves starting with general questions, then homing in on a point in
each answer, and asking more and more detail at each level.
It is a useful technique to home in on an answer, find out more detail about a specific
point, or gain the interest or confidence of the other person.
2. • Asking your respondent for an example to help you understand a statement they
have made.
• Asking for additional information for clarification.
• Investigating whether there is proof for what has been said.
• Probing questions are useful to find out more detail or to get to the root of the
problem or issue.
3. • Adding a personal appeal to agree at the end.
• Phrasing the question so that the “easiest” response is “yes”.
• Giving people a choice between two options, both of which you would be happy
with, rather than the choice of one option or not doing anything at all.
• Leading questions try to lead the respondent to your way of thinking.
4. • learning
• relationship building
2-1
• managing and coaching
• avoiding misunderstandings
• defusing a heated situation
• persuading people.
Apply your knowledge 4: Non-verbal communication

1. Body language includes body movements and gestures (legs, arms, hands,
head and torso), posture, muscle tension, eye contact, skin colouring (flushed red),
even people's breathing rate and perspiration. Additionally, the tone and pitch of
voice and the rate of speech all add to the words that are being used.
2. The confident person:
• stands tall with shoulders back
• makes eye contact and displays a smiling face
• displays purposeful and deliberate gestures with hands and arms
• has slow and clear speech
• has a moderate-to-low tone of voice.
3. • Use these cues to understand whether your message is getting across to a
listener, or to stop a conversation or presentation to question listeners
directly about their response if you feel that you have not been successful in
your communication.
• Adopting confident gestures can help you to appear confident even if you do not
feel confident inside.
• Assist in determining whether someone is lying.
• Assist in negotiations and interviews.

Apply your knowledge 5: Writing skills

1. Determine the audience for the message and the level of formality required. This will
help to determine your writing ‘voice’ or tone.
2. • Keep the audience in mind. What do they need to know first?
• Create an outline — identify which steps to take in which order and how to break
the task up into manageable pieces of information.
• Use the Attention-Interest-Desire-Action (AIDA) formula.
• Be empathetic — remember your audience's needs at all times.
• Use the rhetorical triangle: If you are trying to persuade someone to do
something, make sure that you communicate why people should listen to you,
pitch your message in a way that engages your audience and present information
rationally and coherently.
• Identify your main theme or contention.
• Use simple language.
• Structure your communication — use headings, subheadings, bullet points and
numbering whenever possible to break up the text.
• Add diagrams or charts if required.
• Avoid grammatical and spelling errors — use the spelling and grammar checking
facilities of the word processor.
• Proofread your completed document.
Apply your knowledge 6: Presentations

• Mistake 1: Not preparing enough, sometimes the most apparently impromptu
presentations are carefully prepared.
• Mistake 2: Not familiarising yourself with the venue and equipment — be familiar
with the technology and the venue well in advance.
• Mistake 3: Ignoring your audience — engage with the audience and do not forget
their needs.
• Mistake 4: Using inappropriate content — research your audience and pitch
the presentation at their needs, do not use unfamiliar jargon, and engage with
the audience.
• Mistake 5: Being too verbose — be short, succinct and precise.
• Mistake 6: Using ineffective visuals — ensure that the slides reflect what you are
saying in both meaning and tone, use high-quality graphics, and avoid clutter and
garish colours.
• Mistake 7: Overcrowding text — keep the text simple and concise, use bullets,
keep the number of slides to a minimum.
• Mistake 8: Speaking incoherently — do not rush your presentation. If you are
nervous, use deep breathing or other relaxation techniques.
• Mistake 9: Showing a lack of dynamism — show you feel confident and comfortable,
use gestures and appropriate body language.
• Mistake 10: Avoiding eye contact — meet the eyes of members of the audience to
keep them engaged.
2-1.80 CIVMB_BS_T2-1_v3
Apply your knowledge 7: Running effective meetings

Have a clear meeting objective, for example:
• Do you want a decision?
• Do you want to generate ideas?
• Are you getting status reports?
• Are you communicating something?
• Are you making plans?
Use the time wisely. Create a meeting agenda covering the following:
• Priorities — what absolutely must be covered?
• Results — what do you need to accomplish at the meeting?
• Participants — who needs to attend the meeting for it to be successful?
• Sequence — in what order will you cover the topics?
• Timing — how much time will you spend on each topic?
• Date and time — when will the meeting take place?
• Place — where will the meeting take place?
Use the agenda as a time guide, start on time and ensure that people keep to the
allotted time for each item.
2-1
If certain people are dominating the conversation, make a point of asking others for
their ideas.
At the end of each agenda item, quickly summarise what was said, and ask people to
confirm that it is a fair summary. Then make notes regarding follow-up.
Note items that require further discussion.
Watch body language and make adjustments as necessary. Maybe you need a break or
you need to stop someone from speaking too much.
Ensure the meeting stays on topic.
List all tasks that are generated at the meeting. Make a note of who is assigned to do
what, and by when.
At the close of the meeting, quickly summarise the next steps and inform everyone that
you will be sending out a meeting summary.
Apply your knowledge 8: Assess your time management

capabilities
This activity requires independent research, therefore, no suggested answers are provided.
Apply your knowledge 9: The Pareto principle and time

management
This activity requires independent research, therefore no suggested answers are provided.

Apply your knowledge 10: Identifying and overcoming

time wasters
Some suggested answers are provided below. These are by no means exhaustive.
Time waster What I can do about it
Interruptions • Set aside time for concentration on important or detailed tasks, and do not allow
minor interruptions (for example, do not respond to emails or messages during
this time)
• Allocate time in your day to complete urgent but relatively minor tasks
• Identify which tasks are important and urgent, say ‘no’ to non-urgent and
non-important tasks
Ineffective meetings • Volunteer to chair the meeting

• Create a meeting objective and agenda or insist on the chairperson creating
an agenda
• Ensure that the meeting starts punctually and time limits are followed
• Send out documents for pre-reading if required, with plenty of time for people
to review before the meeting
• Create a meeting protocol to ensure that all participants can contribute
• Focus on items in the meeting that require the interaction of all participants —
allocate tasks that can be completed outside of the meeting to be completed
before the next meeting
Procrastination • Recognise that you are procrastinating and try to determine why you are unable
to move forward
• Create ‘to-do’ lists and prioritise tasks, ensuring that you allow some time in your
day for important tasks
• Set your own deadlines for tasks
• Identify the unpleasant consequences of not doing a task
• Adopt better decision-making techniques
Lack of planning or • Prioritise tasks

prioritisation • Allocate time in your day accordingly
• Write down everything you hope to achieve and assign a set time to do so,
based on importance
• Do not move on to the next task until you have completed the previous one
• Force yourself to finish something within the time allotted
Apply your knowledge 11: The time management matrix and

your work activities
2-1.82 CIVMB_BS_T2-1_v3

1. Caroline might find herself stressed and anxious, taking on other people’s worries.
She might feel frustrated by long hours at work and feel that she has not enough
time or energy to devote to her own personal life, family or friends.
2. Perhaps Caroline can allocate some of her day to being with colleagues and giving
her time to others. However, when she is working, she needs to learn to say no to
colleagues who want to chat, or make time to see them when she is less busy.
3. Caroline needs to be more assertive in her relationships, politely but firmly saying
‘no’ when she is too busy to discuss personal matters. She needs to manage her time
more carefully, so she can accomplish work tasks in the allocated time and avoid
working back late.

1. Explain the situation to his manager immediately. Provide all the details of the loan
proposal to his manager, so that another member of staff can take over the work and
assist the customer.
2. Michael should have asked for help from his manager or more experienced colleagues
to assist him as soon as he realised he was unable to assess the loan application.
3. The customer may not be able to bid at auction if the loan application cannot be
2-1
assessed in time by bank staff. Consequently the customer may be angry, and possibly
end his or her accounts. In addition, the customer may publicly complain about the
bank’s poor customer service, using social media or other means, thus damaging the
bank’s brand and reputation. There may also be disciplinary consequences for Michael.
Apply your knowledge 14: The Johari Window

• For personal growth and increased self-awareness.
• To build trust with team members and improve communication.
• To understand the behaviour of others.
• To provide feedback about work performance and capabilities to other team members.
• To receive feedback about your own work performance.
Apply your knowledge 15: Emotional intelligence

1. Emotional intelligence is the ability to recognise your emotions, understand what
they are telling you and realise how your emotions affect people around you.
Emotional intelligence also involves your perception of others — when you
understand how they feel, this allows you to manage relationships more effectively.
2. • Self-awareness: The ability to understand your own emotions, know your
strengths and weaknesses.
• Self-regulation: The ability to control emotions and impulses.
• Motivation: People who are willing to defer immediate results for long-term
success are highly productive, love a challenge, and are very effective in whatever
they do.
• Empathy: The ability to identify with and understand the wants, needs and
viewpoints of those around you.
• Social skills: Typically, team players are able to help others develop and shine.
They can manage disputes, are excellent communicators and are good at building
and maintaining relationships.

Apply your knowledge 16: Establishing life goals

• Create the big picture of what you want to do with your life (or over, say, the next
10 years) and identify the large-scale goals that you want to achieve. Then separate
these into increasingly smaller targets that you must hit to reach your lifetime goals.
• Use the SMART goal-setting guidelines.
• State each goal as a positive statement.
• Set precise goals, inserting dates, times and amounts so that you can measure
achievement.
• Set priorities.
• Write goals down.
• Keep operational goals small.
• Set performance goals, not outcome goals.
• Set realistic goals.
Apply your knowledge 17: A professional training and

development plan
Apply your knowledge 18: Being part of a successful team

Apply your knowledge 19: Your role in a team

Belbin identified nine team roles and categorised those roles into three groups:
action oriented, people oriented, and thought oriented. Briefly describe each of the
nine types listed in the article.
Action oriented:
• shaper — challenges the team to improve
• implementer — puts ideas into action
• completer–finisher — ensures thorough, timely completion.
People oriented:
• coordinator — acts as a chairperson
• team worker — encourages cooperation
• resource investigator — explores outside opportunities.
Thought oriented:
• plant — presents new ideas and approaches
• monitor–evaluator — analyses the options
• specialist — provides specialised skills.
2-1.84 CIVMB_BS_T2-1_v3
Apply your knowledge 20: Assess your ability to provide

feedback
Apply your knowledge 21: Giving feedback

1. • try to make it a positive process and experience
• be timely
• make feedback a regular process
• prepare your comments
• be specific
• criticise in private
• use ‘I’ statements
• limit your focus
• talk about positives
• make specific suggestions
• follow up
2-1
2. • Outline the situation — when you are giving feedback, first define the where and
when of the situation you are referring to. This puts the feedback into context and
gives the other person a specific setting as a reference.
• Describe the specific behaviour you want to address. Use your own observation
and do not make assumptions about the behaviour.
• Describe the impact of this behaviour. Use ‘I’ statements. Encourage the other
person to think about the situation and to understand the impact of his or
her behaviour.
Apply your knowledge 22: Providing effective feedback to a

team member
1. Collate examples of Michael’s client records and notes. Find a number of acceptable
client record and notes. Have a list of all the shortcomings at hand in preparation for
the meeting.
2. You should arrange for the meeting to take place in a private setting. Reinforce to
Michael that he is considered a valued member of the team and that, for the most
part, you are satisfied with his performance. Be open about the shortcomings but be
firm that they must be addressed. Encourage Michael to discuss the findings and
participate in an appropriate action plan. Discuss the consequences if his client
records and notes do not improve. Provide support to Michael and determine if there
are any skills gaps that can be addressed to assist Michael.
3. Record the events of the meeting and proposed action plan to address the issues.
Give Michael a copy of this. Take appropriate follow-up action and review progress.
Seek and provide ongoing feedback on Michael’s progress and monitor this against
the action plan.
Apply your knowledge 23: Formal and informal feedback


Apply your knowledge 24: Being tactful

1. Tact is the ability to tell the truth in a way that considers other people’s feelings and
reactions. It allows you to give difficult feedback, communicate sensitive information,
and say the right thing to preserve a relationship.
Tact is important when you have to deliver bad news or provide critical feedback,
whether in personal or professional situations.
Communicating tactfully strengthens your reputation and builds your credibility.
It allows you to preserve existing relationships and build new ones.
Tact also demonstrates good manners.
Tact can help you to avoid conflict, find common ground and allow others to save
face. It can therefore be an important asset in negotiations and in conflict resolution.
2. • Create the right environment, and think before you speak.
• Determine the appropriate time.
• Choose words carefully.
• Take ownership of your feelings rather than placing blame.
• Be concise, honest and assertive.
• Monitor your body language.
• Never react emotionally, and calm down before responding.
Apply your knowledge 25: Team management

1. Delegation is the ability to give responsibility for a task to another, usually a
subordinate team member. Delegation is important because it:
• enables the team to achieve more
• provides opportunities to develop the skills and capabilities of other
team members
• fosters a feeling of trust.
2. Team members can be motivated by various things including:
• self-motivation, that is, wanting to do a good job for personal or internal reasons
• praise or appreciation
• incentives or rewards
• fear of punishment or retribution.
3. Team members can assist with professional development of team members through:
• feedback
• assessing the ability of a team member and suggesting professional development
activities such as training courses
• providing challenging tasks to team members
• supporting team members.
2-1.86 CIVMB_BS_T2-1_v3
Apply your knowledge 26: Planning and estimating

time accurately
1. • Understand what is required — identifying all of the work that needs to be
completed.
• Order the activities.
• Decide who you need to involve and brief them.
• Make estimates
– estimate a time for each activity
– list assumptions
– assume an 80% level of productivity
– do not be overly optimistic.
• Prepare a schedule or plan.
2. • Bottom-up estimating: Break larger tasks into smaller tasks, estimating the time
required for each task.
• Top-down estimating: Estimate the time required for the project as a whole and
then divide the available time according to tasks required.
• Comparative estimating: Consider the time it took to complete similar tasks.
• Parametric estimating: Look at the time required for one deliverable and multiply
2-1
it by the number of deliverables involved.
• Three-point estimating: Estimate time for best case, worst case and most
likely case.
Apply your knowledge 27: Change management

Change management is a structured approach for ensuring that changes are
understood, planned, developed and implemented promptly to cause as little disruption
as possible to the functioning of the business. It involves:
• sponsorship — ensuring there is active sponsorship for the change at a senior
executive level within the organisation, and engaging this sponsorship to achieve the
desired results
• buy-in — gaining buy-in for the changes from those involved and affected, directly or
indirectly
• involvement — involving the right people in the design and implementation of
changes to ensure the right changes are made
• impact — assessing and addressing how the changes will affect people
• communication — telling everyone who is affected by the changes
• readiness — getting people ready to adapt to the changes by ensuring they have the
right information, training and help.

Apply your knowledge 28: Managing poor performance

1. • Unsatisfactory work performance, that is, a failure to perform the duties of the
position or to perform them to the standard required.
• Non-compliance with workplace policies, rules or procedures.
• Unacceptable behaviour in the workplace.
• Disruptive or negative behaviour that impacts on co-workers.
2. Underperformance is not the same as misconduct. Misconduct is very serious
behaviour such as theft or assault which may warrant instant dismissal. In cases of
misconduct, employers should seek specific advice about how to proceed before
taking any action.
3. • an employee does not know what is expected because goals and/or standards or
workplace policies and consequences are not clear (or have not been set)
• interpersonal differences
• there is a mismatch between an employee’s capabilities and the job they are
required to undertake, or the employee does not have the knowledge or skills to
perform the job expected of them
• an employee does not know whether they are doing a good job because there is
no counselling or feedback on their performance
• lack of personal motivation, low morale in the workplace and/or poor work
environment
• personal issues such as family stress, physical and/or mental health problems or
problems with drugs or alcohol
• cultural misunderstandings
• workplace bullying.
4. • Step 1: Identify the problem.
• Step 2: Assess and analyse the problem.
• Step 3: Meet with the employee to discuss the problem, including:
– what the problem is
– why it is a problem
– how it impacts on the workplace
– why there is a concern.
• Step 4: Jointly devise a solution; the solution plan needs to:
– reflect an understanding of performance expectations and what is to be
achieved over the specified time period
– clarify roles and responsibilities of the employee
– include strategies for training and career development
– include time frames for improvement
– reinforce the value and worth of the role being performed.
• Step 5: Monitor performance.
2-1.88 CIVMB_BS_T2-1_v3
Apply your knowledge 29: Terminating employment

1. If an employee’s performance does not improve to an acceptable standard,
termination of their employment may be an option.
2. Employees cannot be dismissed in ‘harsh, unjust or unreasonable’ circumstances.
What is harsh, unjust or unreasonable depends on the circumstances of each case.
However, it is important to be fair to employees, who are to be given reasons for
dismissal and an opportunity to respond to those reasons.
3. Employees will need to have worked for the business for 12 months in order to be
eligible to make a claim for unfair dismissal.
If a small business employer strictly follows the Small Business Fair Dismissal Code
and the dismissal of their employee is not harsh, unjust or unreasonable, then the
dismissal will be deemed to be fair. It is best practice to follow the code and
complete the Small Business Fair Dismissal Code Checklist when an employee is
dismissed. You should keep the checklist with your records because it will assist you
if an employee makes an unfair dismissal claim.
Apply your knowledge 30: Vision and mission statements

Mission statements define the organisation’s purpose and primary objectives.
2-1
These statements are set in the present tense and they explain both to members of the
organisation and to people outside it why you exist as a business. Mission statements
tend to be short, clear and powerful.
Vision statements also define your organisation’s purpose but they focus on its goals
and aspirations. These statements are designed to be uplifting and inspiring.
They are also timeless — even if the organisation changes its strategy, the vision
statement can often stay the same.
Apply your knowledge 31: Internal policy and procedures


Apply your knowledge 32: Human resources guidelines

1. An employer must:
• take reasonable steps to ensure that their representatives comply with the financial
services laws
• ensure if employees provide financial services, they are trained and competent to do so
• monitor and supervise employees to ensure that they comply with financial services laws
• have a robust mechanism for remedying any breaches
• ensure that representatives are trained and competent.
2. An employer must:
• conduct appropriate background checks before appointing new representatives,
possibly including referee reports, searches of ASIC’s register of banned and disqualified
persons or police checks.
3. An employer needs to:
• keep track of who their representatives are, what role they perform and whether they are
appropriately authorised
• ensure their representatives (including their authorised representatives) act within the
scope of what they have authorised them to do
• ensure their representatives understand their compliance arrangements
• monitor their representatives’ compliance
• respond to compliance failures.
2-1.90 CIVMB_BS_T2-1_v3

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Business Skills

Topic 2-1: Organisations,

Certificate IV in Finance and Mortgage Broking

Part 1: Individual professional development ................................................... 2-1.4

1 Effective business communication ....................................................... 2-1.4

2 Effective time management ............................................................... 2-1.17

3 Personal development and self-awareness......................................... 2-1.28

4 Professional development ................................................................. 2-1.35

Part 2: Working in a team ............................................................................. 2-1.43

6 Being a part of a team........................................................................ 2-1.43

7 Team roles......................................................................................... 2-1.45

8 Feedback ........................................................................................... 2-1.47

9 Problem solving ................................................................................. 2-1.55

Part 3: Managing a team ............................................................................... 2-1.57

10 Acting as a role model ....................................................................... 2-1.57

11 Mentoring ......................................................................................... 2-1.58

12 Team leadership and management .................................................... 2-1.59

13 Planning ............................................................................................ 2-1.61

14 Change management and technology ................................................ 2-1.64

15 Performance appraisals ..................................................................... 2-1.66

16 Managing underperformance ............................................................ 2-1.67

© Kaplan Education Pty Ltd 2-1.1

Part 4: Working in an organisation ................................................................ 2-1.71

17 Vision and mission statement ............................................................ 2-1.71

18 Organisational structure .................................................................... 2-1.73

19 Internal policies and procedures ........................................................ 2-1.73

References .................................................................................................... 2-1.77

Suggested answers........................................................................................ 2-1.78

Topic learning outcomes

© Kaplan Education Pty Ltd 2-1.3

Part 1: Individual professional development

1 Effective business communication

Further resources: Business communications

© Kaplan Education Pty Ltd 2-1.5

Apply your knowledge 1: Active listening

3. How does active listening make you a more effective communicator?

1.2 Verbal communication

Apply your knowledge 2: Speaking in public

© Kaplan Education Pty Ltd 2-1.7

Apply your knowledge 3: Questioning techniques

2. What are probing questions? When should you use them?

© Kaplan Education Pty Ltd 2-1.9

3. What are leading questions? When should you use them?

4. What are the uses of questions suggested in the article?

Further resources: Verbal communication for business

1.4 Non-verbal communication

Apply your knowledge 4: Non-verbal communication

3. How can you use awareness of non-verbal communication to be a more

© Kaplan Education Pty Ltd 2-1.11

1.5 Written communication

Apply your knowledge 5: Writing skills

2. What are the suggested steps in composing a written communication?

A sales presentation structure

© Kaplan Education Pty Ltd 2-1.13

Apply your knowledge 6: Presentations

Further resources: Presentations

Apply your knowledge 7: Running effective meetings

1.8 Communication protocols and business etiquette

© Kaplan Education Pty Ltd 2-1.15

Further resources: Communication protocols and

1.9 Cross-cultural communication

2 Effective time management

2.1 Benefits of effective time management