communication delivers on customer need | My Assignment Tutor

1.) List at least 5 points that are important to ensure communication delivers on customer needs, expectations and priorities. Actively listening to what the customer is communicatingUnderstanding customer objectivesAsk open questions to clarify and confirm their needsSeek feedback from the customer to confirm your understanding of their needs.Constantly seeking to add value, or to enhance products and services 2.) It is important that staff should deliver an outstanding customer experience at all times. What are the specific behavioural competencies that this requires and how would this be measured? Always being courteous, friendly, timely and providing a professional service. 3.) Using information provided in Unit 2, it is important that an organisation continually improves. Explain at least 5 ways that an organisation may collect information to facilitate this? • Audit documentation and report • Quality assurance data • Clawback numbers • Lapsed customers • Service calls • Customer and staff complaints. 4.) There are laws and legislation that regulate the way businesses may provide service to a client. A) Name some of these legislations B) Why is this important and C) What is your responsibility? Mortgage brokers should at all times comply with the NCCP (National Consumer Protection Act) which specifies that brokers should not sell a product which is unsuitable for a client and their repayments should not cause them hardship. The ethical requirements of a sale means that you cannot misrepresent your product or service and that you must be truthful and honest in your dealings. However, there may also be many legal repercussions should you go outside the rules and regulations. For example, there is government legislation such as the Fair Trading Act. There are other acts that govern call centre activity and some other acts such as the Privacy Act 1988, Sale of Goods Act, Competition and Consumer Act 2010, for mortgage brokers there is the NCCP (National Consumer Credit Protection Act) and there are many others. These acts cover areas such as: • Safety of goods and services • Promotion and advertising activities • Misrepresentation • Credit provision • Charitable funds – to name a few. There are also circumstances where consumers must be advised where they can make complaints in the event they are not happy with the service or product they’ve proceeded with. Write a guide regarding customer service that you would use, as a mortgage broker, to look after a customer. You may wish to write it with a new staff member in mind that you want to train to high standards. Your guide should be a minimum of 3 typed pages and must include the following points: (5 marks). • Identify and clarify customer needs and expectations • Assess the urgency of the request • Determine priorities for service delivery • Inform the customer of possible choices • Assist in the selection of the preferred option • Address what action you would take if you were unable to satisfy the customer need • Seek appropriate assistance where appropriate • Provide prompt service to customers • Establish and maintain rapport with customers • What action might be taken if there was a complaint • Provide assistance should there be a specific need • Propose cross-selling opportunities that may be apparent • Seek customer feedback • Review customer satisfaction • Use feedback to improve customer service 6. Detail at least 2 recommendations on how you could improve and monitor your service delivery to prospective customers. (2 marks) 7. Using information in Unit 11, before a mortgage broker attempts to handle a client’s concerns they must first determine what kind of concern they are dealing with. There are three common types of concerns. List the three and provide a brief explanation of each one. (1 mark) 8. Using information in Unit 12, there are four main personality types a mortgage broker may have to deal with. List the four types and provide a brief description of each. (1 mark) 9. Using information in Unit 12, there is a five point plan to successfully establishing networking, list the five prescribed methods. (1 mark) 10. Using information in Unit 4: A) List four different sectors of the financial services industry; and B) Describe how they interrelate using internet research if necessary. (4 marks) 11. Name five things you can think of that may make your current or future business more environmentally sustainable. The business can be your own or the business you will, or would like to, be working for. (3 marks) 12. List 10 documents required for an ACL application. You may need to refer to the Appendix 10. (3 marks) 13. Visit four different bank’s websites, list one loan product from each website, and list the key features of each of those products (4 marks) 14. Using the steps provided in Unit 9 Practice Activity 1 ‘Calculating Borrowing Capacity’, determine what this client can borrow, at an interest rate of 4.5%, qualifying rate of 7%, a loan period of 25 years, on salaries of Mr X $105,000 gross per annum and Mrs X $47,000 gross per annum, they have two children. They have credit cards of $10,000 limit and a personal loan of $25,000 at repayments of $600 per month. (6 marks) TIPS: – You should use the tax schedules provided in Appendix B16 – Your living expenses should be taken from the table provided on the NSR sheet Appendix B18 – You do not need to include any “family allowance” payments – Do include your calculations for us as we will then try to understand whether your final result has been achieved correctly 15. Employability Skills The topics below refer to the basic employability skills you need in order to carry out the duties of a finance broker. Not all the competencies listed below may directly relate to the topics within the course units so you need to think about each topic rather than look for answers in the course itself. You are required to complete a short statement on each employability skill below to demonstrate how you believe each employability skill will reflect on your employability. (4 marks – 0.5 for each point completed) □ COMMUNICATION – □ TEAMWORK – □ PROBLEM SOLVING – □ INITIATIVE AND ENTERPRISE – □ PLANNING AND ORGANISING – □ SELF MANAGEMENT – □ LEARNING – □ TECHNOLOGY –