FNSCUS511

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FNSCUS511 Develop and maintain professional

relationships in financial services industry

Lesson Plan

Australian Training School Pty ltd trading as Southern Academy of Business and Technology

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Table of Contents

Table of Contents 2

Overview 3

Resources 4

Preparation 5

Conducting Lessons 6

Induction 7

Session 1: Introduction 8

Session 2: Topic 1 Develop professional business relationships 12

Session 3 and Session 4: Topic 2 Build and maintain business networks and relationships 19

Session 5 and Session 6: Topic 3 Nurture relationships and build on referral business for the long term24

Session 7, 8, 9 and 10: Review and Assessment 28

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Overview

FNSCUS501 Develop and nurture relationships with clients other professionals and third party referrers

Duration

5 weeks

Content delivery: 3 weeks

Assessment: 2 weeks

Suggested Delivery

Week 1 Session 1: Introduction

Topic 1 Develop professional business relationships

Session 2: Topic 1 Develop professional business relationships

Week 2 Session 3: Topic 2 Build and maintain business networks and

relationships

Session 4: Topic 2 Build and maintain business networks and

relationships

Week 3 Session 5: Topic 3 Nurture relationships and build on referral business

for the long term

Session 6: Topic 3 Nurture relationships and build on referral business

for the long term

Week 4 and Week 5 Session 7, 8, 9, 10: Review and assessment

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Resources

Recommended texts

Cole, K. Management Theory and Practice. 6ed. Cengage Learning (2016)

Chapter 6 Building a strong communication foundation

Chapter 7 Strengthening your personal skills

Chapter 8 Building effective working relationships

Chapter 20. Caring for customers

PowerPoint slideshow

The following slideshows can be used to support the delivery of this lesson: FNSCUS501 Slideshow.pptx

Each topic for the unit is summarised, following the content presented in the lesson plan, with notes for the

trainer/assessor where appropriate. The trainer/assessor can adapt the slideshow to suit his or her own

teaching methods.

Web links:

Internet links to sources of information, videos or documents are also provided throughout the lesson plan.

If the links are broken, copy and paste them into your web browser.

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Preparation

Lesson Preparation

Before you commence delivery of these lessons, take the time to undertake the following:

• Read through this document from start to finish. If you have any queries about how an activity can best be carried out at your RTO, contact your supervisor for advice.

• Read through the recommended texts.

• Conduct further research on the Internet if any concepts are not clear for you.

• Perform each of the activities and homework or self-study that you will give the students.

Before giving each session, read through each day’s plan, as some preparation may be required.

• Sourcing videos

• Checking web links

• Preparing any technical resources required

• Planning role-plays

• Setting up activities such as presentations

• General planning

Equipment

To carry out the Lesson Plan for this unit, the following equipment will be needed:

• Computers with appropriate software and Internet access

• Headsets

• Whiteboard

• Projector

Industry expertise

To enhance the industry relevance of this classroom-based training approach, we recommend that you

identify an industry expert or experts, and invite them in to give short presentations to students.

These industry experts are not trainers, but are people who can provide expert industry information to

students to assist them with their learning. Their presentation could last up to one hour, and be provided

from week 2 onwards.

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Conducting Lessons

Lesson Context

A simulated work environment is to be used when carrying out these lessons.

Therefore, session activities:

• Reflect real life work tasks.

• Are required to be performed within industry standard timeframes as specified by assessors in relation to each task.

• Are assessed using assessment criteria that relate to the quality of work expected by the industry.

• Are performed to industry safety requirements as relevant.

• Use authentic workplace documentation.

• Require students to work with others as part of a team.

• Require students to plan and prioritise competing work tasks.

• Involve the use of standard, workplace equipment such as computers and software.

• Ensure that students are required to consider workplace constraints such as time and budgets.

Written activities

Activities provided throughout the lesson plan can be undertaken as homework and submitted to the

trainer/assessor and/or conducted within the lesson as an observed task.

Plagiarism, cheating and collusion

Where a trainer/assessor believes there has been an incident of academic misconduct involving

plagiarism, cheating, and/or collusion, they should report this along with reasons for the allegation.

Assessors should refer to their RTO’s policy and procedures regarding training and assessment for further

information.”

Practical observations

• Practical observations provide opportunities for students to demonstrate both knowledge and skills.

• Observe performance from an appropriate position.

• Record appropriate comments and use for feedback purposes.

Self-study

Students should spend a minimum of 5 hours per session on self-study.

Each activity has been allocated an approximate amount of time that should be spent on undertaking the

activity. All work should be typed and professionally presented in a word-processed document for

submission to the trainer/assessor. Time has been allocated at the start of every session to discuss the

self-study activities undertaken by students.

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Induction

The following slideshow outlines the induction information provided below for this unit:

Induction.pptx. The trainer/assessor can adapt the information as relevant.

Induction and administrative procedures

Provide your RTO’s induction and housekeeping procedures, or follow the suggested outline:

Cover any general housekeeping such as:

o college administration

o emergency procedures

o location of toilets and fire exits

o WHS, security

o break times

o plagiarism and any other policies and procedures that the college requires the student to

acknowledge or read and agree to, such as mobile phone policies or Internet usage

policies.

Folder management and naming documents

Discuss and demonstrate where and how you would like students to save their work.

As a guide, students should keep all their work for this unit in a folder that has the unit code as its name,

along with the student’s name. Any activities and assessment tasks should then be saved to this folder.

Students should name documents logically within the folder structure, it should include:

• Unit code

• Task number

• Task name

• Student last name (optional)

• The date or version number (optional)

Back up

Students should always have a backup of their work on a different device. If the college has a network

drive encourage students to use the drive and then back up to a USB or removable hard drive. If they are

using a USB to save files then they should keep a backup on their laptop or home computer.

Lesson overview

Provide the students with an overview of the unit and how it will be structured and delivered.

An outline of the suggested delivery is provided on the slide.

Assessment

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The assessment is provided in a separate document and should be made available to the students once

the content has been delivered, along with the deadlines and procedures for submission.

Session 1: Introduction

Recommended reading

Cole, K. Management Theory and Practice. 6ed. Cengage Learning (2016)

Chapter 20 Caring for customers

Slideshow

Use the slideshow FNSCUS501 Slideshow.pptx to support the delivery of this topic.

Developing business opportunities

- Attending networking events such as conferences or seminars

- Joining an association relevant to the industry in which the person is working

- Talking to customers and suppliers about their needs

- On-line social networking to keep up to date with events and to make new contacts or keep up with existing contacts e.g. LinkedIn

- Blogging on the company web site and inviting members to join

Relationship management plan

A Relationship Management Plan is the strategy for how an organisation will strengthen and maintain the

business relationship with its customer.

It may include a detailed description of the status of the current relationship, courses of action to grow the

relationship, any opportunities for partnering, descriptions of any conflict in the relationship, and any

individuals or groups. It is of key importance as it establishes the current relationship and identifies ways to

grow and maintain the relationship.

Client confidentiality

• It is important to maintain confidentiality of information at work.

• Maintaining confidentiality of information at work is important for a number of reasons. For example, failure to secure and protect confidential business information can lead to the loss of

business/clients.

• Disclosure of sensitive employee and management information can also lead to a loss of employee trust, confidence and loyalty, as well as a loss of loss of productivity.

Following are examples of information that must be kept confidential:

- Employee information, including personal information

- Management information about internal activities that are highly confidential, such as planned redundancies

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- Business information such as budgets and forecasts or planned new products or services.

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Communication

• Communication protocols

These are the internal rules that should be followed when undertaking communication within an

organisation. It provides consistency and conformity. These should also be flexible as not to interrupt the

flow of communication.

A communication process or protocol should include:

- What is being communicated?

- Who is being communicated with?

- Who within the organisation is responsible for the communication?

- When should the communication take place?

- How much detail should be included?

- What format (phone, meeting, email, text, letter, etc.) should be used?

- How and by whom will communication be followed up?

- Are there are mandatory reporting requirements for this communication and if so, how they will be addressed?

• Interpersonal communication

Effective interpersonal communication strategies that can be implemented at work can include:

- Using active listening skills: this can include focussing fully on the speaker and showing interest in what is being set, setting aside judgement and paraphrasing to confirm what the person said.

- Keeping stress in check: employees communicate better when they are calm and relaxed.

Therefore, even when there is conflict it is important to stay calm and relaxed and be willing to

compromise or agree to disagree.

- Being assertive: being assertive is also important, for example, using constructive criticism and speaking openly about own ideas and opinions.

• Effective strategies for cross-cultural communication - Develop awareness of individual cultures and differences in communication

- Keep communication clear, simple and ambiguous

- Avoid humour as humour varies across cultures.

- Be courteous and respectful at all times.

• Customer communication

Providing excellent customer service will include:

- Identifying and anticipating customer needs through thorough research about customers’ needs, such as preferred shopping methods, spending habits and understanding why customers shop.

- Responding promptly and informatively to customers through a range of channels such as telephone, face-to-face and social media such as Facebook or Twitter.

- Seeking regular feedback through customer surveys or informing customers of the ways that they can provide you feedback, for example, via email.

- Listening to customers, as this will make them feel valued.

• Verbal communication barriers with customers

It is important not to pretend that you understand what a customer says if you don’t understand. Ways of

overcoming this could be to get the person to slow down their speech or get them to write down what they

said. Non-verbal communication such as gestures can also assist.

Negotiation

The key principles of negotiation that should be used in the workplace to ensure that agreements are

reached can include:

- Defining the goals: it is important that the goals of the negotiation are clear.

- Separating people from the problem: it’s important to focus on the issue rather than the person.

- Mutual understanding: It is important that both parties in the dispute understand the other person’s perspective and can empathize with each other’s position.

- Solutions: It is important to identify more than one solution to the issues being negotiated and prioritising the most important issues to resolve.

- Objective criteria: all negotiations should be made on objective criteria, for example, when negotiating wages, the industry standard should be taken into account.

- Win-win agreement: finding a solution that is acceptable to both parties is the best outcome.

• Characteristics of an effective business negotiator: - Flexibility: This is an important characteristic because the person is open to a range of solutions.

- Creativity: This is an important characteristic because it means the person may come up with creative/innovative solutions to a business issues.

- Being aware of themselves and others.

- Good planners.

- Honest.

- Win-win oriented.

- Good communicators.

• Win-win negotiation

A win-win negotiation has the outcome of an agreement that is acceptable to both parties. This means that

all parties walk away feeling satisfied and is the optimum outcome.

• Factors that enable negotiations to be more likely to succeed: - Willingness to participate in a negotiation

- Common interest

- Willingness to settle

- A sense of urgency/deadlines to complete the negotiation

- Authority to make a decision

Legislation

The following Acts relate to relationship management with customers and staff:

• Age Discrimination Act 2004

This Act ensures that in relation to a number of areas, including employment, that people are not treated

less favourably on the ground of age.

The Act also provides for positive discrimination – that is, actions that assist people of a particular age who

experience a disadvantage because of their age.

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This Act assists with effective relationships because all persons must be treated equally which can lead to

an organisation with a positive and diverse culture that is beneficial for both staff and customers.

• Disability Discrimination Act 1992

The Disability Discrimination Act 1992 provides protection for everyone in Australia against discrimination

based on disability. It encourages everyone to be involved in implementing the Act and to share in the

overall benefits to the community and the economy that flow from participation by the widest range of

people.

Disability discrimination happens when people with a disability are treated less fairly than people without a

disability. Disability discrimination also occurs when people are treated less fairly because they are

relatives, friends, carers, co-workers or associates of a person with a disability.

This Act assists with effective workplace relationships because all persons must be treated equally which

can lead to a workplace with a positive and diverse culture.

• Fair Work Act 2009

This is the main legislation that governs the employee - employer relationship in Australia. It provides a

safety net of minimum entitlements, enables flexible working arrangements and fairness at work and it

prevents discrimination against employees. Ensuring there is known workplace conditions

This Act assists with effective workplace relationships because it ensures that there are known and

minimum conditions.

• Racial Discrimination Act 1975

The purpose of this Act is to promote equality before the law for all persons, regardless of their race, colour

or national or ethnic origin, as well as to make discrimination against people on the basis of their race,

colour, descent or national or ethnic origin unlawful.

This Act assists with effective workplace relationships because all persons must be treated equally which

can lead to a workplace with a positive and diverse culture.

• Sex Discrimination Act 1984

The purpose of this Act is to promote equality between men and women, as well as eliminate

discrimination on the basis of sex, marital status or pregnancy and, with respect to dismissals, family

responsibilities, and eliminate sexual harassment at work, in educational institutions, in the provision of

goods and services, in the provision of accommodation and the delivery of Commonwealth programs.

This Act assists with effective workplace relationships because all persons must be treated equally which

can lead to a workplace with a positive and diverse culture.

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Homework/Self-study

Students should complete any outstanding reading or activities from the session.

Responses should be typed and professionally presented in a word-processed document.

Allocate time at the beginning of the next session to discuss student’s responses.

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Homework/Self-study - discussion

Allocate some time at the beginning of the session to discuss the questions/activities or project work that

students undertook as part of their self-study.

This time could also be used to review and consolidate the topic covered in the previous session and

provide a time for Q&A.

Session 2: Topic 1 Develop professional business

relationships

Recommended texts

Cole, K. Management Theory and Practice. 6ed. Cengage Learning (2016)

Chapter 6 Building a strong communication foundation

Slideshow

Use the slideshow FNSCUS501 Slideshow.pptx to support the delivery of this topic.

Organisational policies and procedures

An organisation may have:

- clerical and administrative procedures

- disputes and complaints resolution procedures

- financial and IT systems

- management and supervisory practises

- professional development requirements.

• Customer service standards

Service standards outline specific service delivery targets and are therefore a set of commitments that an

organisation promises to honour when delivering a service. They also describe what a client or user can

expect to receive from the service, and the manner in which the service will be delivered.

As service standards are designed for customers to understand what level of service they can expect, it is

important that they are upheld as not meeting standards set is likely to result in poor perceptions of the

company.

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Service standard examples may include:

• The telephone will be answered within 4 rings.

• Emails will be responded to within 24 hours

• We will always be polite and friendly with our customers.

An organisation that is committed to best practice customer services may choose to measure its service

standards. Measuring service standards will ensure that the organisation can monitor its performance

against its own service standards. If service standards are not being met, then the company can take

action to address this and/or revise the service standard.

• Social and Ethical Standards - client management practises and principles

- client charter

- organisational guidelines

- professional codes of practice.

An example of a code of practice for the financial planning industry is the FPA Codes of Practice:

https://fpa.com.au/professionalism/

The AFA Code of Conduct is guided by six principles, which set out the minimum professional practice and

ethical standards for members of the AFA when providing financial services. These include:

- Principle 1 - Integrity and Professional Conduct - Principle 2 - Best Interests - Principle 3 - Conflicts of Interest - Principle 4 - Informed Client Consent - Principle 5 - Service Standards - Principle 6 - Professional Expertise

Activity: AFA Code of Conduct

Bookmark the AFA website page for future reference: https://www.afa.asn.au/afa-code-conduct

Outline the six principles of the code of conduct.

Confidentiality

This can be any requirements under legislation such as:

- Privacy Act

- Standards described by the organisation's policies and procedures.

Interpersonal styles

- educating and informing

- hard and soft sell techniques

https://fpa.com.au/professionalism/

https://www.afa.asn.au/afa-code-conduct

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- methods appropriate to the audience to communicate ideas and information which account for social and cultural diversity

- negotiation and persuasion

- seeking input from internal and external sources and use this input to develop and refine ideas and approaches

- treating people with integrity, respect and empathy.

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Class discussion

How can you maintain a business relationship?

How do you establish a business relationship and then maintain it?

(Students may come up with some of the following):

- keep in touch with contacts by replying to prompts such as “congratulate Sarah on her 10 year work anniversary”

- follow up connections who have contacted you - post to your network - appreciate contacts who have provided you with a connection, information or has helped in

some way

Activity: Professional networks – research

Identify the industry that you work in or would like to gain employment. Research:

1. The professional associations that are relevant to the industry 2. The associated newsletters, forums, journals, or subscription social media sites for each of the

associations identified. (List these down). 3. List seminars, conferences, events in your area that would be a worthwhile networking opportunity. 4. Research and note down any other professional networking opportunities appropriate to your

industry. For example using Twitter, Sponsorship opportunities, community events, etc.

Write your responses in the form of a report and submit to your trainer/assessor for feedback.

Activity: Brainstorm – Business Relationship Management

Divide into pairs.

What is involved in a business relationship?

Brainstorm ideas and list these down.

Discuss your ideas with the rest of the class.

Students may come up with:

- Interpersonal communication skills

- Having consistency and fairness

- Appreciating the differences of people and businesses

- Learning from others

- Maintaining communication channels and networks

- Conflict management skills

- An awareness of the requirements of your organisation

- Collaboration

- Partnerships

- Obtaining feedback

- Promoting opportunities

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Class discussion: How can you maintain high standards of professional conduct and integrity?

Students should come up with a similar response such as:

- an awareness of your own needs and expectations and also those of others

Class discussion: How can you building trust and confidence in a business relationship?

Students should come up with a similar response such as:

- active listening, showing empathy, clear communication skills, etc

Class discussion: “What are the benefits of developing business relationships?”

Activity: Organisational requirements

When developing business relationships, it is important that employees behave in a way that is consistent with the requirements of the organisation.

Research the following information – either using your own workplace or one you are familiar.

1. What is the organisation’s culture? (Shared values and beliefs)

2. What is their mission and vision statement, goals and objectives

3. List down the legal and organisational policies or guidelines that you have to adhere to

4. List one procedure or documentation process that you are required to follow.

5. What is the organisation’s code of conduct?

6. Are there any quality assurance or standards that you have to follow whilst conducting work?

Submit your responses in a typed document to your trainer/assessor.

Activity: Self-reflection

Consider your own position at your place of work or one you have held previously.

For each of the following business practices describe how you could develop trust and confidence of contacts in each:

- Conducting or being part of a meeting;

- Composing correspondence

- Emailing a contact

Submit your responses in a typed document to your trainer/assessor.

Activity: Building trust

Complete the following table, indicating how you could build trust in network relationships and also how you could destroy that trust.

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Business Activity How you can build trust How you can destroy it

Negotiating a contract

Handling a conflict at work

Communicating with a client

Video Clips: Building Trust

How to build rapport and trust

https://www.youtube.com/watch?v=dU8VH6vurXg (04:14)

Five steps for building trust in the workplace

https://www.youtube.com/watch?v=r540VOIVufc (06:27)

Activity: Trust game

The trainer/assessor should watch the following video on a trust team building exercise and then set up the activity for the class:

https://www.youtube.com/watch?v=93yqu-1Zb10 (02:50)

Activity: Group role play

Divide into pairs for this activity.

You will each role play the client and the customer service advisor, taking turns to play each role.

Read the following scenario then undertake the tasks that follow.

You work as a customer service advisor at ABC Bank Victoria. A client has recently sent an enquiry to your

branch, requesting information on a home loan:

I currently have $30,000 deposit for a house and would like to take out a home loan for a property

that I have recently viewed. The property is valued at $375,000. I work full time at ABC Victoria Council

and earn $85,000 pa. I have an investment property valued at $545,000, situated on the Sunshine Coast of

Australia, which returns $450 per week from rent. Considering this information, can you please send me

some information on the home loan options at your bank to [email protected] or telephone me on

0366845462.

Regards

Laura Clark

As the customer service advisor, it is your responsibility to find out the information requested by the client,contact the

client with the information and then set up a meeting, conduct the meeting and follow up.

For the purposes of this activity, the home loan that you select can be offered by any bank or financial institution.

Research these on the internet until you find one that you consider to be the best loan for thiscustomer.

https://www.youtube.com/watch?v=dU8VH6vurXg

https://www.youtube.com/watch?v=r540VOIVufc

https://www.youtube.com/watch?v=93yqu-1Zb10

mailto:[email protected]

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1. Prepare for the meeting

Prepare for the meeting by:

- Identifying if the client is suitable for applying for a home loan

- An option for the most appropriate loan

- A list of information and documents that the client will need to present

- Reading through the ABC Bank Victoria Customer Service Policy and Procedures (supplied by

your trainer/assessor) to ensure you understand procedures to be followed, including recording

customer details and privacy requirements.

- Be familiar with privacy legislation.

2. Arrange the appointment

Send an email to the client (your group member) to organise a suitable time and place to meet so that

you can discuss the mortgage option and to verify appropriate documents and information.

The text of the email should be in grammatically correct English, written in an appropriate (polite,

business-like) style, as set out in the ABC Bank Victoria Customer Service Policy and Procedures.

Your trainer/assessor will advise each group when the meetings will take place.

Trainer/assessor: Organise a slot of time for all the meetings to take place, within each group. Observe

their meetings, providing feedback on their conduct and things that they can do to improve.

3. Client meetings

Hold the meeting with your client. You are to relay the information that you have collected for the client,

request the associated documents and fill out a standard client information document.

Make sure that you follow the company’s Customer Service Policy and Procedures and demonstrate

professional conduct accordingly.

During the meeting, you must:

• Follow the banking code of practice and financial services legislation by clearly explaining the product to the client.

• Adjust your interpersonal style to suit the type of person that the client is.

• Confirm the client’s intentions and personal details, use the Client Information Document. (This will be supplied by your trainer/assessor).

• Inform the client of the conditions and the costs of the loan and what the repayments will be.

During the meeting, you are required to demonstrate effective communication skills including:

• Speaking clearly and concisely

• Using non-verbal communication to assist with understanding

• Asking questions to identify required information

• Responding to questions as required

• Using active listening techniques to confirm understanding

When you have noted all of the relevant information from the customer, ask them if they have any

questions for you.

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Conclude the meeting as set out in the ABC Bank Victoria Customer Service Policy and Procedures.

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Each take it in turns to role play both the client and advisor. When you role play the client try to change

your interpersonal style so that you either have a hearing deficiency, do not speak English as your first

language, have trouble reading documents, are having a bad day, are over enthusiastic, etc.

Homework/Self-study

Students should complete any outstanding reading or activities from the session.

Responses should be typed and professionally presented in a word-processed document.

Allocate time at the beginning of the next session to discuss student’s responses.

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Homework/Self-study - discussion

Allocate some time at the beginning of the session to discuss the questions/activities or project work that

students undertook as part of their self-study.

This time could also be used to review and consolidate the topic covered in the previous session and

provide a time for Q&A.

Session 3 and Session 4: Topic 2 Build and maintain

business networks and relationships

Recommended texts

Cole, K. Management Theory and Practice. 6ed. Cengage Learning (2016)

Chapter 7 Strengthening your personal skills

Slideshow

Use the slideshow FNSCUS501 Slideshow.pptx to support the delivery of this topic.

Class activity: Brainstorm

Spend 5 mins with students brainstorming the term Business Networking.

Draw a diagram on the board and note down their responses. Students could then copy this down or create

their own diagram. The trainer/assessor could start the session with some of the suggested words below:

- Relationships

- Maintaining client relationships

- Referrals

- Partnerships

- Creating contacts

- Potential clients

- Expanding business

- Reaching clients

- Staying current

- Expanding the business

- Increasing client base

- Finding solutions

- Sharing Knowledge

- Learning new skills

Business and professional networks

BUSINESS

NETWORKING

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Business and professional networks can include:

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- Award ceremonies

- Networking events

- Professional associations

- Seminars and conferences

- Sports outings and special events

- Online networking communities

Further relationships are developed and maintained through:

- financial institutions

- government departments and agencies

- building and construction professionals

- accounting and taxation professionals

- directors and managers

- finance brokers

- financial advisers and consultants

- insurance brokers and providers

- land titles offices

- legal professionals

- licensing authorities

- loss adjusters and assessors

- mortgage brokers

- municipal offices

- professional associations

- real estate professionals

- surveyors

Activity: Flying Solo

Access the Flying Solo website, an online community for micro business owners. The site has a number of

articles, forums and networking links that you may find helpful:

http://www.flyingsolo.com.au/marketing/business-networking

Video Clip: What is Business Networking

How to approach business networking: https://www.youtube.com/watch?v=eTpFwchbIA0 (02:22)

Video Clip: Networking Basics: 8 Tips to networking without being fake

How to conduct networking: https://www.youtube.com/watch?v=xkqd6T399tQ (06:16).

Class Activity: Brainstorm

Spend 5 mins with students brainstorming the Benefits of networking.

http://www.flyingsolo.com.au/marketing/business-networking

https://www.youtube.com/watch?v=eTpFwchbIA0

https://www.youtube.com/watch?v=xkqd6T399tQ

Draw a diagram on the board and note down their responses. Students could then copy this down or create

their own diagram. The trainer/assessor could start the session with some of the suggested words below:

- learn from others

- share ideas

- ask for advice

- gain referrals

- discuss problems

- test ideas

- promote yourself

- meet new people

- socialise

- expand horizons

Video Clip: Business networking benefits and tips

The following clip provides some tips to why business networking is beneficial:

https://www.youtube.com/watch?v=CFjp7Q5WAro (03:03)

Activity: Areas of Expertise

Think about your own areas of personal expertise and write these down. You could use some of the

following prompts:

- What are my skills?

- What do I know about my area?

- What am I most competent in?

- Do I need to develop any skills or knowledge?

- How will people benefit from getting to know me?

Class discussion - Share your personal expertise that you have listed with the rest of the class.

(Trainer/assessor: select students willing to share and provide feedback)

Activity: Current networks

Think about what your own networks are currently and write these down. Consider:

- Professional associations

- Business contacts

- Online connections

- Are these networks up-to-date?

- Are they viable?

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https://www.youtube.com/watch?v=CFjp7Q5WAro

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- What networking opportunities are you missing?

Activity: Networking strategies

Consider your own industry and the networking opportunities available. Consider the following questions

and write down what you could do to boost your business networks.

How can I promote the business?

How can I help colleagues/employees to network?

List the type of networking that would be the most beneficial to the business, or industry selected.

Class Activity: Pursing business networking opportunities

Consider the following and think about what you can do to pursue business networking opportunities:

What information can I share?

Who can I share information with?

Who can I introduce people in my business networks to?

Who can I ask for help for referrals, introductions or mentoring?

Is there anyone that has helped me that I need to thank?

Discuss your responses with the rest of the class.

Activity: Mind Map your Network

Consider your own current business network contacts. Place yourself in the centre and then complete the

mind map. Include all the people that you regularly come into contact with and who could potentially assist

you or your business:

Video Clips: Communicating

The following clips on communication and presentation skills could be useful for engaging in networking

opportunities or just presenting an idea:

Introducing yourself at a networking event: https://www.youtube.com/watch?v=tfFTWJpWfsQ (04:54)

How to start conversations at business events: https://www.youtube.com/watch?v=SOVmLlunvFg (3:24)

Presentation skills and communication training: https://www.youtube.com/watch?v=JUwhB3lZvGE (05:49)

https://www.youtube.com/watch?v=tfFTWJpWfsQ

https://www.youtube.com/watch?v=SOVmLlunvFg

https://www.youtube.com/watch?v=JUwhB3lZvGE

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Activity: Identifying networks and building relationships

The trainer/assessor will need to prepare for this activity so please read through first.

Divide into pairs.

1. Network opportunity

Each group is to research a networking opportunity for the other person in the group.

They should both hold a conversation to begin with to find out what the person’s network need would be.

Then conduct some research on the Internet to find out information on any networking opportunities

available.

Each member of the team is to then create a list of positive aspects, along with important information that

could assist the other person in their networking opportunities.

They should then work out a speech or conversation that they can hold with the other group member to

convey the information they have learned.

2. Network event

The trainer/assessor will organise a “networking opportunity event”. The purpose of the event is to provide

the information that you researched to the appropriate person.

The trainer/assessor can move the students into different groups to mix up the original grouping.

This is a role-play for that is set as an impromptu gathering – for example a lunch break or at a training day.

Now each group is to find one another and start their networking opportunity.

The trainer/assessor could conduct this activity with just half the class first so that it doesn't become too

noisy or ineffective.

Alternatively, each group could conduct their networking opportunity in front of the class so that they can

gain feedback from their course friends and the trainer/assessor.

3. Report

Each member of the group should then document the outcome of the network activity that they participated

in. Use the template Network Report Template provided by your trainer/assessor to complete the report.

Homework/Self-study

Students should complete any outstanding reading or activities from the session.

Responses should be typed and professionally presented in a word-processed document.

Allocate time at the beginning of the next session to discuss student’s responses.

Homework/Self-study - discussion

Allocate some time at the beginning of the session to discuss the questions/activities or project work that

students undertook as part of their self-study.

This time could also be used to review and consolidate the topic covered in the previous session and

provide a time for Q&A.

Session 5 and Session 6: Topic 3 Nurture

relationships and build on referral business for the

long term

Recommended texts

Cole, K. Management Theory and Practice. 6ed. Cengage Learning (2016)

Chapter 8 Building effective working relationships

Chapter 20 Caring for customers

Slideshow

Use the slideshow FNSCUS501 Slideshow.pptx to support the delivery of this topic.

Referring business

When referring business this can be done through:

- Established networks

- Recommendations and referrals

- Friends and relatives

- Previous clients

- Recommendations from clients

Activity: Reading and review

Read the following article, discussing five ways to use technology for customer retention: https://www.fishbowlinventory.com/blog/2016/11/02/5-ways-to-use-technology-for-customer-retention/

The following discusses how technology has changed the customer experience:

https://www.inmoment.com/blog/technology-changed-customer-experience/

The following blog discusses stats on customer loyalty:

http://www.signal.co/au/blog/customer-loyalty-marketing/

https://www.fishbowlinventory.com/blog/2016/11/02/5-ways-to-use-technology-for-customer-retention/

https://www.inmoment.com/blog/technology-changed-customer-experience/

http://www.signal.co/au/blog/customer-loyalty-marketing/

This article discusses ways to improve client retention and looks at why clients leave and how to prevent it happening.

https://www.entrepreneur.com/article/272978

Summarise the articles and discuss the following statement:

“Social media has given the customer more power”

Video Clips

Watch the following video clips:

1. Top Strategies for Customer Retention

https://www.youtube.com/watch?v=63ABcmQEuo0 (08:11)

2. How to create loyal customers

https://www.youtube.com/watch?v=C1jt6xvISqw (03:07)

3. Customer retention the most important part of keeping your customer satisfaction at an all time high

https://www.youtube.com/watch?v=SXaFefUw8YU (01:42) (podcast)

4. Sylvia Baffour talks about empowering employees to peak performance at the Motivational Seminar.

https://www.youtube.com/watch?v=j7jXdFZvecE (06.23)

5. How To Motivate Employees - Creating Ultra-Productive Workers

https://www.youtube.com/watch?v=4CBAtPmQMxQ (12:14)

Communication channels for referrals

These can include:

- Website enquiries

- Social media

- Workplace Intranet portals

- Online forums

- Advertisements

- Cold calls

- community events

- Face to face networking

- Mail drops/Email marketing

- Organisation/workplace events

- Seminars/Events

Internal and External Customers

External – are outside of the organisation who use or purchase products or services

Internal – are inside the organisation who use or benefit from the work of other employees

To get to know these customers will require research, assessment and review.

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https://www.entrepreneur.com/article/272978

https://www.youtube.com/watch?v=63ABcmQEuo0

https://www.youtube.com/watch?v=C1jt6xvISqw

https://www.youtube.com/watch?v=SXaFefUw8YU

https://www.youtube.com/watch?v=j7jXdFZvecE

https://www.youtube.com/watch?v=4CBAtPmQMxQ

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Video Clip: Build a Strong Business With Strong Customer Relationships

https://www.youtube.com/watch?v=HUmO0Z570bk (03:41)

Video Clip: Know Your Customer

https://www.youtube.com/watch?v=-8Mo4qUWQLw (10:10)

Class discussion and activity: Networking - Elevator Speech

What is an elevator speech?

What are the benefits of being able to conduct an elevator speech?

Review the following article discussing elevator pitching.

https://www.mindtools.com/pages/article/elevator-pitch.htm

Video: Elevator Pitch

Show the following clip:

https://www.youtube.com/watch?v=IxunO4S96F4 (04:07)

Further Reading: Meeting new people and introducing yourself

https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/communicating-

effectively/meeting-people

Class Activity: Managing Business Relationships

Business Queensland has a section on their site “Managing business relationships”. Read through all the

links, undertaking the suggested activities below.

The trainer/assessor should read through each activity and perhaps direct students, providing time for

completing the activity and feedback

https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/networking

Suggested activities: Networking in business

- Types of networks (list down any operational, personal and strategic networks that you hold)

- Networking opportunities (answer the questions under Who should be in your network)

- Planning your network (watch the webinar for Introduction to social media)

- Getting the most out of networking (Research and then write down the next networking event that you could attend. State what you would like to achieve at the event)

https://www.youtube.com/watch?v=HUmO0Z570bk

https://www.youtube.com/watch?v=-8Mo4qUWQLw

https://www.mindtools.com/pages/article/elevator-pitch.htm

https://www.youtube.com/watch?v=IxunO4S96F4

https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/communicating-effectively/meeting-people

https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/networking

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- Using your networks (explain how you currently utilise your own network system)

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- Networking in business – watch the case study video

Increasing the amount of referrals

Business referrals can be promoted through:

- Above average level of customer service

- Social media sharing

- Showcasing referrals

- Referring other businesses

- Referral incentives

- Asking for referrals

Activity: Referral business report

Read the following scenario and then write a brief report on client referrals:

Scenario: FPA Financial Planning Australia, is a small business offering financial advice and services. The

business relies heavily on its website for new business, along with contacting the clients in the database via

email on an annual basis. It has been decided that the business could benefit from referral business.

Write a short report that identifies how the organisation can use digital technologies and social media to

increase its client referrals. The report should be clearly structured in a professional format and include the

following:

Title page

Contents page

Overview of the benefits of client referrals

How digital technologies can be used to find and secure new business relationships

How social media can be used to quickly identify and distribute appropriate information of the

organisation’s products and services

How FPA Financial Planning Australia should conduct interviews for referral business so that a

client’s needs can be met or information identified to assist the client.

Conclusion/Recommendations

Submit your report to your trainer/assessor for feedback.

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Session 7, 8, 9 and 10: Review and Assessment

The content of this unit has now been covered. The next two weeks have been allocated for the

trainer/assessor to review topics and for students to complete their assessment tasks.

Review and completion

Allocate time for students to complete any outstanding activities, reading, role-plays, meetings,

presentations or further tasks that require observation or submission to the trainer/assessor.

The trainer/assessor should allow time to review any topics or activities undertaken by students to

consolidate their learning.

Discuss the Assessment Tasks

Take time to discuss each task in detail if required, and ensure that the students understand the

assessment procedures, submission instructions and deadlines.

Students should use these sessions to work on their assessment tasks, with support from the

trainer/assessor where relevant. Reasonable adjustment should be made where appropriate.

Short Answer Test

Allocate one hour for the completion of Assessment Task 1 – Short answer test. This is an open book test

but is required to take place under supervised test conditions.

Support

The trainer/assessor should provide as much support as is appropriate for students whilst they undertake

their assessment tasks. The trainer/assessor may have to timetable meetings or role-play’s that require

observation for assessment so it is important to ensure that this has been considered into the lesson

planning over the last two weeks of assessment.

Housekeeping

Provide some time at the end of the last session for housekeeping such as administrational duties, student

feedback and farewells.