Sales Teams Goal and Sales Territory - Assignment Example

First Name: ____________________ Surname:______________________ Email: ________________________ Diploma of Banking Services Management Course number 11369 FNS50910 BSBSLS502A Lead and Manage a Sales Team FINAL Case Study – PART A DUE DATE:___________________ 1. Team members? Team Member 1.Esme 2.Jasper 3.Bella 4.Jacob 5.Carlisle 6.Angela 2. As a Branch Manager you need to allocate the following job roles :- Assistant Branch Manager – to assist in managing the branch to allow you to focus on the New Product Launch Customer Service Specialist Customer Service Officer Concierge Lending Officer Financial Planner Who would you choose for each role, and why? Job role Team Member Why is the team member suited to this role? Consider the skills required for the role. Customer Service Officer (CSO) Esme She has a good working experience of twelve years in a customer’s service post. In addition, she has ample knowledge about the banks product and customers. This will assist the team to attend and satisfy customers’ needs. She has education qualifications to handle and maintain customer services records. Concierge Jasper Concierge welcomes and assists the customers. This is necessary because she is determined to assist people. She has communication skills .She will help the customers by educating them and Informing them about the new product. Customer Service Specialist (CSS) Bella She has good listening skills and communications skills. These are important skills of customer service specialists because they listen to customers’ question and answer them. They also address customers’ complaints to ensure that they have positive experience from the company.1 She has good customer relation. From the past experience, customers frequently needs her services. She is a good team player. This will ensure a good working environment with other staffs and customers. She is also confident and imaginative. This will make to deal with customers in an intelligent manner. Assistant Branch Manager (ABM) Jacob He is able to lead, direct and motivate other staffs to achieve the set targets. This will help him to handle other staff members in launching the new product. He has job oriented altitude. 2This will help to motivate team members to remain focus in the task. He is ambitious and able to adapt in all working conditions. For, instance he can work in long hours and study. He is also well experienced in banking services. He completes his work on time. This will be very important because he will ensure that all the team members has completed the work on time. Lending Officer (LO) Carlisle Good customer relations. He has developed good relations with customers. He will be able to identify the appropriate customers to offer loan services. In addition, he has more information concerning bank policies. This will help him to explain the bank policies toward loan application and repayment procedures. He has experience on retail sales, which extends credit facilities. Financial Planner (FP) Angela She has financial skills and graduated with a degree in finance. This will enable her to develop and maintain financial records and reports. She can question relevant information on proposals. This will help to determine short and long-term financial plans. She is hardy. Financial planning is a complex and challenging task. She will be able to work and tolerate in all working conditions to meet customers’ needs. Branch Manager (BM) You Good time management skills. This is important for a BM as they have multiple tasks and meetings to manage in a day. Strong sales skills are also required to meet branch sales targets. Excellent communication skills are required to deal with customer complaints. Friendly and supportive of other staff to motivate staff, have them work as a team and achieve targets. 2 Performance standards for my sales team members eg referrals or sales. Performance Standard – Sales Team Members Refer a minimum of four customers per week to the financial planner in order to Meet branch referral target. Sell a minimum of 20 credit card per week in order to meet branch target 3 Sales team’s goal and sales territory Sales Team Goal: The team goal will be focused on sales, which the team is expected to give their best. The time to be spent on the sales exercise will be limited and therefore maximum concentration will be required. The area of coverage is bigger while the target clients are scarce and require a lot of explanation before they make decisions. Team goals. Every member is expected to have his mobile phone turned off during the exercise. Group will meet after the exercise daily to share their achievement and any member who has met the required target will be rewarded. The exercise will take one month to accomplish. Out of 100 percent credit cards that we are going to sell, each is will be expected to sell as follows: 10% in the first week, 20% in the second week, 50% in the third week and 90% in the last week.3 Number of credit card to be sold per day will be decided by an individual. Each member of the team represents the organisation, and therefore, should be fully conversant with the organisational culture. This calls for weekly review of the manual given. Each member will choose the best time to start working which will be between 7 to 8.am. Remember the best seller will be rewarded accordingly. Individual goals Esme. Will be expected to collect client’s views from all the members and compile them for team review each week. She will also handle customer complaints every Wednesday as from 2. Pm in the afternoon. Bella. Will be expected to welcome the guests who visit the Bank every Thursday morning. She will also attend the youth forum on third week to sell the credit. Jasper. Will be expected to attend the weekend events for the disabled. She will also be responsible for meeting, account opening and assisting clients fill their details every Wednesdays and Fridays afternoon. Jacob. Will be in charge of the overall team activities, collect sales details every day and hand them in manager’s office. Angela. Will be expected to ensure that everybody has enough resources for transport. Carlisle. Will be expected to train member of staff on the bank products every week. In this case, he will be responsible for selecting the best venue and communicating the best time for such events. Sales Territory: (map) Upper class. In this part of the city, Most of the people are employed and may be willing to have a credit card. This will be based on their expected and almost assured income. They may also be in a position to pay the interest rates that are associated with this type of service. This card reduces the chances of carrying money from place to place. This will favour this group of clients.4 The bank is also targeting this part of the city for marketing of other products. The area is prime and therefore the little time available will enable us complete the exercise. Women The bank is also targeting women who are available in large numbers across the streets. According to recent statistics, women have been employed in large at the heart of the city. Women are also likely to buy more goods and pay for more services.5 Such kinds of transactions may require credit card. The level of impulse buying in women is also likely to be high. Credit card will be of great significant for such kind of buying, Credit cards are used in large numbers in this part of the city. The number of merchants selling women friendly goods is high and on the increase. 4 Sales team’s Sales Target Plan for the NEW VISION CREDIT CARD based on a target of 60 in sales and 40 referrals for the month. Each job role will either refer or sell (not both) Sales Target Plan for the month of February Number of New Vision Credit Card Applications Job Role Sales Targets Week 1 Week 2 Week 3 Week 4 TOTAL No. of Sales No. of Referrals No. of Sales No. of Referrals No. of Sales No. of Referrals No. of Sales No. of Referrals No. of Sales No. of Referrals CSO 3 5 8 4 20 Concierge 2 4 3 3 12 CSS 3 4 5 3 15 ABM 4 4 5 3 16 LO 6 7 7 5 25 FP 2 3 4 3 12 TOTAL TEAM TARGET 12 8 16 11 20 12 12 9 60 40 5 Evaluation of sales team and developing training plans for each of them to assist in achieving their monthly targets. Team Member Identify Skills Gaps Identify training methods you will use to improve performance and explain in detail Asst Branch Mgr Negotiating skills Problem solving skills Customers service skills Jacob is well experienced and a good leader. For him to lead a team successfully, he will require to train through self-discovery on how to be a successive leader. Being natured for leadership will require him to carry out research and know his team well. Self-discovery is a strong attribute that allow chances for problem solving skills. As a leader, challenges will face the team and will be required to solve. Use of computers and movie tapes on leadership will enable him to develop negotiating skills. Workshops will also play a great role in training. Customer service will be best learned through experience and interactions. The main aim is to meet the bank target so that the company will be competitive enough. Strong leader will be very useful. Lending Officer Judgement and decision making skills Listening skills Carlisle is well experienced and focused. However, his role will require a good decision maker since loans are special assets of a bank. Proper appraisals to ascertain client’s ability and character will be essential. On-job training will be of very importance. Loans need much experience that goes beyond formal and academic training. Structure programme and lessons are required to train the lending officer. Vast knowledge on banks products place him at good position to lend. Constants refreshing training are required so that he can master the products. At time loan may not be paid in time thus calling and listening his clients will be crucial. Such training may be coupled by customer service and experience so that he makes a competent loan officer. Listening skills will also be critical, since extended leave may be denied due to volume and nature of work. Such issue may calls for manager mentoring the officer on such issues. This will be done skilfully. Concierge Problem solving skills Organization skills Jasper is always serving others, which is a very strong attribute. However, much of time is lost due to excessive behaviour. This means that he needs to be trained on organizing her work and timekeeping. Demonstrating techniques will be very effective. Other staffs with customer service skills need to assist her by demonstrating how well they do it. Panel of well-versed officer including the manager can help in training Jasper. Role-playing is also important to enable her learn. This will make her learn how unproductive she may be if she continue with same trends. Customer Service Specialist Career development skills Leadership skills Bella has very important skills of taking care of customers. She needs training on how to develop her career. She intends to make banking his career and therefore need to be natured for leadership. Conferences and Seminars will play a great role to nature her talent. To nature her teamwork skills, she will require to be given some task to manage. Financial Planner Teamwork skills and customer service She is well qualified and forms a good financial planner. She needs skills in team working and considering other people opinions. Financial planning is leadership role and requires customer service. Seminars workshop and conferences can offer good training. Team working can be acquired through demonstrations especially from the manager to enable her desire such good skills.6 Customer Service Officer Effective listening skills Team motivation skills Customer care needs many skills. Empathy will allow the officer to have good relationship with the customer and at same time remain focused to bank principles.7 Demonstrations and role-playing will assist in training the staff to achieve desired skills. Combined skills will enable the staff to contribute to high performance in the bank. YOU Branch Manager Ability to motivate staff Staff Motivation Workshop – whilst the BM has the ability to establish good rapport with staff, the BM does not have enough experience in motivating a sales team. Such a workshop will help the BM with strategies on how to boost staff moral and lift overall sales targets. 6 Motivation for each team member and the opportunity FED Bank could offer them within the next two years as an encouragement strategy Team Member What motivates each team member (career, challenge, achievement, knowledge, autonomy, flexibility, education, recognition, teamwork) Opportunity (achievable in the next 2 years) Jacob Jacob is motivated by his career as a banker. He value teamwork and work toward a goal. He is driven by his objective and tirelessly pulls the team toward the set goals. He has also advanced his studies in this career. He has stayed long in banking and in the same institution, which shows commitment. He really make a good leader The bank has an opportunity to grow and expand since he shows commitment and leadership ability. Ability to organise his team for a common mission is essential for overall performance of the institution. 8In this case, the bank is nurturing gifted leaders who have the right attitude. The bank has an opportunity to be led by informed leaders with both practical and academic skills. If the desire of his character could lead to emulation, then the institution stand high chance of raising a uniform team with unique culture. Carlisle Carlisle is motivated by autonomy and knowledge. His skin condition does not demotivate him or make him feel less of human. He is not shy and finishes his assignments. He is focused and seems to have made clear life goals by getting married. In the next two years, the bank the bank has an opportunity to make high profits. Completing all tasks is a very strong attribute. Customers are likely to be satisfied by his work and invest more in the company. Bank has an opportunity to developed self-motivated and autonomous team. Such team will deliver quality and unique services. High moral staffs through role models will also results to a strong team. Jasper Jasper is motivated by flexibility. She makes everybody happy and can sacrifice. The bank has an opportunity to raise dedicated staffs that are ready to serve their customers. With adequate training, the institution is likely to attract many customers. This will translate to profits. Level of customer retention will also be very high. Strong bonds will also prevail among workers hence uniformed quality service. Bella Bella is motivated by career and flexibility. She is also driven by humanity and service to the people. She is also motivated by education and serve everybody without favour. The institution has an opportunity to increase the number of both internal and external customers. Opportunities for highly skilled leaders who values people are coming up. The bank is also in a position to raise one of best women leaders who serves with energy. Angela She is motivated by challenges and unique decision-making. Also follow the rules and regulations The bank has an opportunity to raise problem solves in the next two years. The institution thus may be competitive and preferred if such workers are nurtured and trained. Esme Career and flexibility are the major motivating factors. She is senior and loyal to the institution. The bank has an opportunity of raising focused staff that does not drain their brains.9 The bank will raise a group of employees who are loyal to it. Such employees are likely to maintain organization culture and uniqueness. The bank will also have an opportunity to prevent high turnover of both clients and staff. Bibliography Cardy, R. Management: People, Performance, Change, 3rd edition. McGraw-Hill, New York, 2008. Hall, O. Personnel Management: A New Approach. Prentice Hall International, Ungerson, 1998. John, K. The Heart of Change. Boston: Harvard Business School Publishing. 2002. Mohan. J. International Marketing, Oxford University Press, New Delhi and New. York . 2005. Read More