CAIB 4 ACTUAL SCRIPT WITH 100
PERCENT CORRECT ANSWERS
◉ In order to take advantage of near involvement opportunities
the brokerage must analyze the near environment by profiling.
Identify three areas that a brokerage can profile
Answer: 1. Competitor profiling
2. Market profiling
3. Client profiling
◉ Identify any five pieces of information that a brokerage can use
to profile it's competitors
Answer: 1. Size
2. Financial condition
3. Location of its head office and branches
4. Range of products
5. Quality of service
◉ Briefly explain market profiling
Answer: Market profiling involves identifying, analyzing and
forecasting key marketplace factors which may affect the
brokerage by posing a threat or presenting an opportunity
◉ Briefly explain client profiling
, Answer: Client profiling is perhaps the greatest benefit of
profiling. It achieves a clear understanding of the nature and
characteristics of a brokerages clients.
◉ As part of the planning process it will be crucial for the
brokerage to look inside itself to evaluate its current level of
operational effectiveness and capabilities and it's competitive
strengths and weaknesses. Identify seven things a brokerage
needs to know in order to analyze the internal environment and
assess its current position
Answer: 1. What it does better than its competitors
2. What strengths are not being used effectively
3. What its competitive weaknesses are
4. How strong it is financially
5. How strong its human resources are
6. How strong its product line is
7. How efficient and cost-effective it is
◉ If the brokerage is to take advantage of an opportunity
presented itself as a result of the external scan it must ensure it
has or can acquire the internal capability to do so. Briefly explain
the best approach for a brokerage to take in an attempt to achieve
an unbiased and realistic internal assessment.
Answer: The best approach to take to achieve an unbiased and
realistic internal assessment is to assume the position of client
and assess the brokerage from the viewpoint of an outsider.
PERCENT CORRECT ANSWERS
◉ In order to take advantage of near involvement opportunities
the brokerage must analyze the near environment by profiling.
Identify three areas that a brokerage can profile
Answer: 1. Competitor profiling
2. Market profiling
3. Client profiling
◉ Identify any five pieces of information that a brokerage can use
to profile it's competitors
Answer: 1. Size
2. Financial condition
3. Location of its head office and branches
4. Range of products
5. Quality of service
◉ Briefly explain market profiling
Answer: Market profiling involves identifying, analyzing and
forecasting key marketplace factors which may affect the
brokerage by posing a threat or presenting an opportunity
◉ Briefly explain client profiling
, Answer: Client profiling is perhaps the greatest benefit of
profiling. It achieves a clear understanding of the nature and
characteristics of a brokerages clients.
◉ As part of the planning process it will be crucial for the
brokerage to look inside itself to evaluate its current level of
operational effectiveness and capabilities and it's competitive
strengths and weaknesses. Identify seven things a brokerage
needs to know in order to analyze the internal environment and
assess its current position
Answer: 1. What it does better than its competitors
2. What strengths are not being used effectively
3. What its competitive weaknesses are
4. How strong it is financially
5. How strong its human resources are
6. How strong its product line is
7. How efficient and cost-effective it is
◉ If the brokerage is to take advantage of an opportunity
presented itself as a result of the external scan it must ensure it
has or can acquire the internal capability to do so. Briefly explain
the best approach for a brokerage to take in an attempt to achieve
an unbiased and realistic internal assessment.
Answer: The best approach to take to achieve an unbiased and
realistic internal assessment is to assume the position of client
and assess the brokerage from the viewpoint of an outsider.
