This question is based on the case study below:

Without new clients Coverit Insurance will not produce the amount of profit they require to be able to sustain the large discounts they offer. This makes the role and job undertaken by the Business Consultants extremely important to the success of the business.

You are to conduct a risk analysis on the Business Consultants role in the business.

Case Study:

'Coverit Insurance' is a new company that is growing rapidly. They have been in business for one year and have started to rival their competitors in the house insurance market.

The Vision of the new company is to provide excellence in customer service and processing of all insurance claims.

You are the Manager at Coverit Insurance and in this role, you are responsible for the recruitment of new staff and the performance management of all staff amongst all other tasks. This is a job that you take seriously and you believe that performance management is a pivotal aspect to a successful business.

Your Business Manager has requested that they hire another Business Consultant to generate new clients.You have agreed and also requested that the Business Manager provide you detailed information in relation to the role that they posted as an ad for the position. It is listed below:

"We are currently seeking an experienced and motivated Business Developer to work within the industry of Insurance. We have an impeccable reputation for providing outstanding service to our clients. We are seeking an applicant who has a fresh yet professional approach to developing new business opportunities and strategic business relationships.They will have the ability to create these relationships, and take responsibility for managing and nurturing the relationships to ensure the follow up service is of an extremely high standard.

The person will be responsible for the development of business relationships with new clients and identifying new business opportunities through existing accounts.

They will be required to meet with a minimum of 10 existing clients per week and 10 potential new clients per week and follow up work required from these meetings. From the 10 potential clients that the consultant sees each week they must convert 20% into new clients.

Part of the job will also require the staff member to complete surveys of customer perceptions of the business. They will develop and implement this process.

They are also required to support the administration team in following up client needs."