Explain emotional intelligence and the importance of this

Assignment Detail:- BSBPEF502 Develop and use emotional intelligence Assessment Part 1: Written Questions Provide answers to all of the questions below: Question 1- Explain emotional intelligence and the importance of this characteristic at work- Question 2- Explain each of the five essential principles of emotional intelligence as defined by Daniel Goleman- Question 3- Explain the key principles of the Emotional Intelligence Theory developed by Caruso and Salovey -2004-- Question 4- Explain three strategies that can be used to build emotional intelligence- Question 5- Explain how would you apply the following emotional intelligence attributes in the workplace to achieve business objectives: • Self-awareness• Self-management• Social awareness• Relationship management Question 6- Explain the importance of recognising cultural differences in emotional intelligence- Provide two examples example to illustrate your answer- Question 7- Explain two ways of communicating effectively with a diverse workforce with varying cultural expressions of emotions- Question 8- Explain two ways of using emotional intelligence to build effective workplace relationships- Question 9- Identify and briefly describe at least three methods to develop emotional intelligence in others- BSBFIN501 Manage budgets and financial plans Assessment Part 2: Project Portfolio ActivitiesComplete the following activities: 1- Carefully read the following:This assessment requires you to demonstrate your skills and knowledge in managing budgets and financial plans-This project can be based on the case study business in the BSBFIN501 Simulation Pack or you may like to base this on your own business, or a business you are currently working for or are familiar with- Speak to your assessor to get approval if you want to base this on your own business or one you work for-You will be collecting evidence for this unit in a Project Portfolio- The steps you need to take are outlined below-2- PreparationMake sure you are familiar with the business you are basing this assessment on and have read through the necessary background information and policies and procedures- For the case study business, this is all of the documents included in the BSBFIN501 Simulation Pack- If it's your own business or a business where you are working or are familiar with, it's important at this step that you have your business or case study approved by your assessor-Complete Page 4 of your Project Portfolio for this unit-Read through the requirements of Section 1, 2, 3 and 4 of your Project Portfolio which include detailed guidance relevant to all the assessment activities-Remember to create logical folders for all of your work and in the final assessment task you will submit a screenshot of these folders- This will ensure you follow record keeping requirements-3- Plan financial management approaches-You are required to plan financial management approaches for a business- This involves:• Accessing, reviewing and then reporting on the budget and financial plans relevant to your team or department-• Evaluating budget and financial plan outcomes-• Preparing contingency plans in case plans need to be varied-• Identifying if any changes need to be made to the budget and financial plans and negotiating these changes-If you are completing this for the case study business, you will answer all the questions in your Portfolio based on your Simulation Pack- If it is your own business, you will need to access the budgets and financial plans relevant to your team or department, as well as relevant workplace policies and procedures-Complete Section 1 of your Project Portfolio-Submit your Portfolio to your assessor-4- Preparing to implement financial management plansYou are to prepare a presentation to provide to your team- This can be any format you wish as per the instructions in your Portfolio- The purpose of the presentation is to:• communicate the details of the agreed budget and financial plans• provide support to your team in order to implement the budgets and financial plans• provide information to your team about financial management processes to monitor expenditure, controls costs and adjust contingency plans as required-Prepare your presentation following the guidelines in your Portfolio- Make sure your presentation has a logical structure and is in language that your team can understand- Your presentation will last for approximately 15 minutes and you will need to ensure you provide the opportunity for other students to answer questions-Complete Section 2 of your Project Portfolio-Submit your Portfolio to your assessor- Your assessor will then advise you of the date and time of your presentation, as well as the students who will be participating-5- Implementing financial management plansIn a group round-table style discussion with a student group of approximately two or three, you will provide your presentation-Each person will have a turn -15 minutes per person- to present their work-Your assessor will be looking to see that you can:• demonstrate effective communication skills including:o Speaking clearly and conciselyo Using non-verbal communication to assist with understandingo Asking questions to identify required informationo Responding to questions as requiredo Using active listening techniques to confirm understanding• Use language that your audience can understand- This can either be viewed in person by your assessor or you may like to video record the session for your assessor to watch later- Your assessor can provide you with more details at this step- Make sure you follow the instructions above and meet the timeframes allocated-6- Monitoring and evaluating financial management plansIf you are using the case study business you are to complete this activity- If you are using your own business, you may analyse information on the budget and expenditure- If this is not possible, you may also complete this same activity-Assume it is the end of the reporting period- Review the information in the simulation pack and report on:• Expenditure and income• Actual versus forecasted budget• Effectiveness of the financial management processes as per the team's feedback• Recommended improvements to financial management processes-Work on Section 3 of your Project-7- Implement agreed improvementsYou are to implement one of the recommendations you have identified in the previous activity and provide the required evidence- Follow the instructions in your Portfolio to complete this task-Complete Section 3 of your Project Portfolio-Submit your Portfolio to your assessor-8- Evaluate improvementYou are to evaluate the improvement you implemented in the previous activity and provide the required evidence- Follow the instructions in your Portfolio to complete this task-Complete Section 4 of your Project Portfolio-9- Submit your completed Project PortfolioMake sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary-Submit to your assessor for marking- BSBPEF502 Develop and use emotional intelligence Complete the following activities: You work as a staff counsellor at a large company- The business specializes in finding both commercial and residential tenants for landlords, as well as matching landlords with tenants- All staff work an eight-hour day from 9 am to 5-30 pm, with 30 minutes for lunch- The Operations Manager has described the following situation to you: Beryl is the Team Leader of the telemarketing group, responsible for:• Supervision and mentoring of a telemarketing team of eight• Outbound sales calls to real estate agents, property managers and landlords• Appointment setting for field sales teams• Inbound query resolution and customer service• Maintenance of all customer contacts in the Customer Relationship management system•Beryl, aged 62, has been with the company for 3 years- She was born in Australia- She has worked in sales most of her life- Beryl was hoping to retire at 60 but personal circumstances have meant she is continuing to work- Beryl is a very hard worker and achieves above the required results for signing up tenants and landlords- One of the telemarketers that Beryl is responsible for is Yuko- Yuko is Japanese, aged 40 and has been in Australia for 2 years- She speaks good English and gets on with her team members, although she is generally quiet- She has always been very reliable with her attendance at work- As the Operations Manager of the company and the overall manager of the team, you have noticed recently that there is tension between Beryl and Yuko- You have noticed that Beryl often ignores Yuko or addresses her though another member of the team- You have also noticed Beryl whispering to other workers and you sense that this is in relation to Yuko- Yuko's work performance is suffering, and she is not making the required amount of daily calls to sign up new tenants and landlords- Yuko has also become more withdrawn recently and tends not to sit in the staff room anymore or attend staff social functions- This situation is stressful- The team's performance targets are not being met and the conflict within the team seems to be having an effect on other staff members, with sides being taken- You have heard through another member of staff that Yuko feels that Beryl is racist, and that Beryl complains that she can't understand Yuko's accent and that she feels Yuko is never very enthusiastic about her work- You would like to resolve this situation by getting Beryl and Yuko to understand each other's perspectives and to manage their emotions at work- At this stage there are no options for moving either member of staff to another team- Answer the following questions in Staff Emotional Intelligence Report Template- Each of your answers should be approximately 1 paragraph in length- 1- Based on a review of the case study, what do you think could be possible range of emotions that Yuko could be feeling???? List at least five possibilities- 2- Based on a review of the case study, what are the possible ranges of emotions that Beryl could be feeling???? List at least five possibilities- 3- Based on a review of the case study, what do you think could be the effect of the workplace situation on the manager and possible emotions they could be feeling???? List at least five possibilities- 4- Would you expect any cultural differences in emotions???? Research differences between Australian and Japanese expressions of emotions and describe differences you identify- List at least two- 5- During a meeting, what techniques would you use to ensure that Beryl and Yuko have the opportunity to express their thoughts and feelings???? List at least two- 6- During a meeting, what techniques would you use to ensure that Beryl and Yuko have the opportunity to reflect on the effect of their behaviour and emotions???? List at least two- 7- What advice could you give to Beryl and Yuko to assist them in self-managing their emotions???? List at least five tips- 8- Document a step-by-step approach for resolving the workplace situation- As a guide, you should list between 6 to 8 steps- 9- Prepare questions -at least five- to ask Beryl and Yuko at the meeting- The questions should help you to find out more about the situation and their thoughts and feelings- Ensure that your questions are open questions to encourage discussion- Your questions should ensure that you:• Identify information about the workplace situation• Provide opportunities for Yuko and Beryl to express their thoughts and feelings???? 10- Submit a sample draft email to your assessor- The text of the email should be in grammatically correct English, written in an appropriate -polite, business-like- style- It should introduce and summarise the contents of the attachment and ask for the place, date and time of your roleplay meeting- Attach your Staff Emotional Intelligence Report to the email- 11- Meet with staff- You are required to meet with both of the staff members -roleplayed by your assessor-- Prior to the meetings, you should also consider appropriate strategies for addressing the issue, bearing in mind that you will be provided with additional information that you will need to consider at the meeting- You will be assessed using the checklist starting on the following page, so ensure that you are familiar with the requirements before beginning the meeting- You must also demonstrate throughout each meeting:• Empathy and acknowledgement of others' perspectives• Active listening• Remaining calm and unbiased• Your ability to respond to varying levels of cultural expression• Showing flexibility and adaptability e-g- being open to different ideas about actions to address the workplace situation• Providing encouragement to staff to assist them to develop their emotional intelligence, including self-management of emotions Use the information provided through the meetings to consider appropriate actions to be taken to ensure that the workplace outcome of resolving this issue is achieved- At each meeting you will need to complete all of the following: • Briefly explain the purpose of meeting• Find out more about each staff member's side of the story by asking the questions you have prepared-• Respond appropriately to each staff member's emotional state and provide opportunities for Beryl/Yuko to express their thoughts and feelings through the questions you prepared and use of active listening techniques-• Demonstrate non-verbal communication skills including nodding and smiling as appropriate-• Acknowledge each staff member's perspective-• Explore the impact of each staff member's behaviour and emotions on the other staff member and the rest of the team-• Discuss each staff member's strengths and their contribution to the workplace-• Through discussion, identify appropriate emotional intelligence techniques, including self-management of emotions, for managing behaviour and for building effective workplace relationships-• Through discussion with each staff member, decide on actions for addressing the issue, taking into account both staff members' needs and emotions, as well as identified strengths- In discussing actions, you should show that you have taken into account the additional information provided at the meeting and can demonstrate flexibility and adaptability in considering a solution- Attachment:- Diploma of Business-rar

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