MGT547: Assessment 2 Critical Analysis Answer
April 19, 2019
Author : Charles Hill

Nobody wants to trifle with finance. This sector is not only complex but is always a ride down a slippery slope. That is why there is always more than one body that regulates the organisations working in this domain. Writing MGT547 assessment 2 answer is complex, needs help and expertise. Thus, this guide by management assignment help is for you.

You will get an understanding of how the professionals handle this and how you can write your MGT547 assessment 2 answers.

1. Define a topic to write about

The assignment file has given to you a statement. You need to read and understand that statement and then have to frame a topic that you are going to analyse critically.

2. Identify regulatory bodies

The assignment question also says that you have to identify the regulatory bodies. Your MGT547 assessment 2 answers will be based on the 5 major finance regulatory bodies in Australia -

  • Australian Securities and Investments Commission (ASIC)

  • Australian Prudential Regulation Authority (APRA)

  • Foreign Investments Review Board (FIRB)

  • Australian Takeovers Panel

  • Australian Transaction Reports and Analysis Centre (AUSTRAC)

3. Identify self-regulatory mechanisms

There are a number of self-regulatory mechanisms that you can mention in your MGT547 assessment 2 answers. These are used to address specific problems and adjectives.

These are -

Information campaign

The organisations working in the financial market should educate their customers. Such campaigns allow the clients of the company to be aware of the laws and other regulations that they should adhere to. Your MGT547 assessment 2 answers should include this one.

Internal complaints handling

Should any issue arise, the businesses prefer to solve it internally before it aggravates to a third party settler. The insurance companies use this type of self-regulatory mechanism. The companies establish their own compliance systems that the clients follow.

While writing the MGT547 assessment 2 answers, make sure that you are defining the self-regulatory mechanisms within the scope of regulatory bodies.

Quality assurance system

While delivering the clients any service, the organisations should be sure that they are giving them what they asked for. Compromising on the quality front does not end well.

The financial organisations in your MGT547 assessment 2 answers have to follow a procedure so that an external entity does not have to intervene with the delivery.

4. Discuss the role of these mechanisms

These self-regulatory mechanisms are not always the best. That is why you need to critically analyse them. That means you have to bring out how they are good and also mention how they are not suitable for use.

Your MGT547 assessment 2 answers should focus on the positives of all the self-regulatory mechanisms first. Their benefits can be discussed by the role they are playing in financial organisations.

For example, information campaigns can be a very powerful tool if properly used. There are instances where public information campaigns have affected the decision-making process significantly and the engagement was attributed to a planned information campaign.

5. Analyse the efficiency and effectiveness of these mechanisms

A good MGT547 assessment 2 answer is the one where you analyse whether the proposed self-regulatory mechanism is effective or not. These mechanisms have their roles defined and are always working to achieve some result. Thus, you can always see and analyse how effective these measures are. Read a couple of works of literature related to your topic and see if the mechanism you have defined is effective or not.

Your MGT547 assessment 2 answers will be analysing what makes the said mechanism great. At the same time, you will mention what downside do they have which might be a hindrance to the expected result.

Get MGT547 assessment 2 answers from My Assignment Services!

The students studying the unit MGT547 have to write assignments where you have to show a detailed evaluation of the issues in the financial world. Also, you have to analyse the assignment with respect to the laws, policies and guidelines. Sounds too complex? Don’t worry as you can reach management assignment help online by us and ask us to guide you!

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About the Author

Charles Hill

Charles Hill

Charles writes blogs and articles for students who are facing problems with their management assignments. His articles have been featured on several websites. He has contributed to the academic enhancement of students from the University of New South Wales, Central Queensland University, Edith Cowan University, etc. He joined the team of My Assignment Services as a consulting expert and now is a full-time academic help provider. His expertise in the field of management covers topics like leadership management, human resource management, business management and several others. His blogs focus on solving the most complex of the queries and simplifying the processes.


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