Semester 1 

This module focuses on the internal structure and organisational management of a financial services provider from three main perspectives: people management, organisational behaviour and systems, and marketing.  Students will be encouraged to consider the theories and principles relating to these areas and to relate these to how the organisation works in practice.  They will be required to compare and contrast the relative merits of different approaches to various aspects of organisational management and discuss the appropriateness of particular solutions. 

This module aims to encourage students to draw together basic concepts of human resource management, organisational behaviour and marketing, and reflect on how they interrelate in the overall management of a financial services organisation.  The first section of the syllabus focuses upon efficient management of human resources as a vital aspect in the successful running of any business and looks at various elements of staff management from both a theoretical and operational perspective. 
The second main section of the syllabus explores the methods of structuring the management of systems designed to ensure appropriate control of key areas such as costs, risks, quality standards and communication. 
The final section of the syllabus then encourages students to draw together the key elements of a successful marketing strategy in the financial services environment.  It examines the key issues relating to the design and development of appropriate products and services that effectively fulfil customer needs in a variety of identified market segments.  Approaches to pricing strategies, responses to changing market demands and issues of corporate and social responsibility are also covered. 

On completion of this module, students will be able to: 
·              compare different approaches to human resource management in financial services organisations 
·              explain and discuss key concepts in the management of people and systems within financial services organisations 
·              apply appropriate recruitment, training, development, assessment and reward systems 
·              explain the key concepts relating to product management and the pricing of financial services 
·              understand the factors affecting the introduction and design of new financial services products 
·              use performance data and management information, from various sources, to explain and analyse key areas of financial services organisation and marketing 
·              explain the links between the various main operational areas of financial services organisations 

·              Human resource management: This section of the syllabus focuses upon the management, competence and effectiveness of people, a key resource in any organisation.  It has been designed to build upon students’ previous generic studies of people management.  Therefore, it spans the recruiting, training, development, assessment and reward processes within financial services HR management from both a theoretical and operational perspective. 
It covers the following issues: 
o             people resourcing 
o             management and work-related competences 
o             workplace flexibility and the management of diversity 
o             training and development systems 
o             reward systems and their alignment to organisational goals 
o             performance management 
·              Organisational behaviour and systems: This section of the syllabus focuses on the various management structures and control systems which financial services organisations, in common with other organisations, need to have in place in order to function efficiently and profitably.  It includes management of costs and risk, quality assurance, information and communication systems, as well as cultural and behavioural attitudes.
It covers the following issues: 
o             control systems within financial services organisations 
o             budgetary control, cost management and risk management 
o             quality as an organisational system and the importance of the internal customer 
o             management information systems and technology
o             organisational structures and cultures
o             ommunication and co-ordination in financial services organisations
o             the virtual organisation 
·              Marketing: This section of the syllabus is designed to build upon students’ previous studies of how financial organisations respond to customer needs.  It explores the key elements of meeting these needs by developing, targeting and marketing appropriate products to correctly identified customer segments.  It analyses the role of product management and the product development process, but there is also a focus on various important factors such as pricing, social responsibility and changing market demands.
It covers the following issues: 
o             developing, tailoring and managing the marketing mix 
o             the role of marketing in the context of social responsibility 
o             the role of the product manager and the value of product management to the organisation
o             introducing new products and the various stages of the new product development process 
o             influences on the take-up of new products 
o             pricing and the factors influencing pricing levels 
o             the broad approaches to pricing and the various pricing strategies for both new and existing products 

The teaching and learning strategy is designed to ensure that the students achieve the learning outcomes by the end of the module.  The teaching and learning methods include formal lecture and tutorial, private study of text and other supporting materials, a formal coursework assignment, informal exercises, both individual and group-based and pooling of experience and knowledge through class and individual discussion.  The assessment strategy is designed to achieve a balance between testing the student's skills of knowledge recall and understanding and those of analysis, research, reflection and application.  This distinction is reflected in the different assessment instruments and the balance between the coursework assignment and the final written examination. 

Essential Reading 
Crost, L., Donnelly, C., Dougan, S. and Norton, A. (2007) Organisational Management in Financial Services.  ifs School of Finance. 
Recommended Reading 
Bratton, J. and Gold, J. (2000) Human Resource Management, Theory and Practice.  2^nd edn.  Palgrave Macmillan. 
Harrison, T. (2000) Financial Services Marketing.  FT Prentice Hall. 
Jobber, D. (2004) Principles and Practice of Marketing.  4^th edn.  McGraw-Hill Education. 
Mullins, L. J. (2004) Management and Organisational Behaviour.  7^th edn.  FT Prentice Hall. 
Journals
European Journal of Marketing 
Financial World 
Journal of Marketing Communications 
Journal of Marketing Management 
Marketing Week (www.mad.co.uk/publication/mw) 
The Marketer 
Websites
www.peoplemanagement.co.uk for all HR issues 
www.efqm.org setting out the standards for European Excellence. 
www.quality-foundation.co.uk the British Quality Foundation. 
www.qualitydigest.com explores a range of management issues.