32. Business Planning

Question 1

What is a SWOT analysis?

Answer 1

• A SWOT analysis can be used to analyse the internal strengths and weaknesses and external threats and opportunities of a company.
• This is carried out with a view to exploiting strengths and opportunities and mitigating weaknesses and threats.

Question 2

What is a PESTLE analysis?

Answer 2

• This is a structured method of analysing the key factors influencing market conditions.
• These factors are:
  o Political influences.
  o Economical influences.
  o Socio-demographical influences.
  o Technological influences.
  o Legal
  o Environmental influences.

Question 3

How do companies write a business plan?

Answer 3

• They undertake an analysis of the market and industry to identify business opportunities and critical success factors.
• For example my company has decided to target £350m of new work in 2024 within established markets. My objective is to identify new opportunities within my current comission to expand our constultancy.
• My company has also identified the defence sector and water as new areas to target.

Question 4

What is a Business Plan?

Answer 4

• A formal statement of the business’s goals with reasons why they are thought to be attainable and the plan for reaching the goals.
• The business plan also provides employers with a common ground to focus upon.

Question 5

What is your firms business plan?

Answer 5

My firm’s business goals is to deliver £1bn worth of social value per year
Achieve £500 revenue

Question 6

How do you contribute to your company’s goals?

Answer 6

Focus on client retention

• Focus on safety.
• Maintain excellence in my work.
• Sharing knowledge within integrated teams.
• Keeping up with new technologies.
• Upskilling new and junior team members.

Question 7

How can a business plan help a company remain profitable?

Answer 7

To grow existing client base and projects
Support accurate forecasting and budgeting
Allows resource planning

Question 8

What components would you identify within a business plan?

Answer 8

Executive summary
Marketing strategy
Vision & mission statements
Products & services
Management Team & organisation structure
SWOT analysis
PESTLE Analysis
Key goals, objectives, short term and long term goals

Question 9

What is social corporate responsibility?

Answer 9

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

This helps companies become aware of how they impact asprcts of society, including economic, social and evironmental

Question 10

Explain how you identify growth opportunities that contribute towards your company’s annual business plan. Provide an example of how your role as a quantity surveyor has directly contributed to meeting these objectives.

Question 11

What are some procedures that your firm adopts to ensure they are profitable?

Answer 11

Timesheets to assess utilisation, planning, setting objectives, targeting clients and growing within existing commissions