APC Mandatory - Business Planning Flashcards

Business

1
Q

Tell me about your involvement with business planning.

A

I regularly participate in team meetings of which I contribute and listen to ideas of future development of the practice.

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2
Q

What are the corporate objectives of your firm? How do you work towards these in your role?

A

Corporate objective are to increase turn over, diversity and grow geographically. I work towards these by undertaking additional training and CPD to further my learning.

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3
Q

What are some of the typical things you’d find in a business plan?

A

Executive summary. Company Description Product and Services Market Analysis. Strategy and implementation. Organization and Management Team. Financial plan and projections

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4
Q

How can an up to date business plan help an organisation in the current economic climate?

A

Funding. Gain new clients and customers. Help focus on priorities. Help to focus on organisational change. To set targets for staff. Set budgets

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5
Q

How do you use networking to further your business planning skills?

A

Networking enables you strengthen business connections, gain new ideas and information and develop long term relationships

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6
Q

Why is relationship building important for your role?

A

To improve my career development.

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7
Q

What is a SWOT / PEST analysis?

A

SWOT analysis is a strategic planning and strategic management technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation.

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8
Q

Can you tell me about when you have used one in your role?

A

I have used a swot analysis in my own development to target areas of weakness which I can improve through CPD

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9
Q

What insurance types have you dealt with and what risks have they protected against?

A

PII Ð negligence, public liability Ð injury to third party, Interruption insurance - Covid

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10
Q

Explain the objectives of the RICS Covid-19 Recovery Business Plan.

A

The COVID-19 Recovery Business Plan 2020-21 seeks to continue the existing strategic direction for RICS and the profession, and delivers on our strategic objectives. However, it plots how to achieve this in the context of a significantly changed environment.

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11
Q

Why are the RICS consulting on their business plan?

A

RICS focus is firmly on the next 12 months and establishing a new normal baseline to our forward business planning. 2020-21 is a reset and recovery business plan year, but our aim is to end the year having pioneered a new, more resilient RICS, fit for the future and capable of responding rapidly to ongoing and significant socio-economic changes and trends that impact our profession.

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12
Q

What is this RICS strategic review called?

A

Defining our future

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13
Q

What is business continuity and why is it important?

A

A business continuity plan positions your organization to survive serious disruption.

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14
Q

Explain how the apprenticeship levy works.

A

The apprenticeship levy is a form of taxation designed to help companies offer more apprenticeships.

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15
Q

Why might the apprenticeship levy be beneficial to a business?

A

Improved frameworks, increased productivity and the development of a range of new services

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16
Q

When is the apprenticeship levy payable?

A

All eligible employers will have to pay the 0.5% apprenticeship levy amount at the end of every month.