B Plan Questions

Question 1

What sort of things would be considered when setting a business strategy?

Answer 1

The vision, Objectives and goals, Strategies and Actions

Question 2

What would you expect to see in a five-year plan for a business?

Answer 2

• Strategic Plan – Outlines strategy to achieve goals and objectives.
• Operating Plan – Actions necessary to achieve goals.
• Resource Plan – Quantifies effect of operating plan on resources

Question 3

What is a business plan?

Answer 3

• Written document which describes the business.
• Covers; Objectives, Strategies, Marketing and Financial Forecasts.
• Typically, over a 5-year period.
• Live document which is regularly updated.

Question 4

Does your employer have a business plan and what does it cover?

Answer 4

• Helps clarify the business ideas, set goals and measure progress.
• Required when seeking investment

Question 5

How do staff appraisals influence business planning?

Answer 5

Help guage the direction a business should go and retain staff

Question 6

What is the role of marketing in business planning?

Answer 6

Determines the target market, how best to reach it and how the company will measure its efforts.

Question 7

What sort of policies might a company have within its business plan?

Answer 7

Office attendance

Question 8

What is a SWOT analysis?

Answer 8

A SWOT analysis can be used to analyse the internal strengths (S) and weaknesses (W) and external opportunities (O) and threats (T).

Question 9

What is a PEST analysis?

Answer 9

Method of analysing the key factors influencing market conditions:
- Political influences.
- Economical influences.
- Socio-demographical influences.
- Technological influences.
- Environmental influences.

Question 10

What are Porter’s five forces?

Answer 10

Used to analyse the competitiveness of an industry and the barriers to entry. They include:
- Substitute products
- Bargaining power of suppliers
- Bargaining power of customers
- Rivalry amongst existing firms

Question 11

What is a Client Account Planning session?

Answer 11

A review of current workload, resources & fees. Identification of key client personnel who have influence over job opportunities and identification of who the firm should look to build relationships with.

Question 12

Does your firm produce an annual account?

Answer 12

Yes - Produces a statement of turnover, gross profit and net profit

Question 13

Would you be able to interpret & understand an annual account?

Answer 13

I have a high level understanding

Question 14

What is your firms business plan?

Answer 14

Called: PPS UK&I Business Plan for 2024
Our Purpose: Engineering a better future for our planet and its people.
Goals:
- £1bn of social value
- 90% VOX engagement survey response
- 10% profitability
- £500m revenue

Question 15

What are your company values? How do you contribute to these?

Answer 15

• Safety
• Innovation
• Exellence
• Collaboration
• Integrity

Question 16

What is a market analysis?

Answer 16

Detailed assessment of your business’s target market and the competitive landscape within a specific industry.

Question 17

What are current market conditions and trends in the construction sector that you work in?

Answer 17

decarbonization, sustainability, ED&I, greater compliance with fire, Identify local authority clients, retrofit.