Buisness Planning (Level 1)

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.

Question 2

What is a PEST 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 Environmental influences.

Question 3

What are Porter’s five forces?

Answer 3

They are used to analyse the competitiveness of an industry and the barriers to entry.

These typically include:
o Substitute products.
o Bargaining power of suppliers.
o Bargaining power of customers.
o Rivalry amongst existing firms.

Question 4

How do companies write a business plan?

Answer 4

• They undertake an analysis of the market and industry to identify business opportunities and critical success factors.
• Companies should focus their resources in developing their competences in the critical success factors.
• This then leads to the development of goals and objectives with their associated strategies and actions.

Question 5

What is a Client Account Planning session?

Answer 5

• A review of current workload, resources & fees.
• It involves the identification of key client personnel who have influence over job opportunities and identification of who the firm should look to build relationships with.
• A review of pipeline opportunities with that client is also undertaken.

Question 6

What is a Business Plan?

Answer 6

• 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 7

What is contained within an appointment document?

Answer 7

• It includes a clarification of the work scope.
• The agreed fee bid.
• The firms terms of business.
• Any agreed amendments to the firms’ terms of business.
• Contact Details.

Question 8

Does your firm produce an annual account?

Answer 8

• Yes it produces a statement of turnover, gross profit & net profit.
• This must be submitted to Companies House in accordance with the Companies Act.

Question 9

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

Answer 9

At a high level but I would seek further advice from one of our internal Chartered Accountants if necessary.

Question 10

What is your firms business plan?

Answer 10

To create, enhance and sustain the world’s built, natural and social environments.

To reach 20million turnover by 2030.

To become London’s premier QS’ing firm

To expand into the Cambridge and Oxford Market’s

To expand into data center Market

To reach 150 headcount by 2030

Question 11

How do you contribute to your company’s goals?

Answer 11

• 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 12

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

Answer 12

• To support with gaining additional investment, funding or finance.
• To gain new instructions from new and existing clients.
• The business plan will help focus on key priorities.
• It allows the organisation to respond to change.
• For budgeting purposes.
• To support with recovery from Covid-19.
• To facilitate the setting of targets for staff.