Business planning Flashcards
What are the long term goals of the RICS?
- Influential thought leader,
- Trusted by our stakeholders and society
- RICS professional qualifications remain in demand
- Sustainable 21st century professional body
What are some strategic risks of the RICS?
- Insufficient financial bandwidth
Mitigation measure: increased financial funding for the next 3 years with
increased headroom to manage rising uncertainty without having to deplete our own internal reserves - Loss of trust and confidence in RICS
Ensuring the profession remains professionally fit during the crisis by providing free access to CPD and regular updates to professional guidance and standards.
increased levels of engagement with governments - Loss of relevance of RICS and its qualifications for the profession
- Setting standards and enforcing them
careful case management and improved expectation management
How were the Covid-19 Business goals refined?
• Accelerated digitalisation, where RICS aims to be digital-first but not digital-only
• New focus on Environmentally Social and Governance (ESG) through:
o reducing carbon footprint, reduce waste,
o improve performance on diversity and inclusion
o Frequently communicate the ESG direction to the government
What is the need for a business plan?
It is a document that details the financial and operational objectives of a business in order for the business to achieve its long-term goals
What things do you need to consider when setting up this business?
Set up a complain handling procedure
Get relevant insurances like professional indemnity
How do you contribute to your company’s goals?
Delivering and exceeding my responsibilities
Keeping up with new technology
Sharing knowledge
What is a business model?
It is the plan implemented by a company to generate revenue and make a profit from operations and can include
- The product/service the business believe has value for the customer
- Target audience
- Expense of binging a product to the target market
What are the Skanska Financial Targets?
• Set on profit margins of 3.5%
What are the sustainability targets?
- All Commercial Development projects are Green and in Construction, green order bookings vary from only a few up to 75%
- reduction of the company’s own carbon emissions by 70 percent as early as 2030, with 2015 as the base year.
What are the market opportunities?
- Commercial Development established operations in the U.S., as well as in regional cities in Poland and in Bucharest, Romania
- Residential Development established operations in Warsaw, Poland
What are key risks for Skanska?
- Ethical Breach,
- Lack/loss of key employees
- Macro financial instability
- Accident with multiple fatalities
- Increased competition
- Political risk
- Widespread IT system failure/security risks
What is the Health and safety goals for Skanska?
- Zero lost time accidents
- Engagement with new employees and supply chain partners
- An inspired integrated H&S team delivering great professional solutions – move from hands-on approach to coaches and leaders of change
- Good practice in all areas of the H&S Roadmap
What are the Skanska Goals?
- Industry-leading total shareholder return
- Balanced value creation between Construction and Project Development
- Recognized as a preferred partner when it comes to creating solutions that meet customers’ needs
- Living our values and recognized as a value-driven company building for a better society
- an injury-free and ethical environment
- the most attractive employer in our industry
- A company fostering One Skanska and high performing teams
- Improved operational efficiency
What did you understand by reading the Covid business plan?
• What the key objectives of the covid plan is and what is the strategic risks
What is SWOT analysis?
A SWOT analysis is an organized list of your business’s greatest strengths, weaknesses, opportunities, and threats.
