Business Planning

Question 1

What is a Business Plan?

Answer 1

• A formal statement of goals, why they are achievable, and the plan for reaching these goals.
• May contain background information on the team or company
• Presented to funders/investors to fund business

Question 2

What are the contents of a Business Plan?

Answer 2

• Executive summary
• Business concept i.e. industry, firm structure, good/service
• Strategy and actions to implement
• Products/services and their competitive advantages
• Markets you are pursuing
• Background of management team and employees
• Competition and rivals
• Design and development plan
• Management plan
• Financial statements
• Financing needs

Question 3

What are the key headings of a Business Plan?

Answer 3

• Introduction
• Short, medium and long term business objectives
• Financial performance targets
• Market analysis – Opportunities and Threats
• Business analysis – Strengths and Weaknesses

Question 4

What is G&T’s Business Plan?

Answer 4

• Increase turnover and profit
• Diversify project portfolio
• Maintain independence
• Continue to expand PM division
• Long-term strength to counter Brexit, next recession etc.
• Close less profitable European offices and focus on American market which is rapidly expanding
• Promote NextGen, develop chartership and apprenticeship programmes

Question 5

What is the RICS’ Business Plan?

Answer 5

• Gain market recognition of RICS standards in economic/political centres of world
• Take leadership role in development and regulation of international standards
• Be a role model as a responsible organisation e.g. anti-bribery, sustainability
• Grow the profession in strategic markets of Africa and Asia
• Ensure profession develops through training, innovation, knowledge, CPD
• Ensure members understand its direction and take pride in being MRICS

Question 6

RICS Business Plan 2021

Answer 6

1. Introduction from Chair of Management Board (Paul Marcuse) and CEO (Sean Tompkins)
2. Long-term strategic goals
3. Objectives and targets for above goals (2018 – 2021)
4. Plans to achieve goals
5. Building profession in priority markets
6. Strategic risks
7. Current financial strength