Business Planning Flashcards
1
Q
What procedures does your firm adopt to ensure they are profitable?
A
- timesheets
- project reviews
- team meetings
- yearly performance review
- business development strategy
2
Q
What issues would you experience with high staff turnover?
A
- recruitment costs
- training costs / time
- inconsistency of performance / service provided
3
Q
Fee earning vs non fee earning staff?
A
FEE
- QS
- architect
- planning consultant
NON FEE
- admin staff
- finance
- IT staff
4
Q
What is an investment appraisal?
A
Determines whether a project would be financially viable
Considers the rate of return
5
Q
What would you identify within a business plan?
A
- products and services
- financial forecast
- targets
- marketing
6
Q
How can a business plan help profits?
A
- assist with funding / investment
- grow market share
- highlight key business objectives
7
Q
What is a business model?
A
Strategy to generate revenue and make profit
8
Q
What is a business strategy?
A
Actions the company will take to reach goals
9
Q
What is a business plan
A
Formal statement of goals and how to achieve them
10
Q
What is a SWOT analysis?
A
Strength, weakness, opportunity and threat.
11
Q
What is a PEST analysis?
A
Political, economic, social and technological.
