Business Planning Flashcards
How does your firm market its business over the short, medium and long term, using a range of marketing and promotion techniques?
What are the key factors to include in a business plan include an analysis of the opportunities and risks of the business and the resources required to service clients?
What are the merits of a SWOT analysis and how do you use it?
What is the use of fee forecasts and what are they crucial for?
They are crucial to plan future business activities and ensure attainment of a desired minimum profit margin
What are budgets, cash flows and financial/audit controls important for?
They’re important to ensure the correct allocation of resources and expenditure
How would you set up in practice as a sole practitioner and how would you prepare a business plan?
What are the different forms of business vehicles?
Solo practitoner, partnership, LLP, limited company and PLC
How can a business monitor its performance and what key management tools are needed?
How have business plans coped with the pandemic?
