Business planning Flashcards
How does your firm market itself using a range of marketing and promotion techniques?
• Television, media and social media adverts
• Sponsorship of clubs/sports teams
• Hosting promotional events
• Word of mouth
• Research publications
What are some of the key things to include in a business plan?
• Analysis of some of the key risks and opportunities facing the business
• Resources required to service clients
• Market/competitor analysis
• Products and services
• Marketing and sales strategy
• Financial plan
Why is it important to forecast fees?
Plan future business activities and ensure you hit your desired minimum profit margin
What sort of financial planning would you use?
Budgets, cash flows and financial/audit controls
What are the different forms of business vehicle?
Sole practitioner, partnership, LLP, limited company and PLC
What is your firms vision?
To be the real estate adviser of choice in the markets they serve. They did not wish to be the biggest, just the best (as judged by our clients)
What is your firm’s business strategy?
Aim to increase the revenues from lower-margin, non-transactional business lines such as property management, in order to improve the overall resilience of the business during economic downturns
What risks does your firm face?
• Threat of COVID-19 impacting on transaction volumes in the Real Estate sector
• Disruptors in the industry e.g. Purple Bricks
What opportunities does your firm face?
• Business is relatively small across continental Europe and there is the opportunity to grow market share
• Founded new subsidiaries to keep pace with the changing nature of the market e.g. Workthere
• Aiming to be a market leader by creating a database to store commercial property information and provide unrivaled insights
What is Corporate Social Responsibility?
Businesses considering their role in relation to the community, the environment, customers and staff
How does your firms objectives pass to individual teams?
• Regular presentations from the Savills CEO of UK & EMEA
• Strategy days to ensure individual teams are aligned with the company strategy
• Email bulletins on the business performance
Why does your company have a Slavery and Human Trafficking Statement?
• Have a responsibility as a global corporate citizen
• Comply with the Modern Slavery Act 2015
How does your firm comply with the Modern Slavery Act 2015?
• Group procurement policy defining minimum standards when procuring goods or services
• Whistleblowing policy
• Training and awareness
• Corporate responsibility policy
