Business Planning

Question 1

What is a business plan?

Answer 1

It is a formal statement of business goals, how they are attainable and the actions to reach them.

Question 2

What is in a business plan?

Answer 2

Includes:
The business vision
The objectives and goals
The strategies and actions

Question 3

What is SWOT analysis

Answer 3

STRENGTHS and WEAKNESSES, external OPPORTUNITIES AND THREATS

Question 4

PEST analysis is?

Answer 4

It is the study of macro-environmental factors affecting a business and is used in strategic planning.

POLITICAL
ECONOMIC
SOCIAL
TECHNICAL

Question 5

What should be included in an appointment?

Answer 5

Scope of work / services.
Agreed fee to align with agreed services.
Terms of engagement. (including complaints procedure)
Any amendments to ToE as agreed with legal council.
Contact details.
Any other pertinent information.

Question 6

How do I comply with Grafton’s Business Plan

Answer 6

I comply with Grafton’s business plan through seeking to achieve the vision of meticulous management and total discretion, every time.

I maintain a commitment to developing my own knowledge and that of others.

Question 7

How are business plans written?

Answer 7

An analysis of the market to identify opportunity.
Analysis of competitors.
Marketing strategy.
HR strategy.

Question 8

Do Grafton produce company accounts?

Answer 8

Yes, as required by the companies act 2006. We submit an annual return to Companies House.

Question 9

Can I interpret company accounts?

Answer 9

Yes at high level.
If I required a more detailed review I would consult an internal chartered company accountant.