Business Planning Flashcards
Level 1 - Business planning
What is a SWOT / PEST analysis?
- SWOT
* 2. Analysis of the internal Strengths, Weaknesses, Oppurtunities and external Threats
* Basis for business strategy
PEST - Structured analyses of key factors influencing market conditions
Level 1 - Business Planning
What is a business plan & what are some of the typical things you’d find in a business plan?
- A business plan is a roadmap that summarises a company’s objectives and how it plans to realise their goals.
It includes things such as;
* Executive Summary
* Description of the business
* Market analysis & strategy
* SWOT analysis
* Financial forecast
* Products & services
* Management team and personnel
* Objectives & goals
Level 1 - Business Planning
What is your role in achieving your companies business objectives?
- Generate income
- Maintain and build new business relationships
- Successfully deliver projects
- Help upskill team
- Keep upto date with new technologies and systems
- Be familiar with my companies key objectives
Level 1 - Business Planning
How do you think an up to date business plan can help an organisation in the current economic climate?
- Gain investment or finance
- Gain new clients & new instructions
- Focus on key priorities
- Encourages proactiveness
- Budgeting purposes
- Sets targets for staff
- Allows company to respond to change
Level 1 - Business Planning
You passed your APC today, how would you go about planning to run your own business?
- Get the appropriate Insurances
- Publish a complaints handling procedure
- Register the business with RICS
- Display appropriate designations
Level 1 - Business Planning
What are the different forms of business plans?
- Operational
- Strategic
Level 1 - Business Planning
What are the key differences between operational and strategic business plans?
- TBA
