Business Planning

Question 1

Tell me about your involvement with business planning

Answer 1

Submission - Key objectives at BSESC feed into the wider group’s ‘Our vision 2030” - focuses on 10 strategic business priorities. I attend weekly meetings with the land director where I report on new site opportunities, existing site progressions and their alignment with the land strategy

Question 2

What are the corporate objectives of your firm?

Answer 2

BG’s corporate objectives are focused on the long-term.
To build quality homes, strengthen communities and improve people’s lives.
Our vision 2030 provides the framework through which we do this.

Question 3

How do you work towards these corporate objectives in your role?

Answer 3

I ensure that I meet the values of my firm in my everyday work.

Question 4

What are the BG values?

Answer 4

Have integrity
Be passionate
Think creatively
Respect people
Excellence through detail

Question 5

What are some of the typical things you’d find in a business plan?

Answer 5

1. The executive summary
2. A description of the business
3. The market(s) the business will operate in
4. A SWOT analysis
5. Management team and personnel
6. The products or services offered
7. Marketing
8. A financial plan

Question 6

How can can up to date business plan help an organisation in the current economic climate?

Answer 6

The current economic climate is quite volatile, having an up to date business plan means company’s can respond quickly.

Up to date business plans can also:
Guide growth
Support business strategy
Ensure key targets and goals are met
Help manage business priorities
Drive efficiencies.
Identify opportunities.
Allow benchmarking of business results

Question 7

How you you use networking to further your business planning skills?

Answer 7

Networking is key to furthering business planning skills as by networking you are able to meet new people and clients and have discussions around what you do and can offer in a less formal environment.

If you’re facing challenges in your business, your network may be able to provide you with advice. Equally, you’ll be able to share your knowledge and skills to help contacts, which will strengthen your relationships.

You can find fresh ideas and access new knowledge.

Question 8

Why is relationship building important for your role?

Answer 8

Relationship building is important for my role because it’s a people business. I work with a wide variety of external consultants and agents and building rapport and trust means that you can be more efficient.

In land specifically, building good relationships with agents is really important because they can send new opportunities which I can present to my land director.

Question 9

What is a SWOT analysis?

Answer 9

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company’s competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential.

Question 10

What is a PEST analysis?

Answer 10

PEST analysis (political, economic, social, and technological) is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market.

Question 11

What is the difference between a SWOT and PEST analysis?

Answer 11

PEST analysis will only examine external factors that could affect your business (although it will help you think specifically about different areas of interest).

SWOT analysis considers both internal and external factors.

Question 12

Can you tell me about when you have used a SWOT analysis in your role?

Answer 12

An initial site appraisal of a piece of land can be summarised into a SWOT analysis.

When I complete high level initial site appraisals, I summarise them to my land director in our land meetings via a SWOT analysis.

Question 13

Can you tell me about when you have used a PEST analysis in your role?

Answer 13

I have not used one in my role, however I use SWOT analyses.

Question 14

What insurance types have you dealt with and what risks have they protected against?

Answer 14

I have dealt with Professional indemnity insurance via the BG appointment documents when appointing consultants.

PII protects against negligence claims.

Professional indemnity insurance covers the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual.

Question 15

Explain the objectives of the RICS Covid-19 Recovery Business Plan

Answer 15

The objectives of the RICS Covid-19 Recovery Business Plan are to continue to focus on priority markets and sectors, continue to contribute to ESGs (environmental social governance) and continue to modernise the culture of the professional body.

Question 16

Why are RICS consulting on their business plan?

Answer 16

The latest business plan was the 2021 - 2022 ‘Building towards a new future’.

It has been three years since RICS last
reviewed its strategy and business plan.

We have all experienced change and disruption since then, whether from COVID-19, or due to the ongoing structural shifts that have been affecting the built and natural environment.

Question 17

What is the RICS business plan?

Answer 17

Four long-term strategic goals:

• Influential thought leader
  Through collaboration with others, we bring about beneficial change in response to the major challenges the world faces.
• Trusted by our stakeholders and society. We are trusted globally to set and enforce consistent standards for the profession.
• RICS professional qualifications remain in demand. As a result of market respect and demand for our profession’s standards and qualifications, highly talented individuals choose to qualify, commit to lifelong professionalism and work to our standards. We inspire more diverse entrants into a purpose-rich profession that plays a major role in shaping the world we live in. Our professional qualifications continue to remain relevant in a world disrupted by new technology and advances in big data.
• Sustainable 21st century professional body. We continue to generate the financial ability to invest in our vision; the profession and our employees are highly engaged in both our direction and purpose; those who engage with us and consume our products and services are satisfied that these add real value.

Question 18

Why are RICS having a review?

Answer 18

RICS recognise that the world has changed significantly over the past 3 years since the strategy was developed, and particularly in the last 12 months. This has resulted in changing market, member, and public expectations of RICS. To ensure that we can continue to effectively deliver our purpose as a professional body, RICS’ Governing Council has commenced a strategic review of the Institution.

Question 19

What is this RICS strategic review called?

Answer 19

Defining our future

Question 20

What is business continuity and why is it important?

Answer 20

Business continuity is a business’s level of readiness to maintain critical functions after an emergency or disruption. These events can include: Security breaches or Natural disasters for example.

The main goal of business continuity planning is to support key company activities during a crisis. Planning ensures a company can run with limited resources or restricted access to buildings. Continuity planning also aims to minimize revenue or reputation losses.

Question 21

Why might the apprenticeship levy be beneficial to a business?

Answer 21

The levy is designed to put apprenticeship funding in the hands of employers and encourage them to invest in and create apprenticeships.

The wage for a first-year apprentice is less than that of a standard employee. This means that hiring an apprentice can be a cost-effective way to increase the number of employees in a business, allowing them to boost productivity without a huge jump in costs.

Question 22

When is the apprenticeship levy payable?

Answer 22

The levy is paid monthly through PAYE alongside income tax and national insurance contributions.

Employers must declare the apprenticeship levy each month from the start of the financial year.

Question 23

Explain the 2030 vision

Answer 23

We have identified ten strategic priorities that will help us to transform tomorrow - through both what we create, and how we work.

Question 24

Our Vision 2030 - What We Create

Answer 24

Places that stand the test of time:

Customers - Our goal is to put our customers at the heart of our decisions and provide an industry leading home buying experience.

Quality - Our goal is to lead the industry in producing high quality, safe homes for all.

Communities - Our goal is to transform underused land into unique, well connected and welcoming places where people and communities can thrive for the long-term.

Climate Action - Our goal is to play an active role in tackling the global climate emergency by creating low carbon, resilient homes.

Nature - Our goal is to create a net biodiversity gain and make a measurable contribution to the natural environment on every development.

Question 25

Our Vision 2030 - How We Work

Answer 25

Exceptional people and resources:

Employee Experience - Our goal is to create a positive working environment for our people; one that fosters respect, support, wellbeing, safety and inclusivity.

Modernised Production - Our goal is to harness advanced manufacturing and digital technology to build more homes, and to achieve higher standards of quality, safety and sustainability.

Future Skills - Our goal is to equip our people with the skills they need both now and for the future, enhancing social mobility and inspiring new talent to join the industry.

Supply Chain - Our goal is to build a responsible and constructive supply chain; one that is productive, practical and profitable, sustainable, ethical and dependable.

Shared Value - Our goal is to allocate capital to deliver sustainable returns to our shareholders whilst creating value for our other stakeholders including through the work of The Berkeley Foundation.

Question 26

How do BSESC objectives feed into the wider group?

Answer 26

Berkeley group includes six operating companies: Berkeley,
St George, St James, St Joseph, St Edward (a joint venture with M&G Investments) and St William (a joint venture with National Grid).

Each business is autonomous, collaborative and has the expertise and local knowledge to create quality homes and places.