Business Planning Flashcards

1
Q

What is a business plan? And what are the key elements?

A

A business plan is a document that defines the strategic direction of a firm typically over a three to five year period. Typical elements include:
- Vision statement
- Internal and External analysis
- Strategic Goals
- Strategy for achieving goals
- Annual objectives
- Measurements of success
- Key risks
- Financial Planning

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2
Q

What is the Arcadis business plan and what is your role within it?

A
  • Review of internal and external environment - SWOT
  • Review of past strategy of ‘creating a sustainable future’
  • New Strategy for 2020-2023- maximising impact:
    - Digital leadership
    - Sustainable solutions
    - Focus and scale
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3
Q

Are business plans mandatory?

A

They are not a statutory requirement, but an essential element of effective planning and defining/monitoring a firms’ strategic direction.

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4
Q

What are some tools for analysing the internal and external environment?

A

SWOT (Strengths, Weaknesses, Opportunities, Strengths)
PESTEL (Political, Economic, Social, Technological, Environmental, Legal)

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5
Q

What is the RICS business plan?

A

The RICS business plan focusses on 5 key pillars, which are divided into 18 responses to the Alison Levitt independent review in 2021. This includes a review of both the internal and external environment, with measurements of success for each of the 18 objectives.

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6
Q

What are SMART objectives?

A
  • Specific
  • Measurable
  • Achievable
  • Realistic
  • Time bound
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7
Q

What is an investment appraisal?

A

A process used to assess whether a business venture is viable in terms of return on investment.

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8
Q

Give examples of fee earning staff and non-fee earning staff.

A

Fee earning - PM, CM, architect etc. Non-fee earning HR, IT technicians, Admin etc.

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9
Q

What is the role of an organogram?

A

To define the structure of an organisation or project. To see what roles individuals are undertaking, and the subsequent hierarchies between them.

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10
Q

How do you contribute to your company’s goals?

A
  • Brining in revenue from my projects
  • Knowledge sharing
  • Health and safety moments
  • Mentoring new graduate and junior staff
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11
Q

What does Porter’s five forces model show?

A
  • Buying power
  • Supplier’s power
  • Threat of new entrants
  • Threat of substitutes
  • Competitive rivalry
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12
Q

What is meant by business strategy?

A

an outline of the actions required for a business to deliver on its goals and objectives.

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13
Q

What is the difference between a vision statement and a mission statement?

A

A vision statement focusses on the future, whereas a mission statement focusses on the present.

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14
Q

What is a business model?

A

A business model is the plan implemented by a firm to achieve a profit.

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15
Q

How can a business plan help a company to navigate the current climate?

A
  • Understand the external environment
  • Possibly diversify into new markets
  • Pursue new client s
  • Help secure additional funding if required.
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