Business Planning Flashcards
1
Q
What procedures does you frim put in place to ensure that they are profitable ?
A
- Resource Planners
- Projects reviews
- Performance reviews
- Target setting
- Clear KPI’s.
2
Q
What issues would a company experience with a high staff turnover ?
A
- Increased recruitment costs
- Increased training costs
-Poor staff moral - Reputational damage
3
Q
What components are in a business plan ?
A
- Executive Summary
- Marketing Strategy
- Competition
- Visions and Mission Statements
- Products/ Services
- Organisational Structure
- Targets
- SWOT Analysis
- PEST Analysis (Political, economic, social, technological)
4
Q
What is a business model?
A
A business model is a strategy implemented by an organisation to generate revenue and make a profit.
It consists of: products and services, targets clients,
5
Q
What are KPI’s ?
A
Key performance indicators.
These can be long term, medium term, short term
6
Q
What is meant be the term business strategy ?
A
Actions and decisions planned by a company to reach goals and objectives.
