Business Planning

Question 1

What information is typically included within a business plan?

Answer 1

Executive summary.
Business description.
Market analysis and strategy.
Marketing and sales plan.
Management and organization description.

Question 2

Could you please provide an overview of the different types of business plan?

Answer 2

• Feasibility (practicality of a business idea)
• Strategic (a high-level view of a company’s goals and how it will achieve them)
• Internal (target a specific audience within the business, for example, the marketing team who need to evaluate a proposed project.)

Question 3

What business related information is typically discussed within team meetings?

Answer 3

Wider business performance, fee forecasts, any upcoming pitches and fee oppurtunities.

Question 4

Could you please define Capital?

Answer 4

The money used to build, run, or grow a business.

Question 5

Could you please define stock?

Answer 5

Ownership of a certain good relevant to a business need.

Question 6

Could you please define a creditor?

Answer 6

An individual or institution that extends credit to another party to borrow money.

Question 7

Could you please define a debtor?

Answer 7

A debtor is an entity that owes money / credit to another entity.

Question 8

How can creditors / debtors impact a businesses performance?

Answer 8

They can impact the credit available to a company. This may limit them when paying staff for example.

Question 9

What is included within the Savills business plan?

Answer 9

The five pillars:

• Growth
• Disruption
• Clients
• Financial
• People

Question 10

What is included within the RICS business plan?

Answer 10

• Market overview
• Corporate objectives
• Strategic risks

Question 11

What are some of the corporate objectives of the RICS?

Answer 11

• Positive brand sentiment
• Grow the number of trainee / apprenticeships
• Build engagement between members and the RICS

Question 12

What are some of the strategic risks within the RICS business plan?

Answer 12

• Loss of trust / confidence
• Loss of relevance of RICS and qualifications
• Internal behaviours not in line with external expectations.

Question 13

How do you incorporate a SWOT analysis within your work?

Answer 13

• Team business planning.
• Procurement routes

Question 14

What is a SWOT analysis?

Answer 14

• An assessment of Strengths, Weaknesses, Opportunities and Threats.

Question 15

How do you track new business?

Answer 15

• The team holds an open leads tracker which I input into.

Question 16

How do you find out about new business?

Answer 16

• Internal referrals.
• Pitching for new projects following receipt of an RFP.

Question 17

What is the importance of forecasting fees?

Answer 17

• To ensure we are operating in-line with team and divisional targets.
• Can assist with tracking resource

Question 18

What is an alternative approach to SWOT analysis?

Answer 18

• PESTLE Analysis

Question 19

What is a PESTLE analysis?

Answer 19

• Reviews external facots that impact a business proposal:
• Political
• Economic
• Sociological
• Technological
• Legal
• Environmental