Business Planning Flashcards
What is a business plan? What do you find in a business plan?
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals.
COMPONENTS * Clarify business ideas * Spot potential problems * Set out goals (including budgets and pathways for change where necessary) * Measure your progress
Answer – E – MMS
– Executive summary
– Market and sales strategy (current & target position)
– Management team and personnel (current & target position)
– Services (current & target position)
Can you tell us about your company’s current business plan?
Summary - double net revenue size and grow exsiting client accounts. Be the consultant of choice in the global marketplace and achieving 90% reduction in GHG emissions by 2040.
Expansion on this:
Our vision is to be the consultant of choice in our global marketplace, and our values are progress, respect, integrity, drive, and excellence. (PRIDE)
We aim to improve society by considering social outcomes in everything we do, relentlessly focusing on excellence and digital innovation, transforming our clients’ businesses, their communities and employee opportunities.
We also commit to achieving a 90% reduction in GHG emissions by 2040 and to design and deliver our projects to maximise our contribution to the UN SDGs.
What is your company’s management structure / business model?
Mott MacDonald is an employee-owned engineering, management and development consultancy.
It has a corporate governance framework based on the Wates Principles.
Its Executive Board has eight directors who lead the global business and uphold the highest standards of business conduct.
Its vision is to be the consultant of choice in its global marketplace, and its values are progress, respect, integrity, drive, and excellence.
It aims to improve society by considering social outcomes, excellence and digital innovation, and transforming its clients’ businesses, communities and employee opportunities.
It commits to achieving a 90% reduction in GHG emissions by 2040 and to maximise its contribution to the UN SDGs
What are your company’s values?
PRIDE Values
Progress, Respect, Integrity, Drive,
Excellence
These values guide their behaviour, shape their culture and inform their relationships with their clients, stakeholders and each other.
Progress: They drive change and use it to create opportunity. They aim to make a lasting positive difference for present and future generations. They actively develop themselves as individuals and professionals.
Respect: They always care about the human and environmental impact of what they do. They value all peoples and cultures, and promote equality, diversity and inclusion. They treat everyone with respect.
Integrity: They deliver on their promises. They behave ethically and do not tolerate bribery or corruption. They uphold safety, security and wellbeing as a fundamental right of all.
Drive: They constantly stretch their thinking to find extra value for their clients and their end-users. They work as one Mott MacDonald, connecting all their skills to create the best outcomes. They stay focused and persevere to achieve their goals.
Excellence: They act on their belief that there is always a better way. They use their restless curiosity and leading-edge skills to challenge and innovate. They connect their people and experience to turn opportunity into the best outcomes for all.
What is a SWOT analysis?
- A SWOT analysis can be used to analyse the internal strengths and weaknesses and external threats and opportunities of a company.
- This is carried out with a view of exploiting strengths and opportunities and mitigating weaknesses and threats.
What is a PESTLE Analysis
Tool to evaluate external factors perform prior to SWOT
This is a structured method of analysing the key factors influencing market conditions.
These factors are:
* Political influences,
* Economic influences
* Socio-demographical influences
* Technological influences
* Legal
* Environmental influences.
What are Porter’s five factors?
They are used to analyse the competitiveness of an industry and the barriers to entry.
These typically include:
* Substitute products
* Bargaining power of suppliers
* Bargaining power of customers
* Rivalry amongst existing firms.
How do you ensure that you contribute to the achievement of your company’s objectives / business plan?
Completing timesheets, this is used when compiling goals and understanding position of the company.
Ensure I work at a high standard to get repeat business and aim to achieve client objectives while managing their expectations. Taking on feedback and LFE.
How can an up-to-date business plan help an organisation?
Ensures that the current market conditions have been analysed when producing objectives and goals and ensure these remain relevant and manageable. E.g. UK change in law could impact a goal and make it unrealistic such as lock down impacting the growth of recruitment.
Helps with budget.
What is business continuity and why is this important?
Business continuity is the process of developing proactive strategy to ensure an organisation’s critical functions and operations can continue in the face of unforeseen disruptions.
The importance of Business Continuity Planning lies in its ability to safeguard an organisations against various external and internal factors. It goes beyond the traditional business plan by focusing on how the organisation will continue to function in the face of adversity.
Tell me about your involvement in business planning?
I attend the annual meeting about the business plan and make sure I update my timesheet each week. This is used when undertaking internal analysis in complying the business plan.
I attend business planning webinar where the head of defence explains what a business plan is.
What are the different types of business plans?
Start up business plans to help get investment.
Corporate business plans
Departmental and regional (e.g. APD)
Each business plan will be different, they have to be tailored for the company.
What is CRM?
Client relationship management includes all of the steps your organization takes to maintain interactions with prospective, new, and existing clients.
This can include: a structured system to track and manage your clients, client relationship goals and milestones and designated client relationships reps.
How does a Feasibility Study differ from a Business Plan?
A Feasibility Study is a formal document that assesses the viability of profitability of a project. It helps identify the project’s weaknesses and strengths and asks ‘should we do this?’
While a feasibility study helps you decide if you should proceed with a business idea or project, a business plan guides you on how to proceed once you’ve decided to go ahead. It’s important to note that these two documents are interconnected and often used together in the planning stages of a business.
What is contained within an appointment document?
- Includes a clarification of the work scope.
- The agreed fee bid.
- The firm’s terms of business
- Any agreed amendments to the firms terms of business
- Contact details.
