Business Planning

Question 1

What is a business plan and what is its purpose?

Answer 1

A business plan is a formal roadmap for a new start business by outlining key performance and financial objectives.

Question 2

Can you name 5 things you would find in a companys business plan?

Answer 2

1) Profit & loss forecast
2) SWOT analysis
3) Cashflow forecast
4) Mission statement & objectives
5) Competition analysis

Question 3

How might a business plan help a business?

Answer 3

1) Obtain funding
2) Plan for future success
3) Help employees meet targets

Question 4

Can you name 3 objectives within the RICS business plan?

Answer 4

1) Increase diversity among members
2) Improve stakeholder trust & confidence
3) Increase engagement between members and RICS

Question 5

What is PESTLE Analysis?

Answer 5

Acronym external forces that will impact a business:

Polictical
Economic
Social
Technological
Legal
Enivornmental

Question 6

What is SWOT analysis?

Answer 6

An acronym to assess the strengths, weaknesses, opportunities and threats a business might face.

Question 7

What is your company’s business plan and how do you contribute to this?

Answer 7

Shear focus on achieving 2 outcomes which are certainty and resilience. Which will be achieved by focusing on four main areas: People, financial performance, Delivery consistency and investment in key growth engines.

We are now focused on the following sectors healthcare, rail, defense, nuclear, data centers and science/research.

I am currently working on one of the key sectors (data centers) and strive towards certainty every day in my role through accurate cost reporting and risk management. I also ensure there is always a contingency plan in place for key commercial decisions to ensure resilience.

Question 8

How does your business respond to macro events such as world events?

Answer 8

We have adapted to key challenges such as inflation due to the Covid, Brexit and the Ukraine war, by avoiding fixed sum contracts and only accepting contracts on the right terms (such as inflation provisions). We have also made amendments to contracts which add additional relevant events/matters for future pandemics.

Question 9

What business objectives can a business plan help achieve? Name 3?

Answer 9

1) External Funding
2) Obtaining new clients
3) Set budgets
4) Set staff targets