Business Planning Flashcards
What is a business plan?
A business plan is a written description of a business’ future. A document which describes what you plan to do and how.
When would you produce a business plan?
For every new year to provide refreshed direction
Why produce a business plan?
- Implement a strategy for the company to achieve
- Attract or satisfy investors
- Attract likeminded employees and clients
What is a SWOT analysis?
A SWOT analysis is a structural analysis of something including the strengths, weaknesses, opportunities and threats.
What is a PESTEL?
A PESTLE analysis is a framework for assessing macro-factors facing a company. It examines the political, economic, social, technical, environmental and legal factors.
What is your role within the company’s business plan?
MSC use the RSP which different functions create. I assist my Director in creating the ‘Improving the Environment’ plan. We workshop this in November of each year. Example additions include embedding CarboniCa in the business to reduce carbon and BNG upskilling was new for this year. I also added measuring our scope 3 onto the plan
What is the vision or mission of MSC?
To be the ‘low carbon contractor of choice’ in the market. We will create a lasting legacy to improve lives and to tackle the climate and ecological crises
What is MSC’s business plan?
MSC has a 5-year responsible business plan which sets direction for performance. The RBP aligns with MSG’s total commitments, specifically ‘Improving the Environment’ and ‘Enhancing Communities’. KPIs include % turnover of CarboniCa audits, % of BNG assessments, % 10tC
How would I set up as a sole practitioner and create a business plan?
The starting point for any set up is a business plan. This is to dictate what you will achieve and how, and to encourage funders. The plan should include a service or product, resources, finances, clients and growth plans. I would so a PESTLE analysis. I would look at the RICS advice (and Modus) on which type of business structure e.g. sole practitioner or limited company.
What is your teams financial footing within the business?
We do not generate capital the way other divisions do. We sit in the central management team and are an ‘overhead’ function. Thus, we are a work winning function primarily as our clients become more climate conscious.
