Business Planning

Question 1

What tools does your company use to ensure profits are made?

Answer 1

Timesheets.
Resource planners.
Project reviews.
Performance reviews.

Question 2

What is benchmarking?

Answer 2

Performance of a project is compared to other similar projects, to highlight value-for-money.

Question 3

What is a PESTLE analysis?

Answer 3

Political
Economic
Social
Technological
Legal
Environment

Question 4

What is SWOT?

Answer 4

Strengths
Weaknesses
Opportunities
Threats

Question 5

Issues created for firms, related to high staff turnover?

Answer 5

Expensive and time consuming.
Training new staff.
Team dynamics.

Question 6

SMART targets?

Answer 6

Specific
Measurable
Achievable
Realistic
Time related

Question 7

What is an investment appraisal?

Answer 7

Assess whether business/project is worthwhile in terms of return.

Question 8

Examples of staff that are fee earning vs non-fee earning staff?

Answer 8

Fee - QS, PM, Architect.
Non-fee - Admin, IT tech.

Question 9

How do you contribute to your company’s goals?

Answer 9

Vision 2025 - transforming performance for a green, inclusive and productive world.
- Knowledge sharing.
- Delivering on deadlines and responsibilities.
- Bring in new business.
- Focus on safety.

Question 10

What are parts of your company’s values?

Answer 10

Love a challenge.
Stronger Together.
Bringing out the best in everyone.

Question 11

Porter’s 5 forces model?

Answer 11

SBSEC
Supplier power
Buyer power
Threat of substitutes
Threat of new entrants
Competitive rivalry

Question 12

What is a Joint Venture?

Answer 12

Business arrangement in which two or more parties agree to pool resources. Separate entity.

Question 13

What is working capital?

Answer 13

Amount available for day-to-day use. Describes ability to meet current liabilities.

Question 14

What is meant by business strategy?

Answer 14

Outline of actions and decisions to reach goals and objectives.

Question 15

What is meant by strategic planning?

Answer 15

Managerial process of maintaining a fit between a firms objectives, resources and market.

Question 16

Difference between business strategy and business planning?

Answer 16

Business strategy is concerned with whole organisation.
Business plans are concerned with details implementation after big choices are made.

Question 17

Difference between a vision statement and a mission statement?

Answer 17

Vision is a focus on tomorrow and what it wants to be.
Mission is a focus on today and what they must do to achieve it.

Question 18

What is a business plan?

Answer 18

Summarizes operational/financial objectives of a business.
Timescale of 3-5 years minimum.

Question 19

What is a business model?

Answer 19

Plan implemented to generate revenue and profit.
Contains: product/service, market niche, expense of going to market.

Question 20

How can a business plan help a company in the current climate?

Answer 20

Help secure funding.
Gain new clients.
Focus on priorities.
Budgeting.

Question 21

What would you find in a business plan?

Answer 21

Objectives
Strategies
Forecasts
Marketing

Question 22

What is in my companies business plan?

Answer 22

Growth
NewLeaf
CBRE
Purpose
Sectors
CR

Question 23

How do personal objectives contribute to T&T’s business plan?

Answer 23

Contribute to bids such as TfL.
Contribute to SV Charter with NH.
Contribute to risk management improvement.
Client care at Heathrow is of high quality.

Question 24

Difference between objective and goal?

Answer 24

Goal is a long term general target.
Objective is more short term and includes how its to be achieved.

Question 25

Different types of business plan?

Answer 25

Strategic
Departmental
Operational
Corporate

Question 26

What elements are included in a business plan?

Answer 26

Exec Summary.
Business description.
Market analysis.
Marketing plan.
Competition analysis.
Financial analysis.
Objectives/goals.