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APC Revision > Business Planning > Flashcards

Business Planning Flashcards

1
Q

What is business planning?

A

Business planning is the process of setting goals, defining strategies, and outlining actions to achieve those goals.

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2
Q

Name types of analysis tools?

A

SWOT - strengths, weaknesses, opportunities, threats

PESTLE - political, economic, social, technological, legal, environmental

Porters 5 factors - analysis of industry, barriers to entry, sub products, bargaining power, rivalry pestl

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3
Q

Why have a business plan?

A

Analyse market
Identify opportunities
Develop competence in critical factors
Seeks goals and objectives

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4
Q

Why have planning sessions?

A

Review workload, resources and fees
Identify job opportunities
Identify areas to improve business relations
Review pipeline of opportunities

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5
Q

What is in an appointment document?

A

Scope of works
Fees
Terms of business
Agreement amendments
Contact details

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6
Q

What are found in terms of business?

A

General obligations of services
Client obligations i.e not to solicit staff
Additional services
Liability
Payment term and interest
Force majeure
Intellectual Property Rights
Assignment and subcontracting terms
Formal communications
Complaints handling procedure

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7
Q

What is the Coops business plan?

A

Strategy 2024
Housing and health
Grow food sore sites
Cyclical refresh of stores

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8
Q

How are you assisting with coops plan?

A

Knowledge
Networking
Excellence of work

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9
Q

How can up to date business plans help?

A

Assist within investment/funding
Give instructions
Priorities
Respond to change
Budget
Covid recovery
Staff targets

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10
Q

Procedures to ensure profitability

A

Timesheets
Resource planners
Fee/cost reconciliation tools
Project reviews
Performance reviews
Team meetings
One to ones
Business development strategy
Pipeline monitoring

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11
Q

Issues with high turnover?

A

Increased recruitment costs
Increased training costs
Inconsistent production/performance
Poor staff morale
Lower customer satisfaction
Loss of custom/repeat business
Higher operational costs
Reduced profitability

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12
Q

Fee earner vs non fee earner

A

Fee - QS, values, builder surveys

Non - admin, IT support

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13
Q

What is an investment appraisal?

A

Determine if business/project generates required level of return

Considers: rate of return, payback period, NPV

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14
Q

Competents in a business plan

A

SWOT
PEST
Executive summary
Marketing strategy
Vision and mission statement
Products and services
Team/structure
Financial forecast
Responsibility and targets

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15
Q

How business plans enable companies to be profitable?

A

Secure funding
Grow client base
Highlight key business objectives
Assist with change
Grow market share
Supports accurate forecasting
Allows resource planning

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16
Q

What is a business model?

A

Strategy to generate revenue and make profit from its operation.

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17
Q

Included in a business model

A

Products and services offered
Business niche/sector
Target clients/customers
Route to market entry

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18
Q

What is a business strategy?

A

Outlines actions and decisions company plans to take to reach goals and objectives

Includes what not to do

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19
Q

What is a business plan?

A

Goals
Why attainable
Plan to reach

20
Q

PEST analysis

A

Analyse key factors influencing markets

Political
Economical
Socio-demographically
Technological

21
Q

Porters five factors

A

Analyse supply side

22
Q

What is in a business plan?

A

Vision
Objectives and goals
Strategies and actions

23
Q

Contents of an appointment document?

A

Scope of works
Fee bid assigned to works
TopB
Agreement amendments
Contact details

24
Q

To B incl

A

Intro
Our Obligations
Your obligations
Additional services
Liability
Remuneration
Termination
Force majeure
Intellectual property rights

25
Q

Types of business plan

A

Strategic - to achieve overall goals. Provides framework. Provides benchmarking. Goals and objectives. Foundations to achieve goals. Looks at the future = resources, restrictions, demands.

Departmental - specific to department. Review periodical. Individual metric.

Operational - iSO9001 - international standard for quality management. Working (requirements of services, criteria, resources, processes) and delivery (service, communication to make, requirements of customer, manage changes, review)

Corporate - similar to strategic but focused on operations. Vision, mission, resources, objectives, strategies to reach

26
Q

Organisation structure types

A

Functional - hierarchical

Divisional - groups functions into divisions

Matrix - grid not hierarchy, dual reporting

Flatarchy - not flat or hierarchical

27
Q

What is working capital?

A

Ability to pay current liabilities with current assets

28
Q

What is a stock?

A

Security represents ownership of fraction of company. Profit = stock

29
Q

Types of debtor?

A

Loan - company loan is debtor to bank

Trade - customer/client not paid you for service

30
Q

What is a current radio

A

Current radio = current assets/current liabilities

Below 1:2 - concern to meet debts

1:1 typical

31
Q

What are quick ratios/acid test?

A

Quick ratio = current assets - stock / current liabilities

Measures liquidity = not include value of stock

32
Q

What is gross profit margin?

A

Gross profit = gross profit / turnover x 100

33
Q

Break even?

A

Level of sales needed to achieve to break even

B/E = fixed expenses / gross margin

34
Q

What is net profit?

A

N/P = net profit / turnover x 100

N/P = all costs, declining (which cost increase the most)

35
Q

What is return on capital employed?

A

RoCE = net profit/ net assets x 100

Profit v value of net assets

36
Q

Timescales of plans?

A

1 yr - project planning
2-4 yr - operational
5-10yr - strategic

37
Q

Types of plan

A

Strategic - mid to long terms goals
Departmental - department goals, projects, focus areas
Operational - key objectives and plan, how to achieve
Corporate - strategies to meet goals and mission

38
Q

What is an organisational structure?

A

Show roles within company and reporting

39
Q

What is working capital?

A

Current assets to be converted into cash in a year

40
Q

What are stocks?

A

Share of ownership in company

41
Q

Corporate planning?

A

Create strategic to meet goals and objectives

Helps decision making. Measure performance

42
Q

What is return on investment

A

Income v investment - cost of goods and services from revenues / cost of goods and services sold

43
Q

What should be included in a business plan?

A

Executive summary
Overview
Management background
Service/product provided
Value proposition
Strategic marketing
Market evaluation/analysis
Costs
Cash flow projections

44
Q

What does a business plan help with?

A

Seeking funding
Gaining new clients, instructions
Focus on priorities
Respond to change
Budget
Set targets

45
Q

Types of business structure?

A

Hierarchical
Functional
Flat
Divisional
Matrix

46
Q

How to calculate working capital?

A

Current assets - current liaibilities

APC Revision (17 decks)

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