Business Planning

Question 1

What is the difference between a business strategy and a business plan?

Answer 1

A business strategy looks at the business as a whole, outlining goals and objectives.

A business plan looks at certain elements of the strategy and how they can be implemented.

Question 2

How would you assess the internal and external factors in a business plan?

Answer 2

Internal - SWOT (Strengths, weaknesses, opportunities and threats)
External - PESTLE (Political, Economic, Social, Technological, Legal, Environmental)

Question 3

What are some of the objectives of your companies business plan?

Answer 3

Vision 2025

Green
Productive
Inclusive

Question 4

Are you aware of the RICS business plan and objectives?

Answer 4

Financial;
Repay furlough money received and reduce RICS’ need to access external financial support.
Begin to strengthen financial reserves.

Corporate;
Influential thought leader.
Sustainable 21st century professional body.
Involved and engaged members.
RICS qualifications in demand.
Trusted by stakeholders and society.