Business Planning

Question 1

What is business plan?

Answer 1

A formal statement of business’ goals with reason why they are thought to be attainable and the plan for reach the goals

Question 2

Why is business planning important?

Answer 2

It helps your team and investors understand your vision for the company.

Question 3

How do companies write business plans?

Answer 3

Market research, focus on resources, then leads to development of goals and objectives with associated strategies and actions

Question 4

What is your company’s 5-year plan?

Answer 4

Refer to BCS

Question 5

What is your company’s vision?

Answer 5

Refer to BCS

Question 6

What is the typical content of business plan?

Answer 6

Objective, Staffing, Market Research, Financials, Strategy and Planning, Legals

Question 7

How do you contribute to your company’s goals?

Answer 7

Safety, maintaine excellence on work, sharing knowledge with teams, keeping up with technologies

Question 8

What is KPI?

Answer 8

Key Performance Indicator. Quantifiable measure of performance over time for business objectives
Example: Satisfaction Rate, Time over Work Efficiency, etc.

Question 9

What is SWOT Analysis?

Answer 9

Used to analyse strength, weakness and external threats and opportunities of a company.

Question 10

What is PESTLE Analysis?

Answer 10

Structured method of analysing key factors influencing market conditions. Political, Economical, Social, Technological, Legal and Environmental

Question 11

Why are business plans need to be up to date?

Answer 11

• Business helps focus in key priorities
• To gain new instructions from new and existing clients
• Allows organisation to respond to change
• Budgeting purposes