Business Planning Flashcards
What is a SWOT Analysis?
A strategic planning method that analyses the Strengths, Weaknesses, Opportunities and Threats of a business venture.
If you were writing a business plan give me an example of three short, medium and long term goals.
Short - Grow and develop existing Client base, develop some standard operating procedures, attract quality staff
Medium – Retain quality staff, continue to grow Client base, Pinpoint areas of business growth.
Long – Continue to increase turnover, Expand company locations
What are some key points from the G&T Business Plan?
Continuing to provide world class service to Clients.
Continuing to onboard high-quality talent to the organisation.
Continuing to grow organically as well as through the assistance of the recent partnership with Hennick and Co.
Why is it important to stay informed on an organisation’s business plan?
It keeps you informed on the direction the business is going in.
How does your internal resource schedule work?
We allocate our hourly time per month across the projects we are involved with. This highlights whether the business is over resourced, under resourced or particularly reliant on work in specific sectors.
What is benchmarking?
A process where estimate performance (such as cost) is compared to other similar projects. This can highlight whether the design is good value for money or whether the Contractor is offering a price in line with the market.
What is the difference between business strategy and business planning?
Business strategy concerns the entire organisation such as what it produces, where it competes and how it allocates resources.
Business planning concerns how specific choices are implemented that contribute to the overall strategy.
What is a business plan?
A document that summarises the operational and financial objectives of a business. Includes the exec sum, marketing strategy, management team, financial forecasts and SWOT analysis.
What are the four main types of business plan?
Strategic, Operational, Corporate and Departmental
