Business Planning Flashcards
What is the importance of considering the new business of RICS and statute when establishing a new business?
Consider the new business of RICS and statute when establishing a new business.
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What are some key factors to include in a business plan?
Key factors to include in a business plan include an analysis of the opportunities and risks of the business and the resources required to service clients.
Business Planning
Why is a SWOT analysis considered a useful tool?
A SWOT analysis can be a useful tool to use - understand its merits and how to use one.
Business Planning
Why are fee forecasts crucial in planning future business activities?
The use of fee forecasts is crucial to plan future business activities and ensure attainment of a desired minimum profit margin.
Business Planning
What are some important financial controls in business planning?
Budgets, cash flows and financial/audit controls are important to ensure the correct allocation of resources and expenditure.
Business Planning
What forms of business vehicles should be considered in business planning?
Understand the different forms of business vehicles - i.e. sole practitioner, partnership, LLP, limited company and PLC.
Business Planning
How can a business monitor its performance in business planning?
Consider how a business can monitor its performance and what key management tools would be needed.
Business Planning
