Business planning Flashcards
What is a business plan?
Document that outlines a company’s goals and the strategies to achieve them
What do you find in a business plan?
*Exec summary
*Business description
*Market analysis and strategy
*Marketing and sales plan
*Operating strategy
*Company structure
*Financial strategy
*Objectives/goals
Can you tell us about your company’s current business plan?
*Grow the portfolio of £5bn by 2032
*Deliver pipeline of 8.4m sqft over next 10 years
*Identify and execute further large-scale development and acquisitions
*Move into more cities
*Provide full product mix
What is your firm’s vision?
Create thriving, sustainable cities by offering outstanding office, coworking, retail, and lab spaces
What is meant by the term business strategy?
A business strategy outlines the actions and decision a company plans to take to reach its business goals and objectives
What is the purpose of a company mission statement?
Send out clear message to the industry and clients as to what the business is about and what they can expect
What is your company’s mission statement?
Drive inclusive, sustainable economic growth by investing in science and technology infrastructure enabling businesses to form, scale and grow through exceptional workspaces
What is your company’s management structure / business model?
*Bruntwood SciTech is a joint venture between Bruntwood, L&G and GMPF.
*Functional/Hierarchical management structure
*PropCo and OpCo structure
What are your company’s values?
Dream and deliver, Never sit on the sidelines, Be creatively commercial, Be brilliant to work with
How do you ensure that you contribute to the achievement of your company’s objectives / business plan?
Through the design and planning of development projects, ensuring spend/finances are inline with the business plan, monthly development meeting to ensure projects are on target
What is the relevance of a SWOT or PEST analysis to business planning?
Help evaluate the feasibility and potential strengths and weaknesses of a business. Allow you to identify areas to target and improve. Analysis internal and external forces affecting the business.
What procedures does your firm adopt to ensure they are profitable?
Regular project reviews, yearly performance reviews, regular business updates, progress reports, team meetings, business development strategy sessions, project pipeline monitoring
How can a business plan help a company remain profitable?
*Assist with securing new funding and investment
*To grow existing client base and projects
*Highlight key business objectives
*Assist with responding to change
*Grow market share
*Supports accurate forecasting and budgeting
What is a business model?
A business model is the strategy implemented by an organisation to generate revenue and make a profit from its operations
What would a business model include?
*Products or services being offered to the client
*The business niche or sector being operated in
*Target clients/customers
*The route to market entry including associated costs
What issues would a company experience with a high staff turnover?
*Increased recruitment costs
*Increased training costs
*Poor staff morale and performance
*Lower customer satisfaction
If you were to set up in practice as a sole practitioner and how would you prepare a business plan?
Covering key areas such as business objectives, market research, services offered, and financial planning. I would start with an executive summary outlining my mission and goals, followed by an analysis of my target market, competitors, and unique selling proposition. I would detail my service offerings, pricing strategy, and marketing approach, ensuring compliance with RICS regulations. An operational plan would outline the necessary resources, technology, and professional indemnity insurance. Financial planning would include revenue projections, operating costs, and cash flow management. Finally, I would assess potential risks and outline growth strategies to ensure long-term success.
What are Bruntwood’s short, medium and long term objectives?
*Short: Complete ongoing developments and start to let them, continue with on site developments
*Medium: New developments in current cities
*Long: Expand into future cities
What is corporate social responsibility?
Businesses considering their role in relation to the community, the environment, staff and clients
What are the different forms a company can take?
*Sole trader
*Partnership
*Limited Liability Partnership
*Private Limited Company
*Public Limited Company
*Non profit
Can you give an example of a time you had to align your work with business objectives?
Recently, I worked on a project where budget constraints were identified. By reviewing financial forecasts and adjusting project timelines, I ensured alignment with the company’s financial strategy, preventing overspending while still achieving key deliverables.
