Business Planning

Question 1

What is a business plan?

Answer 1

It is a logical decision-making process based on marketing analysis & forecasting to set a company’s goals and objectives

Question 2

What are the essential elements of a business plan?

Answer 2

Exec summary,
Company description,
Products and services,
Market analysis,
Strategy,
Team,
Financial plan

Question 3

What factors impact a business plan?

Answer 3

Opportunity,
Risk of business,
Resources required to service a client

Question 4

What is a SWOT analysis?

Answer 4

Strengths
Weaknesses
Opportunities
Threats

Question 5

Why is a fee forecast important?

Answer 5

Critical to plan future business activities

Question 6

Why are budgets, cash flows and financial accounts important?

Answer 6

To ensure correct allocation of resources and expenditure

Question 7

What are the 5 types of businesses?

Answer 7

1. Sole practitioner
2. Partnership
3. LLP
4. Limited company
5. PLC

Question 8

What is a sole practitioner?

Answer 8

Sole ownership - responsible for debts and liabilities

Question 9

What is a partnership?

Answer 9

2 or more people. Sharing ownership and responsibility

Question 10

What is a LLP?

Answer 10

Similar to a partnership but partners have limited liability so personal assets are protected

Question 11

What is a limited company?

Answer 11

Business is considered separate legal entity

Question 12

What is a plc?

Answer 12

Publicly sells shares on stock exchange

Question 13

What is CBREs strategy & objectives

Answer 13

1. 3 Cs: commercial success, colleague engagement and client satisfaction
2. UK pillars: people, growth, d&t, sustainability, data, culture and brand