Business planning Flashcards
What is a business plan?
Formal document contain the goals of the business, method for attaining the goals, time frame to achieve goals.
Important as it sets clear objectives that can be met and measured against
Strategic: 5 years
Operational: 1 -2 years
What are CBRE business objectives?
Short term: increase recruitment and expansion
Medium: establish CBRE as the market leader in key geographies and services lines
Long term: Net zero by 2030
What are your teams objectives?
Accelerate US growth by establishing a team of 3 this year
Recruit 3 more surveyors in the UK
Be the soul drone supplier within our wider department
More collaboration with T&T
More work with Scan to BIM and digital twins
Why is a Business Plan important?
Sets clear goals that can be met and measured against
What are the components of a business plan?
Executive summary
Marketing strategy
Vision and mission statement
Product and services
Organisation management structure
Responsibility and targets
SWOT and PEST analysis
What is SWOT analysis?
Business tool to help shape the business strategy, highlighting areas of concern or opportunity
Strengths, Weakness, Oppertunites and Threats
What is PEST analysis?
Used for understanding the external environment to make strategic decisions
Political, Economical, Social and Technological
How can a Business Plan help a company stay profitable?
Helps secure new funding / investment
Allows resource planning
Supports accurate forecasting and budgeting
Highlights key business objectives
Grows existing client base and projects
Assists in responding to change
What legislation is relevant to business planning
- HMRC
- Companies House
- Corporation TAX, VAT, customs
- Data Protection
- GDPR
- Employment Law
- Health and Safety at Work Act
What are examples of Business Vehicles?
- Sole practitioner
- Partnership
- Limited Liability Partnership (LLP)
- Limited Company
- Public Limited Company
What is the impact of poor business planning?
Too many / few people to do the work
Insufficient use of resources
Missing key opportunities
