Business Planning Flashcards
Level 1
What is a SWOT Analysis?
A study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats Strengths Weaknesses Opportunities Threats
What might a SWOT analysis might show for D+S?
Strengths (S) and weaknesses (W) refer to internal factors, which are the resources and experience readily available to you.External forces influence and affect every company, organization and individual. Whether these factors are connected directly or indirectly to an opportunity (O) or threat (T), it is important to note and document each one.
How to D+S convey their business plan to staff?
There is a brief version on the online system. We discuss the business plan annually.
What is in a business plan?
An executive summary Marketing and sales strategy Management team and personnel Operations Financial Accounts
In terms of business planning how does the management of D+S ensure they are making a profit
Ensure that the company is marketed towards the most recent possible jobs,
Ensure that they employ the best people and gear them towards the jobs suited towards them.
Ensure the financial accounts are in order and we have good turnover.
How do staff appraisals influence a business plan?
Staff appraisals ensure that every member of staff is in the best place for them and it means we know their progress / if they need exposure to other aspects of the business.
What are the three levels of business management?
- Corporate Level
- Management Level
- Operational Level
What is a business plan?
A document that defines the business objectives and suggests steps to be taken to realise the business strategy over the next 3 years.
Components of a Business Plan:
• Division of the business into service type or client segment
• Financial performance targets
• Plan business opportunities and allocate staff resource
• Budgeting and cash forecasting money in vs. money out to understand what you can afford to pay because you estimate what you will earn
• Plan business opportunities, identify the resource required.
A business plan could help to:
• Seek funding,
• To gain new instructions, new clients, new customers
• To help focus on key priorities
• To allow the organisation to respond to change
• For budgeting, and
• To set targets for staff.
What are the business objectives of your company?
• To develop, consolidate and grow the business sustainably in the residential:
- By exploring any opportunities.
- Being a private developer being able to take opportunities quickly.
• Retain existing and gain new clients
• Retain and train staff
• Grow team to support senior members of staff
How do you contribute to business planning within your company?
- By understanding the business and driving this forward. For example, taking the initiative to make things happen.
- Handover information for clients
- Pre start works
- Commercially initiating talks
- Speaking to clients / partners to create relationships.
What tools are commonly used to understand your current position in the market place?
- SWOT
- Pestle
- KPI’s
- Competitors
- Opportunities
- Management
Does the RICS have a business plan?
Yes the current plan covers the three years from 2017-2019:
Our primary focus over the next three years
Why would you create a business plan?
- To help achieve funding.
- Set business objectives.
- Create a business direction.
What would you expect to be included within this business plan?
- Method Statement.
- Goals and Objectives.
- SWOT analysis.
- Key Performance Indicators
What is a Mission Statement?
A formal summary of the company aims and values.
