Business Planning

Question 1

What are some of the key things to include in a business plan?

Answer 1

• Analysis of some of the key risks and opportunities facing the business
• Resources required to service clients
• Market/competitor analysis
• Products and services
• Marketing and sales strategy
• Financial plan

Question 2

Why is it important to forecast fees?

Answer 2

Plan future business activities and ensure you hit your desired minimum profit margin.

Question 3

What sort of financial planning would you use?

Answer 3

Budgets, cash flows and financial/audit controls.

Question 4

What is Corporate Social Responsibility?

Answer 4

Businesses considering their role in relation to the community, the environment, customers and staff.

Question 5

How does your firms objectives pass to individual teams?

Answer 5

• Regular presentations from the leadership to the teams.
• Strategy days to ensure individual teams are aligned with the company strategy.
• Email bulletins on the business performance.