Business Planning

Question 1

Tell me about your involvement with business planning. What are the corporate objectives of your firm?

Answer 1

I am involved in business planning when I:

• Report back ERVs which are used for valuations.
• Strategic WIP reviews on existing rent reviews

PHP endeavors to provide:

• High quality buildings for its tenants
• high quality assets for its shareholders
• strong progressive returns for shareholders.

Question 2

How do you work towards these in your role?

Answer 2

• Correct market value is achieved

- Adequate return for company and shareholders.

Question 3

What are some of the typical things you’d find in a business plan?

Answer 3

Objectives, target customers, competition, product or service, information about directors.

Question 4

How can an up to date business plan help an organisation in the current economic climate?

Answer 4

Companies that update their business plan regularly:

• Good position to navigate the market disruptions
• PHP preparation for pharmacy rents.

Question 5

How do you use networking to further your business planning skills? Why is relationship building important for your role?

Answer 5

I increase my network to

• Boost my available contact base.
• Specialists in other fields to understand the entire market.
• Secure comparables.
• Get CPD opportunities
• Tenant relationship - unlock reviews

Question 6

What is a SWOT / PEST analysis?

Answer 6

Strengths, Weaknesses, Opportunities, and Threats

Political, Economic, Socio-Cultural, and Technological factors

Question 7

Can you tell me about when you have used one in your role?

Answer 7

Analyzing a potential project to ensure proper preparation.

It usually takes the form of an options appraisal.

Question 8

What insurance types have you dealt with and what risks have they protected against? Explain the objectives of the RICS Covid-19 Recovery Business Plan.

Answer 8

Engineering insurance, they protect against the insured risks and lift malfunctions.

The COVID-19 Recovery Business Plan 2020-21

• Continue the existing strategic direction for RICS and the profession.
• Context of a significantly changed environment

Question 9

Why are the RICS consulting on their business plan? What is this strategic review called?

Answer 9

To get all the views from stakeholders and members to ensure the business plan reflects their views.

Future model for RICS

Question 10

What is business continuity and why is it important?

Answer 10

How a business plans to deal with difficult situation and continue to function.

So in cases of emergency, the business can keep delivering to their clients.