Business Planning L1

Question 1

What are the benefits of business planning?

Answer 1

1. Help focus on priorities
2. Creates a strategy
3. Helps manage change efficently and effectivily

Question 2

What does a business plan include?

Answer 2

1. Mission statement
2. Goals and objectives
3. Analysis of opportunity and risk
4. SWOT analsys (strength, weakness, opportunity, threat)
5. Recourse Required
6. KPI’s

Question 3

What is the VOA stategic objectives?

Answer 3

1. To produce reliable valuations
2. To produce a clear and consistent experince for stakeholders
3. Design and deliver a professional organisation

Question 4

What are your companies KPIs?

Answer 4

• Volume of cases
• Timeliness
• Utilisation Rate
• Quality assurace

Question 5

what are KIP’s?

Answer 5

KPI’s are quantifiable measures of performance against a set of tagets and objectives

Question 6

Steps to set up your own firm?

Answer 6

1. First inform RICS of your company
2. Choose a responsible principle for all RICS communication
3. Take out RICS approved PII insruance
4. Set up your client money accounts and procedures
5. Register valuers via RICS
6. Have your complaints handling procedure arroved
7. Creat a complains log
8. Choose a complaints handling officer
9. Request the logo pack
10. Set up a succession firm agreement
11. Then set up a CPD log
12. Impliment staff training
13. Ensure annual return is kept updated