Business Planning (L1M) Flashcards
What are different types of company?
- PLC - shares offered to public. Limited liability
- LLP - Partners’ liability is limited. Not responsible for others’ negligence
- Limited Company - responsible for debt to extent of capital invested
- Sole Practitioner - one exclusive earner
What is a PLC?
A type of company where shares offered to public. Limited liability
What is an LLP?
A type of company where partners’ liability is limited. Not responsible for others’ negligence
What is a Limited Company?
A type of company that is responsible for debt to extent of capital invested
What is a sole practitioner?
A type of company where there is one exclusive earner.
How do you calculate a fee?
- The time and resource required.
- The value of the asset and therefore the PII cover needed.
What is a business plan?
- A business plan sets out a strategy of what you’re going to do and how you’re going to do it.
- Sets up how a business intends to meets its targets.
- Analyses the SWOT
How can a business monitor its performance?
- Through setting and assessing goals
- Assessing KPIs
- underlying earnings per share
- revenue
- underlying profit - Through looking at competitors
- Geographical expansion
What is Strutt & Parker/BNP’s business plan?
- Short term - Maintain market position and staff retention
- Long term - Become top 3 advisor in every market
What is the cycle of a business plan?
- Identify and set aims and objectives based on a business model
- Full analysis of the position to date
- Formulate strategy and produce a business plan (short, medium & long-term)
- Review progress and where necessary, take alternative supplemental or corrective action.
What should be included within a business plan?
- An analysis of the opportunities
- Risks of the business
- Resources to service clients
- SWOT analysis can be a useful tool
- Fee forecasts is crucial to plan future business activities and ensure attainment of a desired minimum profit margin
- Budgets, cash flows, and financial controls are important to ensure the correct allocation of resources and expenditure,
What is your company’s strategy?
- Vision for the real estate of tomorrow
- Committed to using innovation to anticipate and understand the city of tomorrow so we can pioneer solutions that respond to the evolving needs of clients, from investors and occupiers to individuals and institutions
What is your company’s purpose?
To recognise the importance of real estate and what it means to clients, families and communities
What is your company’s goal?
Single, successful, modern company, with all business lines, regions and functions working together to deliver value for clients by sharing their expertise. capability and passion for real estate.
What are your company’s values?
- Refreshingly different
- Bravely ambitious
- Successful together