Business Planning - Level 1 Flashcards
Tell me about your involvement with business planning.
Managing surveyor it is important that the surveyors within the cluster are meeting their productivity targets so that the SLAs are met and we reach preset targets
What are the corporate objectives of your firm?
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How do you work towards these in your role?
Targeted on productivity, appt to esign, service, income and £ per point
What are some of the typical things you’d find in a business plan?
Executive summary. Company description. products and services. market analysis. strategy and implementation. Organisation and management team. Financial plan and projections
How can an up to date business plan help an organisation in the current
economic climate?
By being alert and aware to possible changes and amendments to forecast and plans you can compensate for them in order to avoid potential cashflow problems.
How do you use networking to further your business planning skills?
Share knowledge, Opportunities. raise your profile. increase your confidence. make new connections
Why is relationship building important for your role?
Leadership. To work with others and influence others to achieve a common goal and shared vision.
Genuine appreciation. Challenging unhelpful behaviour. Trusting relationship - motivators and demotivators
What is a SWOT / PEST analysis?
Strength, weakness, opportunity and threat: method for analysing things that can be controlled and changed so you can devise a strategy for future.
Political, economic, social and technological: management method where you can assess major external factors that influence operation in order to become more competitive in the market.
Can you tell me about when you have used one in your role?
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What insurance types have you dealt with and what risks have they
protected against?
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Explain the objectives of the RICS Covid-19 Recovery Business Plan.
Seeks to continue the existing strategic direction for RICS and the profession, and delivers on our strategic objectives. However, it plots how to achieve this in the context of a significantly changed environment.
A new normal
20/21 rest and recovery year
More resilient RICS fit for the future and capable of responding rapidly to ongoing and significant socio-economic changes and trends that impact our professions
Why are the RICS consulting on their business plan?
Responding to immediate financial implications of the pandemic and reshaping itself over the last year to cope with the new shift in operating.
Review of governance, purpose and strategy based on the outcome of decisions taken by Governing council following the review.
Commitment to changes highlighted within the Levitt review
What is this strategic review called?
Building towards a new future Business plan 2021–22
What is business continuity and why is it important?
Process a business undergoes to create a prevention and recovery system from potential threats such as cyber attacks or natural disasters or other unplanned disruptions. To protect personnel and assets and make sure they can function quickly.
Costs if something goes wrong and protect data, safeguard the brand and retain customers.
Minimize downtime and achieve sustainable improvements. i.e. IT disaster recovery
Explain how the apprenticeship levy works.
Form of business taxation designed to help companies offer more apprenticeships. Amount paid at rate of 0.5% of an employers annual pay bill.
