Business Planning - Level 1 Flashcards
What would you include in a Business Plan if you were setting up on your own?
- Draft an executive summary
- Write a company description
- Perform a market analysis
- Outline the management and organization
- List your products and services
- Perform customer segmentation
- Define a marketing plan
- Provide a logistics and operations plan
- Make a financial plan
What is your company’s marketing plan?
As a purpose-led business ISG’s plan centres around knowledge, delivered through smart digital tools:
- Brand – ISG employee stories
- Wide Angle – exploring hot topics in the industry
- Digital Platforms – Sharing platforms for best practice advice
- Partnerships – Charity events and fundraisers
- People and engagement - ISG’s internal communications function focuses on informing and engaging our people
- Customer Experience - CX surveys are broken down into the following aspects of the customer journey: Tender process, project delivery, post-completion, maintaining contact.
- PR and influence - PR plays a vital role shaping perception through news of project wins, our work supporting communities and wider society, and our expert insights.
How do you fit in?
By participating in charity and fundraising events as well as networking through relationships that are built with subcontractors and clients on the projects that I work on.
How would a business measure its performance against its business plan?
Key performance indicators, also known as KPIs, help you measure and evaluate the effectiveness of solutions, functions and processes in your business. KPIs take into account your business’ strategic goals and measure performance against a specific target, defined from a strategic, planning or budget point of view.
What external factors beyond the control of the company would consider when constructing its business plan?
The economy, politics, competitors, customers, and even the weather are all uncontrollable factors that can influence an organization’s performance. This is in comparison to internal factors such as staff, company culture, processes, and finances, which all seem within your grasp.
