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APC ASSESSMENT > Business Planning (Level 1) > Flashcards

Business Planning (Level 1) Flashcards

1
Q

What is the 3-horizon model?

A

Horizon 1 – 1-3 years (maintain strength of core business)

Horizon 2 – 2-5 years (explore new expansions)

Horizon 3 – 5-12 years (create new possibilities)

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2
Q

What is a business plan?

A

Document that defines the business objective and suggest strategies.

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3
Q

What can a business plan help achieve?

A

Funding
Gain new clients
Focus on priorities
Set budgets
Targets for staff

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4
Q

Public v private sector business plan?

A

Public: Maximise social benefit

Private: Profit for shareholders

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5
Q

Public sector business plan?

A

Value for money
Affordability
Deliverability
Commercial viability

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6
Q

What are the essential parts to a business plan?

A

Executive summary
Company description
Method statement
SWOT
KPI
Services
Market analysis

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7
Q

What are the methods for financial benchmarking?

A

Benchmarking performance against peer group

Profitability – management performance

Liquidity ratios – ability to pay current obligations

Leverage ratios – extent company rely on debt

Efficiency ratios – companies use of credit, assets, inventory

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8
Q

What forecasting techniques are there?

A

Delphi Technique – expert questionnaire

Subjective forecasting – subjective opinion

Time series – quantitative data over time

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9
Q

What is a KPI?

A

Measurable value that demonstrates how effectively company is achieving business goals. Track performance.

SMART

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10
Q

What is market analysis?

A

Qualitative and quantitative assessment of market.

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11
Q

Short term planning?

A

Present company characteristics

Develops strategies for improving them

E.g. skills of employees and attitudes

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12
Q

What is Long Term planning?

A

Want to solve problems permanently in long-term

Aligning company to long term goals and targets that take time

E.g. Net Zero 2050

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13
Q

What is a PLC?

A

Public Limited Company – public company, ownership open to public. Anyone can buy shares.

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14
Q

What is Royal Charter?

A

Granted power by the monarch

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15
Q

What is a Private Limited Company (Ltd)

A

Cannot be owned by public. Owned by small number of shareholders

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16
Q

What is a LLP?

A

Limited Liability Partnership

Partnership where partners have limited liabilities

Each partner is separately liable

17
Q

What are the levels of business management?

A

Corporate

Management

Operational

18
Q

How do you respond to business planning within your company?

A

QBR requirements, reporting data in

19
Q

How do you record your time?

A

Recording internal time sheets weekly

20
Q

What is the RICS business plan?

A

Build, maintain, promote chartered surveyors

21
Q

What should you do when starting a business?

A

Create a business plan 3-5 years

22
Q

What is a mission statement?

A

A formal summary of the company aims and values

23
Q

Why is it important to forecast fees?

A

Plan future business activities and ensure you hit your desired minimum profit margin

24
Q

What are the different forms of business vehicle?

A

Sole practitioner, partnership, LLP, limited company and PLC

25
Q

What is your firms vision?

A

Sector agnostic, operate across a range of sectors and markets

26
Q

What is Corporate Social Responsibility?

A

Businesses considering their role in relation to the community, the environment, customers and staff

27
Q

Why does your company have a Slavery and Human Trafficking Statement?

A

Have a responsibility as a global corporate citizen
* Comply with the Modern Slavery Act 2015

28
Q

How does your firm comply with the Modern Slavery Act 2015?

A

Group procurement policy defining minimum standards when procuring goods or services
Whistleblowing policy
Training and awareness
Corporate responsibility policy

APC ASSESSMENT (21 decks)

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