Business Planning & Level 1 Flashcards
What are your companies business objectives?
- CBRE is a PLC, so first objctive is be profit making for it’s shareholders.
- Medium term – CBRE have the ‘One Team’ approach, which encourages Diversity and Inclusion
- Wider objectives such as to be operating as net zero by 2040, increasing diversity, increasing collaboration.
What are CBREs future goals?
- Increase efficiency (Hyderabad)
- CBRE have the ‘One Team’ approach, which encourages Diversity and Inclusion
How do team meetings help to ensure you are in line with the corporate objectives and fee targets?
- ensure work is done to** hit fee targets**
- seeking new business to increase billings
- Providing good quality service in line with RISE values
How does your firm market it’s business over the short, medium and long-term?
Short = pitching directly on sales
Medium = Promotion of the business e.g. through social media
Long = Meeting and nurturing client relationships
What are the key elements of a business plan?
- Executive summary
- Market analysis
- Financial projections
- Operational plan e.g. SWOT
Why are key elements of a business plan important?
Targets to meet and assess performance against – can then assess where to allocate resources efficiently
What are the key elements of the RICS Business Planning and Accounting Principles and Procedures?
- Budgeting is important for resource allocation and must be realistic and achievable
- Forecasting is important for businesses to plan for future events
- Financial analysis can help to identify where the business can improve
How would a business plan to ensure objectives are met / what are the key inclusions?
- A SWOT analysis – target key areas of growth, and address potential weaknesses
- The use of fee forecasts is crucial to plan future business activities and ensure attainment of a desired minimum profit margin
- Budgets, cash flows and financial/audit controls are important to ensure the correct allocation of resources and expenditure
How would you ensure the correct allocation of resources in a company? (similar to above)
- A SWOT analysis
- Work on the budget, estimate income and costs
- Fee forecasts
How would a business plan alter for individual, departmental and company? As well as for different forms of business vehicle?
Individual = specific to the person, e.g. fees, referrals etc.
Departmental = needs to reflect the department and consider wider costs and pressures e.g. across sectors - e.g. targeting profit over a quarter
Company wide = again, encapsulate wider factors that are impacting all service lines, wider issues – could target profit say over the year sole practitioner, partnership, LLP, limited company and PLC – similar scale as above
Why is fee forecasting important?
- Assess reasonable profit
- If not, what then what resources are required to address this
Assume you are about to set up a firm – how would you prepare a business plan?
- A SWOT analysis – target key areas of growth, and address potential weaknesses
- The use of fee forecasts
- Budgets, cash flows and financial/audit controls
In what ways can a business evaluate its progress?
CBRE Key themes
Growth:
* Strategic conversations with clients, add value, client solutions about client not us.
Collaboration
* come together as wider business. One team culture.
D, E and I
– networks growth.
Financials:
CBRE UK’s 2024 real estate turnover was strong, with commercial property delivering a total return of 7.7%
What is CBRE Objective?
- Realise potential for clients by building real estate solutions of the future.
