Business Planning - Level 1 (Ready) Flashcards
1
Q
What are some of the key things to include in a business plan?
A
- Key risks and opportunities
- Resources required
- Market / competitor analysis
- Proposed products / services
- Marketing and sales strategty
- Financial plan
2
Q
What sort of financial planning can a business use?
A
- Budgets
- Cash flows
- Financial / Audit controls
3
Q
What are the different types of company?
A
- Sole Practitioner
- Partnership
- LLP
- Limited Company
- Public Limited Company
4
Q
What is your firms vision?
A
“To make positive places for people to live and work”
5
Q
What is your firms business strategy
A
To become a market leader in the build to rent environment, and establish a pipeline of residential developments
6
Q
What risks does your firm face?
A
- Competition
- Decrease in demand
- Rising build costs
- Political uncertainty
- Legislative changes
7
Q
What opportunities does your firm face?
A
- Build to rent is a nascent / emerging market
- Yield compression as the market becomes more established
- New technologies making buildings more efficient
8
Q
What is Corporate Social Responsibility
A
Businesses considering their role in relation to:
- Community
- Environment
- Customers
- Staff
9
Q
Can you talk to me about how you consider your company’s wider business objectives when carrying out day-to-day work?
A
- Maintain good reputation to ensure the McLaren name remains strong
- Regular innovations, I went and stayed at The Collective in Willesden Junction to gain an understanding of how McLaren could enter the Co-Living market
