Business Planning (MP) Flashcards
What is a business plan?
a. Logical decision making process based on market analysis
What is a SWOT Analysis?
a. Strengths, Weakness’, Opportunities and Threats
What is a PEST Analysis?
a. Political, Economical, Social and Technological
What things do you need to consider when setting up a business?
a. Inform RICS
b. Create a business plan
c. Create H&S policy *subject to nr of employees
d. Register with HMRC
e. Create CHP
f. Obtain PI
g. Setup other insurances
What is an investment appraisal?
a. Review of whether a project would be worthwhile
How do you contribute to your companys goals?
a. Share knowledge with my team
b. Keep up to date on technologies / practices adopted by the business
c. Focus on safety
Vision statement vs mission statement?
a. Vision = Long term vision for the business and what it sets to become
b. Mission = Short term focus on today and what it does to achieve it
Business strategy vs business plan?
a. Strategy = Long term strategy that concerns the entire organisation
b. Plan = More detailed implementation
What do you find in a business plan?
a. Vision and Mission Statements
b. Products and services
c. Management team and personnel
d. Financial forecasts
e. Training
f. SWTO
What tools does Mace use to manage its business?
a. Timesheets
b. Resource charts
c. Oracle Expenses
d. Payslip system
What is Mace Business Plan?
a. Redefine the boundaries of ambition
i. To deliver distinctive value
ii. To pursue a sustainable world
iii. To Grow together
How does the Mace Business Plan affect you?
a. Ways of working
b. Responsibility
c. Innovation
What are the different types of business?
a. Partnerships
b. LLP
c. Ltd
