Business Planning - Specific Questions

Question 1

Tell me about Business plans and their uses

Answer 1

• A Business plan is a written document that describes your core objectives and what you plan to do to ensure you achieve them over a set period of time.

-	A business plan could help to:
o	To gain new instructions
o	To allow the organisation to respond to change
o	For budgeting, 
o	To set targets for staff.

Question 2

Tell me about Organisational structures

Answer 2

• A system that outlines how certain activities are directed in order to achieve the goals of an organization.
• These activities can include rules, roles, and responsibilities.

-	Types:
o	Functional 
o	Divisional 
o	Matrix 
o	Flatarchy

Question 3

Tell me about Benchmarking

Answer 3

• a process of assessing your current performance against a peer group of organisations of comparable scale and complexity.
• Types:
  o Ratios
  o Gross profit margin
  o Break even point

Question 4

Tell me about Market analysis techniques

Answer 4

• SWOT
  o a framework used to evaluate a company’s competitive position and to develop strategic planning.
  o Strengths, Weaknesses, Opportunities, Threats
• KPI
  o Key Performance Indicator
  o PESTLE

Question 5

Tell me about Forecasting techniques

Answer 5

• Primary forecasting techniques help organizations plan for the future.
• Delphi Technique
• Subjective Forecasting Approach

Question 6

Tell me about working capital

Answer 6

• financial metric which represents operating liquidity available to a business

Question 7

Tell me about stock

Answer 7

• a security that represents the ownership of a fraction of a corporation.

Question 8

Tell me about the difference between debtors and creditors.

Answer 8

• A debtor is a company or individual who owes money
• A creditor is an entity (person or institution) that extends credit by giving another entity permission to borrow money intended to be repaid in the future.

Question 9

What is NBSs business plan?

Answer 9

Building a national treasure
Thriving membership
Legendary service
Built to last
Building Pride

Question 10

RICS business plan

Answer 10

o CHANGE - Beneficial change to the response to world challenges
o TRUSTED - Trusted by stakeholders and society
o QUALITY - Maintain professional quality and demand
o FINANCIAL - Generate financial ability to invest in vision