Business Planning - Summary of Experience Flashcards
What is a business plan?
A formal written document that sets out the development and strategy for a business to attain their goals
What are your firms aims and objectives?
1) Achieve sustained revenue and profit growth
2) Meet client needs - Expand customer base
3) Maintain a positive working environment and culture between employees
4) Deliver a high standard of service
How do you contribute to achieving your firms aims and objectives?
- Strive towards excellence in my work
- Teamworking and knowledge sharing
- Employing new techniques and technologies to improve my work quality
What are your firms KPIs?
Mainly relating to Rent/SC arrears:
- 90% collection day 7
- 95% collection day 14
- 98% collection day 28
What is a SWOT analysis?
A strategic business tool to understand the strengths, weaknesses, opportunities, and threats of a business
What is situated within a business plan?
1) Description of business activity
2) Vision for the business
3) Objectives and goals
4) Business strategy
Why is it important to keep an up to date business plan?
- Keep up with trends within the market to help growth - Remain relevant within the market and competitive
What is IBOS?
Intelligent Business Operating System - Building management system using AI technology to assess patterns of utilisation and minimise energy usage
How does IBOS ensure your firm can develop towards the future?
- Meets their ESG targets
- Growth through technological development and strategy
- Diversified income stream
What is PEST analysis?
Political, Economical, Social, Technological - Assessing external factors that influence business operation looking to become more competitive within the market
What is an LLP
limited liability partnership - Each partner has personal liability for debt/claims
What is a PLC
Public limited company - owned by shareholders
What is an LTD
Private Limited - no publicly traded shares
