Level 1 - Business planning Flashcards
What are the three levels of business management?
- Corporate Level
- Management Level
- Operational Level
What are the business objectives of your company?
- promote a love of reading
- provide access to resources and information
- Offering a welcome space
- Supporting the health and wellbeing of individuals and communities
How do you contribute to business planning within your company?
- This year I have worked with leadership team to set objectives under our strategic pillars.
- Work with service delivery to prioritise refurbishments and other strategic projects
- Preparing annual budgets
- Preparing feasibility reports for building related initiatives
Does the RICS have a business plan?
Yes the current plan covers the three years from 2018-21. Strategic goals include:
• Trusted by our stakeholders and society
• RICS professional qualifications remain in demand
• Influential thought leader
• Involved and engaged members
• Sustainable 21st C professional body.
N1. What should you do when starting a business?
Create a Business Plan, such as a 3 – 5 year business plan.
N2. What is a business plan?
A formal statement of the business goals, how they are obtainable and the plan for reaching these goals.
N3. Why would you create a business plan?
- To help achieve funding.
- Set business objectives.
- Create a business direction.
N4. What would you expect to be included within this business plan?
- Method Statement.
- Goals and Objectives.
- SWOT analysis.
- Key Performance Indicators.
N5. What is a Mission Statement?
A formal summary of the company aims and values.
N6. What is a SWOT analysis?
internal study undertaken by a business to identify its strengths, weaknesses, opportunities and threats.
N7. What goals and objectives would you likely see in FM?
- Space utilisation
- Adherence to stat compliance
- Service Delivery times
- Environmental, such as %age waste to landfill
- Commitment to ethical standards
N8. What is a Key Performance Indicator?
A measureable value to determine the success of project/venture.
N9. How is a business plan laid out?
- Executive summary.
- Financial Forecasts.
- Management team.
- Description of business opportunity.
- Market and Sales Strategy.
N11. Why is Market Analysis important?
Understanding the market you are operating in and look for demand for services.
N13. In terms of Business Planning, how does your management ensure that you make a profit?
- Regular reporting.
- Forward planning.
- Accounting systems to track all costs.
