M - Business Planning Flashcards
What is RLB’s 2030 Strategy
- Maintaining culture / value and reward colleagues
- Sustainable growth
- Profit but not at the expense of quality
- Digital transformation
How do you contribute to your companies business plan
- Deliver high level service
- Working efficiently
- Client retention / gain
- Timekeeping
- Developing younger staff
Why is a business plan important?
- Focuses priorities
- Budgeting
- Setting business and staff KPI’s
What is a business plan?
- Document that summarises the operational and financial objectives of a business.
- Timescale of at least 3 to 5 years
What does a SWOT analysis identify?
Strengths
Weaknesses
Opportunities
Threats
Strategic planning method (business strategy)
Mentioned RLB 2030 strategy, how do you input into RLB achieving their short and long term goals?
- Working efficiently
- Client retention / gain
- Timekeeping
- Developing younger staff
What procedures does your firm utilize to ensure they are profitable
- Timesheets
- Fee/cost reconciliation
- Project reviews,
- Yearly performance reviews
- Business dev strategy
What components would you include in a Business plan
- Exec summary
- Marketing strategy
- Vision & Mission statements
- Services
- Management team & Structure
- SWOT analysis
- Financial target
What is a Business Model
- Strategy implemented to generate revenue & make profits
- May detail services offered, niche or sector operated in, target clients or costs
How can businesses analyse their performance
SWOT & PEST
What is PEST analysis?
Political Economical Social and Tech
Way of understanding how external forces impact a business
What is a Business strategy
Outlines the actions and decisions a company plans to make
Requirements when setting up a business
Inform RICS
Inform HMRC and Companies House
Business Plan
Complaints Handling Procedure
Company and Client Bank Accounts
Insurance - PI and Run Off, Building and Public
