M - Business Planning Flashcards
What are the three levels of business management?
- Operational
- Management
- Corporate
What is the Operational level?
Operational end of the business - Creates the output of the company.
e.g. QS that takes measures and produces cost plans
What is the Management level?
Management of the operational workers.
Managers ensure employees carry out their tasks and work efficiently.
What is the Corporate level?
At the strategic apex of the company.
Dictate which way the business should move, takes a holistic view on the business.
What is a business plan?
A formal statement of business goals, reasons they are attainable and plans for reaching them
What are the components of a business plan?
- Business description / service lines
- SWOT analysis
- Market analysis
- Business opportunities
- Resource allocation for opportunities
- Financial performance targets
- Budgets and cash flow forecasts
- Current position
- KPI’s
What can a business plan be used for?
1) To secure funding
2) To secure new business from clients
3) To focus on key priorities
4) To respond to change
5) For budgeting / setting targets
What can you tell us about your companies business plan?
“20/20 Vision”
To be the leading capital programs professional services provider, operating across property, infrastructure and natural resources
What tools does your company use to manage its business?
1) CEP Online (Commission Execution Plan)
2) Client satisfaction database
3) FMS Online (Financial Management System)
4) Marketing database
5) Contracts database
6) Key client reporting
7) Project database
8) Supplier database
How do you manage your time so you do not work beyond your fee allowance?
- Complete timesheets - Reviewed and approved by senior management
- Be aware of extent of fee and associated level of service. Raise concerns if the workload is over and above the extent of the fee.
Does the RICS have a business plan?
Yes
To be
‘A global professional body fit for the 21st century shaping the built and natural environments.
What is a SWOT analysis
An internal analysis of a company’s:
- Strengths
- Weaknesses
- Opportunities
- Threats
It is a strategic planning method used to evaluate project or business ventures.
What are KPI’s?
Key Performance Indicators
Measurable values against which a company’s success can be determines
Why is market analysis important?
Allows you to find opportunities to make money and align your workforce to satisfy this.
How does your management ensure you are making a profit?
- Everyone completes timesheets.
- Resource allocation to each project is reflected in the fee received for the project
- Regular reporting and monitoring