Mandatories Flashcards
What is a business plan?
A business plan defines a company’s own objectives and how it will go about achieving its goals.
What is included within a business plan?
A company’s short, medium and long term objectives and the steps needed to achieve these.
How would you prepare a business plan?
Look at short, medium and long term goals and how these can be achieved.
- Short term= coronavirus and safety in the workplace,
- Medium term = is identifying disruptors, ie. Sustainability
- Long term is adapting service lines to deal with disruptors (i.e Savills Earth)
What tools can be useful in business planning
SWOT analysis
You have said you’ve sat in a meeting to assess billings - why is accurate financial forecasting important in business planning?
To ensure the correct allocation of resources and expenditure.
What is Savills Business plan?
When does conflict occur?
When two parties have differing interpretations of a contract.
How can you avoid conflict?
- Clear understanding of a clients needs and requirements
- Ensure Competence
- Clarity in terms of engagement
What are the three main processes available for dispute resolution
- Negotiation - Parties discuss and resolve the dispute themselves
- Mediation - A third party intervention who assists the parties in coming to a resolution
- Adjudicative process - An outcome is determined by a third party such as an arbitrator or litigator
Why is alternative dispute resolution better than going to court?
- Quicker
- Cheaper
- Confidential
- More informal
What is mediation
When a third party assists parties in the decision making process. They cannot hold the parties to a decision.
what is independent expert determination?
An independent expert is appointed by the two parties and has expert knowledge of the subject matter of the dispute
Both parties are bound by the decision. The independent expert can use their own opinion or evidence to decide upon the reward
what is acting as an expert witness?
When a surveyor provides evidence to judicial body as an expert witness. Their duty of care is to the court and not the client, even though the client pays the fee. The expert must be sufficiently competent and provide a statement of truth that they will act impartially.
Is there any guidance for RICS members on alternative dispute resolution methods?
Mediation - RICS Guidance Note on Mediation, 2014
Arbitration - Arbitration Act 1996
Independent Expert - RICS Guidance Note on Independent Expert Determination, 2016
Acting as an Expert Witness - RICS Professional Statement ‘Surveyors Acting as Expert Witnesses’, 2014
Generally - RICS Guidance Note Conflict of Interest for Members Acting as Dispute Resolvers, 2017
How can you ensure the reliability of data?
Through triangulation
What is copyright?
Exclusive rights to the owner of original work which is considered to be intellectual property
What is the Data Protection Act?
It is the UK’s implementation of GDPR
What is the purpose of the GDPR/ DPA 2018?
To create a single data protection regime for anyone doing business in the EU and to empower individuals to control how their data is used by third parties.
What does GDPR/ DPA 2018 introduce?
The concept of ‘data accountability’ ensuring companies can prove to the information commissioners office (ICO) how they comply with the new regulations.
What happens if there is a personal data breach?
It must be reported to the ICO within 72 hours.
What are the fines for breaching the DPA/ GDPR
Up to 4% of global annual turnover or 20 million euros, whichever is greater.
What are the principles of the GDPR
- Data must be proceeded lawfully, fairly and transparently
- Data must be collected for specific purposes
- Data must be limited to what is necessary for the purpose it is collected
- Processed in a manner that ensures security
What are the principles of the GDPR
- Data must be proceeded lawfully, fairly and transparently
- Data must be collected for specific purposes
- Data must be limited to what is necessary for the purpose it is collected
- Processed in a manner that ensures security
What are an individuals rights under GDPR
- Right to erasure
- Right to correction
- Right to portability
- Right to access
- Right to restrict processing
- Right to object
- Right to be informed
- Right to automated decision making and profiling
What is the Freedom of Information Act 2000
gives individuals rights to access data held by public bodies (i.e. Local Authority Planning Data) The public body must produce the data within 20 working days although they can charge for the information
What is a Non-Disclosure Agreement
It is a legally binding document which establishes a confidential relationship. It is signed to ensure that parties who view sensitive information may not disclose any of that information to third parties. Information can be shared in confidence.
What happens if you breach an NDA
Can be sued
Is there any RICS Guidance on data handling
RICS has proposed a Professional Statement Data Handling and Prevention of Cyber Crime and will provide RICS members and regulated firms with best practice and mandatory guidance on capturing, storing and sharing data.
Why is diversity important in the workplace?
Because everyone brings something different to the table, you avoid echo chambers and create a more accepting culture. This has a strong positive effect on individuals and connects everyone in your company
Why is it important to be inclusive?
Working in an environment that promotes diversity and inclusivity will make employees feel happier to be at work which will reflect on the work produced.
What does good teamwork look like?
- Communication
- Collaboration
- Support
- Clear Common Goals
- Delegation
what are the 9 protected characteristics under the Equality Act, 2010?
- Disability
- Religion
- Age
- Gender Reassignment
- Race
- Pregnancy
- Marriage
- Sexual Orientation
- Sex
What is the RICS doing to encourage diversity and inclusion?
- The new rules of conduct - making encouraging diversity and inclusion at the heart of how members behave
- Leadership - the RICS are a global force with visibility all over the world and have the ability to shine a light on the role models who are paving the way for a more inclusive industry that can inspire and encourage the widest possible talent into the profession, e.g. IWD, LGBTQ+ flag at HQ etc.
- Training - RICS has numerous CPD sessions to enable members to educate themselves on the importance of diversity and inclusion.
What is your company doing to encourage diversity and inclusion?
Savills run numerous initiatives, including apprenticeships, mentoring and schools outreach programmes.
We have recently hired a new head of D&I
Savills had targeted hiring 100 apprentices by 2023 - which we have already exceeded.
What is unconscious bias?
A prejudice or subconscious judgement either in favour or against someone which may implicitly affect our attitude and behaviour towards them.
How do we manage unconscious bias?
- Understand what your own biases are
- Make considered decisions
- Manage your own behaviour
- Speak out if you notice bias
- Expand your social circle
- Apologise if you get it wrong
What is an inclusive environment?
One which is designed and managed to allow people with a diverse range of needs and abilities to use and access it
What is the purpose of the equality act?
To consolidate discrimination law in the UK and provides protection against a wide range of discrimination and inequality, including the use of property as well as dealing with people,
What are the four types of illegal discrimination
- Direct Discrimination
- Indirect Discrimination
- Harassment
- Victimisation
Why are inclusive environments important?
Surveyors have a moral, ethical and professional duty for to ensure we make spaces that everyone can use.
What other legislation requires owners to create an inclusive environment?
The Regulatory Reform (Fire Safety) Order 2005 also places a duty on businesses and employers to carry out a fire risk assessment, including requirements for the safe evacuation of disabled users.
Other than physically inclusive environments, can you give any other examples of inclusive environments?
Bankside, Vauxhall - UK’s first LGBTQ+ friendly retirement living scheme
At Savills, we have recently had someone join our planning team who is deaf. Savills are organising sign language sessions for anyone who wants to join to be able to be more inclusive.
At Savills, particularly since COVID19, we have had a much greater focus on flexible working, allowing parents to start slightly later so they can do the school run first.
What part of the building regulations requires inclusivity?
Part M - Access to and Use of Dwellings
At least 10% of all new dwellings should be M4(3) compliant (London Plan, 2021)
What if your building is not wheelchair friendly?
You must make all reasonable endeavours to avoid disability discrimination.
