Business Planning Flashcards

1
Q

What is your firms business plan?

A
  • Retain repeat business
  • Grow as necessary
  • Remain independent
  • Retain reputation as leader in the industry for professionalism

We don’t assess things in terms of 3-5 year plans, work quarterly

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2
Q

What are assets?

A

An item of property owned by a person regarded as having value

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3
Q

What are liabilities?`

A

an obligation to, or something that you owe somebody else

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4
Q

What is a creditor?

A

a person or company to whom money is owing e.g. a bank

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5
Q

What is a debtor?

A

a person, country, or organization that owes money.

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6
Q

What are corporate objectives?

A

Statements of intent that provide the basic direction for the activities of an organization in pursuit of its mission.

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7
Q

What are key areas for corporate objectives?

A
  • Innovation
  • Market standing
  • Productivity
  • Physical and financial resources
  • Profitability
  • Public responsibility
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8
Q

What is a (strategic) business plan?

A

A strategic plan outlines your mission, vision, and high-level goals for the next three to five years. It also takes into account how you’ll measure those goals, and the major projects you’ll take on to meet them.

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9
Q

What is an operational plan?

A

An operational plan (also known as a work plan) is an outline of what your department will focus on for the near future—usually the upcoming year.

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10
Q

What is the RICS’ impression of the key world challenges?

A
  • Mass urbanisation.
  • Increasing instability
  • Scarce resources
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11
Q

How are fees for a project calculated?

A
  • Resource – programme, nr of people and their rate, expenses etc.
  • Percentage – of the Contract Sum.
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12
Q

What would you include in a submission document for a project?

A
•	Fee proposal / breakdown of resource
•	Scope of services
•	Personnel / CV’s / experience
•	Relevant insurances (PI, Employer’s Liability)
•	Terms and conditions
               o	Complaints handling
               o	Client’s money
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13
Q

How can a company analyse its position in the market?

A
  • Analyse its market share

- Review it’s profitability compared to competitors

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14
Q

Can you name one opportunity to your business

A

Previously it was to expand in the USA where the market was starting to open up

Companies going bust in COVID19, we can increase our market share

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