Business Planning (L1M)

Question 1

What are different types of company?

Answer 1

• PLC - shares offered to public. Limited liability
• LLP - Partners’ liability is limited. Not responsible for others’ negligence
• Limited Company - responsible for debt to extent of capital invested
• Sole Practitioner - one exclusive earner

Question 2

What is a PLC?

Answer 2

A type of company where shares offered to public. Limited liability

Question 3

What is an LLP?

Answer 3

A type of company where partners’ liability is limited. Not responsible for others’ negligence

Question 4

What is a Limited Company?

Answer 4

A type of company that is responsible for debt to extent of capital invested

Question 5

What is a sole practitioner?

Answer 5

A type of company where there is one exclusive earner.

Question 6

How do you calculate a fee?

Answer 6

• The time and resource required.

- The value of the asset and therefore the PII cover needed.

Question 7

What is a business plan?

Answer 7

• A business plan sets out a strategy of what you’re going to do and how you’re going to do it.
• Sets up how a business intends to meets its targets.
• Analyses the SWOT

Question 8

How can a business monitor its performance?

Answer 8

1. Through setting and assessing goals
2. Assessing KPIs
   - underlying earnings per share
   - revenue
   - underlying profit
3. Through looking at competitors
4. Geographical expansion

Question 9

What is Strutt & Parker/BNP’s business plan?

Answer 9

• Short term - Maintain market position and staff retention

- Long term - Become top 3 advisor in every market

Question 10

What is the cycle of a business plan?

Answer 10

• Identify and set aims and objectives based on a business model
• Full analysis of the position to date
• Formulate strategy and produce a business plan (short, medium & long-term)
• Review progress and where necessary, take alternative supplemental or corrective action.

Question 11

What should be included within a business plan?

Answer 11

• An analysis of the opportunities
• Risks of the business
• Resources to service clients
• SWOT analysis can be a useful tool
• Fee forecasts is crucial to plan future business activities and ensure attainment of a desired minimum profit margin
• Budgets, cash flows, and financial controls are important to ensure the correct allocation of resources and expenditure,

Question 12

What is your company’s strategy?

Answer 12

• Vision for the real estate of tomorrow
• Committed to using innovation to anticipate and understand the city of tomorrow so we can pioneer solutions that respond to the evolving needs of clients, from investors and occupiers to individuals and institutions

Question 13

What is your company’s purpose?

Answer 13

To recognise the importance of real estate and what it means to clients, families and communities

Question 14

What is your company’s goal?

Answer 14

Single, successful, modern company, with all business lines, regions and functions working together to deliver value for clients by sharing their expertise. capability and passion for real estate.

Question 15

What are your company’s values?

Answer 15

• Refreshingly different
• Bravely ambitious
• Successful together

Question 16

What is your company’s strategy?

Answer 16

Build success of 5 pillars:

1. Make the most of who we are and what we have
2. Embrace the digital age
3. Extend our footprint
4. Offer new services
5. Create a great place to work

Question 17

What can a business plan help with?

Answer 17

• Gain new instructions/clients/customers
• Help focus key priorities
• Allow organisation respond to change
• Budgeting
• Set targets for staff

Question 18

What is corporate social responsibility?

Answer 18

Describes a company’s commitment to carry out business in an ethical way
- Social/ethical/environmental/economic

Question 19

How do you contribute to your company’s business development?

Answer 19

a

Question 20

How does your team plan for the future?

Answer 20

a