APC Mandatory - Business Planning

Question 1

Tell me about your involvement with business planning.

Answer 1

I regularly participate in team meetings of which I contribute and listen to ideas of future development of the practice.

Question 2

What are the corporate objectives of your firm? How do you work towards these in your role?

Answer 2

Corporate objective are to increase turn over, diversity and grow geographically. I work towards these by undertaking additional training and CPD to further my learning.

Question 3

What are some of the typical things you’d find in a business plan?

Answer 3

Executive summary. Company Description Product and Services Market Analysis. Strategy and implementation. Organization and Management Team. Financial plan and projections

Question 4

How can an up to date business plan help an organisation in the current economic climate?

Answer 4

Funding. Gain new clients and customers. Help focus on priorities. Help to focus on organisational change. To set targets for staff. Set budgets

Question 5

How do you use networking to further your business planning skills?

Answer 5

Networking enables you strengthen business connections, gain new ideas and information and develop long term relationships

Question 6

Why is relationship building important for your role?

Answer 6

To improve my career development.

Question 7

What is a SWOT / PEST analysis?

Answer 7

SWOT analysis is a strategic planning and strategic management technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation.

Question 8

Can you tell me about when you have used one in your role?

Answer 8

I have used a swot analysis in my own development to target areas of weakness which I can improve through CPD

Question 9

What insurance types have you dealt with and what risks have they protected against?

Answer 9

PII Ð negligence, public liability Ð injury to third party, Interruption insurance - Covid

Question 10

Explain the objectives of the RICS Covid-19 Recovery Business Plan.

Answer 10

The COVID-19 Recovery Business Plan 2020-21 seeks to continue the existing strategic direction for RICS and the profession, and delivers on our strategic objectives. However, it plots how to achieve this in the context of a significantly changed environment.

Question 11

Why are the RICS consulting on their business plan?

Answer 11

RICS focus is firmly on the next 12 months and establishing a new normal baseline to our forward business planning. 2020-21 is a reset and recovery business plan year, but our aim is to end the year having pioneered a new, more resilient RICS, fit for the future and capable of responding rapidly to ongoing and significant socio-economic changes and trends that impact our profession.

Question 12

What is this RICS strategic review called?

Answer 12

Defining our future

Question 13

What is business continuity and why is it important?

Answer 13

A business continuity plan positions your organization to survive serious disruption.

Question 14

Explain how the apprenticeship levy works.

Answer 14

The apprenticeship levy is a form of taxation designed to help companies offer more apprenticeships.

Question 15

Why might the apprenticeship levy be beneficial to a business?

Answer 15

Improved frameworks, increased productivity and the development of a range of new services

Question 16

When is the apprenticeship levy payable?

Answer 16

All eligible employers will have to pay the 0.5% apprenticeship levy amount at the end of every month.