Business Planning Flashcards
What is a business plan?
Formal written document containing the goals of the business and the methods for attaining those goals
What are workmans business aims and objectives?
- achieve sustainable and profitable growth
- Expand customer base and meet Clients needs
- Make positive impact on the communities
- Always deliver a high quality of service
- Maintain a culture where people thrive and reach their full potential
What is a SWOT analysis?
Strategic business planning tool used to assess the Strengths, Weaknesses, Oppertunities, and Threats of business
What is a PEST analysis?
Analysis of Political, Economic, Social and Technological factors that could affect a business now and in the future
What do you find in a business plan?
- Description of business
- The vision
- Objectives and goals
- Strategies and actions
How do companies write a business plan
- Analyse markets and competitive environment to identify business oppertunities and critical success factors
- Then develop goals and objectives with the associated strategies and actions
What is a Client Account planning session?
- Review of current workload, resources, fees, etc
- Identification of key Client personnel who have influence over job oppertunities
- Review of pipeline oppertunities with that Client
How do you contribute toward your companies goals?
- Focus on safety
- Excellence in my work
- Sharing knowledge
- Keeping up with new technologies
How do you think an up to date business plan can help and organisation in the current economic climate
- To seek funding
- To gain new instructions, new Clients, new customers
- To help focus on key priorities
- To help with budgetting
- Help setting targets for staff
What are KPIs?
Key Performance Indicator
What are your firms KPIs?
For arrears/rent:
- 90% collection at day 7 of quarter
- 95% collection at day 14 of quarter
- 98% collection at day 28 of quarter
