Business Planning Flashcards
What is a business plan? And what are the key elements?
A business plan is a document that defines the strategic direction of a firm typically over a three to five year period. Typical elements include:
- Vision statement
- Internal and External analysis
- Strategic Goals
- Strategy for achieving goals
- Annual objectives
- Measurements of success
- Key risks
- Financial Planning
What is the Arcadis business plan and what is your role within it?
- Review of internal and external environment - SWOT
- Review of past strategy of ‘creating a sustainable future’
- New Strategy for 2020-2023- maximising impact:
- Digital leadership
- Sustainable solutions
- Focus and scale
Are business plans mandatory?
They are not a statutory requirement, but an essential element of effective planning and defining/monitoring a firms’ strategic direction.
What are some tools for analysing the internal and external environment?
SWOT (Strengths, Weaknesses, Opportunities, Strengths)
PESTEL (Political, Economic, Social, Technological, Environmental, Legal)
What is the RICS business plan?
The RICS business plan focusses on 5 key pillars, which are divided into 18 responses to the Alison Levitt independent review in 2021. This includes a review of both the internal and external environment, with measurements of success for each of the 18 objectives.
What are SMART objectives?
- Specific
- Measurable
- Achievable
- Realistic
- Time bound
What is an investment appraisal?
A process used to assess whether a business venture is viable in terms of return on investment.
Give examples of fee earning staff and non-fee earning staff.
Fee earning - PM, CM, architect etc. Non-fee earning HR, IT technicians, Admin etc.
What is the role of an organogram?
To define the structure of an organisation or project. To see what roles individuals are undertaking, and the subsequent hierarchies between them.
How do you contribute to your company’s goals?
- Brining in revenue from my projects
- Knowledge sharing
- Health and safety moments
- Mentoring new graduate and junior staff
What does Porter’s five forces model show?
- Buying power
- Supplier’s power
- Threat of new entrants
- Threat of substitutes
- Competitive rivalry
What is meant by business strategy?
an outline of the actions required for a business to deliver on its goals and objectives.
What is the difference between a vision statement and a mission statement?
A vision statement focusses on the future, whereas a mission statement focusses on the present.
What is a business model?
A business model is the plan implemented by a firm to achieve a profit.
How can a business plan help a company to navigate the current climate?
- Understand the external environment
- Possibly diversify into new markets
- Pursue new client s
- Help secure additional funding if required.
