Business Planning Flashcards
What is your firms business plan?
- Expand through acquisition
- Become one of the foremost property and construction consultancies
- Specialise in public projects, F1 projects
What are corporate objectives?
Statements of intent that provide the basic direction for the activities of an organisation in pursuit of its mission
What are key areas for corporate objectives?
- Innovation
- Market standing
- Productivity
- Physical and financial resources
- Profitability
- Public responsibility
What is a (strategic) business plan?
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
What is an operational plan?
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
What would you include in a fee proposal document?
- Fee proposal / breakdown of resource
- Scope of services
- Personnel / CV’s / experience
- Relevant insurances (PI, Employer’s Liability)
- Terms and conditions / complaints handling / client’s money
How can a company analyse its position in the market?
- Analyse its market share
- Review it’s profitability compared to competitors
What does a business plan typically include?
- Market analysis
- Competitive analysis
- SWOT
- Organisational structure & resource strategy
- Capabilities and Services
- Marketing plan
- Sales strategy
- Funding requirements
- Financial projections
- Setting objectives
Can you tell me about key objectives of your organisations business plan?
- To find new ways of growth
- To grow the workforce in order to meet demand
- To ensure financial targets are ambitious but realistic
Please tell me about cashflow statements with some examples of the factors that may affect cashflow
- Timing of debtors
- Progress on site
- Any variations
What is a Financial Benchmarking Ratio?
These are indicators that give insight over the financial performance of a company.
What is the Liquidity Ratio? What is this also known as?
Indicator of the total liquid assets a company has compared to liabilities. Known as the ‘Acid Test’ or ‘Quick’ ratio.
What is the Profitability Ratio?
Indicator on the ability for a company to generate a profit. Most common is the ‘Gross Profit Margin’. I.e. it looks as how easy the company can make money from it’s operations, considering its expenditure.
What is the Gearing Ratio?
Measure the proportion of borrowed money as part of a company’s assets. More borrowing = high gearing.
I.e. if a company is heavily funded by debt, that debt must be paid so it’s more risky. Dividends don’t have to be if the funding is through equity.
Can you tell me some different types of Business Plan?
- Strategic - Looks at the high level key mission, and the company’s strengths and weaknesses in the market.
- Corporate - The specifics of how the business will achieve the strategy
- Departmental - Sub-set of the corporate business plan.
