32. Business Planning Flashcards

1
Q

What is a SWOT analysis?

A
  • A SWOT analysis can be used to analyse the internal strengths and weaknesses and external threats and opportunities of a company.
  • This is carried out with a view to exploiting strengths and opportunities and mitigating weaknesses and threats.
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2
Q

What is a PESTLE analysis?

A
  • This is a structured method of analysing the key factors influencing market conditions.
  • These factors are:
    o Political influences.
    o Economical influences.
    o Socio-demographical influences.
    o Technological influences.
    o Legal
    o Environmental influences.
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3
Q

How do companies write a business plan?

A
  • They undertake an analysis of the market and industry to identify business opportunities and critical success factors.
  • For example my company has decided to target £350m of new work in 2024 within established markets. My objective is to identify new opportunities within my current comission to expand our constultancy.
  • My company has also identified the defence sector and water as new areas to target.
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4
Q

What is a Business Plan?

A
  • A formal statement of the business’s goals with reasons why they are thought to be attainable and the plan for reaching the goals.
  • The business plan also provides employers with a common ground to focus upon.
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5
Q

What is your firms business plan?

A

My firm’s business goals is to deliver £1bn worth of social value per year
Achieve £500 revenue

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6
Q

How do you contribute to your company’s goals?

A

Focus on client retention

  • Focus on safety.
  • Maintain excellence in my work.
  • Sharing knowledge within integrated teams.
  • Keeping up with new technologies.
  • Upskilling new and junior team members.
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7
Q

How can a business plan help a company remain profitable?

A

To grow existing client base and projects
Support accurate forecasting and budgeting
Allows resource planning

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8
Q

What components would you identify within a business plan?

A

Executive summary
Marketing strategy
Vision & mission statements
Products & services
Management Team & organisation structure
SWOT analysis
PESTLE Analysis
Key goals, objectives, short term and long term goals

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9
Q

What is social corporate responsibility?

A

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

This helps companies become aware of how they impact asprcts of society, including economic, social and evironmental

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10
Q

Explain how you identify growth opportunities that contribute towards your company’s annual business plan. Provide an example of how your role as a quantity surveyor has directly contributed to meeting these objectives.

A
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11
Q

What are some procedures that your firm adopts to ensure they are profitable?

A

Timesheets to assess utilisation, planning, setting objectives, targeting clients and growing within existing commissions

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12
Q
A
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