Business Planning

Question 1

What are the different types of business vehicles?

Answer 1

• Sole Practitioner
• Partnership
• LLP
• Limited Company
• PLC

Question 2

What are KPIs?

Answer 2

Key Performance Indicators

Question 3

What is Benchmarking?

Answer 3

A level of performance to compare outselves

Question 4

What is the aim of a KPI?

Answer 4

Provides consistent measure of organisational and project performance.
Can be used against benchmarking figures to identify shortcomings

Question 5

What are your firms KPIs?

Answer 5

Level of positive feedback received, ensuring all payments are made on time, setting financial targets.

Question 6

What is an LLP?

Answer 6

Limited Liability Partnership - some or all partners have limited liability/partnership.

Question 7

What is a Limited Company?

Answer 7

A business structure whereby the company is considered a legally distinct body ie the business is legally distinct from the people who run it.

Question 8

What is a PLC?

Answer 8

A Public Limited Company - a company that offers shares to the general public

Question 9

What would be included in a business plan?

Answer 9

Analysis of opportunities and risks of business, resources required to provide the service
Intro, market analysis, market strategy, financial projections and product/service description

Question 10

How do you feel your role contributes to the achievement of your firms objectives?

Answer 10

By ensuring good levels of Client Care, I make sure to retain all clients and win instructions of new business.