Business Planning

Question 1

What was outlined in your companies’ business plan meeting?

Answer 1

• Key clients (OUES, JLP, UKAEA)
• Avenues of work to target - project work and professional services
• Recruitment strategy - apprentice and senior survey needed.
• Review of last years revenue against target.
• Target next year revenue (secured workload).

Question 2

What is included in your company’s quarterly newsletter?

Answer 2

• Project wins and new appointments
  -Charitable events
  -Business goals/strategy:
  • Sustainability: Ridge appointed as UK Green Building Council (UKGBC) to improve sustainability in the built environment.
• Individual successes (qualifications)
• Business Awards

Question 3

Why are timesheets important?

Answer 3

Tracking the time spent on projects allows accurate forecasts and invoicing, and it also enables managers to identify projects which are doing well and those are making a loss.

Question 4

What is the importance of resource planning and fee predictions?

Answer 4

1) Resource planning helps team managers make the most of their available resources and achieve optimal performance from an output perspective.

2) Fee predictions help a business understand it’s cash flow which is essential in any business to ensure it can pay its employees, bills, and suppliers.

Question 5

How does Ridge meet CSR?

Answer 5

Charity events such as litter picking, cycling sportive(?) hosted at the office, donations on dress down Fridays, spreading awareness through calendar events (women in construction day, Eid Mubarak, lunar new year, celebrating cultures).

Question 6

What is corporate social responsibility? Why is it important?

Answer 6

Business practices and initiatives that benefit society from a social, economic, and environmental perspective. CSR important to a business because of its positive impact on the community, environment, and employee satisfaction and public image. This helps uphold public view of the progression (rule 5 - rules of conduct).

Question 7

What are typical headings you would find in a business plan?

Answer 7

• SWOT analysis. Strengths, weaknesses, opportunities and threats.
• Target workstreams.