Business Planning Flashcards
(12 cards)
What is a Business Plan?
Formal document containing:
- Goals of the Business
- Methods for attaining the goals
- Time frame to achieve the goals
-Typically include a market analysis and SWOT analysis
Why is a Business Plan Important?
Sets clear objectives that can be met and measured against
What are the Different Types of Business Plan?
Strategic - Outlines goals for the next 5 years
Operational - Strategy for the next 1-2 years of development
What is a SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
What are CBRE’s Business Objectives?
Expand to provide a high-quality service across every aspect of the property market.
To promote other internal CBRE services to existing clients.
What are your Team’s Objectives?
To get more work from T&T and Project Management teams.
What are CBRE’s Values
Respect
Integrity
Service
Excellence
Can you name some for Forecasting Techniques?
Straight Line
Moving Average
Simple Linear Regression
Multiple Linear Regression
What are the Different Forms of Business Vehicles?
Sole Practitioner:
- Must register business with HMRC
- Responsible for all liabilities
- Entitled to keep all profits
Partnership: Involves 2 or more parties:
- Share the risks, costs, benefits and responsibilities of running the organisation
- Partners are personably responsible for losses or debts the business undertakes
- Liability is with the
Partners
Limited Liability Partnership (LLP): Involves 2 or more parties:
- Similar to Partnership but the Partner’s liability is limited to the amount of money they invest in the business
- LLP’s must be registered at Companies House and with HMRC
- Annual accounts have to be prepared and filled
Limited Company: Privately Managed Company owned by shareholders, run by Directors:
- The Company is a separate legal entity with its own rights and obligations
- The company is responsible for its own finances
- The business retains profits
- Annual reporting and filing with both Companies House and HMRC
- Liability is with the Company
Public Limited Company (PLC):
- A company that has offered shares of stock to the general public
- Liability is with shareholders proportionate to the amount of shares
Why are Budgets, Cash Flows and Financial / Audit Controls Important?
To ensure the correct allocation of resources and expenditure
What is the Impact of Poor Business Planning?
Too few people to do the work / too many people for not enough work
Inefficient use of resources
Miss key opportunities
What is PEST?
A framework to understand external influences on the business
Political
Economic
Social
Technological
