Business Planning Flashcards
(10 cards)
Q. How may a public sector business plan be different to a private sector one?
Private focuses on business goals
Public bases off government goals ie NZC by 2050
Q. Are you aware of AR’s business plan?
Yes.
Our latest business plan is made up of both short term and longer term goals.
Short term
Increase exposure to growing markets such as renewables, water and nuclear
Increase revenue by 5% for my department
Increase profit margin to 10%
Long term (2030)
Provide £1bn of Social Value
Increase diversity of leadership teams
Integrate artificial intelligence to streamline efficiency
Q. What are the short term and long term goals of business?
Short term - goals / targets in the next 2-3 years for a business to achieve
Long term - the longer term ambitions for companies which uses their short term goals to achieve these
Q. What are SMART targets?
Specific
Measurable
Achievable
Relevant
Time based
Q. What would you expect to see in a business plan?
Company targets and plan to achieve them
Company values and how these are aligned to the targets
Short term and long term strategies
Q. What are some of the key markets your company are trying to target?
Nuclear
Renewables
Water
Q. What is SWOT analysis and why do you use it?
SWOT analysis is a strategic planning tool to identify the considerations that are affecting a business or project.
STRENGTHS
WEAKNESS
OPPORTUNITIES
THREATS
Q. What metrics does your business report on each quarter?
Revenue
Profit
Margin
Utilisation
Book to bill
Q. What is in your company’s business? How do you contribute to this?
Increased utilisation of staff
I do this by ensuring I am always utilised and if not, plan ahead to get project work from other people.
Q. What is in the RICS’ business plan 2022? (STRIDE)
S = Stakeholder satisfaction
T = Training and qualifications stay relevant
R = Raise member satisfaction
I = Innovation in ESG, DEI and technology
D = Diverse and generational talent
