Business Planning Flashcards
(17 cards)
What is a business plan?
A business plan is a formal document that sets out a company’s goals and the strategy for achieving them. It includes financial forecasts, marketing strategies, and operational plans over a defined period—typically 1 to 4 years.
Why do we need a business plan?
A business plan provides direction and clarity. It helps align team efforts, attract investment, support decision-making, allocate resources efficiently, and monitor progress against strategic objectives.
What are the 4 different types of business plans?
a. Strategic Plan – High-level vision and long-term goals (e.g., net zero by 2030).
b. Departmental Plan – Focuses on how departments support corporate goals.
c. Operational Plan – Internal document outlining quarterly performance, pipeline opportunities, and market expansion.
d. Corporate Plan – Sets business-wide strategies including financial, client, and workforce planning (typically covers 1–4 years).
What are the typical contents of a business plan?
Executive Summary
Mission and Vision Statement
Company Background
Products/Services
Market and Competitor Analysis
Marketing and Sales Strategy
Operational Plan
SWOT Analysis
Financial Forecasts and KPIs
Risk Analysis
Timeline and Milestones
How long does a business plan usually apply?
Typically up to 4 years, though timeframes vary depending on business goals, industry trends, or investment cycles.
What is a SWOT Analysis?
SWOT stands for:
Strengths (e.g., strong client base),
Weaknesses (e.g., limited service in certain regions),
Opportunities (e.g., infrastructure spending),
Threats (e.g., economic downturn).
It helps assess internal and external strategic factors.
What is PESTEL Analysis?
PESTEL evaluates external macro-environmental factors:
Political, Economic, Social, Technological, Environmental, and Legal influences.
E.g., Inflation (Economic), or Climate Law (Environmental).
What is Porter’s Five Forces?
A framework for analysing the competitive environment:
Competitive rivalry
Threat of new entrants
Bargaining power of suppliers
Bargaining power of customers
Threat of substitutes
(Not core to APC, but helpful context.)
How do you ensure goals are effective?
By using the SMART framework:
Specific, Measurable, Achievable, Realistic, Time-bound.
E.g., “Achieve 80% APC sign-offs by December.”
Example of a SMART Goal?
Pass RICS APC in Winter 2025 by completing competency sign-offs by September, attending mock interviews monthly, and submitting the final documents in October.”
What is AECOM’s business strategy?
AECOM’s FY25 strategy (Ecosystem Strategy) focuses on:
Sustainable Legacies
Digital transformation
Global collaboration
Market diversification (e.g., energy transition, infrastructure)
Find full info on Colin Wood’s FY25 Ecosystem strategy page.
How do you help AECOM achieve its goals?
Accurately recording timesheets
Delivering excellent service to clients
Getting client feedback
Supporting junior staff (mentoring)
Participating in CSR initiatives
Working towards professional qualification (APC)
What is the RICS Business Plan/Strategy?
Strategic priorities (as per RICS 2024 Plan):
Enhance member value and engagement
Attract and support a diverse next generation
Lead and influence on sustainability
Strengthen trust in the profession
What are the different types of organisational structures?
a. Bureaucratic – Hierarchical with clear reporting lines.
b. Flatter – Encourages collaboration, fewer management layers.
Best structure is a balanced one—effective governance with agile decision-making.
What is financial benchmarking?
Financial benchmarking involves comparing a firm’s performance (e.g., revenue, margins, overheads) against industry competitors using KPIs. It helps identify areas for improvement and set performance targets.
How would you assess a firm’s performance?
Revenue and profit trends
Bid success rate
Project delivery KPIs
Client satisfaction and feedback
Brand reputation
Staff retention and engagement
What is accounting?
Accounting is the systematic recording, reporting, and analysis of financial transactions. It ensures transparency, compliance, and informs financial planning and decision-making.
