Business Planning - Level 1 Flashcards
(18 cards)
Tell me about your involvement with business planning.
My involvement includes developing strategies and setting objectives to guide the organization.
What are the corporate objectives of your firm?
The corporate objectives typically include growth, profitability, and market expansion.
How do you work towards these in your role?
I align my tasks and projects with the corporate objectives to ensure we meet our goals.
What are some of the typical things you’d find in a business plan?
Typical elements include an executive summary, market analysis, financial projections, and marketing strategies.
How can an up to date business plan help an organisation in the current economic climate?
An up to date business plan provides direction and helps in adapting to changing market conditions.
How do you use networking to further your business planning skills?
I attend industry events and connect with professionals to share insights and best practices.
Why is relationship building important for your role?
Relationship building fosters collaboration and can lead to new opportunities and resources.
What is a SWOT / PEST analysis?
SWOT analysis evaluates strengths, weaknesses, opportunities, and threats; PEST analysis examines political, economic, social, and technological factors.
Can you tell me about when you have used one in your role?
I used a SWOT analysis during a strategic planning session to identify key areas for growth.
What insurance types have you dealt with and what risks have they protected against?
I have dealt with liability, property, and business interruption insurance to mitigate various risks.
Explain the objectives of the RICS Covid-19 Recovery Business Plan.
The objectives include ensuring business resilience and adapting to post-pandemic challenges.
Why are the RICS consulting on their business plan?
They are consulting to gather feedback and ensure the plan meets the needs of their stakeholders.
What is this strategic review called?
This strategic review is referred to as the RICS Business Plan Review.
What is business continuity and why is it important?
Business continuity refers to the processes that ensure critical business functions continue during a disruption.
Explain how the apprenticeship levy works.
The apprenticeship levy is a tax on employers to fund apprenticeship training.
Why might the apprenticeship levy be beneficial to a business?
It can help businesses develop a skilled workforce and improve employee retention.
When is the apprenticeship levy payable?
The apprenticeship levy is payable monthly based on the employer’s payroll.
Why is business continuity important?
It ensures that an organization can continue operating during and after a crisis.
