Business Planning

Question 1

What is a Business Plan?

Answer 1

• Defines the business objectives
• Suggests the steps to be taken for the business strategy over the next 3-5 years

Question 2

What makes up a Business plan?

Answer 2

1. Executive Summary
2. Business description
3. Market research and strategies
4. Staff structure
5. Financial documents

Question 3

What are your companies main objectives?

Answer 3

• G&S have a 2030 plan which is about increasing company growth and turn over
• My department looks to grow into new sectors and spread services across the UK

Question 4

3 levels of business management?

CMO

Answer 4

• Corporate
• Management
• Operational

Question 5

What can a business plan help with?

Answer 5

• Staff targets
• Responding to change
• Focus on new target areas
• Gain new clients
• Budgeting

Question 6

What is SWOT Analysis?

Answer 6

Strengths
Weaknesses
Opportunities
Threats

Question 7

What is SWOT analysis used for?

Answer 7

A planning method that is used to find competitive advantage over competitors

Question 8

What is PESTEL analysis?

Answer 8

• Political
• Economic
• Social
• Technology
• Environmental
• Legal

Question 9

What is PESTEL used for?

Answer 9

To analysis external factors which can affect the business

Question 10

What are KPI’s?

Answer 10

• Key performance indicators.
• These can be long term, medium term, short term

Question 11

What is meant be the term Business Strategy ?

Answer 11

Actions and decisions planned by a company to reach goals and objectives

Question 12

Name some Business Planning techniques?

Answer 12

• SWOT analysis
• Cost saving areas
• Assessing opportunities and risks currently

Question 13

What different types of company’s are there?

Answer 13

• Limited Liability Partnership
• Public Limited Company
• Sole Trader
• Limited Company