Business Planning

Question 1

What procedures does you frim put in place to ensure that they are profitable ?

Answer 1

• Resource Planners
• Projects reviews
• Performance reviews
• Target setting
• Clear KPI’s.

Question 2

What issues would a company experience with a high staff turnover ?

Answer 2

• Increased recruitment costs
• Increased training costs
  -Poor staff moral
• Reputational damage

Question 3

What components are in a business plan ?

Answer 3

• Executive Summary
• Marketing Strategy
• Competition
• Visions and Mission Statements
• Products/ Services
• Organisational Structure
• Targets
• SWOT Analysis
• PEST Analysis (Political, economic, social, technological)

Question 4

What is a business model?

Answer 4

A business model is a strategy implemented by an organisation to generate revenue and make a profit.

It consists of: products and services, targets clients,

Question 5

What are KPI’s ?

Answer 5

Key performance indicators.

These can be long term, medium term, short term

Question 6

What is meant be the term business strategy ?

Answer 6

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