business planning apc questions

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Rics apc – business planning.

Posted on June 23, 2018 Updated on June 23, 2018

Introduction.

Business Planning is a mandatory competency that APC candidates from all pathways need to achieve at Level 1.

Candidates from the Art & Antiques pathway may elect to take this competency to Level 2 or 3 as part of their optional selection.

Business Planning is a Core Competency at Level 3 for the Management Consultancy pathway.

Please note that the requirements at Level 1 when taken as a Technical Competency within the aforementioned pathways are slightly different from the requirements as a Mandatory Competency. You should refer to your specific Pathway Guide for more details.

What is it about?

The official RICS definition is:

Level 1 = ‘ Demonstrate knowledge and understanding of how business planning activities contribute to the achievement of corporate objectives’.

It includes several topics:

• Legislation and principles of law – See Pg. 33 of the RICS Practice Management Guidelines
• Types and essential elements of Business Plans
• Short term / long term strategies
• Market analysis (SWOT / PEST)
• Organisational structures / Staffing levels – recruitment / turnover
• Business support services – administration, secretarial, HR, IT etc.

Most APC candidates will have come across the key concepts of Business Planning – knowingly or not – at some point during their graduate studies. Some of the largest employers may also offer on-line management training modules. Alternatively nothing stops you from picking up a basic book on business management to brush on your knowledge in strategy, organisational structures, market analysis, etc

I also strongly recommend you to read the  RICS Practice Management Guidelines   to understand how business planning is relevant to surveyors. It has now been withdrawn but we have saved a copy for you!

Those working in the largest companies may recognise some of the tools used by their employers and gain an understanding of why those are in place. Those working in small practices or as self-employed may find very useful advice to grow their business acumen.

Potential APC Questions

Due to time constraints, assessors will only have time to ask you a few questions on Business Planning. As a minimum they will expect you to know what a business plan is, be familiar with your company’s business plan and business model, and understand how you can contribute to the achievement of your company’s corporate objectives.

If you are applying under the Senior Professional Route (SPA), assessors will expect you to have a detailed understanding of the development and implementation of your company’ s business plan.

Some very classic questions would be;

• What is a business plan? What do you find in a business plan?
• Can you tell us about your company’s current business plan?
• What is your company’s management structure / business model?
• What are your company’s values?
• What tools does your company use to manage its business?
• How do you ensure that you contribute to the achievement of your company’s objectives / business plan?
• What is contained within an appointment document? What are your company’s terms of business?
• What is the relevance of a SWOT or PEST analysis to business planning?

Some points that you will have stated in your Summary of Experience may trigger some questions more specific to your experience and personal knowledge .

For example you may state in your Summary of Experience that you have studied Porter’s Five Forces Model, SWOT analysis and PEST analysis as part of a business module at University. This may lead the APC assessors to ask you to explain what they are and to give an example specific to your company.

Business Planning is a crucial competency for those considering setting up their own practice or progressing to a management role after attainment of the MRICS status. I therefore recommend that you do not neglect it, both for your APC and future career development.

Familiarise yourself with your company’s business plan and its management structure and tools. Consider how you personally contribute to achieving its objectives (‘achievement of corporate objectives’ is contained within the definition of this competency). This may be by completing your timesheets and expenses in a timely manner or assessing your own competences and planning your CPD’s to acquire the relevant skills.

Make sure that you understand how to prepare a business plan and what it should look like.

All our past APC candidates will give you the same advice: do not underestimate the time required to revise (learn?) for your APC! It will easily take you 3 months of solid studying every evening.

To make this task a little easier, APC Support Ltd offer on-demand revision webinars covering all the technical and mandatory competencies in Quantity Surveying, Built Infrastructure, Building Surveying, Building Control, Project Management and Facilities Management.

Alternatively, we offer face-to-face training for corporate clients across the UK. Please e-mail us at [email protected] to discuss your requirements.

All the modules are recorded and will provide you with over 30 hours of formal CPD. You can attend them on a pay-as-you-go basis or subscribe to our unlimited revision package .

Best of luck!

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This entry was posted in Mandatory Competencies , Uncategorized and tagged APC , business planning , coaching , Experience , Mandatory competencies , mentoring , Record of Experience , RICS , Summary of Experience , support , tips .

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• May 8, 2017

Hot Topic Highlight - Business Planning

Building a better you

Property Elite’s sole aim is to build better property professionals - supporting your career every step of the way, whether you are an AssocRICS or RICS APC candidate or a MRICS or FRICS Chartered Surveyor simply seeking engaging CPD.

We provide a wide range of training and support, so why not find out more on our website about how we might be able to support you? We work with candidates across all RICS APC and AssocRICS pathways, routes to assessment and geographic regions.

Don’t forget to sign up online for your free 15 minute AssocRICS or RICS APC consultation, including a review of your referral report if you have been referred. You can also book your bespoke training or support services directly through our web shop.

Not sure about signing up? Make sure you read what our recent successful candidates have to say in our Testimonials.

What is today's blog about?

In this blog article, we will take a top-level look at what you need to do for your RICS APC, covering the mandatory competency; business planning, as well as looking at RICS requirements and legislation.

You can also listen to our CPD podcast on Anchor for more free AssocRICS and RICS APC training and support.

Why is this relevant?

This is a common theme of questioning within the RICS APC, particularly in relation to mandatory competence; conduct rules, ethics and professional practice. It’s also important to understand the business in which you work, plus you may want to work for yourself in the future.

What do I need to do?

Firstly, you need to establish whether there is market demand for your service. Detailed market research will reveal whether there is a gap in the market or whether you could create a new market. Looking at the competition is important to work out things you like, things you don’t and how you could do things better.

Ask yourself; what problem are you solving and why does your solution makes your business unique?

You need to decide how to efficiently structure your business depending on your objectives and ownership structure. Common structures include being a sole trader, limited liability partnership (LLP) or limited company. Also, how will your fund your venture and will you require external sources of finance, e.g. bank or venture capital?

This will form the basis of your business plan. You will also need to think about branding, marketing and forecasting cash flows.

What are the RICS requirements?

Being a RICS regulated firm demonstrates to clients that you are at the top of your game; ethical, trustworthy and transparent. It is the gold standard within the property industry and most clients will expect that their advisors are regulated firms. To benefit from being regulated, you would need to submit a firm details form to the RICS. There is no cost to doing so.

After you become regulated, you must comply with the RICS Rules of Conduct for Firms. These include a number of mandatory requirements such as:

Having adequate Professional Indemnity Insurance (PII)

Complying with regulations for holding clients’ money

Having a written Complaints Handling Procedure 

Ensuring that your staff receive adequate training to enable them to act competently

What legislation is relevant?

You also need to consider various statutory requirements:

Business Names Act 1985

Companies Act 1985

2017 Money Laundering Regulations

Consumer Credit Act 1974 (for certain activities)

Financial Services and Marketing Act 2000 (for certain activities)

If you intend to employ staff, then you will also need to consider relevant employment legislation. 

Setting up a new business can be a minefield of red tape with an endless ‘to do list’ to get you to day 1 of trading. However, it is also a highly rewarding process which helps you to turn your passion and dream into a solid reality.

Having an appreciation of the process is essential for the APC, but it will also stand you in good stead to become a better property professional in the future.

How can we help?

Head to our blog archive to access even more free CPD and AssocRICS and RICS APC training and support.

Download your free AssocRICS and RICS APC resources, including e-books and revision quizzes.

Find out more about our bespoke AssocRICS and RICS APC training and support, before booking your free 15 minute consultation and signing up for your services online.

Stay tuned for our next blog post to help build a better you

N.b. Nothing in this article constitutes legal or financial advice.

• Business Planning

• ABOUT ROSHAN

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CONSTRUCTION JOURNAL

Mastering the Sustainability APC competency

APC candidates must have a solid understanding of the Sustainability competency so they can help the profession face growing challenges

• Susan Hanley

15 June 2019

Sustainability

Sustainability is a mandatory competency to Level 1 across all APC pathways, therefore candidates must 'demonstrate knowledge and understanding of why and how sustainability seeks to balance economic, environmental and social objectives at global, national and local levels in the context of land, property and the built environment'.

• examples of sustainable technologies and renewable energy sources, as well as the way they operate and can be integrated
• examples of sustainable design and its effect on properties
• costs, including taxation, operational and maintenance costs and lifecycle costs.
• 'At university I learnt about the three pillars of sustainability.'
• 'Through work experience I have gained an understanding of sustainable technologies such as ...'
• 'I attended a course that identified the effect of Building Regulations on reducing emissions in the residential sector.'
• 'Through structured reading, I am aware of the systems that are used to measure sustainability.'

Start your research with RICS guidance, such as the Whole life carbon assessment for the built environment professional statement. There are numerous articles on sustainability in Modus, the RICS journals and other industry publications.

'You should be aware of materials and technologies used in sustainable building, and of how sustainability is measured'

To judge whether or not such reading would be suitable for your summary of experience or CPD record, you should try to verbalise your learning – being specific can help you recall your content at final assessment.

Once you have drafted your summary of experience in line with competency requirements and logged relevant CPD, you should consider the final assessment. A CPD entry or part of your summary of experience on reading an article may prompt a question such as 'Tell me about your learning outcome from what you read'. Identifying a more specific learning outcome means assessors can focus the question: 'I see you read an article on the impact of building information modelling on sustainability. Tell me about this.'

Although you may be asked direct questions on mandatory competencies, you also need to be aware they can be covered during questioning on other technical competencies or your case study, so make sure you have good knowledge of sustainable practices relevant to your sector, and refresh yourself on your learning outcomes and summary of experience.

With more than 40 per cent of the UK's carbon footprint attributed to the built environment, knowledge of the ways the profession can raise awareness and tackle this is crucial. This competency is just the first step.

Susan Hanley FRICS is director of the APC Academy and RICS regional training adviser for Scotland [email protected]

Related competencies include: Sustainability

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• Best for a detailed budget
• Best for tracking investment accounts
• Best for taxes
• Best for a hands-on approach
• Other apps that didn't make the cut and why
• Methodology

Frequently asked questions

Best personal finance management software of 2024.

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.

The Best Personal Finance Software

• Best for a detailed budget: Quicken Deluxe
• Best for tracking investment accounts: Empower Personal Dashboard
• Best if you like filing your taxes independently: TaxAct
• Best for a hands-on approach: Google Spreadsheets

Ready to get a better understanding of your finances? Personal finance software can be a great tool for building better money habits and learning how to budget in the long term.

If you'd like more guidance when making a budget, consider also downloading a budgeting app .

Here are four excellent options you might consider if you're searching for personal finance software.

Best for a Detailed Budget

Cost: Regular pricing is $5.99 per month

Why it stands out:  Quicken Deluxe is a desktop software program. It's available for download for Mac and Windows computers. 

With the program, you'll be able to connect and keep track of bank accounts, investment accounts, loans, and credit cards . You'll also be able to create a 12-month budget. Usually personal finance software programs only have monthly budget plans.

Quicken Deluxe also has a "what-if" tool that lets you see potential scenarios when you make certain investments or loan decisions to help you build a financial plan .

What to look out for:  Quicken Deluxe primarily focuses on basic finances and investments. If you have a business or prefer more robust features, like priority customer support, you may fare better with Quicken Premier or Quicken Home & Business.

Regular pricing for Quicken software plans varies from $3.99 per month to $10.99 per month.

Best for Tracking Investment Accounts

0.49% to 0.89%

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free financial and wealth management tools; fees top that of traditional brick-and mortar-firms
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Investment selection includes stocks, ETFs, bonds, and private equities; portfolio management for employer-sponsored plans (e.g., 401(k)s or 403(b)s)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Socially responsible investment strategies and tax optimization strategies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. One-on-one financial advisor guidance
• con icon Two crossed lines that form an 'X'. High management fees
• Promotion: None at this time.

Cost:  Free

Why it stands out: The Empower Personal Dashboard is another software tool that's available through a mobile app or website. You might find the Empower Personal Dashboard appealing if you want to use a well-rounded platform that also helps monitor investment accounts and retirement plans .

With the Investment Checkup feature, you can check your current portfolio allocation alongside an ideal target allocation to minimize risk and reduce volatility. It also has a fee analyzer tool that reviews hidden fees for mutual funds , investment accounts, and retirement accounts.

What to look out for:  Some tools are exclusively for Empower advisory clients. For example, clients will have access to a financial roadmap tool that can help them stick with major financial goals.

Sign up for Empower Personal Dashboard

Best for taxes.

$0.00 - $99.99 (+$39.99 or $59.99 for state return, depending on package)

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Expert help is available with every filing package
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free federal and state filing covers student and child tax credits
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pay less than H&R Block and TurboTax and get a comparable experience
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Efficient and streamlined interface
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Tax document upload and import for easy data entry
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Handy "double check" tool flags common errors
• con icon Two crossed lines that form an 'X'. State returns aren't free, even when you qualify for free federal filing
• con icon Two crossed lines that form an 'X'. Middle-of-the road option when it comes to cost

TaxAct gets the job done with fewer bells and whistles than H&R Block or TurboTax, though costs can still add up. It's best for someone who appreciates a simple, streamlined interface.

• 4 plans, including a free federal option
• Simple, intuitive interface
• Free, instant access to a tax expert at all plan levels
• Good middle-of-the road option on price and efficiency
• Option to have a professional file your taxes at an additional cost

Cost:  $0.00 - $99.99 (+$39.99 or $59.99 for state return, depending on package)

Why it stands out: TaxAct is one of our best tax software picks. TaxAct has four DIY online options: Free, Deluxe, Premier, and Self-Employed plans. You'll pay one price for a federal tax return, and if you have to file a state tax return you'll pay an additional fee. 

TaxAct stands out from other tax software companies because it offers free expert support, regardless of which DIY plan you have. If you have questions while filing your tax returns, all you'll need to do is submit questions, and an expert will reach out to you over the phone.

What to look out for: Other tax software companies do not charge a fee for state returns, and they have lower fees for filing federal tax returns (although, their features may not be as robust). 

File with TaxAct

Best for a hands-on approach, google sheets.

Why it stands out: Perhaps you don't want to link all of your bank accounts or credit cards, and you don't mind taking a more active approach to money management. Then, you might consider using Google Sheets for a straightforward way of analyzing your spending and savings goals . 

Even those who aren't as tech-savvy will find that Google Sheets has a simple, no-fuss setup process. All you need to do is set up a Google account and open the Google Spreadsheets tab. Then, you can select a general template for budgets or investment tracking and follow the steps listed on the spreadsheet.

Keep in mind that you'll have to update your spreadsheet regularly to have an effective spreadsheet.

What to look out for: Creating and maintaining your budget fully depends on whether you're willing to manually input all your data. Some may like having a closer, more hands-on approach to tallying expenses or tracking changes. But if you're worried that it might become too overwhelming to make updates every month, consider one of our other options. 

Other Personal Finance Software We Considered That Didn't Make the Cut and Why

• Tiller: Tiller might be worthwhile if you prefer tracking money in a spreadsheet, but don't want to update it manually. It links your bank accounts and credit cards to Google Sheets or Microsoft sheets so your transaction and balance information automatically update. It wasn't a top pick because Tiller only has a 30-day free trial, then costs $79 per year.
• YNAB App : You may use YNAB App through the web or on an app. While it could be a good choice if you struggle with your spending in specific categories, Quicken Deluxe have more robust features. It also has a 34-day free trial, then you'll have to pay $14.99 per month or $99 annually.
• Monarch Money : Monarch Money is a personal finance app and online platform. The plan costs $14.99 per month or $99.99 per year and allows you to track investment accounts or use customizable budget categories.
• GNU Cash : This is a free accounting software for personal and small business finances. You may download the program for Windows and Mac devices. With GNU Cash, you manage your finances through a traditional checkbook system. It could be worth considering if you have a business, but for those who don't, it likely won't be an easy-to-use interface.
• Quicken Simplifi : Simplifi by Quicken is a cloud-based software program, which means you'll need to have an internet connection to use its services. In comparison, other Quicken programs can be downloaded onto your computer. Simplifi by Quicken also isn't as robust as Quicken's desktop programs.
• Quicken Starter: Quicken Starter could be worthwhile if you want a basic overview of your finances. But if you want to be able to create a 12-month budget or keep track of investment accounts, Quicken Deluxe will be a more compelling option. 
• Rocket Money : Rocket Money has an app and online platform. Its premium plan has concierge services to review bills, premium customer support, unlimited budgets, and customizable budget categories. 
• TaxSlayer : TaxSlayer was featured as the best budget pick in our best tax software guide. However, to qualify for the Simply Free Plan, you must have taxable income under $100,000, and you won't be able to claim dependents. TaxAct's free plan allows you to claim dependents. It also offers expert help with all filing packages.
• H&R Block Tax Software : H&R Block is also featured in our best tax software guide. If you want to choose a more affordable option, you may prefer TaxAct, though.
• TurboTax : TurboTax is featured in our best tax software guide and might be worth considering if you have a complex tax situation. However, TurboTax Premium plan cost more than TaxAct options. 

Methodology: How did we choose the best personal finance software?

Research is an important part of choosing a personal finance software program that fits your needs. First, we compiled a list of 13 personal finance software programs. Then, we compared each program by analyzing the following criteria: platform accessibility, pricing, money management features, and user experience. With tax software programs, we only considered the DIY online filing options. We did not consider full-service packages where an expert helps with taxes.

The best personal finance software for you depends on your financial goals and habits. Someone new to money management will likely want different features than someone who is seasoned in making budgets or prefers filing their taxes.To help you figure out which personal finance software program could be a good option for you, we highlighted the benefits and limitations of each product. 

There are free personal finance tools that you may use online. For example, Empower, GNU Cash, and Google Spreadsheets are free. Rocket Money also has free option.

What personal finance software is easiest for you will largely depend on your needs and level of comfort with technology and finance. Google Sheets is by far the easiest to set up, but it won't help you with the finance side of things. Conversely, something like Quicken Deluxe might not be as easy to set up, but it is far more helpful for your finance needs.

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Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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Activist Investor Seeks to Force Out Norfolk Southern’s Management

A year after a derailment in Ohio raised questions about rail safety, an investment firm is seeking to install new management in an effort to increase profits.

By Peter Eavis

After one of Norfolk Southern’s freight trains derailed last year , spilling hazardous chemicals in an Ohio town, the company’s leaders were assailed by lawmakers, regulators and angry residents, an onslaught the executives managed to survive.

But Norfolk Southern’s management faces a fresh challenge this week from an investment firm that is asking shareholders to vote to replace the company’s chief executive, Alan Shaw, and appoint new directors to its board.

The campaign by Ancora, a Cleveland investment firm, invokes the accident in East Palestine, the Ohio town, but its main aim is to overhaul Norfolk Southern’s business strategy to bolster its profits.

The company’s leaders are vulnerable because Norfolk Southern’s stock price and profit margins lag those of its peers. Ancora’s plan in large part rests on cutting costs and making the company’s 19,100-mile rail network run more efficiently. In the past, investors have reaped big gains by installing managers who have pursued similar measures at other U.S. and Canadian freight railroads.

“When a network is broken, you see poor delivery times, more severe accidents and weak financials. Everyone suffers,” Jim Barber Jr., Ancora’s proposed chief executive, said in a statement on Tuesday. “We have the people and plan to earn trust and have the railroad live up to its potential.”

Norfolk Southern’s leaders contend that they are well suited to strengthen the railroad so it can thrive regardless of the state of the economy and that the company’s financial results would improve as it addressed safety issues and legal claims stemming from the East Palestine derailment.

The accident and the decision by Norfolk Southern to burn off a toxic chemical being transported on some of the derailed cars increased scrutiny of the railroad industry’s safety record. A bipartisan group of federal lawmakers proposed legislation that would strengthen rail safety rules, but the measure has not advanced.

Several government agencies are still investigating Norfolk Southern, including the National Transportation Safety Board, which is expected to release its findings on the cause of the accident soon. The company agreed last month to settle a class-action lawsuit filed by businesses and residents in East Palestine.

“We have a balanced strategy that’s built for the future, to break the cycle of rail losing market share to truck every year,” Mr. Shaw, who has been at Norfolk Southern for three decades, said in a statement Tuesday. “It’s working, we are safer, delivering better service, becoming more productive, and creating long-term value for our shareholders.”

Ancora and Norfolk Southern have been criticizing each other’s plans for the company for several weeks in an effort to win over shareholders. The results of the vote could be made public on Thursday, when the company holds its annual meeting. One big Norfolk Southern customer, Cleveland-Cliffs, a steel producer, is supporting Ancora, but others, including Consol Energy, the coal producer, are backing Mr. Shaw’s team.

Glass Lewis, which advises shareholders on how to vote, supports Ancora, while its peer, Institutional Shareholder Services, gave partial backing, suggesting that shareholders vote for some of the directors from each of the slates of nominees put forward by Ancora and Norfolk Southern, including Mr. Shaw.

Notably, Ancora is opposed by a prominent rail regulator: Martin J. Oberman, the departing chairman of the Surface Transportation Board, the federal agency that oversees freight railways. He contends that Ancora is proposing to cut costs so much that it could leave Norfolk Southern without the capacity to deal with an upswing in demand and unexpected disruptions, like the recent closing of the Baltimore port, which required a rerouting of coal shipments on Norfolk Southern trains .

“You don’t send a football team out onto the field without a backup quarterback,” said Mr. Oberman, who is retiring at the end of this week. “So when you have a disaster like Baltimore, Norfolk Southern was able to jump in and move all of that coal.”

Mr. Barber, Ancora’s proposed chief executive, was chief operating officer at UPS. John Kasich, the former Ohio governor, is among the six other proposed directors on Ancora’s slate.

In some ways, Norfolk Southern was obvious prey for a shareholder activist.

In the three years leading up to Jan. 30, the day before Ancora’s proposed overhaul was first reported, Norfolk Southern’s shares were flat, compared with a 25 percent rise for shares in CSX, another large freight railroad that operates in many of the same areas as Norfolk Southern.

Profitability also trailed. Last year, CSX’s operating margin, which measures the profits left after the costs of running the business, was 37.9 percent, compared with 32.6 percent for Norfolk Southern. Those numbers exclude expenses related to the East Palestine disaster.

Ancora wants to increase those profits by applying precision scheduled railroading, a collection of practices that were introduced in the rail industry over two decades ago. The practices include moving rail cars more quickly, standardizing scheduling, using fewer workers and operating longer trains.

Ancora has said the management it is seeking to install at Norfolk Southern would be able to slash costs by $800 million in its first year by reducing locomotives and freight cars and redesigning Norfolk Southern’s network. Ancora also expects the new executives to cut 1,450 employees over three years. Norfolk Southern employed 20,700 people at the end of last year.

Norfolk Southern, like other big freight railroads, has already adopted some elements of precision scheduled railroading. But during the coronavirus pandemic, freight railways cut back so far that their service suffered when the economy rebounded in 2021. In December 2022, Mr. Shaw said Norfolk Southern would strengthen its network so that it could perform better through economic ups and downs. This meant keeping more capacity and workers on hand during lean periods.

Tony Hatch, a longtime railroad industry analyst, calls the company’s approach the “great experiment” and said he supported it. The rail industry cannot rely too heavily on controlling costs and should try to grow by winning new business and competing more effectively with trucking, he added.

Norfolk Southern’s financial results might have fared better under Mr. Shaw’s strategy, Mr. Hatch said, if the East Palestine derailment in February 2023 had not distracted management for a year. But he said Norfolk Southern’s management had struggled to fight back against Ancora. “Their messaging has not been good,” Mr. Hatch said.

One recent bright spot for Norfolk Southern has been its safety record. Its accident rate improved markedly last year while those of its peers worsened.

Precision scheduled railroading got a bad name when its pioneer, Hunter Harrison, tried to apply it at CSX in 2017. Customers complained that service deteriorated. Unions and rail workers have said the practices can undermine safety . The leaders proposed by Ancora said that CSX had made changes too fast and that they would introduce precision scheduled railroading practices at Norfolk Southern over a longer period — three years.

“When you put your network redesign on paper and bring that to your constituents, they can be partners in an implementation and help you do it right each step of the way,” Greg Marose, a spokesman for Ancora, said in a statement. “Make no mistake, this is a long-term strategy.”

Peter Eavis reports on the business of moving stuff around the world. More about Peter Eavis

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