Core Concept Flashcards
The act of transformation in response to a need
Change
Organizations implement ______ to stay competitive, foster innovation, improve efficiency, and ensure long-term success in a dynamic and evolving environment
Change
hese enhancements are managed and completed through business analysis activities
Change
A problem or opportunity to be addressed
Need
can cause changes by motivating stakeholders to act
Need
Changes can also cause _____ by reducing or increasing the value delivered by existing solutions
Need
A specific way of satisfying one or more needs in a context
Solution
Resolving a problem faced by stakeholders,
Solution
Enabling stakeholders to take advantage of an opportunity
Solution
can include a combination of components that deliver the desired value, for example:
° Technology-based initiatives
° Manual procedures
° Process changes
° Business model updates
° Improving organizational capabilities
Solution
A group or individual with a relationship to the change, the need, or the solution
Stakeholder
(both internal and external) are often defined by their interest, impact, and influence over the change
Stakeholder
grouped based on their relationship to the needs, changes, and solutions
Stakeholder
The worth, importance, or usefulness of something to a stakeholder within a context
Value
Realized through potential returns, gains, and improvements
Value
Preserved by mitigating losses, risks, and costs
Value
can be tangible or intangible
Value
is directly measurable and often has a significant monetary component
Tangible Value
is measured indirectly and often has a significant motivational component (e.g., company’s reputation or employee morale)
Intangible Value
can be assessed in absolute or relative terms (e.g., one solution option is more valuable than another from the perspective of a group of stakeholders)
Value assessment
