The strategic context for Business analysis - Module 3 Flashcards
Provide a definition of Strategy
The long term direction of an organisation
Why is a strategy Important
Provides a foundation for organisation to succeed through aligning execution with the context of its internal and external environment
What are the benefits of a BA understand the strategic context ?
- Analyse and Discuss strategic approaches and priorities
- Build credibility
- Question appropriateness
- Analyse effectiveness of approach
- Provide leadership and influence in delivery
PESTLE Analyses?
The external environment
What does PESTLE stand for ?
Political, Economical, Social, Technological, Legal and Environmental
Does VMOST analyse the External and Internal Environment?
Internal
What’s the point of VMOST ?
Provides approach for development and the assessment of strategy
List the elements of VMOST ?
Vision, Mission, Objective, Strategy, Tactics
What is Mission in VMOST?
Describes what an organisation does or will do
What is the Vision in VMOST ?
Defines the target state for the organisation
What is a CSF ?
Few key areas that must go right for the business to achieve its goals
What is a KPI ?
Indicator that we measure on a regular basis that will indicate whether we are making progress towards achieving the associated CSF
What part of SWOT is external and Internal ?
S and W are Internal
O and T are External
What is the business model canvas ?
Model showing how an organisation manages, creates and delivers value
What can the BMC be used to assess ?
Current and Target state
What is the Target Operating Model ?
Representation of how a company can be best organised to efficiently and effectively deliver and execute organisations strategy
TOM should cover a full range of elements across
POPIT
List the elements of POPIT:
People, Organisation, Processes, Information and Technology
Why should we use the POPIT model ?
To ensure that all internal business aspects are considered when investigating a business area
Addressing elements and considerations of the POPIT model provides firm basis for developing an effective ____
TOM
What is Adaptive strategy
Iterative development of an organisations strategy in response to market or stakeholder feedback
What is Linear strategy
Gradual, systematic development of an organisations strategy
What are the levels of strategy
Corporate level strategy
SBU
Operations level strategy
Corporate level strategy, what is this concerned with ?
Concerned with the overall purpose of the business
What is the Strategic business unit level concerned with?
Addresses particular areas of product pricing, customer focus and competitive advantage within their own areas
What is operations level strategy concerned with
Delivering of corporate and SBU strategies by making sure the organisation is effectively deploying resources, people and processes
