Chapter – 9 Underlying Competencies

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Chapter – 9
Underlying Competencies


Question 1: What are the fundamental skills a business analyst must have?
Answer: A business analyst must have the following core competencies:
  •          Analytical thinking and problem solving – These skills are required for business analysts to analyze the problems and opportunities effectively and to figure out which changes may be most valuable for the organization and to identify the best ways to present information to the stakeholders.
  •          Behavioral characteristics - Skills and behaviors that help business analysts to gain the trust and respect of stakeholders. They do so by completing their tasks on time, efficiently delivering quality results and coming up to the expectations of the stakeholders.
  •          Business knowledge – Business knowledge is required for business analysts to perform effectively within their industry, organization and business.
  •      Communication skills – These skills help in strategic business planning and help to inspire the employees to work towards organizational goals.
  •      Interaction skills – These skills indicate the ability of a business analyst to cooperate and communicate with different kinds of people including customers, team members, executives, suppliers and so on.

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·         Question 2: What do you mean by Business Acumen?
Answer: Business Acumen means the ability to understand business needs. It also includes the ability to recognize the risks involved and making decisions to manage them. Business analysts demonstrate business acumen by demonstrating their ability to:
·         Recognize when a there is a need to make changes in the direction of an effort due to change in the situation
·         Recognizing the opportunity to decrease expenses and increase income of the organization.
·         Determine which information would be applicable to the current situation of the organization.

Question 3: How are the organizational and time management skills helpful to business analysts?
Answer: Organizational and time management skills increase the efficiency of business analysts in managing their time and performing their tasks. Organization includes establishing short and long-term goals, action plans, prioritizing tasks and organizing the information. Time management is the ability to manage time in such a way that the deadlines are met, and the goal is accomplished in a given time limit. A business analyst must have these skills to perform tasks effectively and use work time efficiently.

Question 4: What is conceptual thinking in business analysis?
Answer: Conceptual thinking in business analysis is about understanding and connecting information and patterns that may not be related to each other. It is needed to connect information from numerous stakeholders, objectives, risks, details and other factors. It also involves intuitions, past experiences, creativity to generate options, alternatives and ideas that are not easily defined.

Question 5: What tools and technology are used in business analysis?
Answer: Tools and technology used in business analysis are:
  1.          Office productivity tools and technology – these tools provide business analysts with the ability to understand, organize and communicate information clearly.
  2.           Business Analysis tools and technology – business analysts use a variety of tools and technology to analyze the business activities and communicating with stakeholders.
  3.          Communication tools and technology – business analysts use communication tools and techniques to enable more efficient and accurate communication leading to more effective decision making.

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Comments

  1. Balpreet SinghJanuary 22, 2020 at 8:43 PM

    Business acumen is a key to get success in a business.It is a ability to take decisions for the betterment of business by using the knowledge,experience and awareness.A business analyst must have this ability to view their long term overall business requirements and to sustain a business a business analyst have to cope with different situations and take right decisions.It is not a single skill ,it is a group of knowledge,awareness of different aspects of the business.It is also known as business savvy and business sense.

    ReplyDelete
  2. Kim LeJanuary 23, 2020 at 10:25 AM

    Before entering practical job, a business analyst should improve and practice essential competencies such as analytical thinking and problem solving, behavioural characteristics, business knowledge...
    However, a business analyst must always learn new skills actively and continuously in order to adapt the changable situations, contexts which a business analyst is working on. Such skills as business acumen, organizational and time management, conceptual thinking are extremely useful that any business analyst should possess. Moreover, business analysts need frequently update the latest tools and technology which support business analysis jobs because they will bring more productive tasks and can save remarkable time in a project. In general, the main focuses are the flexibility and adaptibility are what employers are looking for in a business analyst because these skills help business analysts develop any skills and knowledge that needed.

    ReplyDelete
  3. Navdeep Kaur SranJanuary 23, 2020 at 5:20 PM

    A Business Analyst at TD bank is responsible for understanding and determining customer needs to recommend solutions. He must have fundamental skills of achieving assigned goals and business objectives by promoting banking solutions and he needs to connect personally with customers to advise them appropriately on banking processes. Moreover, the business analysts at TD bank should adapt to conceptual thinking by helping different stakeholders build a positive and diverse work environment by promoting team effectiveness. Organisational and time management skills assist TD Bank's analysts to accomplish the tasks within given time-frame, so that they have enough time to perform other duties in the organisation. A business analyst at TD Bank must assess the business needs in advance so that he gets prepared with the possible solutions of upcoming risks or problems.

    ReplyDelete

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