Chapter 6

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Question 1. What do you mean by Strategy Analysis?
Answer: The Strategy Analysis describes the business analysis work that must be performed to collaborate with stakeholders to identify a need of strategic or tactical importance. It focuses on identifying the future and transition states needed to address the business need and the work required is identified both by that need and the scope of the solution space. Strategy analysis is an ongoing activity that assesses any changes in that need, in its context, or any new information that may indicate that an adjustment to the change strategy may be required.

Question 2. What Is the purpose of defining the Future state?
Answer: The purpose of defining the Future State is to determine the set of necessary conditions to meet the business need. Business analysts work to ensure that the future state of the enterprise is well defined and that key stakeholders have a shared consensus vision of the outcome. The future state description can include any context about the proposed future state. It describes the new, removed, and modified components of the enterprise. It can include changes to the boundaries of the organization itself, such as entering a new market or performing a merger or acquisition. Describing the future state allows stakeholders to understand the potential value that can be realized from a solution, which can be used as part of the decision-making process regarding the change strategy.

Question 3. Represent the input/output diagram of the change strategy.
Answer: Defining a change strategy usually involves identifying several strategies and ultimately selecting the strategy that is most appropriate for the situation.


Question 4. What is Gap Analysis and how is it useful?
Answer: A gap analysis identifies the difference between current state and future state capabilities. Gap analysis can help identify the gaps that prevent the enterprise from meeting needs and achieving goals. It can be used to determine if the enterprise can meet its needs using its existing structure, resources, capabilities, and technology. The capabilities analyzed in a gap analysis can include:
·         Processes
·         Functions
·         lines of business
·         organizational structures
·         staff competencies
·         knowledge and skills
·         training
·         facilities
·         locations
·         data and information
·         application systems
·         technology infrastructure

Question 5. Why is there a need to assess risks?
Answer: An organization needs to assess risks to understand the undesirable consequences of internal and external forces on the enterprise during a transition to, or once in, the future state. Assessing risks includes analyzing and managing them. Risks might be related to the current state, a desired future state, a change itself, a change strategy, or any tasks being performed by the enterprise. A risk assessment can include choosing to accept a risk if either the effort required to modify the risk or the level of risk outweighs the probable loss.

Comments

  1. Balpreet SinghFebruary 13, 2020 at 7:40 PM

    Defining a future state for a business is very important as it provides clear objective that an organization have to achieve in order to meet the business needs and gain success in business. A company that have achievable ,well defined and acceptable to stakeholders , future state , will never go to a wrong direction and lead towards a failure as their employees,stakeholders know what set of conditions they have to follow so that they will go well in long run.But makes sure future state must be realistic , achievable,well defined and more importantly acceptable to their stakeholders.

    ReplyDelete
  2. Kim LeFebruary 13, 2020 at 8:52 PM

    In business world, the strategy analysis is essential in strategic decision-making because this is one of the most beneficial way to achieve expected goals and objectives. During the period of a project, a business analyst should frequently conduct strategy analysis in order to evaluate changes, adjustment or new information unexpectedly happen. Among the four task of Strategy Analysis area: Analyze current state, define future state, assess risks and define change strategy should be treated equally and carefully executed. Through six core concept models in Strategy Analysis: change, need, solution, stakeholder, value, context, every concept has their own important focus. However, context in which business analysts are working is the most concern of business analysts when implementing strategy analysis. This is because the context is giving the business analysts the understanding of the change which they are usually face with.

    ReplyDelete
  3. Navdeep Kaur SranFebruary 18, 2020 at 12:21 PM

    In TD bank, strategy analysis happens to be of utmost importance as identifying the needs of customers is a must. So, with the help of strategy analysis TD evaluates the changes in the needs of its stakeholders to further modify the current strategies accordingly. Moreover, TD defines its future state to assist the decision making process regarding change in strategies. Apart from this, TD is also involved in risk assessment so that the bank can avoid unwanted circumstances that can disturb ongoing operations. Risk assessment is also a step taken to overcome the risk and succeed more.

    ReplyDelete

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