Principle 2: The Right Knowledge Building a Business Analysis knowledge foundation with every opportunity you find would stand you in good stead. You would have heard the saying that ‘knowledge is power’, this is also very true in your role as a business analyst. Always learn and be a sponge for more information and you will be surprised how far that takes you.
Business Analysis Career Progression Options - this picture illustrates alternative career path options for Business Analysts who are wondering on what's next for them to do on the corporate career ladder!
Stakeholder Levels of Interest & Power - This diagram/graph is used to plot each stakeholder on your list to determine their interest in the project or their power to make the project a success. This graph will help you decide how to engage each stakeholder depending on where they are place on this graph!
Michael Portal, professor at Harvard Business School, proposed in his book Competitive Strategy, a means of analyzing the competitive forces within an industry. This approach examines the five competitive forces that determine the key competitive factors that apply to an industry within which an organization operates.
PESTLE Analysis aims to gain an appreciation of the external environment within which the organization operates. Political: the governmental influences on the business environment, for example government policy and regulations. Economic: the aspects within the economy that have an impact of the organization and the markets it targets. Legal: the regulatory and legal changes likely to affect the industry. Environmental: the ‘green’ issues that may impact on the industry or organization.