Who is a business analyst and how it helps companies stay one step ahead
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NIZHNEGORODSK STATE LINGUISTIC UNIVERSITY NAMED AFTER N. DOBROLYUBOVA
Department of Economics and Management
in the discipline "Enterprise Economics"
BUSINESS PLANNING IN AN ENTERPRISE (ORGANIZATION, FIRM): THE ROLE AND FEATURES OF DEVELOPMENT
1. Theoretical foundations of planning the financial and economic activities of enterprises in modern conditions 6
1. The role of planning in the financial and economic activities of enterprises 6
1. The concept of a business plan, its scope and development conditions 11
List of used literature 32
In the current market economy, the success of a company is largely determined by how professionally the management approaches the choice of strategy and tactics of its conduct, that is, how competently it implements the process of planning economic activities. Entrepreneurs cannot achieve stable success if they do not clearly and effectively plan their activities, constantly collect and accumulate information, both about the state of target markets, the position of competitors in them, and about their own prospects and opportunities.
“When you not only see, but also understand your business, you feel that you can conquer the world,” says Anna Guskova, a teacher of the Business Analyst course at Netology, about business analysis. And so it is: business analysts research, calculate, plan and structure - they do almost everything from project launch to business optimization.
We invite you to get to know this profession better, learn about the tasks of a business analyst, his role in the company and income. Konstantin Bolshukhin, a partner of the advanced analytics studio Modelta and a teacher of the "Business Analyst" course, helped to understand the topic.
The role of a business analyst in the company
A business analyst in the classical sense is an economist who understands processes, economics, finance, organizational development and helps a company solve strategic problems. For example, to optimize business processes, develop a development strategy or launch a new business in another country.
Depending on the needs of the company, the scope and description of the analyst's tasks may vary significantly.
And analysts are different:
- business analyst ,
- systems analyst,
- Data Scientist,
- marketing analyst,
- financial analyst,
- product analyst.
Accordingly, these specialists have a different set of skills and tools.
Data Scientists and System Analysts are stronger in programming, better versed in BI tools, data storage and processing organization.
Marketing analysts work with BI, optimize marketing campaigns, sales economics.
Financial analysts understand financial instruments, investments, loans and borrowings, financing conditions.
Product analysts have a better understanding of product-specific metrics and tools for analyzing product performance.
Finally, business analysts dive into process building, economics, finance, research. They work with BI and reporting, visualize data.
Business Analysis Planning and Monitoring Knowledge Area organizes and coordinates the efforts of business analysts and stakeholders. The results of the tasks from this Knowledge Area are used as key principles for other tasks throughout the BABOK Guide.
This area of expertise includes the following tasks:
- Business Analysis Planning Approach: describes the planning of analytical work starting with the creation or selection of a planning methodology for individual activities, tasks and results.
- Stakeholder Engagement Planning: Describes which stakeholders are relevant to the change, what business analysts need from them and what they need from business analysts, and describes the most effective ways to collaborate.
- Business Intelligence Management Planning: Identifies the BI components that are used to support management functions in an organization. This ensures that the correct, consistent decisions are made and a process is followed that provides decision makers with the information they need. Examples include requirements management, business analysis risk management, and business analysis resource allocation.
- Information Management Planning: Determines how information developed by business analysts (including requirements and design) is collected, stored and integrated with other information for future use.
- Identifying Business Analysis Performance Opportunities: Describes how analytic work is managed and monitored to ensure commitments are met, continuous learning is implemented, and opportunities for improvement are seized.
Central Conceptual Model for Planning and Monitoring Business Analysis
The Business Analysis Central Conceptual Model (BACCM) describes the relationship of six key concepts. The following table describes the use and application of each of the key concepts in the context of planning and monitoring business analysis. Table "Central Conceptual Model for Planning and Monitoring Business Analysis"
Key Concepts While planning and monitoring business analysis, analytics ... Change: transformation activities in response to a need will be responsible for determining what changes will be proposed and approved as a result of business analysis. Solution: A specific way to meet one or more needs in the same context is evaluated if the effectiveness of business analysis was a key factor in the successful implementation of the solution. Stakeholders: One or more people involved with the change, need, or solution perform stakeholder analysis to ensure planning and control of activities, reflect stakeholder needs and take into account their characteristics Values: value, importance, or usefulness of something to stakeholders within the context Conduct the analysis the effectiveness of the business analysis performed to continue to produce sufficient value for stakeholders Context: the circumstances that influence or are influenced by the change, and the circumstances that provide an understanding of the changes, provide a thorough understanding of the context of the analysis to develop an effective business analysis approach. p>
The goal of planning a business analysis approach is to determine the appropriate method for conducting business analysis.
Business Analysis Approaches describe the general method that will be used to carry out analytical work on this initiative; how and when tasks will be completed; results. Also, the business analyst can determine the starting set of techniques to be used. They can change as the project moves forward and the business analyst gains a deeper understanding of the change and stakeholders. The business analysis approach can be defined by methodology or company standards. In some companies, the business analysis approach can be standardized and formalized as business analysis processes that can be repeated later. Even where a standard approach exists, it can be tailored to the needs of a particular initiative. Adaptation can be governed by standards that define acceptable approaches, elements of processes that can be adapted, and provide general guidelines for choosing a process. If there are no company standards, the business analyst works with stakeholders to determine how the work will get done. For example, if the change is the result of a project, the standards and approach can be developed during the design phase.
A business analysis approach should:
- align with the overall goals of change,
- coordinate the business analysis tasks with the activities and results of the overall change,
- include tasks to manage any risks that could reduce the expected quality of business analysis or hinder the effectiveness of task execution, and
- effectively use approaches and select methods and tools that have proven themselves well.