Business Essays
Strategic planning should be a straightforward process. It’s a tool to help you plan for future success. But it’s easy for planning to fail. We use strategic planning to reach a particular result in the most efficient method. But things don’t always go as planned. Why does the plan fail? Typically, because crucial elements aren’t […]
Business analysts provide solutions for stakeholders. They research problem areas within an organization. Then utilize techniques to reduce impact. But great business analysts? They take the basics and dive deeper. To become one of them, read on. 1. The Basics Are Covered… And Then Some Business analysts learn fundamental skills. They understand the importance of […]
Business processes are the system that allows companies to complete tasks, coordinate workflow, communicate effectively, and meet customer demands. Here are 5 pieces of information about the business process that companies need to know now. 1. Every Business Relies On Processes Think about the steps necessary to complete an order. Or to talk to a […]
Business models change. Technology advances. Objectives shift. These changes are critical to the foundation of an organization. You must be ready to update strategies and processes to benefit a growing company. That means keeping up on your strategic planning knowledge. Whether you’re a business analyst, stakeholder, entrepreneur or love understanding what makes or breaks a […]
Once you’re certified, the journey of becoming an accomplished business analysis starts in that moment. There are things to learn even before landing that first job — simple truths that are beneficial to know. Each one can affect how you solve organizational problems. Because an analyst’s job is about more than just data. 1. Goals […]
We often hear about two types of plans: a business plan and a marketing plan. A business plan comprises data about the company. It includes mission statements, goals, and how objectives will be met. While a marketing plan focuses primarily on outreach methods, budget, and target markets — often backed by data and analytics. Have […]
Occupation health and safety, or occupational health and safety is one of the most important things for a business to focus on. Ensuring that your employees and visitors to your office, worksite or venue are safe and protected from hazards is a hugely important thing and something that business owners cannot avoid. There is plenty […]
VRIO analysis is a tool in strategic planning, used by firms to make efficient business decisions. The analysis provides information and the results will hopefully provide a competitive advantage. What is VRIO analysis? VRIO is an internal analysis. It’s used to identify and evaluate resources in a company. Specifically answering the question, what competitive advantages […]
Businesses use strategic planning as a necessary tool for all decisions made. Deciding to launch a new product or to expand an internal team should be based on research. And that investigation comes from analysis. Resource analysis is another way firms understand an organization’s competencies and the value of resources. Considering resources are necessary for […]
An internal analysis highlights three factors: an organization’s competency, resources, and competitive advantage. Specifically, the study examines strengths and weaknesses, helping firms make smart decisions that promise business sustainability and profits. 1. Resources are necessary…but not all An internal analysis highlights several areas of interest to understand and prioritize benefits as a competitive advantage. Specifically, […]
Primary source analysis is exactly what it sounds like: an analysis of a primary source. You probably heard the term “primary source” often in school. It’s referred to as a first-hand experience or account of an event, person, or object. An audio recording of Martin Luther King Jr’s speech where he’s famously quoted saying “I […]
To launch a successful event, you must have intelligent planning and execution. The success of the event lies in the details. Although, when those details aren’t met, it can also become the event’s undoing. Well-executed events serve as great PR exposure for businesses. It is essential that the event that is being conducted is dynamic, […]
Simply put, market research is the study of consumer demands and desires. Every company needs customers — otherwise, they’re just running an expensive hobby. Which means, all companies should dedicate time to researching their market. Because if you don’t know why consumer buy products… why should they buy yours? Market research is crucial No matter […]
Billboards, flyers, and telemarketing are traditional outbound marketing strategies. Companies use these methods to send out a message about their products and await consumer interest. Traditional has become boring. And to stand out, small businesses are adopting a new method of outbound marketing. It’s called guerrilla marketing. What is guerrilla marketing? It’s unconventional marketing using […]
Market research is the study of consumers and the industry in which businesses are conducted. It’s included in business plans. It’s the reason why so many types of analysis exist. And it’s important because it helps make decisions that benefit the company. Market research helps strategic decision making Market research comprises several elements — all […]
All businesses should use a marketing plan. It is a document that outlines marketing tactics and opportunities. They usually specify: Business goals Timeframe Actionable steps Costs & expenses Don’t view a marketing plan as a linear document. It’s evolving and changing as the business grows. Tactics may be eliminated. Timelines may be extended. And the […]
The macro environment affects every business. It consists of many factors that, if left unchecked, can destroy a business. To reduce the effects of negative factors, you must first understand what macro environment analysis is and how to do it yourself. The Macro environment is everywhere A macro environment involves influences which affect the entire […]
Macro environments influence organizations. They are outside forces which can’t be controlled by individuals within a company. However, the macro environment affects how business is conducted. DESTEP analysis comprises significant external factors from the macro environment. It stands for demographic, economic, social, technological, ecological and political factors. A breakdown of DESTEP Each letter in DESTEP […]
Business analysts are in charge of continuous projects. The start of a new one can have even the most seasoned analyst sweating. After all, expectations shift, results are always necessary, and success is the primary objective. The business analysis process can help with new projects in fast-moving environments. While complexity of projects fluctuate, the right […]
Ever felt like your business could be doing more? Or there is a better way to complete tasks — but you’re not sure how or where to begin? Possibly you couldn’t sit down and go through processes, systems, and methods of the workflow. That’s expected — your expertise lies elsewhere. But there is someone who […]
Competitor analysis is a tool. It helps firms make accurate decisions based on research about competitors within the industry. It can be considered a guide to leverage advantages while maneuvering away from weaknesses. The following steps are required; it teaches you how to do competitor analysis correctly. 1. Create a list You can’t start the […]
We look to competitors to learn. While some are interested in copying tactics, specifically within marketing, others look to do the opposite. They use competitor analysis to understand what not to do. Because if we can prevent mistakes that will cost time, money, and resources — we will. And it’s best to look to giants […]
We discuss analyses plenty here — it’s in the website name, of course! We highlight many different types on a weekly basis. But what exactly is ‘analysis’? It starts with the definition. If you do a Google search akin to “define analysis”, you’ll most likely come across something like this: Analysis; detailed examination of the […]
Business analyst jobs are readily available in Canada. But there are better ways to find these positions rather than endlessly refreshing company career pages. Instead, check out these sites to find, apply, and land legitimate business analyst jobs in Canada. 1. Canada Indeed: Consistently Updated Indeed is an online portal, depicting employment opportunities from all […]
Businesses require change. Whether those changes involve assessing objectives, allocating resources, or drafting methods to reduce expenses. And when someone makes a change request, it opens up the possibilities of risks. The change request is reviewed by the right professionals (often a change control board). Then an impact analysis is next. Impact analysis can also […]
You want to become a business analyst, right? It’s a brilliant career that allows individuals with interest in the inner-workings of business to influence company decisions. If you enjoy: Addressing complications Devising accurate, data-driven processes Facilitating fundamental changes And influencing businesses positively… Becoming a business analyst might just be for you. Here’s how to do […]
Risks ruin projects. Because when left unchecked, they turn a successful project into a dead project. That’s expenses, cost, training and time burned away. We do risk analysis for two primary reasons: To eliminate them before they explode To create a plan of action to handle the explosion Qualitative Risk Analysis is an important method […]
Risk analysis identifies the probability and impact of obstacles in a project. For every project, use qualitative risk analysis to uncover individual risks. You can follow up with quantitative risk analysis which provides the overall risk of a project. But that’s only necessary for big projects with big expenses. To assess the risks and know […]
You’ve probably heard of the famous book, Business Analysis for Dummies. It breaks down the concept of business analysis for the average reader. But even that book can be broken down into easier concepts. We’re going to explain the need for business analysis, the role of a business analyst, and certifications when becoming a business […]
Market analysis refers to researching the dynamic of a particular market, including internal and external factors which can directly affect the market. Real estate requires plenty of market analysis, by both realtor and individuals selling or buying living spaces. Realtors use market analysis to help people find homes or apartments to rent. They compare the […]
