BCS Practitioner Certificate in Business Analysis - 1

?
  • Created by: GM2022
  • Created on: 29-12-22 09:58
What is a Vision statement as part of VMOST?
A statement defining the ideal state of an organisation to provide clarity on the purpose and reason for existing. No regard for HOW this will be achieved.
1 of 21
What is Mission as part of VMOST? What can it assist with?
Describes what the organisation does or will do to achieve the target state. Can assist with current and future planning.
2 of 21
Vision & mission within VMOST are used to do what?
To inform project objectives and strategy
3 of 21
What are two suitable techniques to analyse the internal environment of an organisation?
VMOST (vision, mission, objectives, strategy, tactics) and a resource audit
4 of 21
What are the components of VMOST and what is it used to do?
Vision, mission, objectives, strategy, tactics. Used to analyse the internal environment of an organisation.
5 of 21
What are Objectives as part of VMOST?
Specific outcomes an organisation wants to achieve. Guide and measure progress towards vision and mission completion
6 of 21
What are Tactics as part of VMOST?
Specific and detailed way the strategy will be executed. Often adapted when feedback on the strategy success is received.
7 of 21
What five resource types are included in a resource audit?
Physical, financial, human, know-how and reputation
8 of 21
How is a resource audit completed?
Analyse whether each resource type is a strength or weakness to the organisation.
9 of 21
What are two suitable techniques to analyse the external environment of an organisation?
PESTLE (political, economic, socio-cultural, technological, legal & environmental) and Porter's Five Forces (threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, industry competitors.
10 of 21
What are the components of PESTLE and what is it used to do?
Political, economic, socio-cultural, technological, legal, environmental - to analyse the external environment of an organisation
11 of 21
What are the components of Porter's Five Forces model and what is it used to do?
Threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, industry competitors - to analyse the opportunities and threats to a organisation
12 of 21
What is used to analyse both the internal and external environment of an organisation?
SWOT analysis (strenth, weakness, opportunity, threat) in a matrix
13 of 21
What are the sources of SWOT analysis
Strengths and weaknesses are internal - VMOST & resource audit, opportunities and threats are external - PESTLE and Porters 5 forces
14 of 21
What are performance measurement tools used for?
To establish an organisations performance in its current state against objectives and strategy
15 of 21
What are four examples of performance measurement tools?
BCS - balanced scorecard, CSFs - critical success factors, KPIs - key performance indicators
16 of 21
What are the four parts of a BCS (balanced scorecard)
Financial, internal business process, learning and growth, customer
17 of 21
What are CSFs and what their ideal 'positioning'
Critical success factor - qualitative description for what is required to achieve an objective. Balanced across BCS and align to vision and mission of the organisation.
18 of 21
What are KPIs and what their relationship to CSFs?
Key performance indicator - quantitative (SMART) measure to track CSFs. Can have more than one per CSF or the same KPI for multiple CSFs.
19 of 21
What are targets and what do they measure?
Specific and provide an objective performance measure for objectives or KPIs
20 of 21
What is Strategy as part of VMOST?
Long term approach taken by the organisation to achieve the vision, mission and objectives.
21 of 21

Other cards in this set

Card 2

Front

What is Mission as part of VMOST? What can it assist with?

Back

Describes what the organisation does or will do to achieve the target state. Can assist with current and future planning.

Card 3

Front

Vision & mission within VMOST are used to do what?

Back

Preview of the front of card 3

Card 4

Front

What are two suitable techniques to analyse the internal environment of an organisation?

Back

Preview of the front of card 4

Card 5

Front

What are the components of VMOST and what is it used to do?

Back

Preview of the front of card 5
View more cards

Comments

Kenna7

Report

I like this term. It is a new term. I can learn a lot of new words. Appreciate you so much. You can join color tunnel to get a new experience. 

Otted2002

Report

Thanks for your fnaf games sharing!

Similar Business Studies resources:

eb
See all Business Studies resources »See all Strategic Context for Business Analysis resources »