Analysis Techniques and Process - Chapter 2

This flashcard set covers strategic business analysis techniques, internal and external factors, SMART objectives, and types of performance analysis as detailed in Chapter 2.

Internal Factors

The analysis of current resources, policies, process, performance, and capabilities, involving the review of manpower, money, machinery, materials, and methods.

Policies

Guided principles used in accomplishing decisions and outcomes.

External Factors

Factors that lead to opportunities and threats, including political or government conditions, sociological norms, technology, economics, and legal laws.

Review of Performance

The classification of performance through a matrix to allow for appropriate actions during implementation, typically reviewed daily, weekly, monthly, quarterly, or yearly.

Dynamic Concept

Also called the 'Domino effect,' it refers to analyzing the correlation, significance, and effect of one variable on others.

SMART

An acronym for Specific, Measurable, Attainable, Realistic, and Time bound objectives used as an analysis platform.

Presentation

The reporting of both written and oral activity for the demonstration of results, exhibits, and the arrangement of proposed action plans.

Departmental or Division Presentation

A group meeting where findings and proposals are discussed for verification, brainstorming, enhancement, and approval or rejection.

Analysis Techniques

Structured methods and systematic frameworks used to evaluate business problems, identify opportunities, and support strategic decision-making.

Critical Analysis

A technique that examines arguments, evidence, and assumptions to evaluate strengths and weaknesses, challenge ideas, and uncover biases.

Creative Analysis

A technique that uses imagination and innovation to generate new solutions, perspectives, or unconventional strategies.

Diagnostic Analysis

A technique that examines past performance or incidents to determine root causes and identify factors contributing to particular outcomes.

Descriptive Analysis

A technique focused on explaining the current state of an organization, such as market share reporting.

Prediction Analysis

A technique focused on forecasting the future, such as demand forecasting.

Prescription Analysis

A technique that recommends specific actions, such as those for strategic investment decisions.

Quantitative Analysis

The use of numerical data, statistical techniques, and mathematical models to evaluate performance, such as cost-benefit or financial ratio analysis.

Qualitative Analysis

The evaluation of non-numerical information like opinions, perceptions, and behaviors, using tools like SWOT analysis, PESTLE analysis, or interviews.

Combination Analysis (Mixed-Methods Analysis)

The simultaneous use of both qualitative and quantitative analysis, such as combining a numerical customer survey with in-depth interviews.