Strategic Analysis of Agency Model †Free Samples to Students

Question: Discuss about the Strategic Analysis of Agency Model. Answer: Introduction The assignment deals with understanding the role of a business analyst. The role of a business analyst is to analyse the domain and the organisation in which work takes place. It documents the business and relates it to technology. The following assignment analyses the role of an analyst in core knowledge areas. The areas of focus include analysis planning, collaboration expectancy life cycle, strategic analysis and evaluation of solution. These areas develop the essentials of a business and allow it to maintain its competitiveness in the market. For the purpose of the assignment, a case study on Integrated Library System (ILS) is considered. It is equivalent to an enterprise resource planning system. The case study focuses on the migration of one library system to a new domain. The combination of a vendor-supported and customised system was done along with the original system of the library. Certain discrepancies were seen in the new system that led to the customization of the syste m. Every business needs to be analyzed based on certain factors that contribute to the success or failure of the business. These factors can be both external as well internal. These factors are important as based on it managers can formulate strategies that can help in the growth of business (Eva et al. 2014). The essential knowledge area for the business analysis is laying the foundations for proper planning, defining and completion of business analysis. Such an action is the responsibility of a project manager. This also includes the monitoring of the activities to ensure that every threat is taken care with the utmost significance. According to Fleisher and Bensoussan (2015), the monitoring of the analysis is done in order to understand the ways by which the work is being conducted. The monitoring is done after the planning and implementation of the strategies. The strategic approach helps in the proper analysis of the strategies and identifies any changes that are needed for the business. The monitoring of activities ensures that the plans are properly executed and the outcomes of these plans provide the desired results for the people. Hence, it can be said that in the case of ILS, the business analysis that is required is the proper identification and evaluation of the new model (Zott and Amit 2013). The acquisition module of the new ILS model needs to be either modified or replaced depending upon the ways it is adopted by the company. In order to do so, it is required that the managers monitor the technique carefully. However, replacing the acquisition module also needs proper analysis and monitoring so that a similar mistake is not repeated. Elicitation and Collaboration According to Bargiela-Chiappini and Nickerson (2014), business elicitation is the process by which managers gather requirements for the success of an organisation. The requirements can be collected from the customers, employees as well as the stakeholders. These requirements are essential in order to understand the ways by which business can be conducted by implementing required changes in the organisation. The requirements under the elicitation technique include analysing documents, conducting interviews, observation, process modelling as well as workshops. The feedback of the customers is collected via survey method in the form of a questionnaire that helps an organisation to understand the viewpoints of the target markets. In this regard, it can be said that collaboration is an important factor for any business (Gmelin and Seuring 2014). This is mainly because of the fact that the collaboration with the stakeholders helps in maintaining the strategies of the business. The ideas of the stakeholders prove effective in the success of a business. In the case of ILS, the libraries need to gather requirements to maintain the process of providing books to the customers. However, the main problem lies in the bar coding of the books. These bar coding can be done by process modelling in order to maintain stability in the identification of the number of books. The gathering of requirements needs to be done in such a way that there remains less pressure on the employees in terms of maintaining records. In this regard, the collaboration is also required in order to maintain the requirements of the stakeholders (Konat, Sahraoui and Kolfschoten 2014). This can be done by engaging stakeholders in the decision-making process that can help in the smooth functioning of the bar coding system. Requirements Life Cycle Management Holzbaur, Ross and Rothrock (2016) stated that analysing the life cycle of a product is important for success. This is done in order to predict the possible success rate of a product. A product goes through four stages that determine its level of longevity in the market. Similarly, in the case of requirements of a business organisation, the four stages exist that determine the longevity of a particular strategy. At the initial stage when the requirement is introduced in the business, employees begin to doubt its validity. However, with time the requirement reaches a growth stage that sets about in the implication of the tactics for the organisational benefit. During the maturity stage, the requirements reach its full potential and ensure that organisational success is attained every time with the application of the requirement. However, with time the requirement declines and new requirements are introduced. This is done in order to change the ways by which an organisation functions. The requirements life cycle needs to be managed to keep in mind the excessive use of a similar technique (Wolf et al. 2013). This is because rival companies can understand the techniques and formulate counter measures to gain an advantage. In the case of ILS, the requirements life cycle needs to be formulated in terms of books. Customers change the tastes of preferences depending upon the best sellers that are brought in the market. Hence, the requirement life cycle of one particular book can have a limited longevity. Due to this, the library needs to change its requirements every time keeping in mind the requirements of the customers. Hence, the life cycle can be managed effectively for the formulation of new strategies. Strategy Analysis In order to succeed in a business, every manager needs to ensure that proper strategy is maintained. The strategies depend upon certain factors that help in the development of a business. Resources are required in order to formulate a strong strategy that helps in the success of the business in a long run. Jenkins and Williamson (2015) stated that strategic analysis is referred to as the SWOT analysis. SWOT analysis is done in order to understand the internal factors that affect an organisation. With the help of SWOT analysis, an organisation can formulate relevant strategies that can define the competition it faces and focus on the environments in which the operations take place. In this regard, the strengths of an organisation can be used to formulate strategies that can convert the threats and weaknesses to opportunities. The SWOT analysis is an important and effective tool for gaining a competitive advantage over the rivals (Tan and Carrillo 2017). In the light of this statement, it can be said that ILS also need to conduct a SWOT analysis that can help it to formulate strategies based on the factors. These factors are essential in order to understand the essential factors that help in the analysis of the organisation. It can be seen that the strength of the library is the fact that it uses a vendor-supported and customised system. This is essential in order to formulate a strategy that can help in the success of the library. However, the weakness can be considered as the use of the new acquisition model. This is because time is required in order to bar code the number of books in an efficient manner (Rieu, Santorum and Movahedian 2017). Hence, strategies need to be formulated to convert this weakness into strength and create opportunities for improvement. Requirements Analysis and Design Definition The requirements analysis portrays the task that a business formulates in order to define the role of a business analyst. According to Hill Jones and Schilling (2014), the role of a business analyst is to structure and organise the requirements that are needed in order to form a competitive advantage. These requirements are identified during the elicitation process that formulates in the controlling of activities within an organisation. In the case of the use of any specific types of equipment or models, the requirements determine the design that is required for the proper usage of the equipment. Tao et al. (2016) stated that the verification is done based on the validity of information and the identification of proper solutions required for the development of an organisation. This helps in maintaining the goals of an organisation and likewise develops ways to improve the current position. As stated by Sharda, Delen and Turban (2013) the features of the requirements need to be releva nt and detailed so that problems are not faced in the future. In the case of ILS, the organisation needs to keep in mind the ineffective and the stressful nature of the acquisition model. It has already been evidenced that the new model is time-consuming and is not possible for one particular person to keep individual records of the books. Hence, it is essential for the managers to find out an easier method for the success of the business. The biggest flaw conducted by the manager is the fact that the equipment was not tested by the organisation. Hence, this led to the failure of the model and the proper application of the technology in the workplace. Solution Evaluation According to Krolzig (2013), in order to manage the operations of a business, the evaluation of solutions is an important factor. Solution evolution is considered as the assessment of existing and possible results that can be derived before a business is taken into operation. Internal, as well as external perspectives, are involved in order to understand the possibility of success of a business. In this context, it can be said that the perception varies depending upon the type of business that is being considered. Solutions of both these perspectives are referred to as business requirements. These solutions are generally derived from the feedback form of the customers as well as the employees working within an organisation. In this regard, the documentation of business requirements is needed in order to come up with a proper solution. Hence, according to Kim, Kara and Kayis (2014), it can be said that the evaluation of solutions can be faced with challenges that may hamper the growth of an organisation. A similar context can be established in the case of ILS. The organisation needs to maintain effective solution evaluation techniques in order to establish an easy business model. It is essential that the library facilities develop plans for the bar coding of books before implementing it in the organisation. This can help in gaining the required success for the formulation of strategies. Hence, in order to implement the acquisition model successfully, it is essential for ILS to make constant progress in the requirements of the organisation. Conclusion Thus, it can be concluded that in order to maintain a proper business, the role of a business analyst is important. An analyst needs to procure methods by which a business can be made successful. This can help in the proper formulation of strategies and help in the identification of opportunities for the business. The use of strategic analysis is an essential element for the identification of internal strengths and weaknesses. These strengths and weaknesses can be used to create opportunities for the business. In the case of ILS, the library facility needs to analyse the acquisition model thoroughly in order to develop a comprehensive use of the modern technology. 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