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The Better Business Analysis 
Institute. 

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Presence, the Better Business 
analysis Podcast with. 

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Hi everybody. 
This is Ben from the Better 

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Business Analysis podcast and 
today we are going to be talking

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about strategy. 
I'm going to start this episode 

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by thanking all of you out there
who have taken time to listen to

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the podcast. 
I think we've hit 2000. 

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Listen so far and with a decent 
bunch of you who subscribe and 

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listen every week. 
So look, shout out to you people

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for firstly you know following, 
but secondly just making an 

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effort to improve yourselves and
learn a bit more about business 

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analysis, so you know pat 
yourselves on the back because 

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that's what it's all about. 
OK. 

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So this week we're going to talk
about strategy. 

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This is completely if we. 
Drop down to data which is kind 

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of the lowest level if you like 
on the spectrum in terms of 

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business analysis we. 
Dropped all the way down to data

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last week and this. 
We're going all the way back up.

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So I'm trying to as you can. 
See be quite broad in terms of 

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the. 
Topics we cover and some are 

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going to resonate with you. 
More than others and that's OK. 

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And that's that's the point. 
So if you. 

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If you see a topic and you think
probably not for me, then I can 

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understand if you're not going 
to listen to that fully. 

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But equally I think that it 
shows you that business analysis

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should span quite. 
A distance in terms of depth and

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also worth, so yes. 
Today it's going to be the 

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complete flip side of data. 
However, the reason why this is 

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quite a good. 
Topic to follow data is that 

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data is getting. 
Closer to strategy, so. 

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Data is starting to. 
Actually inform strategy. 

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Not through committees, not 
through. 

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Crystal Reports spreadsheet or a
Power BI dashboard that you know

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that Samantha and Level 3 and 
the management team tells her 

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manager about and then it might 
get to the SLT or the executive 

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members who then make a 
decision. 

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So data is is getting. 
Position where it actually is 

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starting to be, if you like 
intelligent business 

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intelligence what we talked 
about years ago is actually 

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starting to to really come to 
fruition for those companies 

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that are bigger and where the 
data team is miles away from the

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executive team, which is I see 
it. 

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More often than not. 
OK, so strategy, what is 

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strategy? 
Under in the Better Business 

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Analysis Framework. 
Strategy. 

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If you're looking for where this
fits, there are. 

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Obviously Skills, you. 
Need to engage with strategic 

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leaders like leadership and 
actually all good, soft and 

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hard. 
Skills we talk about. 

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You do need to be able to 
communicate. 

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In a certain way to management, 
and it's usually in summary 

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form. 
So that's, you know there's some

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there's some fundamental skills 
that you that you need then in 

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the. 
Delivery journey, we're really 

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talking about strategic and 
enterprise. 

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Analysis here. 
So even though we say strategic 

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looking out strategies, the link
between the organization, what 

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what they see strategically in 
the market and and how they're 

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going to flip that and look down
to the organization which is 

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actually called enterprise 
analysis. 

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And then further down we talk 
about some of the approaches and

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techniques or techniques and 
approaches. 

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There are some very. 
Good strategic templates and 

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approaches that we. 
Steal from the world of business

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so. 
These are templates that you if 

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you've started. 
Doing BA, which I hop on about 

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and I know a few of you. 
Are doing your MB A? 

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I have good then these are 
templates that you may have 

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come. 
They I would say that more often

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than not, one out of every 5B 
A's I meet know about this 

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topic. 
So there is a huge. 

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Portion if you like the other 
80% that. 

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Are not really aware that this 
is how. 

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Projects are put together. 
Or how strategies put together, 

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so I thought it would be really.
Important and relevant and it 

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actually do you know what it 
would help? 

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Me personally, know that you've 
become a better BA because 

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you've actually thought about 
how your piece of work fits into

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the strategy of your 
organization, your business, 

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even into your community or your
market. 

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OK, so without further ado, 
let's get started. 

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This week and and we're going to
be talking about strategy. 

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So what do we talk? 
About when we talk about 

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strategy, what is it? 
So strategy in the simplest 

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terms is a plan of action 
designed to achieve a long term 

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or overall aim. 
OK. 

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So in terms of business or 
organizations, it is the plan to

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achieve goals and so the? 
In the BA world, the way in 

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which we talk about those goals 
as we talk about them in terms 

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of strategic objectives and 
that's a really important term 

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there. 
So strategic objectives. 

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Are the long term. 
Goals that your organization has

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planned. 
To do. 

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And so on the work walk down 
from those. 

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Strategic objectives to. 
Show how they fit into some of 

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the methods, tools and 
techniques, and process steps 

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along the way for a BA, and then
we'll work. 

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Back up to how do those 
strategic objectives come about?

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So if you go down and let's just
say. 

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I know we haven't defined what 
they are yet. 

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But we have. 
Strategic objectives. 

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They are smart objectives. 
You know, go onto our blog if 

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you're not sure what SMART 
stands for. 

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It's an. 
It's an acronym. 

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And so they are measurable 
objectives, if you like, which 

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are defined to achieve A goal a 
very. 

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Clear. 
Goal by a certain time frame and

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they can be measured and so that
might be things like increasing 

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customer engagement by 20% by 
implementing new web channels 

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including a new website at by 
the end of 2026. 

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So these are the kind of usually
they're written as these kind of

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outcomes, they're like. 
Build a new website and with a 

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little bit. 
Of finesse or be a. 

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Helping you along the way, you 
can turn them into what we call 

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smart objectives and these are 
strategic objectives and you'll 

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see these, the executive team 
will will include these in their

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strategic plan, sometimes known 
as their five year plan and 

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these will be communicated, they
will communicate and agree these

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with. 
Their. 

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Or whoever is the controlling 
interest of the organization and

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that you know, helps them reach 
their financial targets, also 

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growth targets, whatever the 
other targets are in terms of 

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what they're trying to achieve 
in terms of the organization and

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its current. 
In its current form, I've been 

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involved both helping executive 
teams put together strategic 

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objectives. 
I've obviously been a BA who's 

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taken strategic objectives and 
implemented them as part of a 

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program of work. 
But I've also actually been on 

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an exact presented objectives. 
To to a board and gone through 

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that process. 
So I'm gonna show you those 

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different perspectives, how they
come about, how they are, how 

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they are formed, and then how 
they are used. 

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And then more importantly, how 
do we then use those later? 

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What are we using these later? 
For are we and that will. 

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Feed us into the world of 
benefits realization. 

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You probably have heard that 
term also done notoriously badly

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by everyone. 
But, but from the executive 

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point of view, strategic 
objectives are what they've said

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they're going to achieve and 
strategies do evolve. 

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But ultimately that will measure
whether or not the company's on 

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track and the that will have 
usually have. 

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Implications to the strategy? 
Team as well as the executive 

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team and that they will, it will
be their measure of how well 

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they're managing the company. 
So that's quite important as 

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well Okay. 
So that gives you just an idea 

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about what these. 
Things are now let's talk about 

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where where they come about. 
What it what? 

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How do you even? 
How do you even do this thing 

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called strategy and that starts 
all the way back? 

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To what is the point? 
Of the. 

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Organization that you're 
working. 

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For what is its purpose? 
So every company has a purpose 

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and they have. 
They define that purpose and in 

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terms of its. 
So they might have a mission 

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statement and the mission which 
is sometimes defined as their 

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purpose. 
Is to do. 

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Something and they become a 
little bit fluffier. 

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As the company evolves and 
becomes bigger, but we'll take 

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some really basic we'll just 
make it take a basic example of 

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a of a mechanic for example, 
which I always like to use an 

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example in the real world, but 
also something simple for us to 

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understand and mechanics mission
statement might be to provide 

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the the most cost effective as 
quality service in the lower 

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heart region for example, that 
might. 

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You know, mechanical services in
the lower heart region, that 

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might be the admission 
statement. 

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So that could be, I don't know. 
They'll have a slogan behind it,

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which is no one bids our quality
and price, and it could be 

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Mike's Mechanical Store and so 
this. 

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There, they've got a very, they 
know what their brand is. 

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This is all linked up with brand
by the way. 

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They know what their brand is, 
they know what their mission is.

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They want to be cost effective. 
So they're going to be very lean

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and they suggest options to 
customers that give them a 

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choice so they can feel like 
they're saving and they actually

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are and they're going to provide
quality. 

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So their strategic positioning 
there? 

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Is that they're meeting where 
cost and quality meets. 

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So they obviously wanna have 
high quality and high cost. 

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It's very sorry, low cost, very 
difficult. 

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But they've decided their sweet 
spot is somewhere in the middle 

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there. 
So they're not the cheapest and 

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they're not the. 
This quality, but they're where 

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cost and quality meet and that 
might be attractive to the 

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market in lower Hut for example.
And so that is that's their 

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sweet position and they 
advertise around those two 

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points and they create a brand 
around those two points and 

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maybe their logo points to those
things it has representatives 

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like representations of. 
Someone getting value for money,

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like a dollar sign for example 
for example, and then a quality 

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sign with maybe a tick. 
So it's like a dollar and a tick

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logo and this is how you know 
you start. 

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To. 
Give briefs to marketing. 

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Companies who start to develop 
your logo and your mission. 

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And you know that could be a 
slogan, so but, but in terms of 

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we. 
Just come back to that mission 

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statement which is to. 
The most cost effective and 

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quality service in lower heart 
region for mechanical repairs 

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for example, that is the mission
statement and that mission 

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statement, an important thing 
around that mission statement 

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even though we've gone. 
All the way. 

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To, you know, how do you define 
a business that doesn't change 

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so that that is the essence of 
existence? 

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And so if that was going to 
change, then the business model 

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fundamentally may. 
Or that what we call. 

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Pivoted. 
You've heard this word quite a 

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lot, where you pivot and you 
make a change to mission. 

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So that doesn't happen often at 
all. 

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Especially for established 
businesses, it happens often for

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startup, but once you've got 
your sweet spot. 

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What we call your. 
Customer your your kind of 

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customer market fit. 
And you've, you know, you're 

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starting to generate income and 
the markets responding. 

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The mission of your company very
rarely really changes, and 

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that's something fundamentally 
changes, like you start to 

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acquire the mechanic. 
Store acquires a car lot. 

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And then they might change their
mission around providing they 

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might decide that they're all 
about cost effective in quality.

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And so that might expand to 
include. 

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Cars. 
Or they could change completely 

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change their mission because 
they've changed their business 

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model. 
So just I guess. 

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What you need to take away from 
that is that the mission 

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statement of the company does 
not change often. 

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That's its essence. 
And without like a major, major,

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major, significant event. 
Or something that happens in 

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response to the market. 
Aka, they're not making any 

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money. 
They need to pivot. 

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The mission of the company 
remains solid and even 

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throughout that turmoil. 
You'll find that bigger 

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companies, you know, the Apple 
Microsoft's their mission 

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statements don't generally 
change that often unless they're

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changing their it's very, very 
much associated with their 

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brand, their essence and 
purpose. 

235
00:13:46,610 --> 00:13:47,930
Of. 
Existence. 

236
00:13:48,490 --> 00:13:52,330
OK, so for Mike's mechanics 
store or? 

237
00:13:52,690 --> 00:13:56,890
In mechanical repair center if 
you like, they have, they've 

238
00:13:56,890 --> 00:14:00,010
defined that so that that that's
in stone. 

239
00:14:01,530 --> 00:14:05,810
Now the now we think about how 
we execute on our mission and 

240
00:14:05,810 --> 00:14:08,090
how, you know, what are our 
goals and these. 

241
00:14:08,090 --> 00:14:11,970
Goals for a company when they're
sitting around deciding with. 

242
00:14:12,010 --> 00:14:17,050
Owner with the with the board if
they're bigger is what am I 

243
00:14:17,050 --> 00:14:19,210
trying to achieve. 
What does success look like for 

244
00:14:19,210 --> 00:14:23,650
me? 
And success would be defined 

245
00:14:23,650 --> 00:14:25,890
probably. 
Financially that you're making X

246
00:14:25,890 --> 00:14:29,000
amount of dollars. 
It's, it's usually talked about 

247
00:14:29,000 --> 00:14:34,040
sometimes in terms of a word we 
call margin and so margin is how

248
00:14:34,040 --> 00:14:36,080
much. 
So if you take away how much 

249
00:14:36,080 --> 00:14:39,640
money you're generating, so 
that's revenue and you get rid 

250
00:14:39,640 --> 00:14:45,040
of your. 
Costs margin is how much the 

251
00:14:45,040 --> 00:14:47,920
difference effectively the. 
Difference there we we can turn 

252
00:14:47,920 --> 00:14:51,240
it, we can call it that word is 
actually profit. 

253
00:14:51,860 --> 00:14:54,500
But in terms of margins, how 
much you're adding on to your 

254
00:14:54,500 --> 00:14:57,780
cost base in order to generate a
profit? 

255
00:14:58,020 --> 00:15:01,700
So your cost might be X and then
you add 20% and that's your 

256
00:15:01,700 --> 00:15:03,660
margin. 
So margins usually talked about 

257
00:15:03,660 --> 00:15:04,700
in terms. 
Of percentage. 

258
00:15:05,020 --> 00:15:08,060
And you need to make, you know, 
a decent amount of margin. 

259
00:15:08,060 --> 00:15:11,620
A lot of shops. 
Like if you say homeware stores 

260
00:15:11,620 --> 00:15:13,980
for example. 
Some of the margins, so how much

261
00:15:13,980 --> 00:15:17,980
they pay for each individual 
item, can be marked up somewhere

262
00:15:17,980 --> 00:15:22,420
between 100 and 200%, so that 
gives you an example and that's.

263
00:15:23,460 --> 00:15:26,740
When we talk about margin, which
is one of these businessy words,

264
00:15:27,300 --> 00:15:30,020
it's really important to 
understand the context in which 

265
00:15:30,020 --> 00:15:32,260
you operate. 
So a home wear store where 

266
00:15:32,260 --> 00:15:34,820
you're walking. 
In they don't sell. 

267
00:15:35,060 --> 00:15:37,860
That much of some of the items 
in the store. 

268
00:15:37,860 --> 00:15:40,220
So they they've got some items 
that sell really well. 

269
00:15:40,340 --> 00:15:43,820
And they'll probably have lower 
margin, lower cost items and 

270
00:15:43,820 --> 00:15:46,420
then they'll have other items 
and they're like, I don't know, 

271
00:15:46,420 --> 00:15:48,980
statues or whatever. 
And they they have marked those 

272
00:15:48,980 --> 00:15:53,100
up 100 to 200 percent generally 
in order to make profit unless 

273
00:15:53,100 --> 00:15:55,940
they're. 
A very inefficient organization 

274
00:15:56,740 --> 00:16:00,380
organization like or a franchise
like Bed Bath and Beyond, which 

275
00:16:00,380 --> 00:16:02,620
is actually having financial 
problems at the moment where 

276
00:16:02,620 --> 00:16:05,940
their margins might be might be 
less So they're about having 

277
00:16:05,940 --> 00:16:10,620
more people volume we we call it
and then lower margins and 

278
00:16:10,860 --> 00:16:15,380
volume and margins are two very 
important words in business and 

279
00:16:15,380 --> 00:16:16,980
they are talked about quite a 
lot. 

280
00:16:17,380 --> 00:16:20,860
In terms of your strategy and 
the reason why margins and 

281
00:16:20,860 --> 00:16:23,740
volumes are two words that you 
should understand is you can 

282
00:16:23,740 --> 00:16:26,260
apply that to any kind of 
business. 

283
00:16:26,500 --> 00:16:29,500
So where they are Mike's 
mechanics, the volume would be 

284
00:16:29,500 --> 00:16:31,380
the amount of cars they're 
servicing. 

285
00:16:31,380 --> 00:16:33,980
So the amount of customers and 
therefore cars that they're 

286
00:16:33,980 --> 00:16:37,820
servicing, thinking about that 
and main, they could have a 

287
00:16:37,820 --> 00:16:39,460
commercial contract, so it could
be. 

288
00:16:39,500 --> 00:16:43,380
One commercial contract that 
they've got. 

289
00:16:43,380 --> 00:16:46,180
Which could be sending all. 
Of their vehicles through, so I 

290
00:16:46,180 --> 00:16:49,340
think they would measure. 
The volume through the number of

291
00:16:49,340 --> 00:16:53,460
cars that they've serviced as 
opposed to customers and then 

292
00:16:53,460 --> 00:16:57,580
the margin would be, well, OK, 
I've paid my staff, let's say 

293
00:16:57,580 --> 00:17:02,380
I've got Mike myself and you 
know and I need to be able to 

294
00:17:02,380 --> 00:17:04,660
make my wage. 
So if I minus my wage. 

295
00:17:04,940 --> 00:17:09,099
The cost of. 
The items I've used to repair 

296
00:17:09,099 --> 00:17:13,619
the car so the hours spent. 
Then I then I add a margin and 

297
00:17:13,619 --> 00:17:15,300
and you can measure and say 
well. 

298
00:17:15,609 --> 00:17:21,849
Just simply in a in a in terms 
of business I might mark up 50%.

299
00:17:21,849 --> 00:17:25,170
So every part we buy we add 50% 
margin to that. 

300
00:17:25,530 --> 00:17:30,010
And then my labor, you know the 
the cost of running me plus the.

301
00:17:32,210 --> 00:17:36,010
You know my wages plus 50%. 
We know that if we mark the 

302
00:17:36,010 --> 00:17:41,410
parts up 50% and my wage up 50%,
we will cover not only the cost 

303
00:17:41,490 --> 00:17:47,410
of running this shop like 
electricity, ACC, all the other 

304
00:17:47,410 --> 00:17:49,130
bits and pieces and then we 
walk. 

305
00:17:49,130 --> 00:17:51,810
Away with a profit margin of 
maybe 10%. 

306
00:17:52,010 --> 00:17:54,370
So that means that how much 
money I'm actually making off 

307
00:17:54,370 --> 00:17:57,490
the company is 10% of all 
revenue that comes through. 

308
00:17:57,730 --> 00:17:59,170
Now that can be quite 
complicated. 

309
00:17:59,170 --> 00:18:02,970
Very hard to say on a podcast as
opposed to spreadsheet, but 

310
00:18:02,970 --> 00:18:05,290
margin is a very good way of 
saying. 

311
00:18:05,330 --> 00:18:07,810
If. 
We don't make X amount of margin

312
00:18:07,810 --> 00:18:12,410
on top of our cost. 
We won't be able to survive. 

313
00:18:12,610 --> 00:18:15,330
So it's just an easy figure in 
business to talk about. 

314
00:18:15,570 --> 00:18:19,250
And so margin is used often and 
then volume is another thing 

315
00:18:19,250 --> 00:18:22,210
that's used quite often in terms
of the amount of custom that you

316
00:18:22,210 --> 00:18:24,650
have. 
And we jump over to. 

317
00:18:25,170 --> 00:18:27,770
Petrol for example, that's a 
really good example. 

318
00:18:27,770 --> 00:18:30,650
I've worked in the petroleum 
industry and literally it is 

319
00:18:30,650 --> 00:18:34,850
volume of petrol and the margin 
how much you're adding, they 

320
00:18:34,850 --> 00:18:40,610
work out the cost to get the 
petroleum petrol to the pump and

321
00:18:40,810 --> 00:18:44,090
and they have a figure for that 
and then they know that when you

322
00:18:44,090 --> 00:18:47,090
know the price. 
Of petrol goes up, plus their 

323
00:18:47,090 --> 00:18:50,570
costs. 
Then they might add 1020% margin

324
00:18:50,570 --> 00:18:53,410
and they'll in that case 
actually margins are quite a lot

325
00:18:53,410 --> 00:18:55,090
in that and the petroleum 
industry. 

326
00:19:18,250 --> 00:19:23,610
Cases or owns the actual station
and obviously the distribution 

327
00:19:23,610 --> 00:19:24,770
behind it and all the rest of 
it. 

328
00:18:55,410 --> 00:19:00,330
But as petrol fluctuates you 
know Z Energy, BP will add a 

329
00:19:00,330 --> 00:19:03,290
margin to that. 
And so they can measure 

330
00:19:03,290 --> 00:19:06,650
basically the volume times that 
margin and that gives them an 

331
00:19:06,650 --> 00:19:08,770
idea about how much money they 
might be making. 

332
00:19:09,130 --> 00:19:13,330
Obviously those companies both 
can have asset cost maintenance,

333
00:19:14,170 --> 00:19:17,450
potentially lease costs, a shop 
cost paying the person. 

334
00:19:24,890 --> 00:19:27,210
So there are other things, but 
that's why. 

335
00:19:27,210 --> 00:19:30,210
We talk about margin quite 
simply because it's something 

336
00:19:30,290 --> 00:19:32,770
easy to just work out. 
We know what our targets are. 

337
00:19:33,700 --> 00:19:35,420
OK. 
So I've gone down this deep hole

338
00:19:35,420 --> 00:19:37,900
in terms of margins. 
And the reason that's important 

339
00:19:38,220 --> 00:19:41,620
is that things like margin and 
volume are used when we define 

340
00:19:41,620 --> 00:19:44,460
our strategic objectives that 
they're simple terms. 

341
00:19:44,460 --> 00:19:48,420
So we know we want to increase 
margin by 1% or we want to 

342
00:19:48,420 --> 00:19:52,740
maintain margin by X is common. 
For our company's. 

343
00:19:52,740 --> 00:19:55,380
Strategic objectives. 
And then volume, it could be we 

344
00:19:55,380 --> 00:19:57,740
want to increase the amount of 
customers we've had or the 

345
00:19:57,740 --> 00:20:00,660
amount of powers we repair by 
20% and that's volume. 

346
00:20:01,140 --> 00:20:03,990
So that's kind of. 
The two figures where? 

347
00:20:03,990 --> 00:20:07,430
Businesses know now are they 
making any money? 

348
00:20:08,350 --> 00:20:12,630
And then of course they are 
just, you know, two figures, if 

349
00:20:12,630 --> 00:20:14,110
you like, that are. 
Included in strategic. 

350
00:20:15,310 --> 00:20:17,070
But there are a number. 
There was actually. 

351
00:20:17,070 --> 00:20:21,590
More of a framework or a process
that that the business goes 

352
00:20:21,590 --> 00:20:22,830
through. 
So we've talked. 

353
00:20:22,830 --> 00:20:24,790
About this mission and we've 
talked about some of the. 

354
00:20:24,790 --> 00:20:30,310
Attributes that might go into 
defining a vision, sorry, 

355
00:20:30,310 --> 00:20:31,910
defining our strategic 
objectives. 

356
00:20:32,310 --> 00:20:36,190
But one thing that's missing in 
between the strategic objectives

357
00:20:36,190 --> 00:20:38,470
and our mission is what's called
the vision. 

358
00:20:38,950 --> 00:20:44,190
And the vision is this is also 
there's a soft or hidden. 

359
00:20:44,570 --> 00:20:48,690
Strategic vision behind it. 
So the strategic vision is the 

360
00:20:48,690 --> 00:20:52,690
long term goal. 
So singular for the business. 

361
00:20:52,690 --> 00:20:56,130
So it's where you want to be in 
the future. 

362
00:20:56,530 --> 00:20:58,890
So where? 
It's talking about where we are 

363
00:20:58,890 --> 00:21:02,890
now and what we want to achieve.
In the future, the long term 

364
00:21:02,890 --> 00:21:08,690
future and from there we then we
then elaborate on those 

365
00:21:08,890 --> 00:21:11,490
measurables through strategic 
objectives. 

366
00:21:17,010 --> 00:21:14,210
Its purpose for existence. 
So you have a mission again, 

367
00:21:14,250 --> 00:21:16,370
which is what the business does 
its. 

368
00:21:19,130 --> 00:21:21,770
Then you have the strategic 
vision which is the long term 

369
00:21:21,770 --> 00:21:23,850
goal for the business. 
So a tangible. 

370
00:21:24,270 --> 00:21:26,550
Where you want to be in the 
future and then we have 

371
00:21:26,550 --> 00:21:28,830
strategic objectives that come 
under that. 

372
00:21:28,990 --> 00:21:34,270
Which is the measurable kind of 
goals which might be 1-2, 

373
00:21:34,670 --> 00:21:39,110
usually defined as either 1/3 or
five year strategic objectives, 

374
00:21:39,110 --> 00:21:42,520
and that depends on the. 
The, the, the company and 

375
00:21:42,520 --> 00:21:45,920
usually the CEO in terms of what
the length of those strategic 

376
00:21:45,920 --> 00:21:48,440
objectives are. 
Cool. 

377
00:21:48,800 --> 00:21:51,960
Now the other word that you may 
have heard in business terms are

378
00:21:51,960 --> 00:21:57,520
values and so values are guiding
principles that dictate how a 

379
00:21:57,520 --> 00:22:01,040
business operates. 
It's like now, so in order to 

380
00:22:01,120 --> 00:22:04,440
realize the the vision of the 
company. 

381
00:22:05,360 --> 00:22:07,440
Values are defined and so you 
usually. 

382
00:22:07,440 --> 00:22:10,810
Find that when a vision is 
defined, and I would say that's 

383
00:22:10,810 --> 00:22:14,130
when a new leader of the company
comes in, they have a. 

384
00:22:14,370 --> 00:22:16,890
It's really. 
They own that, if you like. 

385
00:22:16,890 --> 00:22:19,850
If you like the executives or 
sorry, the board. 

386
00:22:20,010 --> 00:22:24,250
Or the owner owns the mission. 
The executive team. 

387
00:22:24,250 --> 00:22:28,290
Generally and the CEO or 
whatever the leadership. 

388
00:22:28,290 --> 00:22:32,130
Structures of your organization 
owns the vision and then the 

389
00:22:32,130 --> 00:22:35,810
vision is like the kind of what 
now is. 

390
00:22:36,250 --> 00:22:38,450
They have values that come along
with it, so you usually. 

391
00:22:38,450 --> 00:22:44,610
Find that branding and vision 
statements and values will come 

392
00:22:44,610 --> 00:22:47,690
about when you usually have a 
new leader of the company 

393
00:22:47,890 --> 00:22:51,330
because it's usually there five 
years and that's generally how 

394
00:22:51,330 --> 00:22:54,290
long you know. 
Average as CEO were last so. 

395
00:22:55,090 --> 00:22:59,010
That's kind of their their plan 
of attack and that's generally 

396
00:22:59,330 --> 00:23:01,730
how how things work. 
All right. 

397
00:23:01,730 --> 00:23:06,930
So I've just given you kind of a
really good snapshot in terms of

398
00:23:07,130 --> 00:23:09,330
how all. 
Those what you may have thought 

399
00:23:09,330 --> 00:23:11,970
of as buzzwords. 
Actually mean something and 

400
00:23:11,970 --> 00:23:14,970
where they come from so now. 
You've got your executive. 

401
00:23:14,970 --> 00:23:16,290
Team They have to find their 
vision. 

402
00:23:17,180 --> 00:23:20,660
And now they need to establish 
goals for the company and the. 

403
00:23:20,980 --> 00:23:25,020
If you like the strategic 
objectives where we formulate a 

404
00:23:25,020 --> 00:23:29,580
plan of action, an actual, you 
know, like I said, miserable set

405
00:23:29,580 --> 00:23:32,300
of goals that we are going to 
achieve. 

406
00:23:32,620 --> 00:23:37,140
And we don't do. 
That without in an absence, in a

407
00:23:37,140 --> 00:23:40,110
vacuum. 
We don't just look at our own 

408
00:23:40,110 --> 00:23:43,190
company and go well, OK, let's 
avoid what's happening in the 

409
00:23:43,190 --> 00:23:45,830
market. 
Let's just focus on what we want

410
00:23:45,830 --> 00:23:48,190
to do. 
It's very rarely that a company 

411
00:23:48,190 --> 00:23:53,990
will do that unless they're 
hugely big and and have a huge 

412
00:23:53,990 --> 00:23:57,110
monopoly in the market. 
So strategic objectives are 

413
00:23:57,110 --> 00:24:00,550
strategic and and so when we 
talk about strategic business 

414
00:24:00,550 --> 00:24:04,070
analysis, they are looking, they
use techniques, they look out 

415
00:24:04,550 --> 00:24:08,110
and then they look at the 
company internally to how. 

416
00:24:08,110 --> 00:24:11,710
Is this actually and plan the 
strategic predictive is going to

417
00:24:12,270 --> 00:24:15,270
come about for the company 
internally. 

418
00:24:15,630 --> 00:24:19,990
So let's talk about some 
techniques that we would use to 

419
00:24:19,990 --> 00:24:23,550
define our strategic objectives,
right. 

420
00:24:23,910 --> 00:24:30,040
So there are from 1:00. 
Opinion online if you like. 

421
00:24:30,040 --> 00:24:32,760
There are 7 strategic planning 
models. 

422
00:24:32,760 --> 00:24:34,600
So what we're talking about is 
strategic planning. 

423
00:24:34,800 --> 00:24:36,200
That might be the word that you 
hear. 

424
00:24:36,440 --> 00:24:39,320
And usually, I mean this can 
take about 3 months, three to 

425
00:24:39,320 --> 00:24:42,400
six months from an exec to 
actually get it get right. 

426
00:24:42,480 --> 00:24:47,930
Especially if there's responses 
to the market or pressure in 

427
00:24:47,930 --> 00:24:50,530
terms of. 
Profitability. 

428
00:24:50,730 --> 00:24:52,290
They might take a while to get 
these right. 

429
00:24:52,730 --> 00:24:57,410
So this particular one of these 
articles that I've looked at is 

430
00:24:57,450 --> 00:25:01,650
what I was looking for to not go
through the kind of 1516 plus 

431
00:25:01,850 --> 00:25:04,250
different frameworks that I know
about. 

432
00:25:04,250 --> 00:25:07,410
Just talk about these seven 
models and they talk about a 

433
00:25:07,410 --> 00:25:09,810
basic model, which is what we've
just talked about. 

434
00:25:10,430 --> 00:25:13,910
With the kind of mission 
statement, the vision, the 

435
00:25:13,910 --> 00:25:16,550
strategic and then there's just 
a set of actions that you go 

436
00:25:16,550 --> 00:25:19,310
about. 
Then there's also the second one

437
00:25:19,310 --> 00:25:25,150
which they talk about which is 
the issues based model where 

438
00:25:26,420 --> 00:25:30,260
it's also called a goal based 
kind of planning model and it's 

439
00:25:30,260 --> 00:25:33,580
it's a, it's an extension of 
basic strategic planning, but 

440
00:25:33,580 --> 00:25:36,780
it's a bit dynamic and very 
popular for companies that want 

441
00:25:36,780 --> 00:25:40,620
to create a more comprehensive. 
Plan if you like. 

442
00:25:41,020 --> 00:25:43,100
And that is really starting with
a technique. 

443
00:25:43,100 --> 00:25:47,100
Called the SWOT analysis, which 
we're going to get into soon. 

444
00:25:47,300 --> 00:25:52,500
And a SWOT analysis is where you
assess your organization's 

445
00:25:52,500 --> 00:25:54,780
strengths, weaknesses, 
opportunities, and threats. 

446
00:25:54,780 --> 00:25:59,520
So strengths The S. 
Weaknesses, the W opportunities,

447
00:25:59,520 --> 00:26:06,240
the O and threats being the T 
and that is a prime approach and

448
00:26:06,240 --> 00:26:12,320
technique that you as a BA 
should understand and so that 

449
00:26:12,320 --> 00:26:15,520
this is called the issues based 
model and there there. 

450
00:26:15,520 --> 00:26:17,840
Are others. 
And I'm going to just quickly 

451
00:26:17,960 --> 00:26:21,970
going all the way up and just 
talk about these seven models. 

452
00:26:21,970 --> 00:26:24,370
First, just so you know, there 
are different ways in which 

453
00:26:24,370 --> 00:26:26,850
companies approach strategic 
planning. 

454
00:26:27,170 --> 00:26:33,330
One is called the alignment a 
model and it's around looking at

455
00:26:33,330 --> 00:26:36,210
potential and terms of 
competitive potential and 

456
00:26:36,210 --> 00:26:38,890
service potential and strategy 
execution. 

457
00:26:39,530 --> 00:26:42,810
There is another one which is 
called the self organization 

458
00:26:43,250 --> 00:26:47,370
organizing model. 
There is another model which is 

459
00:26:47,370 --> 00:26:49,850
called the real time model. 
There's one called the 

460
00:26:49,850 --> 00:26:54,330
inspirational model and so these
are the seven so basic issues 

461
00:26:54,610 --> 00:26:58,970
alignment sorry scenario that 
one out self organizing real 

462
00:26:58,970 --> 00:27:01,690
time and inspirational and so 
these. 

463
00:27:01,730 --> 00:27:03,370
I'm just saying. 
Words right now which mean 

464
00:27:03,370 --> 00:27:06,970
nothing to you, but the reason 
these are important is that 

465
00:27:06,970 --> 00:27:09,570
there are different ways in 
which companies have embraced 

466
00:27:09,570 --> 00:27:11,570
this, and this will generally 
be. 

467
00:27:13,150 --> 00:27:16,030
Dictated by the CEO or the 
leader of your company, but they

468
00:27:16,070 --> 00:27:19,870
all are achieving the same 
point, which is the output of 

469
00:27:19,870 --> 00:27:22,150
this process are strategic 
objectives. 

470
00:27:22,950 --> 00:27:24,830
OK. 
So I'm going to talk about now 

471
00:27:24,830 --> 00:27:27,510
go down to some of these 
techniques which are used by all

472
00:27:27,510 --> 00:27:30,510
of these models in some way, 
shape or form. 

473
00:27:30,990 --> 00:27:33,630
And one of the. 
We just touched on the the. 

474
00:27:33,630 --> 00:27:37,110
Spot analysis before and and I 
want to. 

475
00:27:37,110 --> 00:27:39,390
Talk about that in more detail, 
because that is. 

476
00:27:40,130 --> 00:27:45,330
What Bas use when doing 
enterprise and strategic 

477
00:27:45,330 --> 00:27:49,610
analysis. 
Now the reason why SWAT is good 

478
00:27:49,610 --> 00:27:54,010
is it's looking both internally 
enterprise and externally in 

479
00:27:54,010 --> 00:27:57,490
terms of strategy. 
And as I said, the SWAT is an 

480
00:27:57,490 --> 00:27:59,650
acronym that stands for 
strength, weaknesses, 

481
00:27:59,650 --> 00:28:05,690
opportunities and threats. 
So strengths refer to internal 

482
00:28:05,890 --> 00:28:08,890
initiatives that are performing.
Well, So what do we do? 

483
00:28:08,890 --> 00:28:13,500
Well, what could we do better? 
What is actually working really 

484
00:28:13,500 --> 00:28:16,100
well? 
And this needs to be a massively

485
00:28:17,060 --> 00:28:21,340
honest conversation. 
I have been involved in a few 

486
00:28:21,340 --> 00:28:23,420
actually executive 
conversations, either in the 

487
00:28:23,420 --> 00:28:26,700
exec or with an exec, and 
they've all been very, very 

488
00:28:26,700 --> 00:28:30,780
honest here. 
Usually this is not this is the 

489
00:28:30,780 --> 00:28:33,820
reason it's done behind closed 
doors, by the way, because 

490
00:28:33,820 --> 00:28:39,860
sometimes this is so frank that 
if a team member heard this, 

491
00:28:40,300 --> 00:28:43,580
they might feel like that they 
were a strength the organization

492
00:28:43,580 --> 00:28:45,740
or their group was. 
But the executive team doesn't 

493
00:28:45,740 --> 00:28:49,300
see it that way when looking at 
these kind of high level 

494
00:28:49,300 --> 00:28:52,360
measurable goals. 
So an example or strength might 

495
00:28:52,360 --> 00:28:56,440
be for our mechanics might 
mechanics store and I do 

496
00:28:56,440 --> 00:29:00,160
recommend that they should do 
this technique and might be the 

497
00:29:00,240 --> 00:29:04,280
NPS score so they measured their
customer happiness. 

498
00:29:04,280 --> 00:29:06,640
Or they could use. 
They don't use NPS. 

499
00:29:08,120 --> 00:29:10,360
Which is you know more of a 
corporate measurable. 

500
00:29:10,520 --> 00:29:13,120
They might look at the Google 
reviews and say well look we've 

501
00:29:13,120 --> 00:29:17,400
got a four plus reviewer or five
star rating and say that's 

502
00:29:17,400 --> 00:29:20,720
really good compared to our 
competitors. 

503
00:29:21,040 --> 00:29:24,080
So they could say, look the 
average mechanics. 

504
00:29:24,480 --> 00:29:27,960
A Google rating. 
And it's quite easy. 

505
00:29:27,960 --> 00:29:33,560
Just look up your five most 
competitive organizations or 

506
00:29:33,560 --> 00:29:34,960
mechanical stores. 
In lahat. 

507
00:29:34,960 --> 00:29:37,160
Or look at them all. 
Look at their Google star. 

508
00:29:37,160 --> 00:29:41,440
Rating list yours and there. 
Are you in the top, upper 

509
00:29:41,440 --> 00:29:42,760
quarter? 
Are you in the top? 

510
00:29:43,160 --> 00:29:47,560
There were 10. 
Are you in the top, top three? 

511
00:29:48,250 --> 00:29:50,450
And if you're not then that 
could be a witness and that 

512
00:29:50,450 --> 00:29:53,530
could be a goal for you is to 
get into that top three. 

513
00:29:53,770 --> 00:29:55,450
But if you are that could be a 
strength. 

514
00:29:55,490 --> 00:29:59,010
So people know that you are, you
know you have happy customers 

515
00:29:59,050 --> 00:30:01,450
and that could be a strength. 
So you need to leverage that. 

516
00:30:02,050 --> 00:30:04,970
That would be, you know, talking
about our mission to be cost 

517
00:30:04,970 --> 00:30:07,970
effective and a quality service 
that could link quite. 

518
00:30:07,970 --> 00:30:10,970
Heavily to those two. 
Those two two parts of our 

519
00:30:10,970 --> 00:30:13,010
mission statement. 
To suggest that we're actually 

520
00:30:13,010 --> 00:30:18,450
on track, so the strengths are 
almost internal things that we 

521
00:30:18,450 --> 00:30:20,770
we we have. 
And and it could, it doesn't 

522
00:30:20,770 --> 00:30:24,690
mean that it is done, it means 
that it is a specific strength 

523
00:30:24,690 --> 00:30:26,770
that we could leverage. 
So we could. 

524
00:30:26,850 --> 00:30:29,970
Make even better, W is 
weaknesses. 

525
00:30:29,970 --> 00:30:33,010
So again, it's internal. 
It's saying what is 

526
00:30:33,010 --> 00:30:35,850
underperforming. 
And again, when I just mentioned

527
00:30:35,850 --> 00:30:38,690
that you wouldn't, This is why 
this is not an open door 

528
00:30:38,690 --> 00:30:41,090
conversation is that you talk 
about improvement. 

529
00:30:41,090 --> 00:30:41,890
You. 
Could say look. 

530
00:30:42,670 --> 00:30:48,270
The financed the finance team or
finances, if you like. 

531
00:30:48,430 --> 00:30:51,510
The management of our finances 
has been pretty bad this year. 

532
00:30:51,910 --> 00:30:54,710
We didn't have the information 
on him we needed. 

533
00:30:54,830 --> 00:30:56,990
We didn't have the reports. 
We needed and we made some 

534
00:30:57,150 --> 00:31:02,150
informed decision that informed 
and uneducated decisions as an 

535
00:31:02,150 --> 00:31:04,390
executive team and we need 
better financial. 

536
00:31:05,030 --> 00:31:06,550
So that's a frank conversation 
that. 

537
00:31:06,550 --> 00:31:09,710
Is the conversation that you 
want to have at the executive 

538
00:31:09,710 --> 00:31:11,470
tech. 
Now, if you were having that 

539
00:31:11,470 --> 00:31:14,750
with your finance team, they 
might be demoralized to hear 

540
00:31:14,750 --> 00:31:16,550
that. 
And you're not talking about the

541
00:31:16,550 --> 00:31:18,830
individuals and you're not even 
talking about the performance. 

542
00:31:19,030 --> 00:31:21,190
You're just talking. 
About it at a company level, 

543
00:31:21,390 --> 00:31:24,470
which is why this is, you know 
why these conversations do 

544
00:31:24,470 --> 00:31:28,030
happen at the exec and and 
aren't really on the floor. 

545
00:31:28,390 --> 00:31:30,510
Or if you're going to 
communicate this to your team, 

546
00:31:30,510 --> 00:31:33,350
your management team as I have, 
you might soften that a little 

547
00:31:33,350 --> 00:31:38,670
bit to not make anyone feel 
devalued as a result of these 

548
00:31:38,670 --> 00:31:41,230
conversations. 
But the executive team, the, you

549
00:31:41,230 --> 00:31:43,750
know, the the owners of a small.
Company. 

550
00:31:43,950 --> 00:31:46,070
Need to be have these frank 
conversations. 

551
00:31:46,070 --> 00:31:49,230
This is no time for patting each
other on the back. 

552
00:31:50,070 --> 00:31:52,350
So weaknesses are what 
underperforming? 

553
00:31:52,390 --> 00:31:55,350
Why are they underperforming? 
What can be improved? 

554
00:31:55,630 --> 00:31:58,550
What resources could we inject 
in there to improve them? 

555
00:31:58,830 --> 00:32:01,030
So moving a weakness to a 
strength. 

556
00:32:01,110 --> 00:32:05,110
Is, is, is great have you need. 
You always have weaknesses and 

557
00:32:05,110 --> 00:32:07,550
you know and you can measure 
that in terms of ranking against

558
00:32:07,550 --> 00:32:10,590
our competitors. 
But it could be the fact that 

559
00:32:10,590 --> 00:32:13,750
our, you know, for example for 
Mike's mechanics, it could be 

560
00:32:13,750 --> 00:32:16,710
that we just, we just have a 
really bad website and that 

561
00:32:16,710 --> 00:32:20,030
people we know that people are 
moving more to to the web 

562
00:32:20,190 --> 00:32:23,390
compared to our competitors. 
Our website visibility is low 

563
00:32:23,870 --> 00:32:25,670
and we just don't spend any 
money on it. 

564
00:32:25,670 --> 00:32:28,830
So maybe we need to invest in 
that area. 

565
00:32:28,830 --> 00:32:32,470
So that this is how you know you
start following these goals. 

566
00:32:32,510 --> 00:32:36,910
That we talked about strategic. 
The next part of a sweat 

567
00:32:36,910 --> 00:32:44,220
analysis is opportunities. 
So you look. 

568
00:32:39,620 --> 00:32:42,980
So the opportunities result from
your strengths and. 

569
00:32:44,260 --> 00:32:49,740
At your what you can improve and
what you're doing well and then 

570
00:32:49,740 --> 00:32:51,900
what does that mean in terms of 
your opportunities. 

571
00:32:52,900 --> 00:32:57,300
But you are looking at that in 
an external mindset. 

572
00:32:57,620 --> 00:33:00,420
So you're saying what are the 
opportunities in the market? 

573
00:33:00,660 --> 00:33:03,060
How do we fill a gap? 
In the market. 

574
00:33:03,300 --> 00:33:05,740
How do we improve our? 
What reasons? 

575
00:33:05,820 --> 00:33:09,380
We need to improve our 
weaknesses and so this is and. 

576
00:33:09,580 --> 00:33:12,100
It could be around, you know, 
the fact that we're going to 

577
00:33:12,100 --> 00:33:16,700
offer something more than our 
competitors around. 

578
00:33:16,700 --> 00:33:19,580
Price or offers. 
So this is really around. 

579
00:33:19,860 --> 00:33:23,700
What opportunities do you have 
and it usually is around looking

580
00:33:23,700 --> 00:33:27,620
externally it could be 
opportunities as a goals that 

581
00:33:27,620 --> 00:33:29,300
you're going to set, but I do 
like. 

582
00:33:29,700 --> 00:33:32,100
The idea of looking them at 
opportunities in the market, 

583
00:33:32,100 --> 00:33:35,100
where could we fill a gap? 
We could find that an 

584
00:33:35,100 --> 00:33:37,690
opportunity could. 
Could be, for example, we knew 

585
00:33:37,690 --> 00:33:39,530
that, a competitor. 
Was struggling. 

586
00:33:39,530 --> 00:33:43,010
It could be to acquire that 
company, you know that is the 

587
00:33:43,010 --> 00:33:45,650
kind of strategic planning that 
is really. 

588
00:33:46,810 --> 00:33:49,450
Worth having a conversation 
about and actually makes a 

589
00:33:49,450 --> 00:33:51,970
difference to your company. 
It's not just make things better

590
00:33:52,690 --> 00:33:55,530
and then finally threats. 
So threats are. 

591
00:33:56,170 --> 00:33:58,810
Areas with the potential to 
cause problems. 

592
00:33:59,300 --> 00:34:02,620
So they they're not weaknesses, 
they are external and out of 

593
00:34:02,620 --> 00:34:05,900
your control. 
And so this could be the global,

594
00:34:05,900 --> 00:34:08,300
global pandemic. 
So a lot of people who wouldn't 

595
00:34:08,300 --> 00:34:13,900
have done any strategic planning
over the COVID situation, you 

596
00:34:13,900 --> 00:34:17,659
know, they were at a 
disadvantage, whereas once COVID

597
00:34:17,659 --> 00:34:21,260
came about strategic planning 
should have been kicked off for 

598
00:34:21,260 --> 00:34:22,699
these companies. 
It was like, how are we going to

599
00:34:22,699 --> 00:34:24,469
deal with this? 
And they should have done a SWAT

600
00:34:24,469 --> 00:34:26,389
analysis and looked at 
opportunities. 

601
00:34:26,870 --> 00:34:30,070
Companies that pivoted as a 
result of SWAT analysis and 

602
00:34:30,070 --> 00:34:34,710
changed how they serve their 
customers, for example, did 

603
00:34:34,710 --> 00:34:37,429
better than those who just wrote
it out. 

604
00:34:37,750 --> 00:34:40,989
And so this is it. 
Could be you should always be 

605
00:34:40,989 --> 00:34:44,469
looking at things like global 
warming and global pandemic, 

606
00:34:44,469 --> 00:34:47,389
just in case, but also just more
simple. 

607
00:34:47,389 --> 00:34:50,870
Day-to-day things, which is 
what's is there a recession 

608
00:34:50,870 --> 00:34:54,230
happening happening in your 
area, What are the market 

609
00:34:54,230 --> 00:34:58,630
trends, competitors 
outperforming us, Is there a 

610
00:34:58,630 --> 00:35:01,950
change in our industry which 
like the spread of AI for 

611
00:35:01,950 --> 00:35:06,510
example, might should be in a 
lot of SWOT analysis where your 

612
00:35:06,510 --> 00:35:11,310
business might be relying on, I 
don't know people doing manual. 

613
00:35:11,310 --> 00:35:15,070
Tasks and New Zealand, the 
petroleum industry, for example.

614
00:35:15,670 --> 00:35:19,430
There've been legislation that's
talked about the fact that we 

615
00:35:19,430 --> 00:35:26,470
won't necessarily mindful 
anymore fossil fuels outside New

616
00:35:26,470 --> 00:35:31,230
Zealand and there's a whole 
industry in teriyaki that relies

617
00:35:31,230 --> 00:35:33,510
on that. 
So that would be a that should 

618
00:35:33,510 --> 00:35:36,670
be a threat on any company 
that's in that region that 

619
00:35:36,670 --> 00:35:40,350
relies on that external factor. 
So that's what we're talking 

620
00:35:40,350 --> 00:35:42,790
about. 
So you generally draw into into 

621
00:35:42,790 --> 00:35:45,310
full quadrants. 
Like with a cross with a. 

622
00:35:45,430 --> 00:35:50,550
W sorry, an SWOT and you fill 
that in and you know it can be 

623
00:35:50,550 --> 00:35:55,750
represented on a PowerPoint 
slide and then that's great and 

624
00:35:55,750 --> 00:36:00,370
how you you then do that? 
Before implementing a large. 

625
00:36:00,370 --> 00:36:02,810
Change or doing your strategic 
objectives. 

626
00:36:03,090 --> 00:36:07,090
And it's a really, it's a really
simple technique and that matrix

627
00:36:07,090 --> 00:36:09,530
is just really used. 
It's really a decision making 

628
00:36:09,890 --> 00:36:13,770
process and and the execs should
argue over it and no one should 

629
00:36:13,770 --> 00:36:18,490
necessarily agree 100% and then 
we and then once you you know 

630
00:36:18,490 --> 00:36:22,930
settle on what that's going to 
be that then it can feed into 

631
00:36:22,930 --> 00:36:24,410
your planning. 
So that's one. 

632
00:36:24,410 --> 00:36:27,320
Very, very. 
Great technique, the SWOT 

633
00:36:27,560 --> 00:36:31,840
analysis and as Bas you may help
the organization or the exec 

634
00:36:31,840 --> 00:36:34,760
team do that. 
So the other technique that I 

635
00:36:34,760 --> 00:36:42,920
think is that I love is called 
the Porters 5 forces framework 

636
00:36:42,920 --> 00:36:46,560
or the Porters 5 forces. 
So we stuffed that up. 

637
00:36:46,880 --> 00:36:50,410
Five forces. 
Developed by Michael E Porter, 

638
00:36:50,810 --> 00:36:57,170
the framework outlines 5 forces 
that you have to be aware of and

639
00:36:57,170 --> 00:36:59,370
monitor OK. 
So this is. 

640
00:36:59,530 --> 00:37:00,850
This is. 
Really cool. 

641
00:37:01,610 --> 00:37:06,130
A really cool framework for an 
organization that is in 

642
00:37:06,130 --> 00:37:10,370
existence, but it's also 
actually really great when 

643
00:37:10,370 --> 00:37:12,970
you're trying to develop a new 
business and find an 

644
00:37:12,970 --> 00:37:17,130
opportunity. 
So what the five forces are 

645
00:37:17,130 --> 00:37:21,000
about? 
Is 1 the competition in your 

646
00:37:21,000 --> 00:37:22,440
industry OK? 
How? 

647
00:37:22,720 --> 00:37:25,000
These are things that just are 
true? 

648
00:37:25,400 --> 00:37:28,560
OK, these are things that you 
can examine, right? 

649
00:37:28,560 --> 00:37:31,760
Up well, and these are things. 
That you, as a BA work on a 

650
00:37:31,760 --> 00:37:33,600
project you may never, ever 
think of. 

651
00:37:34,000 --> 00:37:35,840
If you're working at a 
government department, for 

652
00:37:35,840 --> 00:37:39,760
example, your competition could 
be minimal or your competition 

653
00:37:39,760 --> 00:37:42,920
is private. 
Private companies who are 

654
00:37:42,920 --> 00:37:46,000
offering services that you and 
the public service are just not 

655
00:37:46,000 --> 00:37:50,360
offering as well or you know, at
the right price point, but the 

656
00:37:51,120 --> 00:37:59,760
competition here is fantastic. 
So competition in the industry 

657
00:37:59,760 --> 00:37:55,000
would be real, it would be OK. 
Let's think of competition in 

658
00:37:55,000 --> 00:38:04,200
terms of Mike's mechanics. 
What is the competition in the 

659
00:38:04,200 --> 00:38:08,360
mechanical, you know, the 
mechanics industry, full stop in

660
00:38:08,360 --> 00:38:11,070
New Zealand is that? 
Is there a lot of competition? 

661
00:38:11,070 --> 00:38:15,030
There are a lot of companies. 
What is our competition in our 

662
00:38:15,030 --> 00:38:18,110
immediate area? 
How many other mechanical? 

663
00:38:18,110 --> 00:38:19,670
Stores are there and and you 
know. 

664
00:38:19,870 --> 00:38:21,950
This is something that you 
should think about before 

665
00:38:21,950 --> 00:38:28,310
entering into into the industry 
or into that particular format, 

666
00:38:28,310 --> 00:38:31,630
but you can always always 
changes, so you need to like I 

667
00:38:31,630 --> 00:38:33,310
said. 
Monitor and be aware of these 

668
00:38:33,310 --> 00:38:35,990
things because competition could
greatly increase. 

669
00:38:36,380 --> 00:38:38,700
There could be a whole lot of 
mechanics that leave their 

670
00:38:38,700 --> 00:38:44,300
apprenticeship at various larger
mechanical stores and start to 

671
00:38:44,300 --> 00:38:48,420
open up their own garage, you 
know, to service cars. 

672
00:38:48,580 --> 00:38:52,900
And now you've got a bit of a 
problem also how competition is 

673
00:38:54,900 --> 00:38:57,740
actually formed. 
So in New Zealand we have the A,

674
00:38:58,180 --> 00:39:02,940
A which is the automotive 
association and they for example

675
00:39:03,820 --> 00:39:07,810
have a very, you know, great 
network for fuel discounts but 

676
00:39:07,810 --> 00:39:13,690
also car repairs, insurance and 
they also, you know if your car 

677
00:39:13,690 --> 00:39:15,010
breaks down you give them a 
call. 

678
00:39:15,010 --> 00:39:17,050
And there will be an equivalent 
in the states. 

679
00:39:17,640 --> 00:39:20,120
And so for example, they've 
already got quite a lot of 

680
00:39:20,120 --> 00:39:24,120
customer reach there. 
So the idea that you know, they 

681
00:39:24,120 --> 00:39:24,680
have these. 
A. 

682
00:39:24,680 --> 00:39:26,120
A service centers where you can 
take your. 

683
00:39:26,120 --> 00:39:29,320
Car that could be. 
You know, quite a threat to 

684
00:39:29,320 --> 00:39:35,080
local mechanics for example. 
Or if for if there was a change 

685
00:39:35,080 --> 00:39:37,280
in the market and one of the 
petrol companies decided to get 

686
00:39:37,280 --> 00:39:39,920
back into mechanical repairs, 
that would change the 

687
00:39:39,920 --> 00:39:42,560
competition in the industry. 
So that's number one, the 

688
00:39:42,560 --> 00:39:44,240
competition. 
Think about that. 

689
00:39:44,240 --> 00:39:49,650
That's really, really important.
The other the other four areas, 

690
00:39:50,370 --> 00:39:52,610
I'm going to explain what what 
those are. 

691
00:39:52,610 --> 00:39:56,170
So there is #1, the threat of 
new. 

692
00:39:56,690 --> 00:39:59,490
Entrants into your industry. 
Or into your market. 

693
00:40:01,170 --> 00:40:03,930
OK, so you can. 
Measure that because A. 

694
00:40:03,930 --> 00:40:07,650
Threat A. 
New entry into your market 

695
00:40:07,650 --> 00:40:12,410
results and increase pressures 
on your price and cost. 

696
00:40:12,410 --> 00:40:15,650
So we talked about margin and 
volume so that. 

697
00:40:16,060 --> 00:40:19,100
Have a new entrance of a new 
mechanical store opened up down 

698
00:40:19,100 --> 00:40:23,420
the road in the same area as 
ours in terms of Microsoft. 

699
00:40:25,180 --> 00:40:27,700
You're going to. 
Have a response, an economic 

700
00:40:27,700 --> 00:40:30,340
response in terms of price 
competition potentially. 

701
00:40:31,260 --> 00:40:34,380
And they're competing on price 
because I'll have to if anyone 

702
00:40:34,380 --> 00:40:36,900
they want any customers, they 
can't really be more expensive 

703
00:40:37,220 --> 00:40:38,940
than your store. 
So they'll probably be very 

704
00:40:38,940 --> 00:40:42,020
similar and then you might 
compete on that and the other 

705
00:40:42,020 --> 00:40:45,900
one, so that can be on your 
margins and then your volumes. 

706
00:40:45,900 --> 00:40:47,980
And the reason why I've 
introduced these words earlier 

707
00:40:47,980 --> 00:40:52,100
as they're useful now is that 
the amount you've only got, I 

708
00:40:52,100 --> 00:40:55,940
don't know 1000 people in that 
area and now, you know used to 

709
00:40:55,940 --> 00:40:59,380
have 100 people, sorry, used to 
have the market share, your 

710
00:40:59,380 --> 00:41:00,700
percentage of market share in 
that. 

711
00:41:00,820 --> 00:41:04,380
Area could have been 80%, so of 
those 1000 people, if you like. 

712
00:41:04,620 --> 00:41:07,780
You know 80% of them went to you
and now and you know the rest 

713
00:41:07,780 --> 00:41:10,460
went further. 
And went into the city or 

714
00:41:10,460 --> 00:41:12,340
something for their cars to be 
repaired. 

715
00:41:12,700 --> 00:41:15,780
And now with this new. 
Store that's opened up down the.

716
00:41:17,040 --> 00:41:21,320
Maybe you've got a chance of 
losing half of your market share

717
00:41:21,320 --> 00:41:25,240
that they're offering the same 
price and the same quality of 

718
00:41:25,240 --> 00:41:28,240
service and they over time you 
could start to. 

719
00:41:28,240 --> 00:41:30,920
Lose your market. 
Share So the threat of new 

720
00:41:30,920 --> 00:41:36,480
entrants is what is that threat?
And so that's important, but the

721
00:41:36,480 --> 00:41:39,490
reason that is. 
Important is that when you get 

722
00:41:39,490 --> 00:41:42,930
down into further detail around 
the thread of new entrants, it's

723
00:41:42,930 --> 00:41:47,930
around what are the what, What 
would it take to launch, what 

724
00:41:47,930 --> 00:41:50,210
would it take to launch a new 
entrance. 

725
00:41:50,210 --> 00:41:54,170
So it's not just the threat of 
it is also what is the 

726
00:41:54,170 --> 00:41:57,930
likelihood of someone entering 
that industry? 

727
00:41:58,730 --> 00:42:01,050
So I'm going to give you a 
completely different example 

728
00:42:01,370 --> 00:42:04,210
where we talk about search 
Google search. 

729
00:42:04,850 --> 00:42:10,690
The chance of a new industry 
entrant and to search is so low 

730
00:42:11,450 --> 00:42:15,330
because Google has all the 
infrastructure investment and a 

731
00:42:15,330 --> 00:42:19,490
monopoly that if someone tries 
to create search another search 

732
00:42:19,490 --> 00:42:23,730
product. 
You know, it has to be 10 times 

733
00:42:23,730 --> 00:42:25,810
better before anyone's gonna use
it, right? 

734
00:42:26,130 --> 00:42:28,370
It's gonna take years for that 
to get established. 

735
00:42:28,880 --> 00:42:31,640
And that is why eBay. 
That is why they don't have to 

736
00:42:31,640 --> 00:42:33,080
make their interface. 
Any better? 

737
00:42:33,480 --> 00:42:36,920
There's also other reasons 
around people getting used to 

738
00:42:36,920 --> 00:42:39,840
new interfaces. 
In New Zealand we have Trade Me,

739
00:42:39,960 --> 00:42:42,960
which is the equivalent of eBay.
It's probably one of the only 

740
00:42:43,360 --> 00:42:47,160
places in the world where eBay 
isn't massive and Trade Me is 

741
00:42:47,160 --> 00:42:50,880
the New Zealand equivalent. 
Now what's interesting there is 

742
00:42:50,920 --> 00:42:55,960
eBay is so huge, yet they 
struggle to enter into the New 

743
00:42:55,960 --> 00:42:58,480
Zealand market. 
And they struggle to enter 

744
00:42:58,760 --> 00:43:02,280
because trade me already. 
Has the market. 

745
00:43:02,280 --> 00:43:06,840
Their market share is so high 
everyone knows it and for eBay 

746
00:43:06,840 --> 00:43:08,760
have made a determination that 
they weren't. 

747
00:43:08,800 --> 00:43:10,320
You know they're not even going 
to try and push. 

748
00:43:10,600 --> 00:43:11,800
Into New Zealand. 
The benefit? 

749
00:43:11,960 --> 00:43:14,600
It just wouldn't be worth it. 
And they're only going to get X 

750
00:43:14,600 --> 00:43:17,480
amount of market share, so that.
I mean that might change but. 

751
00:43:17,480 --> 00:43:19,720
That's what we talked about in 
terms of threat of new entrants.

752
00:43:19,720 --> 00:43:21,400
It's very important to think 
about. 

753
00:43:21,800 --> 00:43:25,160
We talked about the competition 
in the industry that exists. 

754
00:43:26,090 --> 00:43:30,250
The more difficult, obviously 
the more competition means the 

755
00:43:30,250 --> 00:43:31,770
more. 
Difficult it is to to. 

756
00:43:31,770 --> 00:43:36,250
Create value in the market. 
So in the supermarket industry 

757
00:43:36,250 --> 00:43:40,490
in New Zealand, there is minimal
competition in the industry and 

758
00:43:40,970 --> 00:43:45,490
threat of new entrances #1 
threat of new entrance into the 

759
00:43:45,490 --> 00:43:49,850
market is low and So what? 
That's why grocery prices are so

760
00:43:49,850 --> 00:43:51,930
high. 
In New Zealand because there 

761
00:43:52,010 --> 00:43:54,410
isn't. 
There really isn't any 

762
00:43:54,410 --> 00:43:59,210
competition and for someone into
the market is really low and and

763
00:43:59,210 --> 00:44:01,890
I've just read an article 
yesterday around the Commerce 

764
00:44:01,890 --> 00:44:06,290
Commission actually finding 
quite a lot of money like we're 

765
00:44:06,290 --> 00:44:10,610
talking about 1,000,000 
companies suppliers to these big

766
00:44:11,210 --> 00:44:17,570
supermarkets. 
For not, they were not supplying

767
00:44:18,860 --> 00:44:21,740
startup companies. 
So startup companies that wanted

768
00:44:21,740 --> 00:44:25,900
to enter into the market were 
being hosted out by the 

769
00:44:25,900 --> 00:44:30,740
suppliers who said we can't sell
you cheaper than the supermarket

770
00:44:30,980 --> 00:44:35,220
AKA, and we can't, we can't 
allow you to make money or 

771
00:44:35,220 --> 00:44:38,460
otherwise the big players are 
going to stop using our 

772
00:44:38,460 --> 00:44:40,980
products. 
And so there has been a bit of 

773
00:44:41,220 --> 00:44:46,250
market unfairness there. 
And so you know, again, it's 

774
00:44:46,250 --> 00:44:49,010
very, very difficult. 
In the supermarket industry for 

775
00:44:49,530 --> 00:44:52,250
people to enter into the market 
and that's why I find these 

776
00:44:52,250 --> 00:44:54,330
really interesting because we 
don't read an article, I 

777
00:44:54,330 --> 00:44:56,730
understand why. 
And so we're going to get down 

778
00:44:56,730 --> 00:44:59,530
to some that relate to that 
supermarket industry right now, 

779
00:44:59,930 --> 00:45:03,530
the next number 3. 
So we've covered off threat 1-2 

780
00:45:03,530 --> 00:45:06,930
competition and three. 
Is the bargaining power of 

781
00:45:06,930 --> 00:45:11,130
suppliers OK? 
So suppliers can wield more 

782
00:45:11,130 --> 00:45:14,450
power if there are less 
alternatives for buyers. 

783
00:45:15,250 --> 00:45:18,890
Or it's expensive, time and 
consuming or difficult to switch

784
00:45:18,890 --> 00:45:23,690
to a different supplier. 
So in the example of mic 

785
00:45:23,690 --> 00:45:26,130
mechanics, we might be 
supplying, I don't know, 

786
00:45:26,570 --> 00:45:29,490
batteries or we might be 
supplying something that's. 

787
00:45:30,230 --> 00:45:33,430
Critical to most cars that we 
service. 

788
00:45:33,430 --> 00:45:36,910
So we're servicing Japanese cars
and we know that a lot of people

789
00:45:36,910 --> 00:45:40,790
have Mazdas, then Mazda 
supplying those parts, those 

790
00:45:40,790 --> 00:45:47,190
genuine Mazda parts to us, for 
example, if there is, if we can 

791
00:45:47,190 --> 00:45:48,990
only buy it from. 
Mazda. 

792
00:45:49,610 --> 00:45:52,410
We know they're going to fix 
price, so we have to pay that. 

793
00:45:52,650 --> 00:45:56,250
So the bargaining power of the 
supplier is really important if 

794
00:45:56,250 --> 00:45:59,410
there are minimal suppliers, if 
there aren't many supplies to 

795
00:45:59,410 --> 00:46:01,650
get the parts. 
You need to deliver your service

796
00:46:01,810 --> 00:46:04,610
or your product. 
Then there is huge bargaining 

797
00:46:04,610 --> 00:46:06,810
power on the supplies and you're
going to be paying. 

798
00:46:06,810 --> 00:46:09,450
More and your costs are going to
be higher, so you need to 

799
00:46:09,450 --> 00:46:13,490
understand the bargaining power 
of the supplies before entering 

800
00:46:13,490 --> 00:46:16,850
into the market, or just build 
that into your cost model. 

801
00:46:18,200 --> 00:46:23,240
Inversely, #4 is the bargaining 
power of buyers, so buyers can 

802
00:46:24,040 --> 00:46:27,320
wear more power. 
At the same product or service 

803
00:46:27,320 --> 00:46:30,640
is available somewhere else with
little or no difference in 

804
00:46:30,640 --> 00:46:34,240
quality, OK. 
So in that case with our 

805
00:46:34,240 --> 00:46:37,440
mechanic store, if there is 
other mechanic stores that are 

806
00:46:37,440 --> 00:46:40,880
providing exactly the same 
service that they see it, they 

807
00:46:40,880 --> 00:46:44,280
see the quality of these other 
mechanical stores that are 

808
00:46:44,720 --> 00:46:45,920
service centers that are 
providing. 

809
00:46:46,260 --> 00:46:48,780
High quality, which is really 
important in mechanics because I

810
00:46:48,780 --> 00:46:51,380
would say that there is a huge 
range of quality. 

811
00:46:51,660 --> 00:46:53,980
But let's say we. 
Guarantee that I don't know. 

812
00:46:54,180 --> 00:46:57,020
Someone left our mechanical 
store and said they're now the 

813
00:46:57,020 --> 00:47:01,180
best and they're down the road. 
Then the bargaining power of. 

814
00:47:02,660 --> 00:47:07,060
Of me as a consumer, the buyer, 
I can wield more power because I

815
00:47:07,060 --> 00:47:08,540
can go, well, I'm going to go 
somewhere else. 

816
00:47:08,540 --> 00:47:12,220
Or are you going to give me 15% 
off if I go somewhere else? 

817
00:47:12,220 --> 00:47:16,540
Like you'll see that Bunnings 
for example offers 15% discount.

818
00:47:16,540 --> 00:47:19,860
If you find their price anywhere
else, they've decided to be, you

819
00:47:19,860 --> 00:47:22,780
know, cost effective and so 
they've had to offer that to say

820
00:47:22,780 --> 00:47:25,620
I don't go to. 
What we have might attend and 

821
00:47:25,620 --> 00:47:27,300
New Zealand, which is a hardware
store. 

822
00:47:28,510 --> 00:47:31,430
So that's the binding power of 
the buyers and then finally. 

823
00:47:32,030 --> 00:47:34,830
And this is really important. 
It's the threat of substitute, 

824
00:47:36,030 --> 00:47:38,470
OK. 
So if another company already 

825
00:47:38,470 --> 00:47:42,950
covers the market needs, you 
have to create a better product 

826
00:47:42,950 --> 00:47:45,310
or service. 
Or make it available at a lower.

827
00:47:45,310 --> 00:47:49,070
Price at the same quality in 
order to compete. 

828
00:47:49,510 --> 00:47:53,390
So it's it's similar in terms of
having another substitute. 

829
00:47:53,390 --> 00:47:56,670
So if I want to. 
If. 

830
00:47:57,370 --> 00:48:00,810
If someone is offering exactly 
the same as me the only. 

831
00:48:00,810 --> 00:48:03,530
Thing I can do, especially if 
it's. 

832
00:48:03,530 --> 00:48:08,610
Better than my the better than 
what Ioffer is to make my make 

833
00:48:08,610 --> 00:48:11,530
it cheaper. 
At the same quality in order to 

834
00:48:11,530 --> 00:48:13,810
compete. 
So knowing how many, it's not 

835
00:48:13,810 --> 00:48:16,850
competition necessarily, it 
could just be something that's a

836
00:48:16,850 --> 00:48:20,440
replacement service, so. 
An example. 

837
00:48:21,000 --> 00:48:22,760
It doesn't really relate very 
well. 

838
00:48:22,760 --> 00:48:25,600
To our mechanical. 
Store, but let's say with the AA

839
00:48:25,600 --> 00:48:28,440
service centre. 
If AA provided, OK, we're gonna 

840
00:48:28,440 --> 00:48:34,040
do a package where we provide. 
Roadside assistance A a package 

841
00:48:34,600 --> 00:48:39,280
fuel discount servicing, car 
servicing and insurance for a 

842
00:48:39,280 --> 00:48:42,440
package price of X that is a 
substitute. 

843
00:48:42,480 --> 00:48:47,160
And so I would buy that and that
would mean that as a result that

844
00:48:47,160 --> 00:48:51,520
whole cost car servicing, you 
know the only way that anyone's 

845
00:48:51,520 --> 00:48:55,480
going to come to us if that's 
that's a great deal that I've 

846
00:48:55,480 --> 00:48:58,270
packaged. 
It's going to be a Wheeler. 

847
00:48:58,790 --> 00:49:01,390
Either they have, we have. 
Goodwill with our customers. 

848
00:49:02,150 --> 00:49:06,590
But new customers we will have 
to offer a properly a lower 

849
00:49:06,590 --> 00:49:10,270
price to generate the same level
of quality and so threaded 

850
00:49:10,270 --> 00:49:11,990
substitutes are really 
important. 

851
00:49:12,270 --> 00:49:14,870
So I think it's. 
Also really important to 

852
00:49:14,870 --> 00:49:19,510
understand that industry static,
so the you need to have a 

853
00:49:19,510 --> 00:49:24,470
dynamic strategic plan so you 
can compete in the market and so

854
00:49:24,470 --> 00:49:27,350
the just to cover off the 
porters 5 forces. 

855
00:49:27,350 --> 00:49:31,510
Framework is really good and 
looking externally and the SWOT 

856
00:49:31,510 --> 00:49:34,510
analysis is looking at taking 
those details and looking at a 

857
00:49:34,510 --> 00:49:35,150
bit of a plan. 
So I'm. 

858
00:49:35,590 --> 00:49:38,510
Just going to leave you with 
those two models today. 

859
00:49:38,510 --> 00:49:42,910
There are others. 
There is the VRIO framework. 

860
00:49:43,390 --> 00:49:48,070
That's another really good 
organization that looks about. 

861
00:49:48,660 --> 00:49:50,180
It kind of looks at it, at 
resources. 

862
00:49:50,180 --> 00:49:52,300
So it looks at the viability of 
resources. 

863
00:49:52,620 --> 00:49:54,860
It looks at are the resources 
rare? 

864
00:49:55,980 --> 00:50:00,780
Are they able to be? 
Are they kind of odd to you 

865
00:50:00,780 --> 00:50:05,180
know? 
Replace or substitute? 

866
00:50:05,220 --> 00:50:08,740
How rare or complex are those 
resources and then the 

867
00:50:09,940 --> 00:50:11,620
organizational resources we 
need? 

868
00:50:11,940 --> 00:50:14,780
So there are others. 
There are lots and lots of 

869
00:50:14,780 --> 00:50:19,740
others, but I think the Porters 
5 Forces framework and the SWOT 

870
00:50:19,740 --> 00:50:23,180
analysis is really great. 
If you want to look at one other

871
00:50:23,260 --> 00:50:26,460
model, look at the PISTOL 
framework. 

872
00:50:26,660 --> 00:50:30,020
That stands for, again, an 
acronym, Political Economic 

873
00:50:30,020 --> 00:50:34,380
Social Technology. 
Technological, Legal and 

874
00:50:34,380 --> 00:50:35,900
environmental. 
So you should always do a pest 

875
00:50:35,900 --> 00:50:38,780
to analysis too. 
It's similar to the SWOT 

876
00:50:38,780 --> 00:50:42,820
analysis except except for it's 
focusing on external factors and

877
00:50:42,820 --> 00:50:47,100
external solutions. 
And so every company like if 

878
00:50:47,380 --> 00:50:51,540
you're politically related or 
economic related or social 

879
00:50:51,540 --> 00:50:55,020
related or technologies going to
change your industry or legal or

880
00:50:55,020 --> 00:50:58,700
environmental, you would want to
look at these forces that are 

881
00:50:58,700 --> 00:51:01,820
happening, the pistol model. 
So I would suggest the three 

882
00:51:01,820 --> 00:51:07,340
models are what pistol and the 
five forces models are we 

883
00:51:07,340 --> 00:51:10,140
should. 
Start and once you've done that.

884
00:51:10,490 --> 00:51:13,250
Strategic planning. 
Then you have strategic 

885
00:51:13,250 --> 00:51:15,050
objectives. 
You then have goals that you're 

886
00:51:15,050 --> 00:51:18,410
putting in place, SMART 
objectives, and those objectives

887
00:51:18,650 --> 00:51:21,210
link to your, so they are 
defined. 

888
00:51:21,600 --> 00:51:25,240
And then you come up with action
plans and the highest level 

889
00:51:25,240 --> 00:51:29,360
place that a BA links to 
strategic objectives are your 

890
00:51:29,360 --> 00:51:32,160
business requirements. 
So you have business 

891
00:51:32,160 --> 00:51:34,680
requirements that link to your 
strategic objectives. 

892
00:51:35,080 --> 00:51:37,720
You have strategic objectives, 
objectives linked to business 

893
00:51:37,720 --> 00:51:40,960
requirements, business 
requirements linked down to your

894
00:51:40,960 --> 00:51:44,200
functional non functional 
requirements in the agile world.

895
00:51:44,580 --> 00:51:48,340
You will have objectives, then 
you have your epics, then you 

896
00:51:48,340 --> 00:51:50,500
have your user stories, so 
that's it. 

897
00:51:50,580 --> 00:51:52,820
So you don't want to have any 
other layers around that. 

898
00:51:53,940 --> 00:51:57,300
You can bring it all the way up.
Your epics can be used. 

899
00:51:57,340 --> 00:52:01,700
In a business sense of Epics, 
not even product epics and they 

900
00:52:01,700 --> 00:52:03,460
could be used, there's things 
you're going after. 

901
00:52:03,940 --> 00:52:07,980
In terms of Agile and the 
framework above Epics, you 

902
00:52:07,980 --> 00:52:10,820
usually have things called 
themes or goals. 

903
00:52:11,480 --> 00:52:14,520
They can be one of the same as 
your strategic objectives. 

904
00:52:14,880 --> 00:52:18,240
So when you're doing strategic 
planning now in terms of the 

905
00:52:18,320 --> 00:52:21,720
action plan and how you execute 
on that? 

906
00:52:22,970 --> 00:52:25,930
I have been involved in, I've 
seen a lot more Bas been 

907
00:52:25,930 --> 00:52:29,610
involved in taking those to do 
objectives, working out how you 

908
00:52:29,810 --> 00:52:34,010
what your ethics are, and then 
grouping those into programs of 

909
00:52:34,010 --> 00:52:36,410
work. 
So that's how your strategic 

910
00:52:36,410 --> 00:52:41,010
objectives should match down to 
the actual work you're doing in 

911
00:52:41,010 --> 00:52:43,010
terms of your programs and your 
projects. 

912
00:52:43,210 --> 00:52:45,210
Projects might have a smaller 
amount of ethics. 

913
00:52:45,250 --> 00:52:47,490
Or you know. 
Business requirements. 

914
00:52:47,890 --> 00:52:51,290
And your programs have a have a 
might be grouped in terms of. 

915
00:52:51,330 --> 00:52:54,650
Areas of business or process 
areas and they might have more 

916
00:52:54,650 --> 00:52:57,930
epics or and more business 
requirements that you are 

917
00:52:58,170 --> 00:53:00,330
achieving. 
And so that that is another 

918
00:53:00,330 --> 00:53:03,490
topic for another day which is 
called program planning and we 

919
00:53:03,490 --> 00:53:08,010
talk about how we shape the our 
action plans, but it shows you 

920
00:53:08,010 --> 00:53:10,990
there that you've got your. 
Just in summary, you've got your

921
00:53:10,990 --> 00:53:14,390
mission statement, It's there 
for kind of for your purpose for

922
00:53:14,390 --> 00:53:17,030
a long time. 
You have your vision, which then

923
00:53:17,030 --> 00:53:21,190
drops out from your vision. 
Is your strategic objectives and

924
00:53:21,190 --> 00:53:24,750
also your values how you're 
going to operate for this long 

925
00:53:24,750 --> 00:53:26,860
term. 
And then from your strategic 

926
00:53:26,860 --> 00:53:30,940
objectives, you then drop down, 
yes, into a program planning, 

927
00:53:31,220 --> 00:53:37,420
the shape of the action plan and
then in terms of the BA world. 

928
00:53:37,660 --> 00:53:40,780
You're dropping down into your 
epics and your user stories, or 

929
00:53:40,780 --> 00:53:46,940
in the more formal method we 
call them Business Requirements,

930
00:53:46,940 --> 00:53:48,300
High Level Business 
Requirements. 

931
00:53:48,540 --> 00:53:50,660
And then we drop them down to 
the detailed business 

932
00:53:50,660 --> 00:53:52,780
requirements, which are 
functional and nonfunctional 

933
00:53:52,780 --> 00:53:55,040
requirements. 
So they are the. 

934
00:53:55,040 --> 00:53:56,480
Levels and that's the 
traceability. 

935
00:53:57,080 --> 00:54:00,040
So we've jumped around from a 
little bit here, but talking 

936
00:54:00,040 --> 00:54:02,640
about strategic. 
Planning where that came from 

937
00:54:02,840 --> 00:54:04,720
and then how that relates to you
as a BA. 

938
00:54:05,760 --> 00:54:07,520
So I hope you got value out of 
that. 

939
00:54:08,000 --> 00:54:11,720
I've tried to dip and just give 
you a taste of every area and if

940
00:54:11,720 --> 00:54:14,000
there's any specific areas you 
want to know more about, I'm 

941
00:54:14,000 --> 00:54:15,600
more than. 
Happy to explain them to you.