If your business is planning some changes soon, you may be looking to take on some third party advice. Businesses need to change when something external to them changes. Markets shift and move into new areas. Competitors come and go. Your customers come and go. There are many reasons why your company must make changes within the business, but how do you know where to start?
Taking on a big project to implement change requires every stakeholder to be on board and involved. It will be an ‘all-in’ approach that will lead to success. This is great for a company that desperately needs to get to the root of problems that have occurred before a solution can be found. Some businesses have an in-house Business Analyst who will have been performing these tasks ongoing. Most companies need to contract someone in with CBAP Certification to help identify what needs to be changed.
Whenever a business starts running into problems, it is usually caused by more than one thing. These things will also have a ripple effect and cause a cascade of problems within the firm that leads to difficulties in remaining competitive. A Business Analyst will communicate with your teams and observe working practices to try and find the root of the problem. This may take some considerable time. The data from this work will be analysed and summarised to be presented to the board. From there, some discussions will take place to explore possible solutions. The more flexible a company, the more solutions could be offered.
For companies that are not in a position to make a lot of big changes, things may not progress rapidly. Costs and manpower often factor heavily into any change, and when IT is involved, new people or outsourced services may be required. Implementing new IT systems or services takes time, testing and training to work well. Without these changes, it is possible the company may fail to turn a profit after only a short period of time.
Hiring someone to look at the company from the outside in could be a good idea if you have had that gut feeling that all is not well for some time. You may not be able to pinpoint what is wrong, but a good Business Analyst should find the problem and offer up solutions. Sometimes you just need that extra pair of eyes to confirm suspicions or put your mind at rest.
Many areas of your business are internally reviewing themselves on an annual basis. The accounts team will be checking supplier contracts are the cheapest. Even the marketing team will be continually assessing the effectiveness of campaigns. While the heads of departments may be good at analysing the data to determine what isn’t working, they rarely have the time to determine why. Finding out why things are not working well, helps you salvage what you can from processes rather than scrapping them completely. This level of analysis and understanding also helps prevent you from making the same mistakes again.