COIT20251 - Knowledge Audits for Business Analysis Assignment Solution

Executive Summary

This document has used known techniques such as SWOT, PESTLE, CATWOE, POPIT Model, Gap Analysis and Cost-Benefit Analysis to design a solution for Prime Electrical Business Case inside its industry. The solutions were evaluated in terms of capabilities to provide the business with a fast and last costly option, responding to identified requirements gathered by the Business Analyst.

Therefore, a Benefits Dependency Network was designed to help the business achieve its goals and objectives. Thus, highlighting the benefits of the business changes and identifying the factors will be determinants for the success of the project implementation.

Introduction

This report will discuss and evaluate Prime Electrical's business case. It will describe the business context using PESTLE and SWOT analysis techniques. The respective tools will be used to understand better the external and internal environment of the Prime Electrical Industry. Furthermore, stakeholder analysis will identify the key actors, whether internal or external, but crucial to achieving the project's success, engaging the team in the business solution implementation. CATWOE technique will be utilised to guide the organisation in assessing its decisions before they are made.

Additionally, this document will consider a POPIT model in the performance of a Gap Analysis to identify Prime Electrical capabilities as a new entrant in the industry. Moreover, a Cost-Benefit Analysis will be performed to understand the solutions available in the market and the benefits and costs they will bring to the business.

Finally, Impact Assessment will be considered trying to anticipate how the changes and solutions will affect the business during the implementation phase. Some recommendations will also be available at the end of this report.

1.0 – Business Context of Prime Electrical

Aware of the market environment, functions, and operations is the fundamental beginning of planning by acknowledging any risks or opportunities to the business. As a result, we will be examining the external and internal environments of the current industry. The external factors will look at the broader views of our business environments. The PESTEL analysis will be used in examining these external factors.

1.1  PESTLE Analysis

As Rothaermel (2014) discussed the PESTEL structure and use of the business's external environments, we will embrace the six stages in this report.

Political factors will be determined through policies and potentially governing rules regarding trade restrictions, competition regulation, and tax policy. Economic factors tend to lean toward the financial affairs of the Inflation rate, labour cost, and demand and supply. Social factors are helpful to the marketing strategist as they bring about buying habits, lifestyle, and average disposable income.

Technological factors drive enhancement and change through online purchasing trends, technology incentives, and technological change. Environmental factors are the external factors facing the business, such as the economic situation with the pandemic, the availability of renewable products, and customers' attitude. Legal factors tend to examine the policies in protecting the industry, similar to environmental laws, consumer protection laws, and copyright and patent laws.

1.2  SWOT Analysis of Prime Electrical

This report will use SWOT analysis for the internal factors in evaluating our current business core strengths and weaknesses. In our examination, we will also review the external aspects of the business within the opportunities and threats. As Cadle et al., (2014) explain, SWOT analysis is frequently used in workshops or teams, where methods such as brainstorming are applied (Cadle J. et al. 2014).

Strengths tend to focus on areas that the business does exceptionally well, such as strong financial capital, moderate profit margins, and 25 locations in Australia. Weaknesses tend to emphasise people, systems, and processes, for instance, brand identity not yet established, shortage in the marketing staff, and too many software systems in place.

Opportunities result from favourable outcomes in the business, such as a moderate increase in the market share, profits in the next five years, and demand for electronic appliances rising. Threats are external factors you may have limited control over, such as competitors, falling demand for household electrical appliances, and company structure changes.