Programme: BIT3 Module: BUSINESS ANALYSIS

Lecturer: Cainy Binda

Name and Surname: Tshepiso Mathiane

Student Number: St10127879

Group: 2

Cell (Contact details): 079-127-1528

Question 1
Business analysts should undertake the following tasks:
Understanding business issues and objectives (IIBA, 2015, p. 3).
Understand how to prepare students for active working lives after graduation in a variety of ways,
including as researchers, employees, and entrepreneurs (IIBA, 2015, p. 3). Young people nowadays have
very different expectations, and SER sees them as the most essential goal in preparing students for today's
and tomorrow's difficulties and opportunities (IIBA, 2015, p. 3). That purpose should be analysed and
understood by business analysts (IIBA, 2015, p. 3).
Needs and solutions analysis (IIBA, 2015, p. 3).
They must consider how they will prepare kids for future difficulties. Entrepreneurship is about self-
realization, growth, change, grasping new possibilities, and meeting new problems on a continuous basis
(IIBA, 2015, p. 3).
Creating a strategy (IIBA, 2015, p. 3).
A strategy is a long-term plan for a whole company (IIBA, 2015, p. 3). They must devise tactics for putting
the answer into action (IIBA, 2015, p. 3). The business analyst must design strategies in order to meet
marketing goals set by clients (IIBA, 2015, p. 3).
Changing things up (IIBA, 2015, p. 3).
Because change is increasingly unavoidable, the capacity to influence it has become one of the most
important characteristics of modern leadership (IIBA, 2015, p. 3). Change is inevitable, and
entrepreneurship is no exception (IIBA, 2015, p. 3). While determining what to change is a strategic issue
that involves strong rational and analytical skills, promoting change throughout the organization can be a
more difficult and urgent endeavour that necessitates distinct skills and attributes (IIBA, 2015, p. 3).
Enhancing collaboration among stakeholders (IIBA, 2015, p. 3).
Stakeholder engagement is a constant in the course of business, and it demands the company to have
effective communication with its stakeholders in order to respond to valid stakeholder concerns, manage
risks, and even define future strategy (IIBA, 2015, p. 3). In order to come up with new strategies and
solutions, businesses should cooperate with stakeholders in meetings or workshops (IIBA, 2015, p. 3).
Question 2
2.1

2.2) 1. Not comprehending the fundamental business requirement (Patel, 2021)

The most critical phase in business analysis is defining business needs (Patel, 2021). It would be impossible
to identify all relevant stakeholders and elicit acceptable requirements without first comprehending and
specifying fundamental business demands (Patel, 2021).
2. Failure to designate all affected stakeholders (Patel, 2021)
It is essential to define all stakeholders who will be impacted by the stated business requirement (Patel,
2021). If a stakeholder is recognized late (or not at all!) it may result in an incomplete set of needs and may
necessitate a change to the requirements, increasing project cost and time (Patel, 2021).
3. Assuming elicitation to be a component (Patel, 2021)
Elicitation is used to gain an understanding of the present condition and to elicit requirements of the
business (Patel, 2021). When eliciting stakeholder, solution, and transformation needs, business
requirements are employed. During the requirements analysis process, we may discover gaps that require
further elicitation. Stakeholders are also polled for information on solution performance following the
adoption of a new solution (Patel, 2021).
4. Not establishing expectations of stakeholders (Patel, 2021)
Their expectations may be difficult, if not impossible, to meet. If you capture their desires as requirements,
it will be tough to meet their expectations later on (Patel, 2021). You must communicate and set
appropriate expectations using your interpersonal and negotiation abilities (Patel, 2021).
5. There is no use of a mix of complimentary elicitation approaches (Patel, 2021).
A Business Analyst should be familiar with other basic requirements elicitation techniques such as
document analysis, observation, and prototyping (Patel, 2021). A Business Analyst should be able to
comprehend the scenario and employ a variety of complementing elicitation strategies (Patel, 2021).
6. Failure to elicit assumptions and restrictions (Patel, 2021)
Constraints are limitations or restrictions (such as legal constraints, budgetary constraints, time
constraints, and so on) that limit alternative solutions to needs (Patel, 2021). If the limitations change, the
identified viable solutions may change (Patel, 2021). If the underlying assumptions and constraints for
requirements are not documented, it will be difficult to analyse the impact on requirements if specific
assumptions are later shown to be erroneous and/or viable solutions if constraints are modified (Patel,
2021).
7. There is no plan to elicit requirements iteratively.
A Business Analyst calls a stakeholder and seeks their time in order to elicit needs (Patel, 2021). Many
Business Analysts do not intend to elicit requirements iteratively and instead anticipate that stakeholders
would offer all of the information needed for the business analysis process. To elicit detailed information,
the Business Analyst must plan to elicit requirements iteratively (Patel, 2021).
8. Not verifying the information elicited (Patel, 2021)
The work of elicitation does not end once the Business Analyst has finished speaking with stakeholders
(Patel, 2021). The elicited information must be organized and sent to the stakeholders for assessment by
the Business Analyst. The goal is to ensure that the discussion has been adequately documented and to
corroborate the information gathered (Patel, 2021).
9. Failure to collaborate with stakeholders to achieve a shared knowledge of needs (Patel, 2021)
When elicited needs are communicated with stakeholders, there may be disagreements and disputes
among parties (Patel, 2021). To achieve a shared understanding of requirements, a Business Analyst must
cooperate, negotiate, and settle disagreement among stakeholders (Patel, 2021). Business analysts should
identify stakeholder problems and assist in identifying solutions to those challenges (Patel, 2021).
10. Not eliciting needs by asking more questions (Patel, 2021)
The Business Analyst's role is to extract or pull detailed needs from the thoughts of stakeholders (Patel,
2021). To extract comprehensive needs, business analysts must ask probing inquiries (Patel, 2021).

2.3) Elicitation of research

This is an examination from several sources relevant to what the business analyst is attempting to
comprehend. It does not have to be carried out in the presence of stakeholders. Stakeholders may still be
invited to engage in the study, which may include data analysis of previous data to detect trends or prior
results.
Remark University must embrace the SER program since it will adequately prepare students for active
working careers in a range of jobs after graduation, including researchers, employees, and entrepreneurs.
In the global information economy, SER predicts a growing demand for innovative and agile entrepreneurs
and intrapreneurs.
The importance of entrepreneurship in economic growth
Entrepreneurship has been identified as a vital contributor to long-term economic growth and
development since it not only provides jobs, but also increases market expenditures, knowledge transfers,
employment, and development (Doran, 2018). However, there are few quantitative studies that
investigate the relationship between the three variables of productivity expansion, development, and
entrepreneurship (Doran, 2018).
Entrepreneurship: New Firm Ventures is a vital introduction to the skills, concepts, and activities required
to launch a successful new business (Doran, 2018). They will master every stage of the entrepreneurial
route to success, from generating and developing game-changing ideas to hiring and managing the ideal
team to discovering and communicating with investors. This involves thinking outside the classroom and
putting theory into practice through real-world consumer engagement and presenting to genuine investors
(Doran, 2018).
They will learn how to think like a business owner (Insead, 2022). They will also get the eyesight acuity,
agility, and mentality to:
 Recognize where the finest ideas originate from (Insead, 2022).
 Consider how lesser actors may compete successfully with superior performers (Insead, 2022).
 Recognize when development is necessary for survival but may jeopardize it (Insead, 2022).
 Determine how business owners should think (Insead, 2022).
 Learn to navigate the concepts and processes required to manage common entrepreneurial
responsibilities like managing board meetings and seeking venture funding (Insead, 2022).
Entrepreneurial education and training equip individuals with the capacity to perceive commercial
possibilities, as well as the self-esteem, knowledge, and abilities to capitalize on them (Grecu and Denes,
2017). It teaches how to recognize opportunities, commercialize a concept, manage resources, and start a
firm. It also covers education in classic business subjects such as management, marketing, information
technology, and finance (Grecu and Denes, 2017). Entrepreneurs or the transition to self-employment is
and will continue to be an increasingly essential component of economic growth and development. It is
critical to have the infrastructure necessary to foster an entrepreneurial mindset and support self-
employment (Grecu and Denes, 2017). A culture of new venture creation is an important part of this
infrastructure since it motivates students to take the risk of launching a firm. The goal of this study is to
discuss the creation and introduction of the entrepreneurial attitude to engineering students (Grecu and
Denes, 2017).
Entrepreneurship education focuses on the development of real-world skills that will enable students to
live extraordinary lives in a quickly changing world (Grecu and Denes, 2017).
Entrepreneurship education provides pupils important life skills such as teamwork and collaboration.
 How to deliver a good presentation and talk in public (Marlborough, 2019).
 How to gather and evaluate data (Marlborough, 2019).
 How to Use social media for Advocacy (Marlborough, 2019).
 How to address actual, difficult situations that do not have a simple solution (Marlborough, 2019).
 How to utilize curiosity and creativity to solve challenging challenges in novel ways (Marlborough,
2019).

Student Advantages of Entrepreneurship Education

STUDENTS WILL BE PREPARED FOR AN UNCERTAIN FUTURE (Marlborough, 2019).
Students now confront an uncertain future filled with complicated geopolitical, social, and environmental
challenges (Marlborough, 2019). As a result, we cannot forecast what our students will need to know when
they graduate. Entrepreneurship-focused programs give students essential life skills that will assist them in
navigating this uncertain future (Marlborough, 2019).

IT WILL TEACH THEM HOW TO IDENTIFY PROBLEMS (Marlborough, 2019).

Before they can learn how to solve issues, they must first learn how to recognize them. Problems can only
be solved in the actual world if they are adequately identified and explained (Marlborough, 2019).
Entrepreneurship education allows youngsters to recognize challenges they have never experienced
before, which will be highly helpful in the world of tomorrow (Marlborough, 2019).

IT WILL HELP TO MAKE THE WORLD A BETTER PLACE (Marlborough, 2019).

Entrepreneurs use their products and services to solve issues, satisfy needs, and alleviate pain points
(Marlborough, 2019). They are hardwired to make a difference and improve the world. Students who
participate in entrepreneurial programs not only learn how to construct their own futures, but also how to
alter the world (Marlborough, 2019).
Entrepreneurship education has various advantages (Marlborough, 2019). Entrepreneurship education
may be the best option for your child, and there is no better location to pursue it than the SER
(Marlborough, 2019).

2.4)
# Risk Event or Consequence. Probability. Impact Risk
Condition. Level
1 The expenses of Failure to adequately plan might Medium High Medium
starting a new business, result in the entrepreneur going
developing new bankrupt and investors receiving
products, and running nothing.
the firm on a daily
basis.
2 The entrepreneur's The entrepreneur will not be able Low Medium Medium
enthusiasm and effort to manage his/her team
put into the business,
as well as his or her
fear of failure.
3 The time it takes for a Clients/customers become High Medium High
fresh concept to be dissatisfied with the firm if
developed into an deadlines are missed or work is
opportunity, and then of poor quality, which can cause
into a completed lasting harm to the company's
product/service that is reputation.
market ready.
4 In terms of beginning a It will heighten feelings of rage, Medium Medium High
business, being socially anxiety, melancholy, jealously,
accepted, or rejected in and sadness. It will impair
the community performance on challenging
cognitive tasks and may also
contribute to aggressiveness and
poor impulse control.

Question 3
A business case document is a formal, written argument designed to persuade a decision-
maker to adopt a certain course of action. A well-crafted business case investigates all
viable solutions to a given problem and allows business leaders to choose the alternative
that best serves the firm.

BUSINESS CASE DOCUMENT

Date 10 May 2022
Submitted by Tshepiso Mathiane
Tittle Entrepreneurship at Remark University
Incubator configuration
Business incubator programs are particularly developed arrangements that aid in the
innovation and growth of emerging enterprises (Freeman, 2021). This strategy allows you to
save money on operating expenditures and luxuries while growing your firm. Workshops and
panel discussions may be offered by incubators as part of their company development
activities (Freeman, 2021). Businesses at some incubators may have access to office necessities
such as internet, administrative assistance, and manufacturing equipment. Office services
differ from one program to the next.

The desired result.

Essentially defined, a business incubator's purpose is to assist your firm flourish (Riggins,
2017). The majority of incubators are non-profit organizations that choose tenants in a non-
competitive manner. They are supported by government or lottery funds, contributions, and
the rent you pay as a renter (Riggins, 2017). They offer both virtual and on-site tactical help
when needed, and their performance is measured by the success of their tenants. to educate
students for active working lives following graduation in various capacities: as researchers,
workers, and entrepreneurs

Study of feasibility.
The feasibility study serves as an investigative technique for determining a prospective
business's potential, viability, or practicability. It is an effective tool for predicting the chances
of a new business venture's success or failure (DubaiBusinessAdvisors, 2021). SER offers
teacher education courses at all levels of the educational system. A critical challenge in
entrepreneurial culture and education at the university is having instructors who are qualified
and, in a position, to teach entrepreneurship and apply new pedagogies.

Financial evaluation.
A financial evaluation, often known as a means test, determines whether the council will pay
for your care. It considers your financial situation.
 Finance (annually).
 R780,000 in university financing
 R1.2 million in outside financing
 R2 million in total

Question 4
Preparing for the workshop (IIBA, 2015, p. 365)
The goal and expected outcomes
 The Remark University (SER) Supporting Entrepreneurship programme prepares students for a
career following their studies as entrepreneurial employees, researchers, and entrepreneurs by
providing training, mentorship, and coaching, as well as infrastructure assistance (IIBA, 2015, p.
364). SER's goal is to educate students for active working lives after university in various capacities:
as researchers, workers, and entrepreneurs. SER sees an increasing demand for innovative and
adaptable entrepreneurs and intrapreneurs in the global information economy (IIBA, 2015, p. 364).
STAKEHOLDER ANALYSIS

# Stakeholders Roles
1 Mentors Their duty is to help with entrepreneurial education (IIBA, 2015,
p. 364).

2 Knowledge Exchange Office Their role is to assist the university and organizations in
establishing and maintaining mutually beneficial relationships.
To continue the knowledge transfer initiatives (IIBA, 2015, p.
364).

3 Patent and Is to aid in the collaboration agreement between partners and

Commercialization Office to guarantee that the majority of innovations created at Remark
Educational Institution are reported to the university (IIBA,
2015, p. 364).
4 SER Entrepreneurship Office Is to educate students how to acquire skills, ideas, and
managerial abilities, as well as the ability to work for
themselves, rather than being employed for monetary benefit
(IIBA, 2015, p. 364).

List of Strategies (IIBA, 2015, p. 365)

PARTNERSHIP WITH ENTREPRENEURS
-SER provides businessmen with a one-of-a-kind opportunity to receive professional advice and test
knowledge-based company concepts. In brief, SER can aid in the realization of the entrepreneur's idea
(IIBA, 2015, p. 364). Because all ideas and concepts are unique, SER's offer includes a variety of
arrangements, each tailored to a certain stage of the process from conception to reality (IIBA, 2015, p.
364).
MENTORED ENTREPRENEURSHIP TRAINING
SER is always organizing training programs for business owners (IIBA, 2015, p. 364). The programs are
available to everyone who is interested, regardless of educational background. During the training
program, the entrepreneur is appointed a mentor who helps guide the project throughout the course (IIBA,
2015, p. 364).
THE STRUCTURE OF THE INCUBATOR
The incubator agreement with SER is an offer aimed at creative individuals interested in entrepreneurship
and company start-up (IIBA, 2015, p. 364). Through the incubator setup, the entrepreneur will be able to
connect with other students with diverse professional competencies in order to question their
assumptions and patterns of thought in regard to their company concept (IIBA, 2015, p. 364).
TRAINING FOR TEACHERS
A critical challenge in entrepreneurial culture and education at the university is having instructors who are
qualified and, in a position, to teach entrepreneurship and apply new pedagogies (IIBA, 2015, p. 364).
INNOVATION.
Entrepreneurs must be surrounded by a well-functioning eco-system that can offer access to resources
such as expert assistance (IIBA, 2015, p. 364).

Workshop ground Rules

 Respecting the views of others. When a fresh concept or viewpoint regarding the plans is presented
by another stakeholder, we must appreciate and examine it (IIBA, 2015, p. 364).
 If we solicit individual suggestions, there should be a point when these suggestions come together
to establish group agreements, often at the end of each session (IIBA, 2015, p. 364).
 Perform timed tasks. We must emphasize the importance of adhering to the prescribed activities
and the time allotted for them. We seldom have the luxury of extra time, so we must make the
most of what we have (IIBA, 2015, p. 364).
 Topics unrelated to the workshop objectives should not be covered, or they should be time limited
(IIBA, 2015, p. 364).

Workshop Follow-Up (IIBA, 2015, p. 365)

I will send a follow-up email to each participant three to six months following the session, focusing on
action plan answers (IIBA, 2015, p. 365). The goal is to determine which effects last beyond the workshop.
So, if a participant specified in their action plan that they planned to rework the teaching activities for a
given course within 3 to 6 months of the workshop, the email would inquire how these specific
modifications were progressing (IIBA, 2015, p. 365).

Follow Up Email:
Greetings everyone, Mentors, Knowledge Exchange Office, SER Entrepreneurship Office, Patent and
Commercialization Office (IIBA, 2015, p. 365).
It has been 6 months since you attended the workshop at Place on Workshop Title. We wanted to check in
with you to see how your action plans are progressing. You believed that the techniques mentioned at the
workshop should be incorporated in the action plan you created at the workshop (IIBA, 2015, p. 365).
How are your next actions for this action plan going? Are there any unexpected hurdles in applying them
now that you are back on campus?
We would want to hear from you within the next week to get a better idea of how your plans are going
(IIBA, 2015, p. 365).
Sincerely, The BA
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Doran, J., 2018. The role of entrepreneurship in stimulating economic growth in developed and developing countries.
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Insead, 2022. Entrepreneurship:. [Online]

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