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Strategic analysis is research that is conducted as part of strategic planning. This can be viewed as business analysis in support of strategy. The following are common elements of strategic analysis.
Business PlanA business plan is a proposal to invest in a new business or to diversify a business.Business CaseA business case is a proposal to invest in an existing business. For example, a proposal to invest in automation to improve productivity and quality.Financial AnalysisFinancial analysis such as return on investment estimates.
Strategic DriversIdentifying and measuring the strategic drivers that influence your strategy.ForecastingDeveloping grounded assumptions about the future. For example, a sales forecast that is used to plan production, marketing and sales.EstimatesEstimates are internal forecasts of costs and duration. For example, estimating how long it will take to bring a product to market.
Reference Class ForecastingReference class forecasting is the process of comparing estimates to a database of historical costs and duration. For example, comparing the cost to build a luxury hotel against a database of the actual costs for hundreds of similar buildings. A means of validating and improving estimates.Management AccountingManagement accounting is the practice of measuring anything that management needs to know. For example, measuring a firm's productivity rate.
BenchmarkingBenchmarking is the process of comparing your internal results to those of your industry or competitors.Customer AnalysisDeveloping an understanding of your customers or target market.Researching customers and markets. For example, estimating the demand for a new type of food product.
Evaluating sets of competitors. For example, estimating the unit costs of competitors who manufacturer in a country with cheaper labor costs.Engaging customers such as lead users to hear their view of your customer experience.
Customer JourneyCustomer journey is an analysis of the customer experience as a time sequence.Brand AnalysisAnalysis and measurement of brand recognition, brand awareness, brand image and other factors such as brand architecture.Goal PlanningThe process of setting strategic goals.The process of prioritizing goals and objectives.Gap AnalysisA gap analysis is the identification of the difference between the current state of your business and a desired future state.Capability AnalysisCapability analysis is looking at your organization as a set of current and future capabilities. For example, sales forecasting is a capability. Risk AnalysisRisk analysis is the process of identifying risks and evaluating risk exposure.Requirements AnalysisDeveloping plans that achieve goals in the form of requirements for change.Strategic ObjectivesStrategic objectives are meaningful steps towards strategic goals. For example, if your goal is to open a new restaurant a related objective might be securing a location.Critical Success FactorsIdentifying critical success factors that will cause your strategy to fail if they aren't executed well. For example, finding a talented chef for a new restaurant location.Operations AnalysisThe analysis of the core operations of a business such as manufacturing and logistics processes.Feasibility AnalysisDetermining if elements of your plan are feasible given your organizational, financial, regulatory and technical constraints.Strategic PlanningStrategic planning is the overall process of taking all the information above and generating an actual set of prioritized goals and a concrete plan to achieve them.|
| Type | | | Definition (1) | Research that supports strategic planning and decision making. | | Definition (2) | Business analysis in support of strategy. | | Related Concepts | |
Strategic Planning
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