BABOK_Guide_v3_member_copy

Business Knowledge
Underlying Competencies
9.3.2 Industry Knowledge
• understanding the risks involved and the ability to make decisions on
managing risks,
• demonstrating the ability to recognize an opportunity to decrease expenses
and increase profits, and
• understanding the options available to address emerging changes in the
situation.
.1 Purpose
Complimentary IIBA® Member Copy. Not for Distribution or Resale.
Industry knowledge provides the business analyst with an understanding of
current practices and activities within an industry, and similar processes across
industries.
.2 Description
Industry knowledge is an understanding of:
• current trends,
• market forces,
• market drivers,
• key processes,
• services,
•products,
• definitions,
• customer segments,
• suppliers,
•practices,
• regulations, and
• other factors that impact or are
impacted by the industry and
related industries.
Industry knowledge is also an understanding of how a company is positioned
within an industry, and its impacts and dependencies, in regards to the market
and human resources.
When developing knowledge about a particular industry, competitor, or company
the following set of questions can provide guidance:
• Who are the top leaders in the industry?
• Which organizations promote or regulate the industry?
• What are the benefits of being involved with these organizations?
• Who is creating publicity releases, participating in conventions, and
delivering marketing materials?
• What are the comparisons of products and services?
• What are the satisfaction indicators/benchmarking projects that are
applicable?
• What are the suppliers, practices, equipment and tools used by each
company, and why do they use them?
200