BSBMGT616_Online Study Guide.pdf - Online Study Guide...

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Online Study GuideAIC_BSBMGT616_OS V1.0
IBSA Student workbook Section 2AIC_BSBMGT616_OS V1.0
The strategic planning process begins with research andanalysis. It is asking ‘Where are we now?’ and ‘How well
AIC_BSBMGT616_OS V1.0
There are various ways of researching and analysingorganisation’s current status, both internally andexternally.Some of these methods include:Collecting and reviewing dataInterviewing key stakeholdersSeeking advice from expertsSurveying customersConducting external PEST analysisConducting internal SWOT analysisAIC_BSBMGT616_OS V1.0
Data and information is classified as either quantitativeor qualitative.Quantitative data is numerical information that can bedisplayed using charts, tables and diagrams. It can beeasily measured and analysed to determine quantity orextent of factors being investigated.Qualitative data is focused on words and observations,not numbers. This can include stories, interpretations,characteristics and descriptions that cannot be capturedfrom quantitative data.AIC_BSBMGT616_OS V1.0
It is essential that data is ‘quality tested’ to ensureit will produce the desired results.Data should be:AccurateRelevantReliableAIC_BSBMGT616_OS V1.0
Primary data collection is when the researcher(the user of the data) directly collects and collates

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