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Action Research In Business Analyst In Finance
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Business analysis is the process through which change is enabled in an organization. Therefore, business analysis involves the definition of the needs while recommending solutions capable of delivering value to the organization’s stakeholders. The job titles for business analysis practitioners includes others such as business systems analysts, systems analysts, product manager, management consultant, business intelligence analyst, and product owner among many others. Many other jobs within an organization such as management, software development, project management, product management, quality assurance, and quality assurance heavily rely on the skills of business analysis to be successful.
A business analyst is capable of analyzing an organization’s domain and at the same time documents its business and processes evaluating the business model and its integration with technology. On the other hand, there is a business analyst in finance. A business analyst in finance is described as a liaison among an organization’s stakeholders so as to comprehensively understand the organization’s financial structure, policies, and operations of which solution is recommended thus enabling the organization to achieve its financial goals. The role of the business analyst in finance can also be clearly defined as a bridge between an organization’s problems and financial problems (Arsanjani, 2005).
In this case, business problems can range from anything from financial systems such as the financial model, method, or process. The financial solutions can be the use if financial architecture, tools, or software applications. Therefore, business analysts in finance are required to analyze, transform, and consequently resolve the business financial problems using the available financial tools. It is not an overnight task acquiring a role as a business analyst in finance. Going through several job sites advertisements on business analyst in finance, one is likely to find that almost all positions require the candidate to have some years of experience as a mandatory requirement.
The truth behind this is all business analysts in finance start at a lower level or as interns in several companies and make their ways towards the senior levels. This means that becoming an accomplished business analyst in finance requires extensive experience. Regardless of the class of business analysis, a business analyst helps businesses do business better. Therefore, for this reason, a business analyst in finance becomes an agent of change. A business analyst in finance employs approaches capable of introducing and managing changes required in an organization regardless the organization operates as a for-profit business, non-profit, or government (Hass et al., 2007).
The researcher is designed to train as a business analyst in finance by undertaking an internship at an established company. The main objective of the internship will be preparing, developing, and analyzing the management accounting information. At the same time, the researcher will provision high-quality support service to the line managers within the organization. The researcher will be reporting to the business analyst but will have contacts with several parts of the organization:
i. Collaborating with several other volunteers
ii. Working with several other staff in the organization’s finance team
iii. Advising the organization’s budget holders on various aspects of the budgetary control
iv. Collaborating with other financial staff in the society
The methodology in this is the action research. Action research is comprehensively defined as a systematic and disciplined process of inquiry. Additionally, action research is carefully conducted by the people within the process itself. Therefore, action research is conducted for the good of the people taking part in it. The main reason why action research is conducted is for the purpose of coming up with new ways through which unwanted situation within an organization or society will be improved.
Action researchers are solely responsible for deciding on the operations of the action researcher process. Therefore, they are accountable for the success or failure of the process of action research. Conducting action research in a school environment helps the practitioners evaluate needs, document steps of the inquiry, analyze the data, and eventually make informed decisions which may lead to the desired outcomes of the whole process of the action research. Action research is undertaken by the practitioners posing questions, gathering data, and making a comprehensive decision on the course of the action they need to be undertaken.
History of Action Research
According to Kemmis & McTaggert (1990) action research originally came from the United States. Kurt Lewin is attributed as the founder of action research in 1946. Kurt Lewin was a social psychologist. However, other authors such as Kemmis (2009) state that action research as a method of inquiry has evolved over the last century. Observing the available literature keenly, it can be seen that action research was derived from the scientific method of inquiry. Therefore, action research reaches back to the science in the education during the late nineteenth century. Historically, action research follows a systematic process of spiral steps. Since it was first discovered in 1946, action research has been applied in a different situation while evolving to what is used today. As much as it was evolving, the popularity of action research was not until in the 1970s when many researchers found it suitable for solving problems in the society or the organizations in which they were working (Stringer, 1996). Therefore, action research has today become the most appropriate investigation method for the sole reason of improving the situation. It follows the steps below:
i. Planning (Coming up with ways of undertaking the action)
ii. Action (Implementation of the plan)
iii. Observation (Monitoring and describing the effects of the action)
iv. Reflection (Assessment of the outcomes from the action taken)
Figure 1: Action Research Process. Source: https://hereflections.wordpress.com/tag/action-research/
Upon identification of the problem, the practitioners come up with activities and ways in which they are going to implement the activities. Within planning, there are three steps that need to be satisfied. One of the activities is identifying the problem. The other one is knowledge of the process of investigation and finally the plan of the way in which the action will be performed.
The practitioners immediately start acting on the plan after answering the question of the research and comprehensively understanding the research. During the action, the practitioner may want to continue with the study, modify, or disband the whole study.
In the observation, the researcher engages in evaluating both planning and action. During observation, the researcher may carry out revisions after evaluation. Additionally, the practitioner may make some changes or improvements as per the project. From the results, the researcher develops an action plan.
During the reflection, the practitioner dwells on what is working in the whole action research and what they need to improve. Finally, the practitioner summarizes the outcomes and creates a strategy of sharing the results of the action research (Stringer, 1996).
Principles of Action Research
i. The principle of critique
ii. The principle of plural structure
iii. The principle of collaborative resource
iv. Principle of dialectical critique
SUITABILITY OF ACTION RESEARCH
Action research works by exclusively examining the available evidence thus making its outcomes relevant and practical. Relevance is placed on the findings and outcomes of the action research. Additionally, action research comprehensively understands the system defining the social context in which it is conducted. Therefore, action research can be said to be a simple method through which one can understand social systems and organizational learning. According to Lewin (1946), a system can only be understood better if it is put under effective changes. Therefore, the practitioner introduces a theory with the intention of changing the system targeting the outcomes. However, the theory can only be tested if the practitioner carefully understands, interpret, and analyze the data. Action research will be applicable in business analyst in finance. Applying action research will be one of the most practical ways through which the researcher will gain reliable information about business analysis in finance. Additionally, action research will ensure there is motivation throughout the process. Action research will also give the research freedom to make changes during the process. The researcher will also use the four phases of the action.
Arsanjani, A. (2005). Empowering the business analyst for on demand computing. IBM Systems Journal, 44(1), 67-80.
Hass, K. B., Vander Horst, R., Ziemski, K., & Lindbergh, L. (2007). From Analyst to Leader: Elevating the Role of the Business Analyst. Management Concepts Inc..
Kemmis, S. (2009). Action Research as a Practice-Based Practice. Educational Action Research, 17, 3, 463-474.
Kemmis, S., & McTaggart, R. (1988). The Action Research Planner. Geelong: Deakin University.
Lewin, K. (1946). Action research and minority problems. Journal of Social Issues, 2 (1), 45- 56.
Stringer, E.T. (1996). Action Research - A Handbook for Practitioners. London: SAGE publications.
Sherry Roberts is the author of this paper. A senior editor at Melda Research in already written essay if you need a similar paper you can place your order for a custom research paper from custom nursing essay writing services services.
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