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I have attached strategic Audit Part I, to start, this is part 2 to continue thi
I have attached strategic Audit Part I, to start, this is part 2 to continue this project ASSIGNMENT
Describe expectations for an assignment:
Part II of the Strategic Audit will focus on the internal assessment of your selected company. You will address the following items in detail and demonstrate analytical and critical thinking skills, and problem-solving skills.
Internal Environment: Strengths and Weaknesses (SWOT)
Marketing
What are the corporation’s current marketing strategies and objectives?
Are they clearly stated or merely implied from performance and/or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies, and with internal and external environments?
How well is the company performing in terms of analysis of market position and marketing mix (that is, product, price, place, and promotion) in both domestic and international markets?
How dependent is the company on a few customers? How big is its market? Where is it gaining or losing market share?
What percentage of sales comes from developed versus developing regions? Where are current products in the product life cycle?
Does marketing provide the company with a competitive advantage?
How well does the company’s marketing performance compare with that of similar corporations?
Finance
What are the corporation’s current financial strategies and objectives?
Are they clearly stated or merely implied from performance and/or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies, and with internal and external environments?
Does finance provide the company with a competitive advantage?
How well does the company’s financial performance compare with that of similar companies?
Research and Development (R&D)
What are the company’s current R&D strategies and objectives?
Are they clearly stated or merely implied from performance or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies, and with internal and external environments?
Does R&D provide the company with a competitive advantage?
Operations and Logistics
What are the company’s current manufacturing/service strategies and objectives?
Are they clearly stated or merely implied from performance or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies, and with internal and external environments?
What are the type and extent of operations capabilities of the company? How much is done domestically versus internationally? Which products have the highest and lowest profit margins?
Are manufacturing or service facilities vulnerable to natural disasters, local or national strikes, reduction or limitation of resources from suppliers, substantial cost increases of materials, or nationalization by governments?
How well does the corporation perform relative to the competition? Is it balancing inventory costs (warehousing) with logistical costs (just-in-time)?
Do operations provide the company with a competitive advantage?
Human Resources Management (HRM)
What are the company’s current HRM strategies and objectives?
Are they clearly stated or merely implied from performance and/or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies and with internal and external environments?
How well is the company’s HRM performing in terms of improving the fit between the individual employee and the job? Consider turnover, grievances, strikes, layoffs, employee training, and quality of work life.
Does HRM provide the company with a competitive advantage?
How does this company’s HRM performance compare with that of similar company?
How well is the company managing the diversity of its workforce? What is the company’s record on human rights? Does the company monitor the human rights record of key suppliers and distributors?
Information Technology (IT)
What are the company’s current IT strategies and objectives?
Are they clearly stated or merely implied from performance and/or budgets?
Are they consistent with the company’s mission, objectives, strategies, and policies, and with internal and external environments?
Does IT provide the company with a competitive advantage?
How does this company’s IT performance and stage of development compare with that of similar companies?
Summary of Internal Factors.
Which of these factors are core competencies? Which, if any, are distinctive competencies? Which of these factors are the most important to the company and to the industries in which it competes at the present time? Which might be important in the future? Which functions or activities are candidates for outsourcing?
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