Beruflich Dokumente
Kultur Dokumente
Ch 4 -1
Internal Audit
Ch 4 -3
Ch 4 -4
gathered from:
Internal Audit
Involvement in performing an internal strategic-management audit provides a vehicle for understanding the nature and effect of decisions in other functional business areas of the firm
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -6
Internal Audit
Managers
team of managers then selects 10 to 15 key organizational strengths and weaknesses to focus on
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -7
Internal Audit
Financial Ratio Analysis
Ch 4 -8
Physical resources
2.
3.
Human resources
Organizational resources
Ch 4 -9
Rare
Hard to imitate
Not easily substitutable
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -10
organization as it learns to cope with its problem of external adaptation and internal integration . . . is considered valid and taught to new members as the correct way to perceive, think, and feel
Ch 4 -11
Resistant to change
May represent:
Strength
Weakness
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -12
Miss external changes due to strongly held beliefs Natural tendency to hold the course even during times of strategic change
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -13
Management
Functions of Management
1. 2. 3. 4. 5.
Management
Function Planning Organizing Motivating Staffing Controlling
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall
Strategy Implementation
Strategy Implementation
Strategy Implementation
Strategy Evaluation
Ch 4 -15
Planning
Synergy
Can develop through planning Exists when everyone pulls together as a team that knows what it wants to achieve
Ch 4 -16
Does the firm use strategic management concepts? Are objectives/goals measurable? Well communicated? Do managers at all levels plan effectively?
Ch 4 -17
Do managers delegate well? Is the organizations structure appropriate? Are job descriptions clear? Are job specifications clear? Is employee morale high?
Ch 4 -18
Is employee absenteeism low? Is employee turnover low? Are the reward mechanisms effective? Are the organizations control mechanisms effective?
Ch 4 -19
Marketing
Customer Needs or Wants for Products and Services
1. Defining
2. Anticipating
3. Creating 4. Fulfilling
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -20
Finance/Accounting
budgeting)
2. Financing decision 3. Dividend decision
Ch 4 -21
Finance/Accounting Audit
1.
2. 3.
4. 5.
Where is the firm financially strong/weak as indicated by financial ratio analysis? Can the firm raise needed short-term capital? Can the firm raise needed long-term capital through debt and/or equity? Does the firm have sufficient working capital? Are capital budgeting procedures effective?
Ch 4 -22
Finance/Accounting Audit
6. 7.
8.
9.
Are dividend payout policies reasonable? Does the firm have good relations with its investors and stockholders? Are the firms financial managers experienced and well trained? Is the firms debt situation excellent?
Ch 4 -23
Production/Operations
Production/Operations Functions
Process Capacity
Inventory
Workforce
Quality
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 4 -24
Development of new products before competitors Improving product quality Improving manufacturing processes to reduce costs
Purpose
Ch 4 -26
Ch 4 -28
Ch 4 -29
1. List key internal factors 2. Assign a weight ranging from 0.0 to 1.0
Ch 4 -30