Strategic Management

BMGT495 6380 Chapters 3 & 4 Review Christy Lynn Introduction Chapter 3- The orthogonal judicial decision Why Conduct an extraneous Audit? An outside(a) audit provides an arrangement the opportunity to break in a list of authorisation opportunities that could benefit their keep company and diagnose threats that could be detrimental. Once these voltage avenues have been identified, a business sector crapper both act offensively or defensively, depending on the situation at hand. External Forces There are umteen outdoor(a) forces but they every last(predicate)(prenominal) tin be shared into four broad categories. These categories are: economic forces; social, cultural, demographic, and environmental forces; political, governmental, and legitimate forces; technological forces; and emulous forces. No matter where the trend or event is taking place, it affects every(prenominal) musical arrangement in the world. Whenever at that place is a diversity in an external force, it signifies a change in consumer demand for all involved. It is imperative for organizations to recognize, identify, and evaluate external opportunities and threats since doing so will alter organizations to increase clear billing statements, to design strategies which will helper in achieving long-term goals, and to develop policies to achieve annual objectives.

The External Audit Process When performing an external audit, everyone must be involved in the process. This involvement can bring a greater commitment and infrastanding from everyone inwardly the organization. First and foremost, a company must assembly competitiv! e intelligence and information about(predicate) economic, social, cultural, demographic, environmental, political, governmental, legal, and technological trends. In opposite words, the company must gather intelligence from all of the categories discussed under the heading external forces leave off competitive forces. This step can be achieved by having a few employees read journals, newspapers, and do Internet searches. They can because report back every few months to the manager...If you want to pee a full essay, hunting lodge it on our website: OrderCustomPaper.com

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