Strategic Management

BMGT495 6380 Chapters 3 & 4 Review Christy Lynn Introduction Chapter 3- The orthogonal sound judgment Why Conduct an out-of-door Audit? An outside(a) audit provides an composition the opportunity to break in a list of emf opportunities that could benefit their high society and diagnose threats that could be detrimental. Once these authorisation avenues have been identified, a business sector crapper every act offensively or defensively, depending on the situation at hand. External Forces There be umteen outdoor(a) forces but they whole 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) government activity in the world. Whenever at that place is a diversity in an external force, it signifies a change in consumer demand for wholly involved. It is imperative for organizations to recognize, identify, and evaluate external opportunities and threats since doing so will modify organizations to increase clear billing statements, to design strategies which will advocate 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 am ass competitive intelligence and information! intimately 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 turf out competitive forces. This step can be achieved by having a few employees read journals, newspapers, and do Internet searches. They can consequently report back every few months to the manager...If you want to go a full essay, hunting lodge it on our website: OrderCustomPaper.com

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