Internal Assessment
THE INTERNAL ASSESSMENT
OUTLINE
| The Nature of an Internal Audit | | Integrating Strategy and Culture | | Management | | Marketing | | Finance/Accounting | | Production/Operations | | Research and Development | | Management Information Systems | | The Internal Factor Evaluation (IFE) Matrix |
OBJECTIVES
After studying this paper, you should be able to do the following:
1. | Describe how to perform an internal strategic-management audit. | 2. | Discuss key interrelationships among the functional areas of business. | 3. | Compare and contrast culture in America versus other countries. | 4. | Identify the basic functions or activities that make up management, marketing, finance/ accounting, production/operations, research and development, and management information systems. | 5. | Explain how to determine and prioritize a firm’s internal strengths and weaknesses. | 6. | Explain the importance of financial ratio analysis. | 7. | Discuss the nature and role of management information systems in strategic management. | 8. | Develop an IFE Matrix. |
PAPER OVERVIEW
Paper 4 focuses on identifying and evaluating a firm’s strengths and weaknesses in the functional areas of business, including management, marketing, finance/accounting, production/operations, research and development, and management information systems. Relationships among these areas of business and the strategic implications of important functional area concepts are examined. The process of performing an internal audit is described. Strategies are formulated that take advantage of an organization’s internal strengths and improve upon weaknesses.
EXTENDED PAPER OUTLINE WITH TIPS
I. THE NATURE OF AN INTERNAL AUDIT
A. Strengths and Weaknesses
1. All organizations have strengths and weaknesses in the functional areas of business. No enterprise is equally strong or weak in all areas. Internal strengths/weaknesses, coupled with
OUTLINE
| The Nature of an Internal Audit | | Integrating Strategy and Culture | | Management | | Marketing | | Finance/Accounting | | Production/Operations | | Research and Development | | Management Information Systems | | The Internal Factor Evaluation (IFE) Matrix |
OBJECTIVES
After studying this paper, you should be able to do the following:
1. | Describe how to perform an internal strategic-management audit. | 2. | Discuss key interrelationships among the functional areas of business. | 3. | Compare and contrast culture in America versus other countries. | 4. | Identify the basic functions or activities that make up management, marketing, finance/ accounting, production/operations, research and development, and management information systems. | 5. | Explain how to determine and prioritize a firm’s internal strengths and weaknesses. | 6. | Explain the importance of financial ratio analysis. | 7. | Discuss the nature and role of management information systems in strategic management. | 8. | Develop an IFE Matrix. |
PAPER OVERVIEW
Paper 4 focuses on identifying and evaluating a firm’s strengths and weaknesses in the functional areas of business, including management, marketing, finance/accounting, production/operations, research and development, and management information systems. Relationships among these areas of business and the strategic implications of important functional area concepts are examined. The process of performing an internal audit is described. Strategies are formulated that take advantage of an organization’s internal strengths and improve upon weaknesses.
EXTENDED PAPER OUTLINE WITH TIPS
I. THE NATURE OF AN INTERNAL AUDIT
A. Strengths and Weaknesses
1. All organizations have strengths and weaknesses in the functional areas of business. No enterprise is equally strong or weak in all areas. Internal strengths/weaknesses, coupled with