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Chapter 4 The Internal Assessment

Chapter 4 The Internal Assessment. Strategic Management: Concepts & Cases 10 th Edition Fred David PowerPoint Slides by Anthony F. Chelte Western New England College. Nature of an Internal Audit. Internal strengths/weaknesses External opportunities/threats Clear statement of mission.

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Chapter 4 The Internal Assessment

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  1. Chapter 4 The Internal Assessment Strategic Management: Concepts & Cases 10th Edition Fred DavidPowerPoint Slides by Anthony F. Chelte Western New England College

  2. Nature of an Internal Audit • Internal strengths/weaknesses • External opportunities/threats • Clear statement of mission Basis for Objectives & Strategies

  3. Internal Audit Parallels process of external audit • Information from: • Management • Marketing • Finance/accounting • Production/operations • Research & Development • Management information Systems

  4. Resource Based View (RBV) Approach to Competitive Advantage Internal resources are more important than external factors

  5. Resource Based View (RBV) 3 All Encompassing Categories Physical resources Human resources Organizational resources

  6. Resource Based View (RBV) Empirical Indicators • Rare • Hard to imitate • Not easily substitutable

  7. Integrating Strategy & Culture Organizational Culture Pattern of behavior developed by an organization as it learns to cope with its problem of external adaptation and internal integration…is considered valid and taught to new members

  8. Integrating Strategy & Culture Values Beliefs Legends Heroes Rites Cultural Products Symbols Rituals Myths

  9. Management Stage When Most Important Function Planning Strategy Formulation Organizing Strategy Implementation Motivating Strategy Implementation Staffing Strategy Implementation Controlling Strategy Evaluation

  10. Marketing Customer Needs/Wants for Products/Services Defining Anticipating Creating Fulfilling

  11. Marketing Marketing Functions Customer analysis Selling products/services Product & service planning Pricing Distribution Marketing research Opportunity analysis

  12. Finance/Accounting Finance/Accounting Functions Investment decision (Capital budgeting) Financing decision Dividend decision

  13. Production/Operations Production/Operations Functions • Process • Capacity • Inventory • Workforce • Quality

  14. Research & Development Research & Development Functions • Development of new products before competitors • Improving product quality • Improving manufacturing processes to reduce costs

  15. Management Information Systems • Information Systems • CIO/CTO • Security • User-friendly • E-commerce

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