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INTERNAL ASSESSMENT

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by

Andrian Visitacion

on 22 July 2014

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Transcript of INTERNAL ASSESSMENT

Almie
Jhoanna Letargo
Andrian
Eugene
The Nature of an
Internal Audit
HUMAN RESOURCES:
Employees
Training
Experience
Intelligence

Plant and equipment
Location
Technology
Raw materials
Machines

Finance/Accounting
Value Chain Analysis
Management Information System
Benchmarking
Planning
Organizing
Motivating
Staffing
Controlling

INTERNAL ASSESSMENT
PHYSICAL RESOURCES:

Internal strengths and
weaknesses

External opportunities
and threats

Clear statement of
mission
Functions of finance/accounting
3 seperate fronts:
Financial ratio analysis
Finance / Accounting
Audit Checklist
Functions of Management
Customer Analysis
Selling products/services
Product and service planning
Pricing
Distribution
Marketing Research
Opportunity Analysis
Basis for Objectives
and Strategies

KEY INTERNAL FORCES

Distinctive Competencies

The firm’s strengths that cannot
be easily matched or imitated by
competitors.

The Process of Gaining
Competitive Advantage in the Firm:
weaknesses
strengths
competitive
advantage
distinctive
competencies
Knowledge
Skills
Abilities
The Process of Performing an
Internal Audit
Requirements :
gathering,
assimilating, and
evaluating information about the firm’s operations.
- Financial Ratio Analysis exemplifies the complexity of relationships among the functional areas of business.

The Resource-Based View
Approach to competitive advantage contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage.

Internal resources three encompassing categories:
a. Physical resources
b. Human resources
c. Organizational resources
Structure
Planning processes
Information systems
Patents
Trademark
Copyrights
Databases

ORGANIZATIONAL
RESOURCES
EMPIRICAL INDICATORS
Rare
Hard to imitate
Not easily substitutable
Rare Resources
- are resources that other competing firms
do not possess

Hard to imitate
- are resources that other firms cannot
easily obtain

Integrating Strategy
and Culture
Organizational Culture
“a pattern of behavior that has been developed by an organization as it learn to cope with its problem of external adaptation and internal integration, and that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel.”


Integrating Strategy and Culture
Values
Beliefs
Rites
Rituals
Myth
Symbols
Heroes
Legends
Cultural
Products
PRODUCTIONS / OPERATIONS
Roger Schroeder suggested that productions/operations management comprises 5 functions:

PROCESS
CAPACITY
INVENTORY
WORKFORCE
QUALITY


INTERNAL FACTOR
EVALUATION (IFE) MATRIX

RESEARCH AND DEVELOPMENT
R&D in organizations can take 2 basic forms:
1. INTERNAL R & D
2. CONTRACT R & D

There are seven basic functions of marketing:
investment decision also called capital budgeting
financing decision
dividend decision
How has each ratio changed over time?
How does each ratio compare to industry norms?
How does each ratio compare with key competitors?
Where is the firm financially strong and weak as indicated by financial ratio analyses?
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 dividend payout policies reasonable?
Does the firms have good relations with its investors and stockholders?
Are the firm's financial managers experienced and well trained?
Are capital budgeting procedures effective?
Is the firm's debt situation excellent?
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