ORIGINAL WORK ONLY. APA FORMAT WITH ABSTRACT AND REFERENCES. BELOW IS THE ASSIGNMENT AND READING NOTES
Strategic Audit (Assignment)
The strategic audit system is a diagnostic tool to pinpoint an organizations strengths and weaknesses. Use the Strategic Analysis Framework and other tools in order to conduct a strategic audit. You might consider using a SWOT analysis for both companies to analyze each of their situations.
For this assignment a mini strategic audit will be conducted for two companies with an overall goal to compare how each company differs in the strategy management and implementation while identifying the importance of strategic management.
Conduct a Strategic Audit on two companies of your choice that are within the same industry. During this audit you will be comparing each company to do so be sure to create a SWOT analysis for each company.
In addition visit each companys website and conduct research to identify key strategies that each company has. List a brief introduction of each company to include the Mission Statement and compare key aspects of each company.
Be sure to include the concepts identified in the readings for this week’s topics.
The requirements below must be met for your paper to be accepted and graded:
Write between 850 1250 words (approximately 3 5 pages) using Microsoft Word in APA style see example below.
Use font size 12 and 1 margins.
Include cover page and reference page.
At least 80% of your paper must be original content/writing.
No more than 20% of your content/information may come from references.
Use at least three references from outside the course material one reference must be from EBSCOhost. Text book lectures and other materials in the course may be used but are not counted toward the three reference requirement.
Cite all reference material (data dates graphs quotes paraphrased words values etc.) in the paper and list on a reference page in APA style.
References must come from sources such as scholarly journals found in EBSCOhost CNN online newspapers such as The Wall Street Journal government websites etc. Sources such as Wikis Yahoo Answers eHow blogs etc. are not acceptable for academic writing.
Role of Strategy
The focus of this lecture will be on the concepts of strategic management the framework for strategy analysis and the link between strategy and the industry environment.
The Concept of Strategy
Key questions to consider:
1.Why are decisions important?
2.What is strategic management?
3.Why has strategic management become so important to todays corporations?
Strategic Management is described as a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning (both external and internal) strategy formulation (strategic or long-range planning) strategy implementation and evaluation and control.