Strategic Management- Strategic Audit- MBA

Strategic Management- Strategic Audit- MBA

1. A Presentation on The Strategic Management ( 18MS03T1) 5 th Unit : Strategy Evaluation and control 2 nd Mid Topic : Strategic audit As a part of 3 rd semester Curriculum Submission to The Department of Management Science of Sasi Institute Of Technology & Engineering (Autonomous) , SITE Under the Guidance of : Mr. K . Naga Raju Sir Assistant Professor Submitted by : Immani.Chandra Shekar (Reg. No: 19K61E0020)

2. Strategy is a design plan to achieve long term objectives of an organisation . Strategic management is a set of management decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation, strategy implementation and evaluation and control to achieve the objectives of an organization. Audit : An official inspection of an organization's accounts, typically by an independent body . A S trategic audit is an examination and evaluation of areas affected by the operation of a strategic management process within an organization. Strategy ,Strategic management, Audit , Strategic audit 2

3. Why Strategic Audit: A strategic audit assesses your current business strategy, how suitable it is for your business and whether your company is in position to execute the strategy. Performing a strategic audit on a regular basis is crucial to the success of the business, as the strategy needs to constantly be taking into account market conditions and changes. H ow does a strategic audit work’s? 1 . It Asks The Right Questions . For example, “what business am I in ?”, what the objectives of your company? 2 . It Evaluates Your Current Strategy . 3. It Highlights Strategic Risks. 4. It Assesses The Need For Resource Changes . 5. Findings of the strategic audit will need to be implemented . 3

4. When should a strategic audit be used? A successful  strategic audit  is beneficial to any company. It assesses various aspects of a business and evaluates and determines the most appropriate direction for the company to move toward in achieving its goals. Complete a  strategic audit  utilizing six phases. Resource Audit Value Chain Analysis Core Competence Analysis Performance Analysis Portfolio Analysis SWOT Analysis 4

5. Dimensions for Conducting a Strategic Audit: There are typically eight dimensions in formulating a unified, comprehensive, and integrated set of decisions from a top-management perspective that attains organization purpose Step 1: Situation Assessment Step 2: Strategic Managers Step 3: Environmental Scanning Step 4: Strategy Evaluation Step 5: Administrative Considerations Step 6: Action Planning Step 7: Implementation Step 8: Performance Evaluation and Control 5

6. Which companies are performing strategic audit in world: 6

7. Which companies are performing strategic audit in I ndia: 7

8. Conclusion: : A strategic audit is an in-depth review to determine whether a company is meeting its organizational objectives in the most efficient way. Additionally , it examines whether the company is utilizing its resources fully. A successful strategic audit is beneficial to any company . Perform a strategic audit such as a Fresh Eyes Assessment at least every two years.  It is crucial to the success of your business.  Otherwise, you are leaving money on the table . External factors such as market conditions change. Nowadays, external conditions change faster than ever. 8

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10. Department of Management Science Thank You Sir 2020-2021 10