M amp S Assignment of The Internal and External Audit

M & S Assignment of The Internal and External Audit　lSummary“Strategic assessment is an essenti

M&SAssignmentofThe InternalandExternalAudit lSummary “Strategicassessmentisanessentialelementofthe strategyofformulationprocess.Theaimofstrategy assessmentistotakestockofthecurrentbusiness situationwithaviewtorealizingthestrategicintent. Strategicassessmentstendtobecarriedoutformallyin responsetosomecleartriggerwhichmaybepoor performanceorthearrivalofanewchiefexecutive.”(Hugh Macmillan,2000,P81) Strategicassessmentrequiresanunderstandingofthe externalbusinessenvironment,internalresources, capabilities,andculture.Thepurposeoftheexternal analysisistoknowwhataffectstrategiccapabilitycould bedeployedtograspanopportunityorminimiseapotential threat.Sotheexternalanalysisisoftenincludes:general changesinthebusinessenvironment;changewithinthe industry;knownactivitiesofimmediatecompetitorsand