ch4 - Chapter 4 The Internal Assessment Ch 4-1 Internal...

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Ch 4 -1 Chapter 4 The Internal Assessment
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Internal Audit Functional Areas of Business Strengths Weaknesses Vary by organization Divisions have differing strengths Ch 4 -2 Identify strengths and weaknesses in Management Marketing Finance and accounting Production and operations Research and development Management information systems
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Ch 4 -3 Distinctive Competencies Firm’s strengths that cannot be easily matched or imitated by competitors Building competitive advantage involves taking advantage of distinctive competencies Strategies designed to improve on a firm’s weaknesses and turn to strengths Competitive Advantage is defined as anything that a firm does especially well compared to rival firms. Firms should seek a sustained competitive advantage by continually adapting to changes in external trends and internal capabilities and evaluating strategies that capitalize on those factors.
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Internal Audit Key to Organizational Success Coordination & understanding among managers from all functional areas Functional Relationships Number and complexity increases relative to organization size Financial Ratio Analysis Exemplify complexity of relationships among functional areas of the business Ch 4 -4
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Resource Based View (RBV) RBV’s Approach to Competitive Advantage Internal resources are more important than external factors vs. Industrial Organization (IO) View that external factors are more important than internal factors in a firm achieving competitive advantage. Organizational performance is primarily determined by industry forces. Ch 4 -5
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Resource Based View (RBV) Internal resources come from three categories. Physical resources : plant, equipment, location, technology, raw materials, machines, etc. Human resources : employees, training, experience, intelligence, knowledge, skills, abilities, etc. Organizational resources
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This note was uploaded on 03/30/2012 for the course HRAD 4523 taught by Professor Leong during the Spring '08 term at Oklahoma State.

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ch4 - Chapter 4 The Internal Assessment Ch 4-1 Internal...

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