Production/Operations AuditAre suppliers of raw materials, parts, and subassemblies reliable and reasonable? "@type": "ImageObject", Marketing. ", { Sorry, preview is currently unavailable. "contentUrl": "https://slideplayer.com/slide/6629208/23/images/1/Lecture+3+The+Nature+of+an+Internal+Audit.jpg", "@type": "ImageObject", "@type": "ImageObject", "@type": "ImageObject", }, 37 Weighted. ", { "width": "800" Return on stockholders equity (ROE)Basic Financial Ratios Effectiveness shown by returns on sales and investment Ratios Return on stockholders equity (ROE) Earnings per share Price-earnings ratio Profitability ratios (continued) Accounts receivable turnover. { audit report powerpoint template sketchbubble slide templates ppt presentation results business sample Language. ", 9001 prinsip smm produktivitas thinkpalm principle Values beliefs. "@type": "ImageObject", Are the firm's products/services priced appropriately? Span of control. Can the firm raise needed short-term capital? "name": "Internal Analysis (IFE)", Advertising. Are present channels of distribution reliable and cost effective? }, 40 Copyright 2005 Prentice Hall1 Bus 411 Day 6. "@context": "http://schema.org", { "@type": "ImageObject", "description": "Where is the firm strong and weak as indicated by financial ratio analysis 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 capital budgeting procedures effective Are dividend payout policies reasonable Does the firm have good relations with its investors and stockholders Are the firm\u2019s financial managers experienced and well trained", Ratios. ", "@type": "ImageObject", { Communication is a major component. Devising strategies. Sales force management Selling Products/servicesMarketing Advertising Sales Promotion Publicity Sales force management Customer relations Dealer relations Selling Products/services "contentUrl": "https://slideplayer.com/slide/6629208/23/images/23/Sales+force+management+Selling+Products%2Fservices.jpg", ", "width": "800" Production\/Operations. Is there a chief information officer or director of information systems position in the firm? Job specifications. ", Strategy Implementation. "width": "800" Are data in the information system updated regularly? Are facilities, resources, and markets strategically located? "@type": "ImageObject", "width": "800" audit departmental ap2 "name": "Controlling Quality control Financial control Sales control", "@type": "ImageObject", "@context": "http://schema.org", { "description": "Integrating Strategy and Culture. Coordination. "description": "All organizations \u2013 Strengths. Management information systems. Are inventory-control policies and procedures effective? Are they adequate? "name": "Management development Discipline procedures", Management Information SystemsPurpose Improve performance of an enterprise by improving the quality of managerial decisions. Basis for objectives & strategies: Internal strengths\/weaknesses. Improving product quality. audit internal risk management presentation ppt powerpoint }, 20 Nature of an Internal AuditAll organizations Strengths Weaknesses Basis for objectives & strategies: Internal strengths/weaknesses External opportunities/threats Clear statement of mission Key to organizational success: Coordination and understanding among managers from all functional areas Functions of ManagementStaffing Personnel management Human resources management ", "@context": "http://schema.org", Are product quality and customer service good? audit clinical ppt strategic assessment internal risk universe annual plan powerpoint presentation tmh leung 11th cycle introduction workshop dec dr internal audit risk powerpoint presentation ppt management role strategic assessment universe annual plan auditing kassim governance azman importance prepared objectives Are quality-control policies and procedures effective? "description": "Marketing. Organizing. Sanctions. "name": "Functions of Management", "width": "800" powerpoint charts imaginelayout indicators important Process flow analysis. Setting goals. Are product quality and customer service good? Minimal comps provided. Consumer information. "description": "Firm\u2019s ability to maintain economic position. "@type": "ImageObject", Production/OperationsDesign of facility Choice of technology Facility layout Process flow analysis Facility location Line balancing Process control Process "description": "Do all managers in the firm use the information system to make decisions Is there a chief information officer or director of information systems position in the firm Are data in the information system updated regularly Do managers from all functional areas of the firm contribute input to the information system Are strategists of the firm familiar with the information systems of rival firms Is the information system user-friendly Are computer training workshops provided for users Is the firm\u2019s system being improved", { Process of defining, anticipating, creating, and fulfilling customers needs and wants for products and services. "name": "Functions of Management", Data analysis. Job enrichment. Total assets turnover. "@type": "ImageObject", "description": "Mandalay Bay (in the previous example), has a total weighted score of 2.75 indicating that the firm is above average in its overall internal strength. If you wish to download it, please recommend it to your friends in any social system. "description": "Organizing. Are present products technologically competitive? "contentUrl": "https://slideplayer.com/slide/6629208/23/images/42/Production%2FOperations+Audit.jpg", Production/OperationsForecasting Facilities planning Aggregate planning Scheduling Capacity planning Queuing analysis Capacity Data collection. Strategy Implementation. Basic Financial RatiosFirms ability to maintain economic position Ratios Sales Net income Earnings per share Dividends per share Growth ratios ippf "@context": "http://schema.org", Internal Analysis (IFE)Mandalay Bay (in the previous example), has a total weighted score of 2.75 indicating that the firm is above average in its overall internal strength }, 6 Are management information and computer systems adequate? "name": "Key Internal Forces Distinctive Competencies", Leverage ratios. Customer analysis. "description": "Firm\u2019s ability to meet its short-term obligations. Motivating. }, 50 Thank you! Are job descriptions and job specifications clear? ", Marketing Process of defining, anticipating, creating, and fulfilling customers needs and wants for products and services Job analysis. "@type": "ImageObject", Work standards. Job enrichment. { "@context": "http://schema.org", audit internal iso strategy planning auditors { ", Do managers delegate authority well? Capacity. Effectiveness shown by returns on sales and investment. Finance\/Accounting. ", Are computer training workshops provided for users? Labor relations. "width": "800" Does the firm have an effective sales force? Is employee morale high? Investment decision (Capital budgeting)", "description": "Financing as many projects as possible. objectives "@type": "ImageObject", { "@context": "http://schema.org", Ratios. ", "description": "Organizational Culture -- Resistant to change. Stage When Most Important. "name": "Operating profit margin Return on total assets (ROA)", Are the firms financial managers experienced and well trained? Are present products technologically competitive? Net income. Career development. ", "width": "800" Staffing. audit internal entity business level overview methodology iia control standards processes technology indonesia economy Are employee turnover and absenteeism low? "contentUrl": "https://slideplayer.com/slide/6629208/23/images/40/Production%2FOperations.jpg", "description": "Marketing Process of defining, anticipating, creating, and fulfilling customers\u2019 needs and wants for products and services. Organizational changeMotivating Leadership Communication Work groups Job enrichment Job satisfaction Needs fulfillment Organizational change Morale Motivating Job descriptions. ", "name": "Research and Development Audit", Internal Strengths. }, 33 Stage When Most ImportantFunctions of Management Stage When Most Important Function Planning Strategy Formulation Organizing Strategy Implementation Motivating Strategy Implementation Staffing Strategy Implementation Controlling Strategy Evaluation }, 23 "contentUrl": "https://slideplayer.com/slide/6629208/23/images/16/Management+development+Discipline+procedures.jpg", Assign weight to each (0 to 1.0) Sum of all weights = 1.0. Choice of technology. { Span of control. To make this website work, we log user data and share it with processors. "contentUrl": "https://slideplayer.com/slide/6629208/23/images/43/Research+and+Development.jpg", audit engagement overview Activity ratios. Copyright 2005 Prentice Hall1 Bus 411 Day 8. "description": "Financing decision. "contentUrl": "https://slideplayer.com/slide/6629208/23/images/48/Internal+Analysis+%28IFE%29.jpg", Increasing free cash flows Room occupancy rates over 95% Largest casino company in world. { To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. }, 16 "@type": "ImageObject", internal audit flowchart grc What's Your MBA IQ A Manager's Career Development Tool, On explaining performance differentials: Marketing and the managerial theory of the firm, Impact of kaizen on firm's competitive advantage in a Japanese owned company in Malaysia, 2013: Converting Input to Insight: Organising for Intelligence-Based Competitive Advantage by Sheila Wright, pp 1-35 in Wright, S. (Ed), Competitive Intelligence, Analysis and Strategy: Creating Organisational Agility, Routledge/Taylor & Francis, Abingdon, UK, ICBS Intellectual Capital Benchmarking System: A Practical Methodology for Successful Strategy Formulation in the Knowledge Economy, The Influence of Strategic Management Practices on Performance of Private Construction Firms in Kenya, Effect of Enterprise Resource Planning Implementation on Financial Performance of Commercial Banks in Nigeria, Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations, Intangible Assets for Sustainable Competitive Advantage in Institutions of Higher Learning: Kenya, Cohesion Case: SABIC - Saudi Basic Industries Corporation, Resource Isolating Mechanisms and Sustainable Competitive Advantage Among Commercial Banks in Kenya, Offshore Outsourcing of Core and Non-Core Activities and Integrated Firm-Level Performance: An Empirical Analysis of Qubec Manufacturing SMEs, Information system innovations and supply chain management: Channel relationships and firm performance, Creating value through offshore outsourcing: A resource management perspective, Towards Sustainable Offshore Outsourcing: An Empirical Study on Canadian Manufacturing Small and Medium Size Firms, The business model concept: theoretical underpinnings and empirical illustrations, A Resource-Based View of the Firm: Integrating the Role of IT as a Strategic Resource (An Empirical Study of South African Personal Financial Services firms: 1999-2003), Sustainable Solutions Paper: NCR Corporation, Strategic CSR and Value Creation Within Small and Medium Size Businesses. Job specialization. Does the firm have R&D facilities? Job design. "contentUrl": "https://slideplayer.com/slide/6629208/23/images/22/Market+segmentation+strategies.jpg", Job design. Are the firms financial managers experienced and well trained? Auditing II Unit 1 : Audit Procedures Unit 2: Audit of Limited Companies Unit 3: Audit of Government Companies. "width": "800" Job specifications. (or acid-test) ratio. Coordination. Production\/operations. Unity of command. "@context": "http://schema.org", Is the organizations structure appropriate? "@context": "http://schema.org", Selling Products\/services. ", "name": "Marketing Process of defining, anticipating, creating, and fulfilling customers\u2019 needs and wants for products and services. "width": "800" "name": "Stage When Most Important", Most properties located in Las Vegas. Controlling. Firm\u2019s current strategies response to the factor. Assign 1-4 rating to each factor. "contentUrl": "https://slideplayer.com/slide/6629208/23/images/10/Establishing+objectives.jpg", Affirmative action. Staffing. Are company objectives and goals measurable and well communicated? "@context": "http://schema.org", Forecasting. Strategy Evaluation. internal assessment strategic audit powerpoint chapter risk universe annual plan ppt presentation fred concepts anthony slides cases management david th "description": "Functions of Management. "description": "Design of facility. "@context": "http://schema.org", "name": "Production\/Operations", Times-interest earned. }, 41 Brand positioning. E-commerce. "name": "Production\/Operations", "@context": "http://schema.org", Is there a chief information officer or director of information systems position in the firm? }, 12 ", Assessing costs. { "contentUrl": "https://slideplayer.com/slide/6629208/23/images/45/Management+Information+Systems.jpg", Cultural products. Ensure actual operations conform to planned operations. Does the firm have technological competencies? "name": "Cost\/benefit\/risk analysis", { Integrating Strategy and CultureCulture can inhibit strategic management: Miss changes in external environment because they are blinded by strongly held beliefs When a culture has been effective in the past, natural tendency to stick with it in future, even during times of major strategic change Organizational design. Firms current strategies response to the factor, Multiply each factors weight by its rating, Determines the total weighted score for the organization, Highest possible weighted score for the organization is 4.0; the lowest, Average = 2.5, Mandalay Bay (in the previous example), has a total weighted score of 2.75 indicating that the firm is above average in its overall internal strength, Download ppt "Lecture 3 The Nature of an Internal Audit". Weighted. Accounts receivable turnover Average collection periodBasic Financial Ratios Effective use of firms resources Ratios Inventory-turnover Fixed assets turnover Total assets turnover Accounts receivable turnover Average collection period Activity ratios Influencing people to accomplish specific objectives. Average = 2.5. Management. "width": "800" "name": "Functions of Management", Are organizational reward and control mechanisms effective? "name": "Internal Analysis (IFE)", "width": "800" User-friendly. To learn more, view ourPrivacy Policy. "description": "Raw material. "@context": "http://schema.org", ", { audit internal objectives strategic plan incorporate ways into incorporating auditing whether teams must plans check company its april audit strategic "@type": "ImageObject", "@type": "ImageObject", "description": "Job specifications. "name": "Marketing Audit Are markets segmented effectively", "@context": "http://schema.org", Are strategists of the firm familiar with the information systems of rival firms? "@type": "ImageObject", Do managers at all hierarchical levels plan effectively? Does the firm have sufficient working capital? Internal Weaknesses. Do all managers in the firm use the information system to make decisions? Analysis of variances. audit report powerpoint template sketchbubble slide templates ppt presentation results business sample Copyright 2015 Pearson Education, Inc The Internal Assessment The Internal Assessment Chapter Four. Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy. Sum the weighted scores for each. Management Information Systems AuditDo all managers in the firm use the information system to make decisions? "@context": "http://schema.org", "name": "Production\/Operations Audit", Inventory. Product style. Functions of ManagementControlling Ensure actual operations conform to planned operations Debt-to-total-assets Long-term debt-to-equity Times-interest earnedBasic Financial Ratios Extent of debt financing Ratios Debt-to-total-assets Debt-to-equity Long-term debt-to-equity Times-interest earned Leverage ratios Are the organizations R&D personnel well qualified? "width": "800" "name": "Functions of Management", Mandalay Bay. "width": "800" powerpoint charts imaginelayout indicators important }, 46 Extent of debt financing. Cost/benefit/risk analysisMarketing Assessing costs Assessing benefits Assessing risks Cost/benefit/risk analysis Opportunity Analysis Does the firm have good relations with its investors and stockholders? Do managers from all functional areas of the firm contribute input to the information system? }, 2 "width": "800" }, 22 "@context": "http://schema.org", "width": "800" Training. Weight. ", "description": "Basic Financial Ratios. "width": "800" Do managers at all hierarchical levels plan effectively? "contentUrl": "https://slideplayer.com/slide/6629208/23/images/32/Operating+profit+margin+Return+on+total+assets+%28ROA%29.jpg", Discipline procedures. { To use this website, you must agree to our, The Internal Factor Evaluation Matrix (IFE), Coordination and understanding among managers from all functional areas, A firms strengths that cannot be easily matched or imitated by competitors, Building competitive advantage involves taking advantage of distinctive competencies, Strategies designed in part to improve on a firms weaknesses and turn to strengths, Pattern of behavior developed by an organization as it learns to cope with its problem of external adaptation and internal integrationis considered valid and taught to new members, May represent a strength or weakness of the firm. "@type": "ImageObject", "contentUrl": "https://slideplayer.com/slide/6629208/23/images/15/Functions+of+Management.jpg", { Research and Development AuditDoes the firm have R&D facilities? Is the firms system being improved? Testing. Are inventory-control policies and procedures effective? Market segmentation strategies. { "contentUrl": "https://slideplayer.com/slide/6629208/23/images/8/Stage+When+Most+Important.jpg", We think you have liked this presentation. Facilities planning. By using our site, you agree to our collection of information through the use of cookies. 9001 prinsip smm produktivitas thinkpalm principle Bridge between present and future. "@type": "ImageObject", departmental audit internal Building competitive advantage involves taking advantage of distinctive competencies. Expense control. strategy formulation wheelen Sales. "width": "800" Functions of ManagementOrganizing Achieve coordinated effort Defining task and authority relationships Departmentalization Delegation of authority To view this video please enable JavaScript, and consider upgrading to a web browser that "width": "800" }, 39 Quick. Is the organizations structure appropriate? "@context": "http://schema.org", { Support all business functionsMarketing Data collection Data input Data analysis Support all business functions Marketing research Controlling. Return on stockholders\u2019 equity (ROE) Earnings per share. audit marketing diagram powerpoint templates presentation ppt sales business slidehunter creative presentations communication ginva advertisement "description": "Organizational Culture \u2013 Pattern of behavior developed by an organization as it learns to cope with its problem of external adaptation and internal integration\u2026is considered valid and taught to new members. audit auditing process gemt fra }, 36 Marketing Customer analysis Selling products/servicesProduct and service planning Marketing research Opportunity analysis Are data in the information system updated regularly? "contentUrl": "https://slideplayer.com/slide/6629208/23/images/9/Functions+of+Management.jpg", Leadership. Materials handling. "name": "Functions of Management", Controlling Quality control Financial control Sales controlInventory control Expense control Analysis of variances Rewards Sanctions Management Controlling "@type": "ImageObject", "description": "Financial ratios. "@context": "http://schema.org", "contentUrl": "https://slideplayer.com/slide/6629208/23/images/24/Product+features%2Foptions+Product%2Fservice+planning.jpg", }, 47 "description": "TOTAL (including Strengths) Recent loss of joint ventures. Test marketing. Are marketing planning and budgeting effective? ", Queuing analysis. Organizational change. Marketing research. Internal Analysis (IFE).15 3 .05 Financial ratios Reputation as family-friendly .20 4 Long-range planning Minimal comps provided Buffets at most facilities Strong management team .60 Owns 1 mile on Las Vegas strip Increasing free cash flows .40 .10 Room occupancy rates over 95% Largest casino company in world Weighted score Rating Weight Mandalay Bay Internal Strengths "contentUrl": "https://slideplayer.com/slide/6629208/23/images/7/Integrating+Strategy+and+Culture.jpg", Finance\/accounting. "name": "Debt-to-total-assets Long-term debt-to-equity Times-interest earned", If outside R&D firms are used, are they cost effective? "contentUrl": "https://slideplayer.com/slide/6629208/23/images/39/Production%2FOperations.jpg", "width": "800" Improve performance of an enterprise by improving the quality of managerial decisions. Are company objectives and goals measurable and well communicated? "@type": "ImageObject", "contentUrl": "https://slideplayer.com/slide/6629208/23/images/6/Integrating+Strategy+and+Culture.jpg", audit "contentUrl": "https://slideplayer.com/slide/6629208/23/images/2/Nature+of+an+Internal+Audit.jpg", Are capital budgeting procedures effective? "name": "Basic Financial Ratios", "description": "Does the firm use strategic-management concepts Are company objectives and goals measurable and well communicated Do managers at all hierarchical levels plan effectively Do managers delegate authority well Is the organization\u2019s structure appropriate Are job descriptions and job specifications clear Is employee morale high Are employee turnover and absenteeism low Are organizational reward and control mechanisms effective", "name": "Internal Analysis (IFE)", "@context": "http://schema.org", "@context": "http://schema.org", Workforce. Work measurement. audit internal iso strategy planning auditors Net profit margin. "description": "Culture can inhibit strategic management: Miss changes in external environment because they are blinded by strongly held beliefs. Organizational design. "width": "800" "contentUrl": "https://slideplayer.com/slide/6629208/23/images/13/Functions+of+Management.jpg", Are organizational reward and control mechanisms effective? Facility layout. Organizing Organizational design Job specialization Job descriptionsJob specifications Span of control Unity of command Coordination Job design Job analysis Organizational design Job specialization Job descriptions Job specifications Span of control Unity of command Coordination Job design Job analysis Organizational design Job specialization Job descriptions Job specifications Span of control Unity of command Coordination Job design Job analysis Organizing Organizing Organizing "contentUrl": "https://slideplayer.com/slide/6629208/23/images/20/Marketing+Process+of+defining%2C+anticipating%2C+creating%2C+and+fulfilling+customers%E2%80%99+needs+and+wants+for+products+and+services..jpg", { "@type": "ImageObject", Management. Growth ratios. Are marketing planning and budgeting effective? "name": "Support all business functions", ", Are the firm's products/services priced appropriately? supplier management audit performance practices practice relationships chain business relationship plan into use technology six discover learn logistics supply insight Are present channels of distribution reliable and cost effective? { "width": "800" "name": "Production\/Operations", "name": "Finance\/Accounting Audit", Deciding how many successful new products are needed. }, 48 "@type": "ImageObject", Internal Analysis (IFE)Five-Step Process: List key internal factors (10-20) Strengths & weaknesses Assign weight to each (0 to 1.0) Sum of all weights = 1.0 Assign 1-4 rating to each factor Firms current strategies response to the factor Multiply each factors weight by its rating Produces a weighted score Sum the weighted scores for each Determines the total weighted score for the organization Highest possible weighted score for the organization is 4.0; the lowest, Average = 2.5