Assignment

Chapters Three & Four Reflection

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Chapter Three: The External Assessment

The chapter focuses on fundamental aspects of external auditing in management for strategic management. The concepts of the section include external strategic- evaluation management, external forces, sources of external information, forecasting tools, importance of the external trending evaluation, EFE matrix, competitive profile, corporation among the competitor and, market commonalities. In the reading, I found the presentation of the external forces as appealing. For instance, the classification of external factors in an external examination such including, economic, Socio-cultural, political, technological, and competitive are the external backbone assessment in strategic projects and business management (David F, 2011). In particular, the concept of technical and competitive forces analysis provides both advancements in performance and profitability in management. The competitive advantage strategies such as business-level strategy establish a robust organizational structure. Similarly, the technological application such as IoT, Blockchain leverages, strategic management in project operation. Thus, the chapter expands my knowledge of external forces in the external appraisal.

Chapter Four: The Internal Assessment 

The section provides a detailed appraisal of the firm’s positive and negative drivers in functional business areas such as management, finance, marketing, operation R&D, and information governance (David F, 2011). In my interaction with the section, the information management system sector establishes a fundamental concept since I can relate the occurrence with real-time strategic management and internal assessment concerns. For instance, the idea of strategic software planning and management information system audit establishes essential concepts in firms, a functional operation such as production, finance, and information governance. In particular, the administration of information system audit asks a fundamental question concerning data that relates to data efficacy, safety security, and overall cyber-security architecture. Therefore, the chapter reading provides an extensive understanding of the information governance system within the internal audit.

Reference

David, F. (2011). Strategic Management: Concepts and Cases. (13th Ed.). Pearson: ISBN 13: 978-0-13-612098-8