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I must defend or argue the following position: Wheelen, Hunger, and Hoffman (2018) offer a framework allowing any company to conduct a strategic audit.

Can you provide an outline for this paper?

Answer :

Here is an outline of the strategic audit framework by Wheelen, Hunger, and Hoffman (2018).

I. Introduction

  • Purpose: Conduct a strategic audit to analyze a company's internal and external environment
  • Framework: Identifies strengths, weaknesses, opportunities, and threats (SWOT analysis)

II. Internal Audit

  • Resource Analysis:

Financial resources

Physical resources

Human resources

Technological resources

  • Capability Analysis:

Core competencies

Distinctive competencies

  • Performance Analysis:

Financial performance

Non-financial performance

III. External Audit

  • Market Analysis:

Customer analysis

Competitor analysis

Market trends

  • Environment Analysis:

Economic factors

Political-legal factors

Sociocultural factors

Technological factors

International factors

IV. SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

V. Conclusion

  • Summary of key findings
  • Implications for strategy development

This framework provides a comprehensive structure for conducting a strategic audit, helping companies identify areas for improvement and inform strategic decisions.

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