Using Management Audits and SWOT Analysis
Focusing on priorities
“A complex decision is like a great river, drawing from its many tributaries the innumerable premises of which it is constituted.” (Herbert A. Simon)
A management audit is a practical, systematic analysis of an organization’s strategies, policies and processes. Audits identify problems and potential difficulties at an early stage, highlighting strengths that can be developed further.
Management audits can be broken down into functional audits such as personnel, production, finance and marketing audits. However, the most popular and valuable type of functional audit is an analysis of the organization’s internal strengths and weaknesses in relation to its external opportunities and threats: a SWOT analysis.
The advantages of regular (although not excessive) audits and SWOT analyses are clear: they help to focus the organization so that resources can be efficiently allocated; they enable the organization to stay in touch with reality – what people actually think, how and why things are really working. They highlight the areas of greatest success and the causes of profitability, not just at a superficial level but, when done thoroughly, at a level of detail that is often invaluable for the future.
This toolkit explains how to succeed with audits and SWOT analysis.
Length: 11 pages
Contents
The Benefits
Action Checklist: Undertaking Management Audits
Consider the relevant issues
Decide timing
Follow the auditing process
Best Practice: Conducting a SWOT Analysis
Avoiding Problems – this section includes techniques to avoid potential pitfalls and problems with audits and SWOT analyses.
Dos and Don’ts
Key Questions
Things You Can Do
Discuss which resources (people, physical, technological, financial) are most important to achieving business goals
Understand how resources interrelate
Prepare and implement a plan outlining how you will build the resources you need
Adopt a market sensing approach
Further Action
Further Information
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