Understanding the client - strategic analysis Flashcards
1
Q
examples weak strategic management
A
- poor design of strategy
- mismatch of process/resources with strategy
- lack of flexibility
2
Q
key objective strategic analysis
A
- understand how client adds economic value and the use of business processes to achieve this
- how client identifies and reacts to external threats/risks (gaps in risk management)
- effect on financial statements
3
Q
components strategic analysis
A
- understand objectives and strategy
- identify strategic business risks
- assess control environment
- select critical processes
4
Q
understand the strategy
A
- PEST analysis (political, economic, social, technological)
- porter 5- forces
- generic strategies (cost leader, differentiate)
5
Q
dimensions prioritize risks
A
- magnitude of potential risk
- likelihood of potential risk
6
Q
business risk response
A
- management control systems
- managmeent controls
7
Q
management control systems
A
system maintain/after pattern in organizational activity
8
Q
management controls
A
activities by senior management to mitigate strategic risks to the organization … promote decision making and efficiency of business activities
