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.
