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Article

Open Access

The Audit of Business Strategy

Author(s)

Tamás Kozák, Szilvia Szántó

Full-Text PDF Download XML 530 Views

DOI:10.17265/2328-7144/2017.04.004

Affiliation(s)

University of Applied Businesses, Budapest, Hungary

ABSTRACT

The strategy audit involves evaluation of the actual direction of a business and comparing that act to the direction required to succeed in a changing environment. A company’s actual direction is the sum of what it should and should not do, how well the organisation is internally aligned to support the strategy, and how viable the strategy is when compared to external market, competitor and financial realities. These categories, the internal assessment, and the external or environmental assessment, make up the major elements of a strategy audit. In this paper, it presents such a methodology which ensures an integrated process to evaluate the company’s business strategy.

KEYWORDS

strategy, risk, analysis, external, internal environment, resources

Cite this paper

Economics World, July-Aug. 2017, Vol. 5, No. 4, 316-321 doi: 10.17265/2328-7144/2017.04.004

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