Despite the benefits associated with evaluation they can also have negative consequences especially for publicly traded companies. If an evaluation reveals that there are internal problems in an organization this could have an adverse effect in the price of the common stock. 2. The resource based view (RBV) is a method for analyzing and identifying a corporation’s strategic advantages by evaluating the combination of its assets, skills, capabilities, and intangibles (Pearce & Robinson, 2011). The application of resourced based view can help a company enhance the functionality of a SWOT analysis. For instance a company can use the RBV to determine the value of the branding value of a company. Knowing if the company has good brand value can help in the evaluation of the opportunity section of the SWOT analysis. Opportunities for international expansion are easier to achieve for companies that have develop branding in their domestic markets. The internal weakness section of the SWOT analysis can benefit from RBV because this method can help the manager determine how valuable the tangible assets of the firm are. If for instance the RBV determined that a lot of machinery been used for production are obsolete, the firm must invest in new machinery to eliminate that weakness. Pearce, J, Robinson, R. (2011). Strategic Management: Formation, Implementation, and Control (12th ed.). New York: McGraw Hill Company. 3. The use of value chain analysis can improve a SWOT analysis because it breaks down the firm into distinct value activities that allow for a detail interrelated evaluation of a firm’s internal strengths and weaknesses (Pearse & Robinson, 2011). Identifying the limitation of SWOT is very useful because it can prevent managers from making a lot of common mistakes associated with the implementation of the technique. For example one of the weaknesses of SWOT is that it can overemphasize internal strengths and downplay external threats (Pearce & Robinson, 2011). An example of a downplaying of an external threat could be not taking seriously a new competitor that enters the industry. If the competitor brings better prices, service, and value they will steal customers away from your firm. Pearce, J, Robinson, R. (2011). Strategic Management: Formation, Implementation, and Control (12th ed.). New York: McGraw Hill Company. 4. I agree with you that evaluations can be used to take corrective actions. A few years ago I worked at a company that could have benefited a lot from an evaluation. The business was set up in a way in which one contract serve as the primary source of all the revenues of the firm. This client helped the company build the infrastructure of the start-up company and it helped in the initial training of employees. After the representative of the client left the premises of the company the managerial staff began a destructive behavior that eventually led to the downfall of the firm. The company stopped paying workers on time, it stole hours from the payroll, and it not honored a bonus system that increased the pay of the workers up to $5.50 an hour. If the client would have audited the firm and performed internal evaluations of the firm the company would have had a greater chance of succeeding. 5. I agree with you that one of the detriments of evaluation is that it can discourage the workers of an organization if the results are poor. The bad
1. An organization evaluation can be beneficial in a variety of ways. When a company performs an internal evaluation of a company the results of the evaluation can provide managers with very valuable information. The evaluation can help a company identify weaknesses that must be attended in order to improve the operation of the company…
In an internal audit article published by the Kansas State University, the discourse on internal controls has clearly indicated that there are four purposes of internal control systems, to wit: “(1) protecting its resources against waste, fraud, and inefficiency; (2) ensuring accuracy and reliability in accounting and operating data; (3) securing compliance with the policies of the organization; and (4) evaluating the level of performance in all organizational units of the organization” (Kansas State University par.
A list of ten benefits of project management is illustrated below: 1. Better efficiencies in developing services 2. Improved customer retention 3. Enhanced effectiveness in delivering services 4. Improved growth within your team 5. Greater competitive edge 6.
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An example of an unethical practice is changing depreciation methods without a justification and without including the change in the notes to the financial statements of the company for the purpose of altering the actual financial performance of a company.
Project Technical Planning is a series of successful steps or a sequence of successful steps that leads a project towards a successful completion (Kerzner, 2006). As we talk about the problems and troubles with the project
Based on the category I choose the top five eBooks are The Kuma Sutra, The Adventures of Sherlock Holmes, Pride and prejudice, Alice’s adventure in Wonderland, and Ulysses. In the website there was data concerning the total amount of books downloaded the
The products sold by the competition are all similar. During team meetings the employees discuss ways improving the profits of the firm. Market forces in our marketplace controls price. The law of supply and demand forces equilibrium prices in the marketplace.
The terminology of sample and population must be understood well prior to designing the experiment. Academic theory is important for professionals in all fields of study. A person that does not utilize theory in
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