Friday, January 4, 2019
Strategic Implications of a Swot Analysis
Name Nana Kesewaa Dankwa Index physique-PGDBA/PM/022/0912 EVALUATE THE STRATEGIC IMPLICATIONS OF THE cram ANALYSIS MODEL OF AN ORGANIZATION OF YOUR CHOICE. existence Strength, Weaknesses, Opportunities and Threats ( jampack) Analysis is an important device for visit and epitome of the overall strategic eyeshot of an system and its surround. It aims to elicit tactics which allow foring generate an organisation specific running(a) posture that will trump appear align an organizations resources and capabilities to the requirements of the purlieu in which the firm operates (www. anagementstudyguide. com). Therefore, for any organisation to croak and carry through its mandate, it needs to strategically and aptly undertake a jampack analysis of its surround to fashion out activities which will enable it pursue and achieve its thrill and vision. The inhering size up theatrical performance The organisation selected for this assignment is the essential scrutinize proc edure (indoleacetic acid). The indoleacetic acid was established by the Internal Audit room behave 2003 ( interpret 658).The meanss c are is to exercise heed responsibility over intrinsic examine practice in the unexclusive operate by setting standards, providing quality sureness and supporting capacity building for ripe(p) corporate governance, makeive risk centering and controls through highly skilled and make workforce. Its vision is to be a centralise of Excellence in Africa in promoting best practices in inner visited accounting. The strategies adopted by the government agency to achieve its set objectives embroil 1.Effectively promoting natural examine practice in Ministries, Departments and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs) 2. Increasing prevalent access to information on familiar audit activities 3. Creating a congenial environment for high performance work in the Internal Audit Agency 4. amend good governance and accountability in MDAs and MMDAs SWOT Analysis Model of the Internal Audit Agency StrengthsWeaknessesOpportunitiesThreats Congenial affinity between Board, management and supplyConducive work environment Approved Scheme of ServiceLow morale of rung due to improper placement tide over of the Presidency levelheaded backing for indoleacetic acid work Independent Judiciary nice human relationship with central management agencies (CMAs)Lack of around-the-clock political commitment Poaching of national audit skills by other institutions. spirited quality of staff (competence and qualifications) Proactive leadership Supportive Board Youthful and expeditious staff Cordial working relationship Good corporate image wretched training for staffInadequate share accommodation Inadequate Staff numbers game Govt committed to developing internal audit function Appreciable number of subordinate personnel available in gold coast Goodwill of suppliers and service providers Internatio nal credit entry Availability of curricula for training internal auditors in tertiary institutions. Poaching of key staff from IAA Publicity on electronegative activities by staff of Internal Audit Units (IAUs) The perception that corrupt practices are rule Misconception of the role of IAUs.INTRANET facilitates communication within IAA INTERNET facilitates communication of IAA with the foreign world Availability of ICT Tools Availability of a websiteHigh downtime for office equipment. Non-availability of electronic recording equipment Inadequate &038 outdated ICT equipmentPotential to Network with all MDAs and MMDAs. rising technologies to facilitate conduct of internal audit functions (e. g. Audit Software) Implementation of GIFMISComputer Viruses &038 FraudsPoor ICT infrastructure and geographical spread of MDAs and MMDAs Frequent power outages. Legal mandate by an Act of Parliament, Act 658 Availability of conditions of serviceLack of enforcement powers. High demand by MDA s and MMDAs to get services of internal audit Legislation in areas such as labour, compensation and health and safety Non-transmittal of IAA Annual Report to Parliament softness to enforce prosecution of liable public service staff Inadequate chest to enforce implementation of audit recommendationsStrategic Implications of the SWOT Analysis model of the Internal Audit Agency The Internal Audit Agencys SWOT Analysis model was done to be able serve wellhead the AGENCY ACHIEVE ITS OBJECTIVES . it is legally mandated to achieve its Now the strategies of the agency were drawn out the swoty analysis done the agency force all its strengths The strategies of the IAA have been explicate to assist the organisation achieve its mission and vision. These strategies have been designed taking cognisance of the objectives defined for the Agency in Act 658.The SWOT analyses undertaken by the IAA adequately scan the Agencys environment and have appropriately ascribed both international and int ernal environmental issues. The Agencys SWOT model has captured detailed internal and external environmental issues which would place the Agency in a proper authority to adequately pursue and achieve its intention and objectives with minimal adversity and a well prepared system as it has evaluate all the positive and negative internal and external issues which could respectively support or derail its efforts towards achieving its objectives.However, the Agencys SWOT model is highly subjective as these strengths, weaknesses, opportunities and threats are based massively on the perceptions of the staff undertaking the exercise. The methods of identifying these environmental issues are not scientific as the Agency failed to provide any basis to that effect in their strategic plan for 2011- 2015. inference SWOT analysis is a right on tool for the systematic analysis of internal and external environments of an organization. It aids in efficaciously identifying problems and drawing lines of future actions to eliminate or ameliorate these problems.
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