What are the pros and cons of using the strategic audit as a framework for case analysis?

Question:

What are the pros and cons of using the strategic audit as a framework for case analysis?

Strategic Audit:

A strategic audit estimate the existing business strategies, how appropriate they are for a business, and whether the company is able to implement the strategy. The systematic conduction of a strategic audit is essential to the effectiveness of a business.

Answer and Explanation:

The pros and cons of adopting a strategic audit as a framework for case analysis are discussed below:

Pros:

  • The strategic audit aids to recognize the key areas of the case implicated.
  • It also helps to prepare a direction plan, which means to determine the current position in the case involved and to plan the required strategy.
  • In addition, the strategic audit helps to identify the risks involved and to implement various processes to control and evaluate the case.

Cons:

  • Strategic auditing is a rigorous framework and is not very flexible.
  • The framework requires a proper action plan, which is only possible if the person working has the necessary skills.
  • Moreover, this framework takes time and it is difficult to get all the necessary details.

Learn more about this topic:

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Strategic Thinking vs. Strategic Planning in Business

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Chapter 1 / Lesson 1
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Strategic thinking and strategic planning can both be used in business to create and implement a plan. Learn the difference between these two business concepts, how to use them effectively and why they are important.


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