Analyzing the business environment best assists in Identifying key competitive forces; identifying competitive position; identifying key opportunities, threats, strengths and weaknesses. Auditing macro environmental influences; identifying key competitive forces; identifying competitive position; identifying key opportunities and threats. Auditing external and organizational factors; identifying key competitive forces; identifying competitive position; identifying key opportunities and threats. Assessing historical trends; auditing environmental dangers; identifying strategic capabilities; identifying competitive position

Analyzing the business environment best assists in

Business Strategy: Evaluate the Company’s business strategy model to assess the competitivelandscape and industry dynamics. Evaluate the Company's core competencies, competitive advantages, andpotential growth opportunities. Identify any ethical dilemmas that may arise in the Company's recent operations,identify the fundamental principles violated, explore alternative solutions, andrecommend a suitable solution

Which of the following is not one of the questions that must be answered in thinking strategically about a company’s external environment?Multiple ChoiceWhat kinds of competitive forces are industry members facing, and how strong is each force?What market positions do industry rivals occupy—who is strongly or weakly positioned, and who is not?What are the strategically relevant factors in the company’s macro-environment?What are the company’s competitively valuable resources and capabilities that can be used to form the foundation of its competitive approach?What forces are driving changes in the industry, and what impact will these changes have on competitive intensity and industry profitability?

The following Table outlines various industry factors that may be relevant to the audit.Identify the potential business risk that the auditor would be most concerned about on each of the audits.Audit Factor Audit Client Details1. Competition A clothes retailer operates in a highly price‑competitive industry.2. Demand Greater consumer awareness of the impacts of conventional farming practices has increased demand for products from a small organic dairy farm.3. Seasonality A ski resort in Queenstown, New Zealand experiences seasonal demand as tourists visit during the winter ski season.4. Commodity Airline companies are highly dependent on jet fuel commodity prices, which are subject to volatility Group of answer choicesRecorded revenues.Increased technology costs.Negative cash flows.Negative cash flows.Valuation of Inventory.Recognition of revenues.Recognition of revenues.Commodity pricing.Valuation of Inventory.Meeting increased consumer demand.Going concern red flag.Commodity pricing.Operating profit margins.Increased demand for dairy products.Going concern red flag.Negative cash flows.Operating profit margins.Increased demand for dairy products.Negative cash flows.Declining working capital.

Objectives of Marketing Audit 1.Marketing Functions 2.Marketing Environment 3.Marketing Strategy 4.Marketing Productivity 5.Marketing Systems 6.Marketing Organisation