Writer's choice Assignment Example | Topics and Well Written Essays - 250 words - 6

Writer's choice - Assignment Example It can also be used to assess whether or not high-priority objectives in the strategic plan are being achieved. In some cases, especially large organizations that have complex processes and relationships, a strategic audit can be employed in monitoring changes in the external environment and providing clues as to areas that need improvement. For some firms, a strategic audit is an instrument for fine-tuning effective corporate strategies with the intention that it continues supporting minor internal and external changes that can occur. Overall, a strategic audit is a vital and almost irreplaceable aspect of organizational strategy and success. If used correctly, it is a source of competitive advantage because it allows companies to understand their strategic orientation and measure it against its internal and external environment to provide a clear view of current and future operations (Gong, 2013). Previous and current research has shown that effective and efficient strategic audits are directly proportional to organizations’ understanding of their markets and competitors. As an enterprise expands, strategic audit becomes increasingly important as it becomes more interconnected with performance and market