Assignment: STRATEGIC AUDIT GUIDE

STRATEGIC AUDIT GUIDE

Assignment: STRATEGIC AUDIT GUIDE

STRATEGIC AUDIT GUIDE

OVERVIEW – Provide a brief history and overview of the firm that will provide context for the strategic audit.

      I.     CURRENT SITUATION

1. Current Performance

Discuss the performance of the corporation over the past year in terms of ROI, market share, and profitability.

1. Strategic Posture

(!) Important: In this section, keep in mind the following flow:

Vision/mission leads to objectives.  Objectives are achieved through strategies.  Strategies are supported by policies.

1. Vision – Identify the present vision of the corporation and specify whether it is explicitly stated or implied.
2. Mission – Identify the present mission of the corporation and specify whether it is explicitly stated or implied.

(!) Important: To be effective, a mission statement should address three factors:

• WHAT need is being satisfied – Defines the products or services.
• WHO is being satisfied – Defines markets or customer groups.
• HOW customer needs are satisfied – Defines the technologies used and the functions performed.

3. Objectives – Identify the present objectives of the corporation. In this discussion, both financial and strategic objectives should be identified.
4. Strategic Objectives – These objectives involve a corporation’s competitive strength and market position.

Examples of Strategic Objectives

• A bigger market share
• Lower costs relative to key competitors
• Broader or more attractive product line than rivals
• Increased ability to compete in international markets
• Expanded growth opportunities

(!) Important: Both financial and strategic objectives should include timeframes (e.g., “lower costs relative to key competitors by the fourth quarter of 2004.”)  A company should have both short-run and long-run objectives:

• Short-run Objectives – Target performance levels to be achieved soon (usually within a year).
• Long-run Objectives – Target performance levels to be achieved later (within three to five years).

1. Financial Objectives – These objectives involve financial performance targets. Financial objectives can be specific or general:

STRATEGIC AUDIT GUIDE Examples of Financial Objectives

• Achieve revenue growth of 10% per year
• Increase earnings by 15% annually
• Increase dividends per share by 5% per year
• Boost annual returns on invested capital from 15% to 20%
• Improvement in bond and credit ratings

4. Strategies – Identify and present the strategies of the corporation. Strategies should be presented in order of their hierarchical significance (as listed here):

1. Corporate-Level Strategy – Selection and organization of business units in order to gain and sustain competitive advantage (see Strategic Management 5^th, chap. 6). Embodied in levels and types of diversification:

• Low Levels of Diversification

• Single Business – More than 95% of revenue comes from a single business.
• Dominant Business – Between 70% and 95% of revenue comes from a single business.

• Moderate to High Levels of Diversification

• Related Constrained – Less than 70% of revenue comes from the dominant business. All business units share product, technological, and distribution links.
• Related Linked – Less than 70% of revenue comes from the dominant business. There are only limited links between the businesses.

• Very High Levels of Diversification

• Unrelated – Less than 70% of revenue comes from the dominant business. There are no common links between the businesses.

(!) Important: Corporate-level strategy should increase the firm’s value by enhancing its ability to earn above-average returns.  Identify if this is occurring with the present strategy, and if so, how?

1. Business Strategies – Exploiting core competencies to achieve competitive advantage in specific product markets (see Strategic Management 5^th, chap. 4).

1. Generic Strategies

• Cost Leadership – Providing goods or services with acceptable features at lowest cost relative to competitors. Example: Wal-Mart.
• Differentiation – Providing goods or services that are perceived to be substantially different with respect to what is valued by customers. Example:
• Focused Cost Leadership – Cost leadership, as defined above, that is focused on a particular competitive segment. Example: Crystal.
• Focused Differentiation – Differentiation, as defined above, that is focused on a particular competitive segment. Example: Porsche.
• Integrated Cost Leadership / Differentiation – Simultaneously providing cost leadership and differentiation. Example: Southwest Airlines.

1. Competitive Strategies – Ongoing posturing against firms operating in the same market (see Strategic Management 5^th, chap. 5).

• Offensive (Strategic Actions) – Designed to build competitive advantage or improve market position.
  • Frontal – Direct forward attack on the competition.
  • Flank – Attacking the competition from the side (where there is weakness).
  • Blue Ocean – create a new industry
  • Preemptive (nuke) – All-out attack designed to completely neutralize the competition. Characterized by surprise and totality.
  • Others: First Mover, Expansion, Vertical Integration, Acquisition
• Defensive (Strategic Response) – Designed to defend competitive advantage or recover market position. Examples: Guerilla Strategy, Retrenchment, Harvest, Liquidation, Second/Late Mover, Market follower
• Are relatively easy to implement and reverse.

Example: A local company would be acting strategically if it built a dozen new gas stations in a city.  One of the stations could then act tactically if it lowered the price of each of its grades by a penny.

1. Functional Strategies – Strategies that optimize business functions such as HR, manufacturing, marketing, R&D, etc. (May be omitted here if not critical to strategic analysis).

1. Operational Strategies – Strategies that optimize the day-to-day operations of the organization. These are typically implemented at the departmental level. (May be omitted here if not critical to strategic analysis).

5. Policies – Identify and present any policies that are necessary to sustain the current strategies of the company.

Example: A business unit has chosen the generic business strategy of differentiation.  It differentiates itself through superior customer service.  Any significant policies concerning the superior treatment of customers should be noted e.g. not saying “no” directly to a customer.

In addition, note any other key policies of the organization.  Examples: Affirmative action, safety, security, quality, ethics, social responsibility, sexual discrimination policies, minority and women-owned businesses etc.

    II.     CORPORATE GOVERNANCE (short paragraph)

1. Board of Directors – Evaluate the directors in terms of the following questions (see Strategic Management 5^th, chap. 10):

• Are the members of the board internal or external?
• What contributions does the board make in terms of knowledge, skills, background, and connections? What are the strategic implications of these contributions?
• What is the board’s level of involvement with strategic management?

1. Top Management – Evaluate the management team and identify the key players with respect to strategic management. Identify any key contributions.
2. Provide an organizational chart in an appendix (if available).

 III.     EXTERNAL ENVIRONMENT: OPPORTUNITIES & THREATS (SWOT)

1. Societal Environment – What general environmental forces are currently affecting both the corporation and the industry in which it competes? Which of these forces represent current or future opportunities?  Which of these forces represent current or future threats? (See Strategic Management 5^th, chap. 2). Provide analysis on each that force below that affects the firm in a major way (PESTEL)
   1. Political
   2. Economic
   3. Sociocultural
   4. Technological
   5. Environmental
   6. Legal
2. Competitive Forces – Analysis of Porter’s five competitive forces.
3. Threat of new entrants
4. Bargaining power of buyers
5. Threat of substitute products or services
6. Bargaining power of suppliers
7. Rivalry among competing firms

(!) Important: As each of the forces is discussed, rank it on a scale of 1 to 5, where 1=Weak and 5=Strong.

1. Driving Forces – Identify and discuss external forces outside the control of the firm that can profoundly change the environment in which the corporation competes. Analyze why it qualifies as a driving force.

STRATEGIC AUDIT GUIDE Example of Driving Forces

In the last twenty-five years, two driving forces have dramatically affected the telecommunications industry:

• Deregulation – The divestiture of AT&T in 1984 and the Telecommunications Act of 1996 profoundly changed the competitive environment of the telecom industry.
• Digitalization – Digitalization has dramatically changed the cost, ease, and clarity associated with the transmission of voice traffic all over the globe.

1. Strategic Group Map – Construct a strategic group map that displays the different competitive positions rival firms occupy in the industry. See Appendix A of this document for information on how to construct a strategic group map.

(!) Important: For the corporate audit, a separate strategic group map may be required for each significant business unit.

Interpretation: Look for strategic groupings of competitors around the subject firm.  Proximity indicates rivalry and, consequently, the competitor(s) that will most likely take the next competitive action.  The sample map presented in Appendix A indicates that competitors “C” and “D” are posing the greatest threat to the subject firm.

Present the strategic group map in an appendix and provide analysis.

1. Boston Consulting Group Matrix (corporate audit only) – A Boston Consulting Group Matrix is used to analyze the corporation’s business unit portfolio. The construction of this matrix is described in Appendix B. Each business unit should be analyzed in terms of which quadrant it occupies:

• Stars – These are business units in high growth industries with a relatively strong market share. The corporation will generally want to leave stars where they are, recognizing that as the market matures, they will eventually become cash cows.
• Cash Cows – These are generally successful business units in mature markets. They should be managed for continued profitability.  Their strong cash flows can be used to sustain the starts or convert question marks to stars.
• Question Marks – These are business units with relatively low market share in high-growth industries. The corporation must decide whether these units can be converted to stars.  When the market matures:
  • If they have been converted to stars, then they will become cash cows.
  • If they remained question marks, then they will become dogs.
• Dogs – The corporation should generally divest itself of business units that fall into this quadrant.

Present the BCG matrix in an appendix.  Discuss the strategic implication of the business unit positions, etc.

1. Competitor Analysis – Synthesize the external environment discussion up to this point into a coherent competitor analysis. Suggest which competitor or competitors will make the next moves – and the nature of those moves. This may require some creativity on your part.  Do not be afraid to make assumptions and provide a coherent analysis.
2. Key Success Factors – What are the major factors that will result in the success or failure of any firm in the industry? Provide analysis as to why they are key success factors.

(!) Important: Key success factors should begin with a verb.  Examples:

• Attract and retain a technically competent workforce that…
• Develop effective distribution channels that…

1. Industry Attractiveness – Analyze the attractiveness of the industry and the prospects for above average profitability.
2. Assignment: STRATEGIC AUDIT GUIDE

 IV.     INTERNAL ENVIRONMENT: STRENGTHS & WEAKNESSES (SWOT)

1. Corporate Structure – Discuss the present corporate structure. Include an analysis of how effective it is. Include in the discussion the following:
2. Decision-making Authority – Discuss whether decision-making is centralized or decentralized.
3. Organizational structure – Discuss the organizational structure of the corporation (see Strategic Management 5^th ed., chap. 11).
4. For diversified firms, consider the following corporate-level structures:

• M-form (multidivisional) Cooperative – Interdivisional cooperation achieved through horizontal integration. Divisions across entire organization share resources.  This structure typically accompanies a related-constrained diversification strategy.
• M-form SBU – Individual SBUs operated independently of each other. Divisions within SBUs share resources, but SBUs do not typically share resources with each other.  This structure typically accompanies a related-linked diversification strategy.
• M-form Competitive – Complete independence between all divisions. Divisions compete for corporate resources.  This structure typically accompanies an unrelated diversification strategy.

1. For non-diversified firms or for structure within SBUs consider the following structures:

• Functional structure – Structure around business functions such as accounting, marketing, operations, etc.
• Divisional structure – Structure around commonality in areas such as:
  • Product
  • Geography
  • Customer
  • Process
• Matrix – Combines functional and divisional approaches with a focus on project or program teams.

1. Corporate Culture – Discuss the present corporate culture. Analyze how important it is in terms of accomplishing the company’s mission etc. Include:
2. Is the corporate culture weak or strong?
3. What kind of culture is it? Consider the following matrix (Reference: Hellriegal)

• Clan Culture (human relations emphasis)
  • Characterized by involvement, empowerment, and participation.
  • Focus on needs of employee as a path to higher performance.
  • Ownership and responsibility create a greater commitment to organization.
  • Values e.g. Takes care of employees; satisfied workers.

STRATEGIC AUDIT GUIDE Example: Southwest Airlines

• Adaptability Culture (open systems emphasis)
  • Encourages entrepreneurial values, norms, and beliefs.
  • Seeks to create change and respond quickly to the environment.
  • Values e.g. creativity; risk-taking

Example: 3M

• Bureaucratic Culture (internal process emphasis)
  • Encourages a methodical approach to business.
  • Low levels of personal involvement and ownership.
  • High levels of consistency and conformity.
  • Values e.g. cooperation; mutual support

STRATEGIC AUDIT GUIDE

Example: Internal Revenue Service

• Mission Culture (goal emphasis)
  • Characterized by clear vision of organizational purpose.
  • Focus on metrics for evaluating performance.
  • Values e.g. competition; efficiency

Example: General Electric

1. Corporate Resources

(!) Note: For the corporate audit, depending on the structure of the organization, some resources may need to be discussed with respect to each division, SBU, etc.  The finance section should be kept at a corporate level with all ratios calculated using consolidated numbers.

                        Resources to be discussed:

1. Marketing – Provide an analysis of the following:
   1. Marketing objectives
   2. Marketing strategies (general)
   3. Market strategy (specific) – Consider the segmentation approach below:
      1. Mass-Market Strategy – No segmentation. Firm or business unit goes after the entire market.  Example: Wal-Mart.
      2. Large Segment Strategy – Firm or business unit pursues the largest segment.

• Adjacent Segment Strategy – Firm or business unit pursues a segment, and then once it saturates in that segment, it pursues an adjacent segment. Example: Toyota starting with the Tercel and progressively moving through the Corolla, Celica, Camry, etc. all the way to the Lexus line.

1. Multi-Segment – Firm or business unit segments market, and then pursues multiple segments simultaneously.
2. Small Segment Strategy – With relatively limited resources, a firm or business unit may pursue a small segment that larger competitors ignore.
3. Niche Segment Strategy – Firm or business unit pursues a very specialized segment (associated with very high levels of product differentiation).

• Mass Customization – Firm attempts to address every customer’s needs through rapid manufacturing of customized products. Example: Dell’s potential customization of every ordered computer.

1. Marketing Mix – Consider the elements of the marketing mix and their strategic implications.
   1. Product – What is the product? How is the product or service positioned with respect to customer needs?  Is the product or service consistent with the respective generic business strategy?
   2. Price – How is the product or service priced (cost-based or market-based)? If the respective generic business strategy is cost leadership, is the pricing competitive?

• Place – What are the channels and distribution points for the product? Are they adequate for the firm or business unit to effectively compete?

1. Promotion – How is information about products or services communicated to the customer?
2. Finance
   1. Financial Situation – Expand on the current performance discussion in Section I. Provide in-depth analysis.
   2. Ratios – Perform ratio analysis on the organization’s consolidated financial information. The ratios can be calculated from financial statements or pre-calculated ratios can be used from a source such as Hoover’s

Refer to the financial ratio supplement.  Your analysis should include any of the listed ratios that are relevant to the strategic financial position of the organization.  At minimum the analysis should include:

• Liquidity
  • Current Ratio and/or Quick Ratio
• Profitability
  • Return on Investment
  • Return on Equity
• Leverage
  • Debt to Asset Ratio
  • Debt to Equity Ratio
  • Times Interest Earned
• Other
  • Price/Earnings Ratio

For each of the ratios the following should be provided:

• The value for the most recently closed fiscal year, and, at a minimum, the value for the fiscal year prior to that.
• The industry average value for the most recent available year for the specific ratio. If an industry average is not available, then substitute the value for a comparable competitor in a comparable fiscal year (note that this substitution has been made).

(!) Important: Along with presenting the ratios, it is critical that they are analyzed.  Explain why they are what they are.  This is especially important when there is a substantial deviation from the industry average.

(!) Important: When presenting, do not put all  ratios on one slide!  Present them individually, or group them on a slide by category (e.g. two or three liquidity ratios on a slide, two or three profitability ratios on the next slide).

1. Altman’s Z – Calculate the relative solvency of the firm using Altman’s Bankruptcy Formula:

Z = 1.2x₁ + 1.4x₂ + 3.3x₃ + 0.6x₄ + 1.0x₅

                                               Where:

x₁ = Working Capital / Total Assets (%)

x₂ = Retained Earnings / Total Assets (%)

x₃ = Earnings Before Interest & Taxes / Total Assets (%)

x₄ = Market Value of Equity / Total Liabilities (%)

x₅ = Sales / Total Assets (number of times)

                                                Evaluation:

                                                            Z < 1.81                      Significant problems

                                                            1.81 £ Z £ 3.0             Question marks

                                                            Z > 3.0                        Healthy firm

Present the score along with the calculations used to derive it.  If the score is below the healthy threshold, analyze the values, and explain why the score is weak.

1. Discussion of Financial Strategies – Discuss the effectiveness of the financial strategies of the organization. Are these strategies consistent with the Section I objectives? 

3. Operation Management – Discuss the corporations approach to any of the ten strategy decisions of operations management that apply:

1. Service and Product Design – Which products or services should be offered? How does it design them (modularly)?
2. Quality Management – How does the business define, measure, and control quality? Does it use 6 sigma?
3. Process and Capacity Design – Is there sufficient capacity to fulfill orders? What production processes does the business use? How close to full-capacity do they operate? Use CIM?
4. Location – How does the business decide where to locate its facilities? What criteria does it use?
5. Layout Design – How does the business arrange its facilities and inventories for optimal productivity?
6. Human Resources and Job Design – Is there a reasonable work environment? How much output can be expected from employees? What is the turnover and absenteeism?
7. Supply-chain Management – How does the business decide whether to make or buy? How are suppliers, distributors  and customers integrated into the supply chain? Outsourcing?
8. Inventory and Material Requirements – What inventory levels are kept? When does it reorder? What is the policy on stock-outs? Does it use JIT? Lean manufacturing?
9. Aggregate Planning – As demand varies, does the business vary or maintain staffing? Does the business subcontract?

Does it use overtime? Idle time? Part-time? Back-orders?

1. Reliability/Maintenance – Does the firm provide reliable products/services? How well are they maintained? By who?

(Note again: You do not need to comment on all 10).

(!) Note: The following three sections can be skipped if they are not critical to the organization.

4. R&D – Provide an analysis of current R&D objectives, strategies, policies and programs. Consider R&D strategies and objectives with respect to marketing objectives.

5. Human Resources Management – Provide an analysis of current HRM objectives, strategies, policies and programs. In the analysis consider the implications of HRM with respect to the internal strengths and weaknesses of the organization.  Does current HRM provide the organization with a competitive advantage? What level of service is maintained?  Is this consistent with the respective generic business strategy

6. Information Technology – Provide an analysis of the firm’s ability to effectively utilize IT. Consider the following:

• The firm’s ability to recognize the need for IT ahead of its competitors.
• The firm’s ability to implement effective IT.
• The firm’s ability to leverage IT into a competitive advantage.

D.    Summary of Internal Factors – From the internal factors discussed thus far, identify the following:

1. Core competencies – These are capabilities that help give the firm a competitive advantage over rivals. They are by nature valuable, rare, costly-to-imitate, and nonsubstitutable (see Strategic Management 5^th ed., chap. 3)
2. Distinctive competencies – These are “super” core competencies in which the company is usually #1.

    V.     ANALYSIS OF STRATEGIC FACTORS (SWOT)

(!) Note: This is the most important section of the audit!!! Do not leave it until the night before the audit is due.  It requires careful and  thoughtful analysis.

1. Situational Analysis – Summarize SWOT factors in bulleted lists. Present a SWOT grid in an appendix.  See Appendix C of this document for how to construct a SWOT grid.

B.    Review of Mission and Objectives – Consider whether or not the current mission and objectives of the organization (discussed in Section I) are consistent with its present strategic posture.

1. Analysis of Strategic Issues – Discuss three to five major problems that could destroy the company if not addressed. This is the most important section of the paragraph.

(!) Important: Discussion of each issue should begin with a question in the form, “How will Company X specifically address issue Y.”  The consequences of a failure to address the issue should be discussed.

Example Discussions of Strategic Issues

How will Company X respond to the current liquidity crisis?  If company X does not quickly address this, it runs the risk of a sharply diminished stock price combined with a seriously downgraded bond rating.  This will hamper Company X’s future ability to raise the capital necessary to…

How will Company X deal with its tarnished public image?  If company X does not remedy its image problem, it will alienate investors as well as customers.  This will result in…

 VI.     STRATEGIC ALTERNATIVES AND RECOMMENDED STRATEGY

1. Strategic Alternatives – Consider the pros and cons of pursuing the various corporate strategies, business strategies, etc. (Review Section I for a discussion of the possibilities.)
2. Corporate Strategies – propose at least two with pros and cons
3. Business Strategies
   1. Generic Strategies – propose at least two w/ pros and cons
   2. Competitive Strategies – propose 3 or more w/ pros and cons
4. Functional Strategy (consider only if vital)
5. Operational Strategy (consider only if vital)
6. Recommended Strategy
7. Recommend a strategy based on a subset of the strategic alternatives identified in this section i.e. at least one corporate strategy; one generic strategy and two or more competitive strategies.
8. Provide a rationale for the chosen subset.
9. Ensure all strategic issues have been addressed.

VII.     IMPLEMENTATION

A.    Briefly assess the eight components of implementing strategy:

                                                  1.     Allocating Resources

                                                  2.     Establishing Strategy-supportive Policies

                                                  3.     Instituting Best Practices for Continuous Improvement

                                                  4.     Installing Support Systems to Carry out Strategic Roles

                                                  5.     Tying Rewards to Achievement of Key Strategic Targets

                                                  6.     Shaping Corporate Culture to Fit Strategy

                                                  7.     Exercising Strategic Leadership

                                                  8.     Building a Capable Organization

B.    Who will develop these programs?

C.    Who will be in charge of these programs?

VIII.     EVALUATION AND CONTROL

Discuss the control measures that will be put into place to ensure conformance with the recommended strategic plan.

 IX.     LESSONS LEARNED

         List 3 or 4 of the most important lessons learned from this case (ensure you include enough detail such as examples etc.)

Appendix A – Construction of a Strategic Group Map

Step 1 – Identify two competitive characteristics that differentiate firms in the industry from one another.

Examples of Differentiating Competitive Characteristics                        

• Price/quality range
• Geographic coverage
• Degree of vertical integration
• Product line breadth
• Use of same distribution channels
• Degree of service offered

(!) Important: You will plot the corporation and its competitors as circles on the map.  The size of these circles will be determined by share of total industry sales revenue.  Neither of the axes, therefore, can be sales revenue or associated factors such as market share, net income, etc.

Step 2 – For each of the two competitive characteristics, score the corporation and all of its significant competitors.

Step 3 – Use the paired scores to plot a center point for each company.

Step 4 – Draw a circle around each center point proportional to each firm’s respective share of industry sales revenue.

Appendix B – Construction of a Boston Consulting Group Matrix

Construct a matrix as illustrated on this page, noting the following:

• Each significant business unit (or business line) of the corporation will be plotted on this matrix. The size of each circle represents the relative dollar volume associated with each business unit.
• The horizontal axis represents the relative market share of each business unit.
  • The center of the horizontal axis represents 70% market share relative to the industry leader.
  • Note also that the horizontal axis is reversed with respect to its normal orientation (i.e., high is to the left and low is to the right).
• The vertical axis represents the industry growth rate. Positioning against this axis is a judgment call.  A general rule is that the center of this axis represents average industry growth.

Appendix C – SWOT Grid

Construct a grid as illustrated on this page.  Plot the firm on the grid, using strengths vs. weaknesses and opportunities vs. threats as a guide:

• If strengths outweigh weaknesses and opportunities outweigh threats, then the firm will plot in the offensive quadrant. Firm should be following offensive strategies.
• If strengths outweigh weaknesses and threats outweigh opportunities, then the firm will plot in the diversification quadrant. Firm should be diversifying in its strategy.
• If weaknesses outweigh strengths and opportunities outweigh threats, then the firm will plot in the turnaround quadrant. Firm should be trying to turn itself around.
• If weaknesses outweigh strengths and threats outweigh opportunities, then the firm will plot in the defensive quadrant. Firm should be following defensive strategies.

ADDITIONAL INSTRUCTIONS FOR THE CLASS

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Your initial responses to the mandatory DQ do not count toward participation and are graded separately. In addition to the DQ responses, you must post at least one reply to peers (or me) on three separate days, for a total of three replies. Participation posts do not require a scholarly source/citation (unless you cite someone else’s work). Part of your weekly participation includes viewing the weekly announcement and attesting to watching it in the comments. These announcements are made to ensure you understand everything that is due during the week. Assignment: STRATEGIC AUDIT GUIDE

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Familiarize yourself with the APA format and practice using it correctly. It is used for most writing assignments for your degree. Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for APA paper templates, citation examples, tips, etc. Points will be deducted for poor use of APA format or absence of APA format (if required). Cite all sources of information! When in doubt, cite the source. Paraphrasing also requires a citation. I highly recommend using the APA Publication Manual, 6th edition.

• Use of Direct Quotes

I discourage over-utilization of direct quotes in DQs and assignments at the Master’s level and deduct points accordingly. As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content. It is best to paraphrase content and cite your source. Assignment: STRATEGIC AUDIT GUIDE

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For assignments that need to be submitted to Lopes Write, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me. Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes. Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own? Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for tips on improving your paper and SI score. Assignment: STRATEGIC AUDIT GUIDE

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The university’s policy on late assignments is a 10% penalty PER DAY LATE. This also applies to late DQ replies. Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances. If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect. I do not accept assignments that are two or more weeks late unless we have worked out an extension. As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading. Assignment: STRATEGIC AUDIT GUIDE

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