Strengths and Weaknesses

• Srengths
• Weaknesses
• Opportunities
• Threats

Strengths

These are positive internal factors that a business venture can use to achieve its goals and objectives etc.

Weaknesses

These are the negative internal factors which stop the organization from achieving its goals and objectives etc.

Internal Audit List

Self Assessment

• Am I clear about my destination?
• Are my skills sufficient for kick start or growth?
• What are my limitations?
• In which area I am lacking which may negatively or positively impact my business venture?
• Is my network worthy for establishment and growth?
• What level of commitment I can bring in my venture?

Venture Assessment

• Are goals and objectives measurable?
• Are goals and objectives well communicated to strategic partners?
• Is product and service design competitive?
• Is selected target market well thought and planned?
• Is my pricing strategy competitive?
• Are my selling propositions well communicated to the target market?
• Is customer orientation well crafted?
• Is venture's structure appropriate?
• Are jobs and requirements clear to all strategic partners?
• Is strategic partners morale high?
• Are employee's absenteeism and / or turnover low?
• Are reward and control mechanisms effective?

Tools for Internal Audit

• Cost / Benefit Analysis
• Financial Ratios
• Production and operation assessment