Explain how you would conduct an internal strategic manageme

Explain how you would conduct an internal strategic management audit and competitive strength assessment. As a business leader, explain how you would organize a strategic internal information scanning system. Why is it important to understand the 5 sources of revenue as part of the internal analysis? Lastly, as a business leader, you will have to determine what strategic issues and problem warrant \"front burner\" attention. How will use as manager employ the tools available to you in order to make those determinations? Comment

Solution

First i will analyse the demand supply situation of the industry and state of economy where my business is operating.Also the competetive and relative advantage of my firm versus competition macro economic factors like low raw material cost due to low commodity prices

In business, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. Revenue is also referred to as sales or turnover. Some companies receive revenue from interest, royalties, or other fees.^[1] Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, received during a period of time, as in \"Last year, Company X had revenue of $42 million.\" Profits or net income generally imply total revenue minus total expenses in a given period. In accounting, revenue is often referred to as the \"top line\" due to its position on the income statement at the very top. This is to be contrasted with the \"bottom line\" which denotes net income.^[2]