Question

The primary tool used by managers who are performing external and internal audits as part of the strategic management process is the ________.

A) BCG matrix
B) QSPM matrix
C) SWOT chart
D) EPS/EBIT table
E) MBO assessment

Answer 1

The primary tool used in external and internal audits for strategic management is the SWOT chart, which stands for Strengths, Weaknesses, Opportunities, and Threats.

Step-by-step explanation:

The primary tool used by managers who are performing external and internal audits as part of the strategic management process is the SWOT chart. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, providing a comprehensive framework for evaluating the internal and external factors affecting an organization. This tool helps managers identify the areas where the company excels, where it might improve, the potential opportunities for growth, and any external challenges it may face.