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After Conducting An Internal Audit

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After conducting an internal audit, a firm discovers a total of 100 strengths and 100

weaknesses. What procedures could be then used to determine the most important

of these? Why is it important to reduce the total number of key factors?

Answer

With 100 strengths and weaknesses, it is important to get all fields together to

determine the most priority and rank and calculate to determine which are the most

meaningful. It is important to reduce them so that the concentration on a few strengths

and weaknesses gives clear results.

Explain how you would motivate managers and employees to implement a major new

strategy.

Answer

Employees may not need a pay raise as much as they do personal thanks from
their manager for a job well done. Show your workers that you support them, and
encourage better performance by motivating them in the following ways:

 Personally, thank employees for doing a good job — one on one, in


writing, or both. Do it promptly, often, and sincerely.
 Be willing to take time to meet with and listen to employees. Give them as
much time as they need or want.
 Provide specific feedback about the performance of the employee, the
department, and the organization.
 Strive to create a work environment that is open, trusting, and fun.
Encourage new ideas and initiative.
 Provide information about upcoming products and strategies, how the
company makes and loses money, and how each employee fits into the
overall plan.
 Involve employees in decisions, especially those decisions that directly
affect them.
 Encourage employees to have a sense of ownership in their work and their
work environment.
 Create a partnership with each employee, giving them a chance to grow
and learn new skills. Show them how you can help them meet their goals
within the context of meeting the organization’s goals.
 Celebrate successes of the company, the department, and the individuals
in it. Take time for team- and morale-building meetings and activities.
 Use performance as the basis for recognizing, rewarding, and promoting
people. Deal with low and marginal performers so that they improve their
performance or leave the organization.

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