Management Audit
Management audit is also known as control function of management. The first step we did as a company is to plan a strategic process. This is the development of the objectives, mission, plans and policies. The company will deal with providing moderately priced accessorises and clothes. The targeted population are the youth who are employed. The mission of the business is to provide a creativity and innovation in the business. The policies developed offer a direction which the company a should follow, these are the guidelines and rules that will address the daily activities of the company. These decisions were made on rational basis to avoid future challenges and conflicts. Most of the members have increasingly been participative in management. We had a low ending inventory twice during the financial year: September- 2008-september 2009.
As a company, we overdrew the checking account ones to obtain the capital loan for the business projects. We are caring an excessive inventory because the level of the current ratio is high. We appeal to the market because our goods are fast consumer products. As a store, we communicate the value of our products through advertising. This is by the building of a marketing strategy which promotes consumer awareness. As a small retail business, we have a sales force of two people most of the time except during peak seasons (Tampa University, 2010).
Reference
Tampa University (2010) management auditing. Retrieved from http://schools.interpretive.com/faculty/resources/en/dec09/en/student_manual.p
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