​Option #1: Business Risk and Audit Planning Reporting

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Option #1: Business Risk and Audit Planning Reporting

Assume you were just assigned as lead auditor for a new e-commerce client. This is your client’s first year in business. Identify general business strategies that might explain your client’s decision to enter the e-commerce space with the likes of giants such as Amazon. Considering these strategies, identify potential business risks that can lead to material misstatements in your client’s financial statements. Be sure to include new start-up and e-commerce risks. What are some other things your team will need to consider during the planning phase for this audit?

Prepare a paper discussing the results of your planning phase.

Your report should meet the following criteria:

  • Be 3 pages in length, not including the title and references pages.
  • Demonstrate your comprehension of the course material.
  • Use professional business language
  • Include 2-3 sources

Review the grading rubric to see how you will be graded for this assignment.

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Running head: INSERT FIRST 50 CHARACTERS OF TITLE The Running head is required for CSU-Global APA Requirements. The title page should have the words, Running head: followed by the first 50 characters of the title in all caps. Use the template paper located in the Library under the “APA Guide & Resources” link for a paper that is already formatted in APA. 1 Page numbers should be inserted in the top right corner. SAMPLE PAPER Identifying the Best Practices in Strategic Management Gertrude Steinbeck ORG500 – Foundations of Effective Management Colorado State University – Global Campus Dr. Stephanie Allong August 6, 2015 Information on the Title Page is centered in the top half of the paper. All major words should be capitalized and not bold. Papers should be typed in a 12 pt, Times New Roman font with 1 inch margins on all 4 sides. The entire paper is double spaced. All subsequent pages should only have the first250 characters of the paper’s title in all caps for the running head. IDENTIFYING THE BEST PRACTICES IN STRATEGIC Identifying the Best Practices in Strategic Management Strategic management and corporate sustainability are two important dynamics of modern-day organizations. It is important for organizational leaders to have an understanding of Each paragraph Repeat the title of your paper at the the theoretical applications should be indented of strategic management as a means of addressing beginning.corporate This is not a header; ½ inch or 5 spaces therefore it is not to be bold, but all sustainability. of this paper is to provide definitions major and anwords understanding of Do not add fromThe the purpose left are capitalized. margin. a header at the beginning of your paper as the first paragraph should clearly identify the objective of your paper. organization of study, is also provided in order to understand how the company has utilized A level 1 header should be bold, centered and all major words strategic management to implement sustainability initiatives for long-term financial performance. capitalized. See https://owl.english.purdue.edu/owl Strategic Management /resource/560/16/on how to Theheadings functioninofAPA. management is to plan, organize, lead, and control the operations of an format strategic management and corporate sustainability. An overview of the Walgreen Company, the organization (Robbins & Coulter, 2007) and includes strategic management. Strategic management is an approach in which organizations create a competitive advantage, enhance productivity, and establish long-term financial performance. Chandler (as cited in Whittington, 2008) defines strategy as “the determination of the basic long-term objectives of an that is If you goals using aand source (Whittington) citing another author (Chandler), use the author’s last name found in your source (Chandler) at define the beginning of your carrying out these goals” (p. 268). Similarly, Wheelen and Hunger (2008) strategic sentence followed by the citation - (as cited in Your Source, year). Only the source management as the managerial decisions and actions of an organization that achieve long-run you are reading (Whittington) will be listed performance of the business, with benefits such as: in your references. See https://owl.english.purdue.edu/owl/resour  Clearer sense of vision for the organization ce/560/09/for more information. enterprise, and the adoption of courses of action and the allocation of resources necessary for  Sharper focus on what is strategically important  Improved understanding of a changing environment The Strategic Management Model (SMM) provides the framework for integrating strategic Spell phrase out the first time in document with acronym in parentheses. From that point forward, the acronym can be used. planning into an organization so that the aforementioned benefits are realized. This is an example of how to cite authors using a narrative citation. The year3must IDENTIFYING THE BEST PRACTICES IN STRATEGIC follow the author(s) last name(s) in parentheses. The authors are being used as a Strategic Management Model part of a sentence, therefore the word “and” is usedevolved, and not the symbol “&.” Research indicates as the concept of strategic management many A level 2 header should be bold, left-justified theoretical models were proposed. Ginter, Ruck, and Duncan (1985) identify eight and all major words capitalized. elements of the normative strategic model: vision and mission; objective setting; external When citing 3-5 authors, list all the authors the first time (see above) scanning; strategic alternatives; strategy environmental scanning; internal environmental and then use et al. for the following in-text citations. If you have 6 or selection; implementation; and control. Long (as cited in Ginter et al., 1985) stated that more authors, use et al. for all innormative strategic management models are an “explicit, intentional, planned and rational text citations. approach” (p. 581) to management. Similar to Ginter et al., Wheelen and Hunger (2008) established the SMM (see Figure 1) which includes four main elements: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. When quoting, you must include the page number or the paragraph scanning numberEnvironmental of where you found the is the monitoring, evaluating, and extracting of information from quote and cite the source and/or page the external and internal environments in order for management to establish plans and number immediately after the quotationmake marksdecisions. even it if itStrategy is in the formulation includes creating long-term plans for the middle of a sentence. organization, including the mission, objectives, strategies and policies. Strategy implementation is the process of executing policies and strategies in order to achieve the mission and objectives. Evaluation and control require monitoring the performance of the organization and adjusting the process as necessary in order to achieve desired results (Wheelen & Hunger, 2008). The SMM assumes the organizational learning theory, which states that an organization adapts to the changing environment and uses gathered knowledge to improve the fit between itself and the environment. The SMM also assumes the organization be a learning organization in which the gathered knowledge can be used to change behavior and reflect new knowledge (Wheelen & Hunger, 2008). IDENTIFYING THE BEST PRACTICES IN STRATEGIC Environmental Scanning External: Opportunities Threats Societal Environmental Task Environmental Strategy Formulation Strategy Implementation 4 Evaluation and Control Mission Objectives Strategies Policies Internal: Strengths Weaknesses Structure Culture Resources Programs Budgets Procedures Performance Figure 1. The strategic management model was adapted from Strategic management and business policy (11th ed.) by T. L. Wheelen, & J. D. Hunger, 2008, Upper Saddle River, NJ: Pearson Prentice Hall. When using a Figure in your paper, make sure there is no title above the figure. Underneath the figure youthrough must have the word, “Figure” italicized and the In addition to enhancing financial performance strategic management, figure number in your paper followed by a period. Then mention where the information organizational leaders have the responsibility of increasing shareholder value through was adapted or general information about the figure. Follow the 1 corporate sustainability (Epstein, 2008). Corporate sustainability is defined variety of example above. Noticeinit adoes not follow the reference citation format. Corporate Sustainability ways. Hollingworth (2009) described a sustainable organization as “one that strives for and achieves 360-organizational sustainability” (p. 1). The author claimed an2 When you are using the same source for a paragraph, you need to startwhen the paragraph with or maintain, over a long-term without organization is sustainable it can endure, a 1- narrative citation, 2- refer to the author permanently damaging or depleting resources again so your reader knows you are still talking including: the organization itself; its human about the same author (try not to use pronouns resources (internal andasexternal); the community/society/ethno-sphere; and the planet’s such as “he” or “she” APA believes this could 3 lead to a gender bias), and 3-end the paragraph environment. He then claimed that if one of the four resources is not sustainable, issues with a parenthetical citation. with the remaining resources will eventually develop (Hollingworth, 2009). Brundtland (as cited in Epstein, 2008) described sustainability as the economic development that addresses the needs of the present generation without depleting resources needed by IDENTIFYING THE BEST PRACTICES IN STRATEGIC 5 future generations Epstein (2008) adds to the definition from a business perspective by including corporate social responsibility. Epstein also states that organizations have a responsibility to stakeholders to improve management practices in order to add value by addressing corporate social, environmental and economic impacts (Epstein, 2008). Organizational leaders are the strategic decision makers of a company and have a responsibility to stakeholders (Wheelen & Hunger 2008). Therefore, it is important to have an understanding of why corporate sustainability is important, and how the nine principles of sustainability performance guide strategic management. Importance of Corporate Sustainability is another examplea of InThis addition to making profit, organizations have a responsibility to society, narrative citation. The year must which includes addressing economic, social, and environmental impacts, otherwise follow the author(s) last its name(s). If there was a quotation, the page or known as social responsibility. and Carroll had two opposing views of paragraph number would be Friedman listed immediately after the quote in parentheses. corporate social responsibility. Friedman argued that the sole responsibility of business was to use resources and activities that enhanced profits (Wheelen & Hunger, 2008). Carroll (1979) argued that social responsibility included much more that making a profit; This is an example of a parenthetical he proposed businesses must include the economic, legal, ethical andItdiscretionary citation. includes the author(s) last  name(s) and the year. If there was a quotation, a page or paragraph would also be included. Economic responsibilities include producing goodsnumber and services to meet the Notice that the period is at the end of the parentheses. needs/wants of society in order to make a profit;  Legal responsibilities are the laws and regulations the company is expected to categories of business performance. abide by;  Ethical responsibilities are included in the previous two statements, but also include the norms and beliefs held by society; IDENTIFYING THE BEST PRACTICES IN STRATEGIC  6 Discretionary responsibilities are other responsibilities taken on by the organization including voluntary activities and philanthropic contributions (Carroll, 1979). The importance of corporate sustainability, therefore, is that an organization is responsible for financial performance, but it also has additional responsibilities to stakeholders and society in general. The Nine Principles of Sustainability Performance The nine principles, as presented by Epstein and Roy (2003) (see Table 1), further define sustainability, are measureable, and can easily be incorporated into strategic management (Epstein, 2008). These principles include ethics, governance, transparency, business relationships, financial return, community involvement, value of products and services, employment practices and protection of the environment. A table or figure should fit all on one page even if there is a gap left in your paper. It is easier for the reader to view the table or figure when presented as a whole instead of split on two pages. IDENTIFYING THE BEST PRACTICES IN STRATEGIC 7 Table 1 The Nine Principles of Sustainability Performance 1. Ethics 2. Governance 3. Transparency 4. Business relationships 5. Financial return 6. Community involvement/ economic development 7. Value of product and services 8. Employment practices The company establishes, promotes, monitors and maintains ethical standards and practices in dealing with all of the company stakeholders. The company manages all of its resources conscientiously and effectively, recognizing the fiduciary duty of corporate boards and managers to focus on the interests of all company stakeholders. The company provides timely disclosure of information about its products, services and activities, thus permitting stakeholders to make informed decisions. When practices using a Table in suppliers, your paper,distributors make The company engages in fair-trading with sure you use the word “Table” with the and partners. Table number. Then insert the title of the The company compensates providers of capital with a competitive return on investment and the protection of company assets. Table in italics, with all major words The company fosters a mutually beneficial relationship capitalized. Underneath thebetween Table youthe must corporation and community inhave which it is sensitive to the culture, context the word, “Note” italicized followed by and needs of the community. a period. Mention where the information was adapted from or general information The company respects the needs, desires and rights of its customers and about Table.and Follow thisvalues. example. strives to provide the highest levels of the product service Notice it does not follow the Reference citation format. The company engages in human-resource management practices that promote personal and professional employee development, diversity and empowerment. 9. Protection of the The company strives to protect and restore the environment and promote environment sustainable development with products, processes, services and other activities. Note. There should be a general note about the table here. Adapted from “Improving sustainability performance: Specifying, implementing and measuring key principles” by M. Epstein, & M. Roy, 2003, Journal of General Management, 29(1), pp.15-31. Walgreens Company Walgreens Company is a retail drugstore that is in the primary business of prescription and non-prescription drugs, and general merchandise including beauty care, personal care, household items, photofinishing, greeting cards, and seasonal items (Reuters, 2010). More recently, the organization diversified its offerings through worksite healthcare facilities, home care facilities, specialty pharmacies, and mail service pharmacies (Walgreens Company, 2010). IDENTIFYING THE BEST PRACTICES IN STRATEGIC 8 Walgreen Company established a strong organizational culture focusing on consumer and employee satisfaction. The mission of Walgreens is: We will provide the most convenient access to consumer goods and services . . . and pharmacy, health and wellness services . . . in America. We will earn the trust of our customers and build shareholder value. We will treat each other with respect and dignity and do the same for all we serve. We will offer employees of all backgrounds a place to build a career. (Walgreens, 2010a, para. 1) Walgreens was established in 1901 by pharmacist Charles R. Walgreen Sr. (Walgreens, 2010b). Prior to establishing the company, Mr. Walgreen struggled with the direction the pharmacy If a quotation is longer than 40 words, it If you are using information from multiple web pages from one format is indented ½ inch (or 5 spaces youover need238,000 to distinguish Today, Walgreens is the largest drugstore chain in the United States website, employing from the left) from the left margin. Do not which citation came from which use quotation marks for this quote. web page. can distinguish each people. Sales in 2009 exceeded $63 billion, in which 65% of sales were fromYou prescriptions page, by putting the letters, “a,” drugs. The organization has expanded into all 50 states, as well as the District of Colombia and “b”, etc. with the year. industry the lack quality customer service and care for people concerned him. must bewas in aheaded; block format. Theofblock Puerto Rico, for a total of 7,496 stores and 350 Take Care clinics (Walgreens Company, 2010, para. 3). Conclusion Strategic management and corporate sustainability are two important practices in today’s competitive global environment. In order to effectively implement strategic management in light of corporate sustainability, leaders must have an understanding of such concepts. This paper has provided a background and understanding of strategic management and corporate sustainability. An overview and history of Walgreen Company was also presented in order to identify best practices in strategic management that enhance corporate sustainability. IDENTIFYING THE BEST PRACTICES IN STRATEGIC List sources in alphabetical order. The word, References should be capitalized, centered, but not bold. 9 References Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. The Academy of Management Review, 4(4), 497. When a citation runs over to the second line, indent 5 spaces to the right. This is a “hanging indent.” Collins, J. (2001). Good to great. New York, NY: HarperCollins Publishers Inc. Epstein, M. J. (2008). Making sustainability work. San Francisco, CA: Greenleaf Publishing Limited. Epstein, M., & Roy, M. (2003). Improving sustainability performance: Specifying, implementing and measuring key principles. Journal of General Management, 29(1), 15-31. French, S. (2009). Critiquing the language of strategic management. The Journal of Management Development, 28(1), 6-17. doi: 10.1108/02621710910923836 Ginter, P., Ruck, A., & Duncan, W. (1985). Planners’ perceptions of the strategic management process. Journal of Management Studies, 22(6), 581-596. Hollingworth, M. (2009, November/December). Building 360 organizational sustainability. Ivey Business Journal, 73(6), 2. Walgreens. (2010a). Mission statement. Retrieved from http://news.walgreens.com/article_display.cfm?article_id=1042 Walgreens. (2010b). Our past. from If youRetrieved are using information Make sure that the links are not live (you should not be able to click on them to go to the website). If they are live, right click and then click on “Remove Hyperlink.” from multiple web pages from one website, you need to be able to distinguish Reuters. (2010). Walgreen Co. Retrieved from what information came from each web page. To do this, http://www.reuters.com/finance/stocks/companyProfile?symbol=WAG.N you need to add the letters, Robbins, S. P., & Coulter, “a,” M. (2007). “b,” etc.Management to the year of (9th ed.). Upper Saddle River, NJ: Pearson each citation. http://www.walgreens.com/marketing/about/history/default.html Prentice Hall. Walgreens Company. (2010). 2009 Annual report. Retrieved from IDENTIFYING THE BEST PRACTICES IN STRATEGIC http://investor.walgreens.com/annual.cfm Wheelen, T. L., & Hunger, J. D. (2008). Strategic management and business policy (11th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Whittington, R. (2008). Alfred Chandler, founder of strategy: Lost tradition and renewed inspiration. Business History Review, 82(2), 267-277. Note: Level Headers 3, 4, and 5 are also used but much less frequently. Click here for more information on their format and use. For more information on CSUGlobal APA requirements for formatting in APA, and examples of in-text and reference citations, see the CSU-Global Guide to Writing and APA Requirements. 10 IDENTIFYING THE BEST PRACTICES ...
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ChloeL134
School: Rice University

Here we go lemme know in case of anythingGoodbye and all the best
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Running head: E-COMMERCE RISK AND AUDIT PLAN

E-Commerce Risk and Audit Plan
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E-COMMERCE RISK AND AUDIT PLAN

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E-Commerce Risk and Audit Plan
The business may be keen on the cost leadership and the focus strategy. This will not
only enable it to reduce costs but also increase the profitability levels. This can be achieved
through the use of digitalization and efficient distribution motorcycles and vehicles. Such
machines will not only utilize little amounts of fuel for each mileage but also result in
minimal maintenance costs. The low cost incurred may result in the business charging its
customers a relatively low price in commission. It plays an integral role in attracting more
players to sell their products on the e-commerce website. Besides, it will concentrate on
offering a platform where sellers can advertise their products and pay a commission. This
will entail the firm entering into contracts with various manufacturers to be part of their
supply chain. The website shall also be designed in attractive colors and integrated to of...

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Anonymous
awesome work thanks

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