TUGAS PRAKTIKUM BAHASA INGGRIS

“WRITING SUMMARY”

Disusun Oleh :

Nama : Saimah Putri Lubis

Npm : C1C019037

Asisten Praktikum :

Stevani Likasari Tarigan

Dosen Pengampu:

Dr.Iis Sujarwati,S.Pd,M.Pd

S1-AKUNTANSI

FAKULTAS EKONOMI DAN BISNIS

UNIVERSITAS BENGKULU
 EXTERNAL MEASUREMENT

Undertanding and be able to do the analysi of eksternal enviroment

Nature of External Audit
The purpose of an external audit is to develop opportunities that the company can take advantage of
and threats that should be avoided. External Audit does not aim to develop a long list of every
factor that can affect the company, but is intended to identify important variables that can be
responded to with action. Companies should respond offensively or defensively to these factors by
formulating strategies that can take advantage of opportunities or minimize the impact of potential
threats.
External Power Matters
External Power can be divided into five broad categories :
1. Economic power
2. Cultural , social, demographic and environmental forces
3. Political power, government and law
4. The power of technology
5. Competitive force.
 
Important note , when identifying and prioritizing key external factors in strategic planning,
make sure the factors selected are specific. That is, to be quantified to the widest possible
extent , it may be more important to ensure that the selected factors are meaningful in the
sense that they have strategic implications.
Changes in external forces translate into changes in customer demand for industrial and consumer  
products and services. External forces influence the type of product strategy being developed ,
market positioning and segmentation, the types of services offered, and the choice of business to
acquire or sell. External Power directly affects both suppliers and distributors.
Process of Performing External Audits
The process of conducting an external audit should involve as many managers and employees as
possible.
To audit external, companies first have to investigate and gather information on trends competing
economic, social, cultural, demographic, environmental, political, governmental, hu kum, and
technology.
Economic Power
Economic factors have a direct impact on the potential attractiveness of various strategies.
For example, with the interest rate, the funds needed for capital expansion are cheaper. As the
interest rate increases , discretionary income decreases, and the demand for compressed goods also
decreases. When stocks rise, the desire for equity as a source of capital for market development
increases. When the market increases, the wealth of consumers and businesses increases.
The advantages and disadvantages of a weaker dollar for domestic companies.
Advantage
1. Make more exports
2. Make imports lower
 3. Making US goods cheaper for foreign consumers
4. Combating deflation by pressing import prices
5. Can contribute to increasing short-term stock prices
6. Encourage foreign countries to lower interest rates
7. Increase company revenue and profit.
Loss
1. Can lead to inflation
2. Can cause an increase in the price of oil
3. Can weaken the US government
4. Get Americans to travel globally
5. Can contribute to a long-term fall in share prices.
 
Social, Cultural, Demographic and Environmental Strengths
Social , cultural and environmental changes have a profound impact seen on all products, services,
markets and customers. Organizations aiming for small and large profit and non-profits in all
industries are surprised and challenged by the opportunities and threats that arise from
changing social , cultural, demographic and environmental variables .
 
Political, Government and Legal Power
Political issues and alignments are a problem for business, especially in the world of Twitter and
instant e-mail. Many countries around the world are seeking protection to secure their industries.
Labor union
The degree to which states are united can be a significant political factor
in strategic planning related to plant locations and other operational issues.
The issue of managed public sector workers has been contentious in many states. The state
government seeks concessions and the most drastic one is the elimination of collective bargaining
rights.
State, and federal local laws, regulatory agencies and special interest groups have the greatest
impact on the strategy of large, for-profit and non-profit organizations.
The Power of Technology
The Internet has changed the nature of opportunities and threats by changing the product lifecycle,
increasing the speed of distribution , creating new products and services, removing traditional
geographic market restrictions, and changing the history of trade-offs between production
standardization and flexibility. The Internet has lowered barriers to entry and redefined the
relationship between the industry and various suppliers , creditors, customers and competitors.
The power of technology presents major opportunities and threats that must be considered in
formulating strategy. technological sophistication can dramatically affect products, services,
markets, suppliers, distributors, competitors, customers, manufacturing processes, market practices
and an organization's competitive position.
Technological sophistication can create new markets , generate new product developers, change the
relative cost-competitive position of the industry and deliver existing and obsolete products and
services.
Not all sectors in the economy are affected equally by technological development,
the communications, electronics, aerospace and pharmaceutical industries are more volatile than the
textile, forestry and metals industries.
Competitive Strength
An important part of an external audit is identifying competitor companies and determining
weaknesses , capabilities , opportunities, threats, objectives and strategies.
Competitive Intelligence Program
Competitive intelligence is a systematic and ethical process to gather and analyze information about
the activities of competition and general business trends for business purposes to de pan .
Various legal and ethical ways to obtain competitive intelligence include the following.
1. Hiring top executives from competing companies.
2. Reverse engineer manufacturing a competitor's product.
3. Use surveys and interviews with customers , suppliers and distributors.
4. Make visits in the operations of a competing company
5. Search for online data centers
6. Contact government agencies for public information about competing companies.
7. Systematically monitor relevant publications, trades, magazines and newspapers.
8. Includes gathering competitive intelligence in salesperson job descriptions.
 
Competitive Analysis : Porter's Five Forces Model
Porters' five forces model in competitive analysis is a competitive approach that is widely used to
develop industrial strategies and many. The intensity of competition between firms varies widely in
different industries.
According to Porter, the nature of competition in industry can be seen as a combination of five
forces:
1. Competition among competing companies
2. The entry of new or potential competitors
3. The potential for developing substitute products
4. The bargaining power of suppliers
5. The power of the consumer's bargaining position
 
     The following three steps to use Porter's five forces mode can indicate whether competition in
an industry can create profits that the company can receive :
1. Identify the aspects or key elements of each competitive force affecting the
company.
2. Evaluate how strong and important each element is to the company
3. Determines whether the collective strength of the elements is worth it for the
company to enter or remain in the industry.
Competitive Inter-Company Competition
Competition among competing firms is usually the strongest of the five competing
forces. Strategies that are pursued by one firm can be successful only if they provide a competitive
advantage in the strategies pursued by competing firms. Changes in the strategy of a company may
encounter resistance, such as reducing prices , improving quality, adding features, providing
services, extending warranties and adding advertisements.
External Sources of Information
A wealth of strategic information is available to organizations , both from published and
unpublished sources. Unpublished sources include customer surveys, market research, talks at
general shareholders and professional meetings, television programs, interviews, and stakeholder
chats.
Source - a source that is published includes documents periodic, journals, reports, government
documents , abstracts, books, directories, newspapers, and handbooks.

The summary of the text above is: External Measurement in strategic management, understanding
and being able to analyze the external environment. External audit has a goal, namely to develop a
number of opportunities that can be exploited by the company and threats that should be avoided.
Then external forces can be divided into 5 broad categories, namely:

• Economic strength

• Cultural, social, demographic and environmental forces

• Political, governmental and legal power,

• The power of technology and

• Competitive forces.

The Process of Conducting External Audits The process of conducting external audits should
involve as many managers and employees as possible.

Porter's five forces model in competitive analysis is a competitive approach that is widely used to
develop strategy and in industry.

External Information Sources A wealth of strategic information is available to organizations, both

from published and unpublished sources. Unpublished sources include customer surveys, etc.
Published sources include periodical documents, journals, reports, government documents.