5 D’s Approach: Define, Describe, Descern, Decide, Defend

I. Current Situation

II. Corporate Governance

III. External Environment

IV. Internal Environment

V. Analysis of Strategic Factors

VI. Alternatives and Recommendations

VII. Implemetation

VIII. Evaluation and Control

I. CURRENT SITUATION

 Ensuring the right composition of the audit committee

 Diversity of experience, perspectives and expertise, as well as industry knowledge.

 Continuing development and education to help them keep up-to-date on current issues.

 Training programs, guidance and other support tools are essential.

 Formal training and education, mentoring, and engagement with experts inside and

outside the organization.

 Efficient use of resources

 Efficient identification of activity that adds value

 Efficient use of core compentence to company’s advantage

 Efficient measurement of the company’s performance

 Efficient business portfolio

 Efficient SWOT analysis to company’s advantage

- Construction is where you finally get into the database management system.

- With your fully developed blueprints in hand, the construction phase simply becomes a process of

building what you've outlined.

- At this point, the needs to make decisions about how things should be put together should be at a

minimum or even non-existent.