What is the framework of audit in China?

General Key Success Factors are set out in the following exhibit.

Area Key Success Factors Technical a)         Research and development capability b)         Technical know-how c)         Innovation in production process d)         Product innovation e)         Know-how f)           Ability to use the internet to distribute information, process order, distribute goods or provide services g)         Protection of intellectual property Production a)         Efficient production with low cost b)         High utilization rate of fixed assets c)         Factories operated in a low cost […]

What are the key success factors (KSF) in your industry?

Perhaps the most important result of your industry analysis will be the identification of the key success factors of your competitors. Key success factors are assets and skills that a company within a particular industry must have to succeed. Key success factors might be: a)Name b)Access to distribution channels. c)Financial resources. d)Loyal consumers. e)Access to […]

What is the framework of audit in China?

How to spot trends?

To spot industry trends, you constantly need to ask yourself several questions concerning your customers, competitors, and the industry in general, such as: a) What are the important aspects to customers? b) Which needs have not been satisfied? c) What new strategies are my competitors starting to employ? You need to sit down and take a […]

challenges of internal control if internal control

At which stages do I add value to my product or service?

When you do a research on the cost structure of an industry, the first thing for you is to identify the stages at which you add value to your product or service. A product-oriented business will have the following stages: a)       Procurement b)       Processing c)       Fabrication d)       Assembly e)       Distribution f)         Marketing. Each step adds […]

What aspects should I pay attention to when studying industry structure?

A study of the structure of your targeted industry can reveal how attractive the industry is. You will need to take the following into account: a)    Competition among existing market players. Information of this aspect should be the number of market players in this industry, their comparative size, product lines, strategies, costs, and commitment to […]

challenges of internal control if internal control

How to forecast industry growth?

To forecast industry growth, you can set up several growth models and examine the results under different assumptions. Growth models allow you to develop an idea of when the growth inflexion will appear and what will drive it to appear. You need to gather data on key indicators to chart the growth. These indicators will […]

How to research industry size?

  An understanding of the actual and potential size of the industry is important not only to evaluate investment decisions, but also to determine the market share of each of your competitors. You can make an estimation of the actual size of the industry by referring to several second hand research sources like the China […]

challenges of internal control if internal control

What aspects do you have to investigate?

In addition to researching the industry as a whole, you should also research critical market segments. The following areas should be investigated: a)       Actual and potential size of the industry. b)       Industry growth prospects. c)       Structure of the industry. d)       Costs of operating in this field. e)       Distribution channels. f)        Trends and developments within the […]

Why you need an industry analysis?

If you want an accurate picture of the industry you’re competing in, you need to do some general research. Do not confuse this research with researching your target market, or even your fellow competitors. If your industry is heading to a direction you don’t want to follow, you certainly should be aware of it. Make […]