Vulnerability is defined as "the degree to which people, property, resources, systems, and cultural,

economic, environmental, and social activity are susceptible to harm, degradation, or destruction when
exposed to a hostile agent or cause," according to the Business Dictionary. *

Internal auditors can cooperate with management to analyze any part of the organization using this
definition. The scope description of the review will guide the process of finding relevant events, which
can be accomplished in one of several ways.

On the basis of goals. Identify occurrences that may limit the organization's capacity to achieve its goals,
either partially or totally. In this situation, brainstorming and the Adelphi method may be valuable tools
for gathering pertinent data and assessing the events' effects. It's worth noting that the occurrence
doesn't have to be interpreted negatively right away. For example, rapid changes in broadband access,
apps, and how customers used cellphones changed industry dynamics, limiting BlackBerry's market
share, while Apple, Samsung, and LG took advantage of these developments and gained quickly.
Although the incident was the same, the impact on the organizations was vastly different for the
businesses named.

Based on a scenario. Determine how forces interact by creating multiple situations or alternate
approaches of reaching objectives. Identifying triggers that can start or halt certain scenarios is a good
strategy. The organization may better prepare itself to leverage opportunities and avoid negative
repercussions by identifying and understanding the triggers produced or accelerated by these
circumstances.

Management must evaluate the following external and internal factors that can influence the
occurrence of an event in any of these two approaches:

External. Economic, business, natural environment, political, social, and technological variables are only
a few examples.

Internal. Infrastructure, staff, processes, and technology are all examples.