Perform an Internal Factor Evaluation on your chosen firm. The critical thing to remember about this analysis is that you should develop a thorough understanding of the factors chosen.
Perform an Internal Factor Evaluation on your chosen firm. The critical thing to remember about this analysis is that you should develop a thorough understanding of the factors chosen. Your analysis should include a chart similar to the one shown in Written Assignment #3 with the notable exception that categories should be “Strengths” and “Weaknesses” instead of opportunities and threats. Weights and ratings are to be assigned in a similar fashion.
IMPORTANT: I have provided a pre-formatted MS-Word IFE Matrix template for you to use with this assignment.
Written Assign #4 IFE Matrix Template.docx
Written Assign #4 IFE Matrix Template.pdf
Save the file, add your Internal Factors and Numbers, and then only paste the table, not the entire document.
It is important to understand here that you are looking for those elements that truly separate your firm from its rivals… What does your firm do better than other firms in its industry? THESE are your firm’s strengths. For example, if you include “Advertising and promotion” as a marketing strength, your firm needs to be truly exceptional in this regard. Perhaps they have won awards, or are acknowledged by industry observers as being superior in this way. That they simply happen to do advertising is not interesting as ALL firms likely do the same thing to some extent. Review the material on core competencies in eText Ch. 3 and apply that analysis to your firm’s internal factors; are the strengths in question rare, costly to imitate, non-substitutable, and/or valuable? Use Table 3.5 as a useful guide for this assignment.
Internal Factor Evaluation (IFE):
Complete the IFE Matrix, which is identical to the EFE Matrix of Written Assignment #3, except the factors will be Strengths and Weaknesses. The weighting and calculation will be the same. Please use attached pre-formatted IFE Template.
Choose 8-10 internal factors for analysis (or as many as you can discover).
At least 4 pages (excluding the matrix chart).
APA formatted MS-Word doc/docx file only.
Use the 12-point Times New Roman Font.
For each factor, write a paragraph or two as necessary discussing the nature of the factor, how it will impact the firm, and its importance to the future strategy of the firm (i.e., explain why you assigned the weight and rating score that you did).
All sources must be properly cited using APA guidelines for the References listings and in-text citations.
IMPORTANT: You should by now have a reasonable idea what the primary strengths and core competencies of your firm are. Weakness, however, can be a little more difficult to find. Aside from the more obvious research sites about which you are already familiar, a useful website for you to take a look at is: http://www.glassdoor.com This is a website where employees discuss their job experience at their current or former employers… spilling both the good and bad.
Go to the site, sign up (it’s easy and non-invasive), and peruse the employee reviews. If you find that common themes are discussed and presented by many reviewers, then you have a hit and should use that in your piece as cited evidence. If, however, only one or two employees mention an item, there is less likelihood that you have a usable factor.
Written Assignment #4 is due Week 9, 11:59 PM EST, Saturday. (Next Saturday Night aka June 27)
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