IN YOUR OWN WORDS In the first week of class we discussed the three phases of th
ID: 2711351 • Letter: I
Question
IN YOUR OWN WORDS
In the first week of class we discussed the three phases of the Strategic Management Process. Understanding the Internal Strengths and Weaknesses is essential to both the Strategy Formulation and the Strategy Execution phases. It is important for an organization to link strategic initiatives to identified strengths and weaknesses. The IFE matrix is one of many tools that are available to support this process.
These discussions always bring out varying perspectives and observations. This is why it is so important to build cross functional collaboration and communication into the process of evaluating strategies.
Upon your personal review of the various Disney Divisions, and your review of the perspectives of other students, what is your observation of the effectiveness of utilizing this tool and what shortcomings have you observed?
Explanation / Answer
IFE matrix or method is very muchsubjective; after all other methods such as the TOWS or SWOT matrix are subjective as well. IFE is trying to ease some of the subjectivity by introducing numbers into the concept.
Intuitive judgments are required in populating the IFE matrix with factors. But, having to assign weights and ratings to individual factors brings a bit of empirical nature into the model.