IFE (Internal factor evaluation) matrix of a focal company or organization is a
ID: 362081 • Letter: I
Question
IFE (Internal factor evaluation) matrix of a focal company or organization is a strategy-formulation tool that summarizes and evaluates the major strengths and weaknesses in the functional areas of a business, and it also provides a basis for identifying and evaluating relationship among those areas. (David, 2005, p.147)
Requirement 4: Compile an Internal Factor Evaluation (IFE) Matrix (with specific internal factors, weights, scores, and weighted scores) as an analytic tool for technically evaluating the focal company. (The Monmouth Rubber & Pastics Corp.)
IFE (Internal factor evaluation)
IFE – Key Internal Factors
Strengths
Weight
Rating
Weighted Score
Weaknesses
Totals
1.0
(Leave this cell blank)
Reference
David, F.R. (2005). Strategic management: Concepts and cases.(10th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall
Requirement 5:
Why did you choose those strengths and weaknesses?
(Please keep in mind you need to discuss at least 3 supporting reasons for each of these respective factors.)
What do the respective weighted IFE scores mean for that organization from a strategic planning viewpoint?
What are some strategic implications by inferring based on the total weighted scores that are derived from the IFE matrix respectively?
Support the rationale for your explanation.
We were given 3 companys to choose from and I chose The Monmouth Rubber & Pastics Corp. here are few websites that I looked at for information. I hope this helps
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0ahUKEwjQtMP4vrDXAhWE6IMKHRo1B6EQFgg9MAc&url=http%3A%2F%2Fwww.rubbernews.com%2Farticle%2F20160520%2FNEWS%2F305169979&usg=AOvVaw2qjf6kkF_g-4gzGeebJKlt
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjQtMP4vrDXAhWE6IMKHRo1B6EQFggpMAA&url=http%3A%2F%2Fmonmouthrubber.com%2F&usg=AOvVaw1mQQLLnIFvZqDsACobKG2V
IFE – Key Internal Factors
Strengths
Weight
Rating
Weighted Score
Weaknesses
Totals
1.0
(Leave this cell blank)
Explanation / Answer
rating range from 1- 4
weight range from 0-100%
IFE – Key Internal Factors
Strengths
Weight
Rating
Weighted Score
Weaknesses
Totals
1.0
I choose these strengths because firm runs on its family value. so they treat their employees and customers same. they have good realtion with them. next reason is that all the generation is involved in the working so young generation have new and good decision making instinct. next as whole family is involved in working so they posses good management team.
I choose these weaknesses because as we know rubber industry has limited sphere of usage in market so the market is saturated. moreover tehy work in their home land so have disadvantage of international market.
IFE – Key Internal Factors
Strengths
Weight
Rating
Weighted Score
good relation with customers and employees 30% 4 1.2 strong management team 20% 3 .6 offer variety of products 10% 3 .3Weaknesses
little diversification 20% 1 .2 limites access to international market 10% 2 .2 saturated market 10% 3 .3Totals
1.0
2.8