Efe And Ife Essay

1650 words - 7 pages

The EFE matrix is very similar to the IFE matrix. The major difference between the EFE matrix and the IFE matrix is the type of factors that are included in the model. While the IFE matrix deals with internal factors, the EFE matrix is concerned solely with external factors.
External factors assessed in the EFE matrix are the ones that are subjected to the will of social, economic, political, legal, and other external forces.
How do I create the EFE matrix?
Developing an EFE matrix is an intuitive process which works conceptually very much the same way like creating the IFE matrix. The EFE matrix process uses the same five steps as the IFE matrix.
List factors: The first step is to ...view middle of the document...

46 indicates that the business has slightly less than average ability to respond to external factors. (See the page on IFE matrix for an explanation of what category the 2.46 figure falls to.)
What should I include in the EFE matrix?
Now that we know how to construct or create the EFE matrix, let's focus on factors. External factors can be grouped into the following groups:
* Social, cultural, demographic, and environmental variables:
* Economic variables
* Political, government, business trends, and legal variables
Below you can find examples of some factors that capture aspects external to your business. These factors may not all apply to your business, but you can use this listing as a starting point.
Social, cultural, demographic, and environmental factors...
- Aging population
- Percentage or one race to other races
- Per-capita income
- Number and type of special interest groups
- Widening gap between rich & poor
- Number of marriages and/or divorces
- Ethnic or racial minorities
- Education
- Trends in housing, shopping, careers, business
- Number of births and/or deaths
- Immigration & emigration rates
Economic factors...
- Growth of the economy
- Level of savings, investments, and capital spending
- Inflation
- Foreign exchange rates
- Stock market trends
- Level of disposable income
- Import and export factors and barriers
- Product life cycle (see the Product life cycle page)
- Government spending
- Industry properties
- Economies of scale
- Barriers to market entry
- Product differentiation
- Level of competitiveness (see the Michael Porter's Five Forces model)
Political, government, business trends & legal factors...
- Globalization trends
- Government regulations and policies
- Worldwide trend toward similar consumption patterns
- Internet and communication technologies (e-commerce)
- Protection of rights (patents, trade marks, antitrust legislation)
- Level of government subsidies
- International trade regulations
- Taxation
- Terrorism
- Elections and political situation home and abroad

Internal Factor Evaluation (IFE) matrix is a strategic management tool for auditing or evaluating major strengths and weaknesses in functional areas of a business.
IFE matrix also provides a basis for identifying and evaluating relationships among those areas. The Internal Factor Evaluation matrix or short IFE matrix is used in strategy formulation.
The IFE Matrix together with the EFE matrix is a strategy-formulation tool that can be utilized to evaluate how a company is performing in regards to identified internal strengths and weaknesses of a company. The IFE matrix method conceptually relates to the Balanced Scorecard method in some aspects.
How can I create the IFE matrix?
The IFE matrix can be created using the following five steps:
Key internal factors...
Conduct internal audit and identify both strengths and weaknesses in all your business areas. It is suggested you...

Other assignments on Efe And Ife

Habi Wac Essay

5699 words - 23 pages apparently is costly. Having known HABI’s major weakness, the group aims to develop and propose a cost-effective course of action to address the problem of insufficient designs and sizes and schedule overlaps between manufacturers and resellers or direct buyers. STRATEGY MATRIXES Internal-External (IE) Matrix Plotted in this simplified Internal-External (IE) Matrix are IFE and EFE total weighted scores respectively. The point is located at

Mgt216 Essay

714 words - 3 pages The first ethical issue presented in the ethics game simulation was whether to warn consumers about the contaminated product and what information to provide consumers about the contaminant. The second ethical issue was whether to sell a product that does not meet U.S. safety requirements in a foreign market that has lower safety restrictions. G-BioSport was not required to meet prior approval from the Federal Drug Administration before they

Economy Effect Of Marijuana

277 words - 2 pages Modern American History by Alan Renga 2nd Mid Term! You will be given 3 Short Essay questions and 20 Multiple Choice questions deriving from this list! 80 points total! The 1920s Warren Harding then Calvin Coolidge Tea Pot Dome 1st Red Scare Immigration Restriction, Sacco and Vanzetti Langston Hughes, Marcus Garvey, KKK Prosperity, advertising Prohibition, Al Capone Flappers, Clara Bow, Rudolph Valentino Babe Ruth, Jack Dempsey

The Vc Shakeout

2033 words - 9 pages ECONOMY 26 Luring a big firm to town is not the secret to job growth DEFEND YOUR RESEARCH 30 Are morning people wired for success? VISION STATEMENT 32 The social web’s east-west divide COLUMN 38 Warren Bennis looks back on his surprising path to fame New Thinking, Research in Progress hbr.org New Thinking, Research in Progress hbr.org FIRST The VC Shakeout Venture capital hasn’t worked for a decade and must be radically

Hospitals Paper

6014 words - 25 pages I hope to provide in this paper a comprehensive understanding for what the term “hospital” has become. Hospitals are an extremely complex system that man has created and shaped and reshaped throughout history. My goal in writing and researching this paper will be to provide those who read it a clear understanding on how the hospital system got to where it is today, and to shed some light on the many organizations that affiliate with and

Course Syllabus

2610 words - 11 pages [pic] COURSE SYLLABUS Semester: Fall, Year: 2012  College Mission Statement Richard J. Daley College provides high-quality education which leads to academic success, career development, and personal enrichment that fulfill diverse community needs. Mathematics Department Mission Statement Our mission is to deliver excellent service and to provide learning opportunities by offering a wide range of mathematics courses, which will help our

Management

1477 words - 6 pages Boeing Management Planning Heather Oetzel MGT 330 October 22, 2012 Joe Cheng Abstract Boeing is known as “the world’s leading aerospace company and the largest manufacturer of commercial jetliner and military aircraft combined ("The Boeing Company: About Us", 2012). Every company uses different types of management techniques including how the planning function of management is used. Planning allows organizations to develop how the

Assisted Suicide

1015 words - 5 pages , and Switzerland. In the Netherlands, voluntary euthanasia has been legal since 1983, with some 3,000 people requesting it each year. In Australia, assisted suicide was legalized in the Northern Territory with the backing of a substantial majority of the local population, but was then overthrown by the Federal Senate before anyone could actually use the new law. However, in Oregon and California, state legislation has been passed to allow for

Tanglewood Case 1

797 words - 4 pages Tanglewood’s staffing strategy requires the organization to make key decisions about the acquisition, deployment, and retention of the organization’s workforce. In order to accomplish this, Tanglewood’s must make thirteen decisions regarding its staffing levels and its staffing quality. One of the first decisions that Tanglewood needs to choose is to acquire or develop talent. Tanglewood should try to develop their current talent because one

Nnnnn

1391 words - 6 pages Есе по въпроса: Кои от всички „действащи” лица могат да се разглеждат като морално отговорни и в какво именно? по казуса Форд „Пинто” Корпоративните злодеяния са нанесли повече вреди на обществото от всички улични престъпления взети заедно. Според данни на ФБР сумата от уличните престъпления възлиза на $3.8 млрд. годишно, а загубите от корпоративните измами между $100 млрд. и $400 млрд. годишно

The Penis

1052 words - 5 pages The short story ”The Penis” is written by Hanif Kureishi. The short story is about a penis, which has been separated from its owner Doug, who we hear from later on. At first though we hear about a guy called Alfie who was “a cutter – a hairdresser – and had to get to work”. He is having breakfast with his wife, when she asks him what he did last night, and if he had a good time last night? Alfie can not remember what he did last night, he

Similar Documents

Report Ford

3109 words - 13 pages be use by strategists. STAGE 1 * External Factor Evaluation (EFE) Matrix * Internal factor Evaluation (IFE) Matrix * Competitive Profile Matrix STAGE 2 * Strengths-Weakness-Opportunities-Threats (SWOT) Matrix * Strategic Position and Action Evaluation (SPACE) Matrix * Boston Consulting Group (BCG) Matrix * Internal-External (IE) Matrix * Grand Strategy Matrix STAGE 3 * Quantitative Strategic Planning

Fina Essay

1213 words - 5 pages We have managers and workers of different workers of different department for information Collection 11. What scientific tools like SWOT, EFE, CPM and IFE adopt for environmental audit? No single tools but yes through information collected by our managers we know our SWOT and take action’s on these basis

Case Study Of Apply

7638 words - 31 pages Weakness – Threats strategy. In most organization, SWOT strategies are the most implemented strategies since they are usually a combination of external factor evaluation (EFE) and internal factor evaluation (IFE) thereby helping a company exploit the opportunities to the maximum while at the same time avoiding any threats. 20 Strengths Apple’s strengths includes a strong brand image that gives the company a competitive advantage over its

Dale Case Essay

5223 words - 21 pages 18.3% over the four years with the bulk of the growth coming from emerging markets (Jones, 2013). The Internal- External (IE) matrix positioned Dell in division II of the nine-block cell display (Appendix J). The IFE score of 2.36 and EFE score of 3.13 were used to plot the graph and determine the positioning for Dell. Based on the information used for the IE, Dell is in a Grow and Build state, which recommends that backward, forward and