Wk 2 Discussion 2 – Internal Factor Evaluation
Wk 2 Discussion 2 – Internal Factor Evaluation
Please refer to the resources provided on CDS Central. They are intended to help you engage effectively on the discussion board.
Write a 250- to 300-word response to the following:
Begin an Internal Factor Evaluation (IFE) matrix for the case you chose in Week 1. Post your results here. How are the internal factors in your organization different from the sample matrix in Table 4-11 on p. 279 in the textbook?
Include 2 citations that support your perspective or provide an alternate perspective to your comments as sourced from peer-reviewed academic journals, industry publications, books, and/or other sources. Cite your sources using APA formatting.
As you begin to develop your IFE matrix and are working on your list of key internal factors, please keep in mind the following guidelines:
“Use the Narrow (Not Broad) Industry the Firm Competes In” (David, David, & David, 2020, p. 115)
“State Factors So They Pass the Actionable-Quantitative-Comparative-Divisional (AQCD) Test” (David, David, & David, 2020, p. 115)
It is important to get this list right; everything else relies on it. That is why David et al. (2020) suggested starting with a list of 50-100 factors and narrowing it down to 20.
The military and multiple federal agencies use a process similar to the IFE to assess both key internal and external factors. They emphasize the importance of assigning a weight to each key factor before rating them. Organizations end up with a much more honest assessment when they assign the weight before rating the factors. When these steps are reversed, organizations have the ability to (even subconsciously) use the weights that they assign to adjust the final weighted scores to get the results that they want
References
David, F., David, F., & David, M. (2020). Strategic Management Concepts and Cases: A Competitive Advantage Approach (17th ed.). Pearson.
Answer preview to Wk 2 Discussion 2 – Internal Factor Evaluation
APA
350 words