Discussion 1 – Create a Question
Wk 3 Discussion 1 – Create a Question
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:
Pose a question based on the literature. Provide background leading up to the question, use supporting references, and answer your own question.
Include your own relevant experience as well as 2 citations that align with or contradict your comments as sourced from peer-reviewed academic journals, industry publications, books, and/or other sources. Cite your sources using APA formatting. If you found information that contradicts your experience, explain why you agree or disagree with the
Strategic Management, Ch. 4–6 (Optional)
Review Ch. 4, “The Internal Assessment,” Ch. 5, “Strategies in Action,” and Ch. 6, “Strategy Analysis and Choice” to help you consider the factors important to your internal assessment assignment this week.
This week we do not have any new required reading. Given this week’s assignment, an Internal Factors Evaluation (IFE), I would like to discuss the weights that we assign to key internal factors (David, David, & David, 2020). It is important that we get these weights right, and not just because that is a big part of our grade this week. David et al. (2020) explained that “the weight assigned to a given factor indicates the relative importance of the factor for being successful in the firm’s industry relative to other factors included in the IFE” (p. 114).
In this week’s assignment, you need to be able to explain how the highest weighted scores will influence your decision-making in the global environment. Keep this in mind as you develop your weights.
If you look at the example IFE matrix provided in the text you will see that David et al. (2020) listed the key internal factors in descending order of importance, from 0.15 down to 0.02. You will also see that there are only two weaknesses and two strengths with a weight of 0.10 or higher. That means that those four factors are clearly the most important factors for the evaluation. In your assignments, you need to be able to clearly justify your ratings, and provide insightful explanations of how the weighted scores influence your decision-making.
How do you think you can accurately determine the order of importance for your key internal factors, and how to subsequently weigh them?
Answer preview to Discussion 1 – Create a Question
APA
342 words