In this 1-hour long project-based course, you will be able to analyze your organization and identify your competitive advantage with the Internal Factor Evaluation-External Factor Evaluation (IFE-EFE) matrix. IFE-EFE matrix is strategic management tools used for input stage of strategy formulation. The IFE is focused on the internal dimension of the organization by looking at the strengths and weaknesses. While the EFE is concerned with the external factors by focusing on the opportunities and threats the organization is exposed to. The IFE-EFE matrix is created by assigning weight to each of the factors based on their perceived impact. Then the factors are ranked based on the company performance on each. The weighted score is determined by multiplying the weight by the ranks. Finally, the information on the overall scores of the IFE- EFE would reveal if the company meets the threshold to survive the competitiveness of the industry.
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Recommended experience
What you'll learn
Design and analyze the components of the IFE-EFE matrix for your organization
Determine the strengths and weaknesses as well as the opportunities and threats of your organization
Formulate the right strategy for your organization given the internal and external factors
Skills you'll practice
Details to know
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About this Guided Project
Learn step-by-step
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Explain the Internal Factor Evaluation-External Factor Evaluation (IFE-EFE) matrix
Determine the factors of your strengths and weaknesses in your organization
Determine the opportunities and threats of your organization
Assign weight to each of the internal and external factors based on your industry performance
Conduct the ranks of the internal and external factors base on your organization performance
Compute your overall score on the internal and external dimensions
Apply the IFE-EFE results to formulate the right strategy for your organization
Recommended experience
Familiarity with business terms
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Instructor
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How you'll learn
Skill-based, hands-on learning
Practice new skills by completing job-related tasks.
Expert guidance
Follow along with pre-recorded videos from experts using a unique side-by-side interface.
No downloads or installation required
Access the tools and resources you need in a pre-configured cloud workspace.
Available only on desktop
This Guided Project is designed for laptops or desktop computers with a reliable Internet connection, not mobile devices.
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Frequently asked questions
By purchasing a Guided Project, you'll get everything you need to complete the Guided Project including access to a cloud desktop workspace through your web browser that contains the files and software you need to get started, plus step-by-step video instruction from a subject matter expert.
Because your workspace contains a cloud desktop that is sized for a laptop or desktop computer, Guided Projects are not available on your mobile device.
Guided Project instructors are subject matter experts who have experience in the skill, tool or domain of their project and are passionate about sharing their knowledge to impact millions of learners around the world.