1) Describe the EFAS and the IFAS.
2) What is the purpose of each tool?
3) Are there any weaknesses in the EFAS/IFAS classification system?
-Describe the EFAS and the IFAS
-What is the purpose of each tool?
-Are there any weaknesses in the EFAS/IFAS classification system?
Disclaimer: This solution is my original work. I have referred to various sources including library sources; however have not copied from any source.
The response addresses the queries posted in 618 words with references.
An effective strategy of an organization maximizes the opportunities and minimizes the threat while leveraging the strengths and while overcoming weaknesses.
Strategic Factor Analysis is a systematic way of identifying and assessing the factors that internally and externally affect the company's future.
IFAS (Internal Factor Analysis Summary)
Strengths and Weakness are internal to the company.
Strength is a distinctive competence that gives the firm a comparative advantage in the market place. (Pierce & Robinson, 2004)
Weakness is a limitation or deficiency in resources, skills and capabilities that seriously impedes effective performance. (Pierce & Robinson, 2004).
Internal Factor analysis summary is a tool to assess the significance ...
This solution gives answers to fundamental questions as to what is EFAS/IFAS, what is the purpose of each tool and finally what are the weaknessess.
This is a crisp solution of about 618 words and additionally includes references.