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(a) Assess the IFE Matrix for McDonalds based on the guideline and information in Table Q1(a) and Table Q1(b) respectively.

(a) Assess the IFE Matrix for McDonalds based on the guideline and information in Table Q1(a) and Table Q1(b) respectively.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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Q1 Internal Factor Evaluation (IFE) Matrix is a strategy-formulation tool that summarizes and evaluates the major strength and weaknesses in the functional areas of business, and it also provides a basis for identifying and evaluating relationships among those areas. (a) Assess the IFE Matrix for McDonalds based on the guideline and information in Table Q1(a) and Table Q1(b) respectively. Steps 1 2 3 4 5 Table Q1(a): Steps in Internal Factor Evaluation (IFE) Matrix Items List FOURTEEN (14) key internal factors. Use a total of from 10 to 20 internal factors, including both strength and weaknesses (SEVEN (7) factors for each). List strength first and then weaknesses. Assign a weight ranging from 0.0 (not important) to 1.0 (all-important) to each factor. The weight indicates the importance of the factors. Assign a 1-to-4 rating to each factor. The rating indicates whether the factors represent: o A major weaknesses (Rating = 1) o A minor weaknesses (Rating = 2) o A minor strength (Rating = 3) o A major strength (Rating = 4) Multiple each factor's weight by its rating to determine a weighted score for each variable. Sum the weighted score for each variable to determine the total weighted score.
Transcribed Image Text:Q1 Internal Factor Evaluation (IFE) Matrix is a strategy-formulation tool that summarizes and evaluates the major strength and weaknesses in the functional areas of business, and it also provides a basis for identifying and evaluating relationships among those areas. (a) Assess the IFE Matrix for McDonalds based on the guideline and information in Table Q1(a) and Table Q1(b) respectively. Steps 1 2 3 4 5 Table Q1(a): Steps in Internal Factor Evaluation (IFE) Matrix Items List FOURTEEN (14) key internal factors. Use a total of from 10 to 20 internal factors, including both strength and weaknesses (SEVEN (7) factors for each). List strength first and then weaknesses. Assign a weight ranging from 0.0 (not important) to 1.0 (all-important) to each factor. The weight indicates the importance of the factors. Assign a 1-to-4 rating to each factor. The rating indicates whether the factors represent: o A major weaknesses (Rating = 1) o A minor weaknesses (Rating = 2) o A minor strength (Rating = 3) o A major strength (Rating = 4) Multiple each factor's weight by its rating to determine a weighted score for each variable. Sum the weighted score for each variable to determine the total weighted score.
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