company analysis
rt1911
Tool5InternalFactorEvaluationMatrix.pptxStrategic Management Tool Five
MGT 4810
Dr. Amye Melton
Tool 5
The primary focus of Tool 5 is to discover internal strengths and weaknesses to the firm.
Tool 5
You will need to use the “Jury of Executive Opinion” for this tool.
Step One
List 10 Strengths and 10 Weaknesses. Be very specific, remember Deming said “In God we Trust. Everyone else bring data”.
Step Two
Assign a weight from 0.0 to 1.0 to each strength and then do the same for each weakness. The sum of the strength weights should be 1.0. The sum of the weakness weights should be 1.0.
These weights are based on the importance to the INDUSTRY, not your company.
Tool 5
Step Three
Assign a ranking of 1 to 5 (5 is always the highest). This ranking is based on importance to YOUR ORGANIZATION.
Step Four
Multiple the weight by the ranking to get a weighted score for each variable.
Step Five
Sum the weighted score for each variable to determine the total weighted score for the organization.
Tool 5
