Could someone please help me with this. Once you have completed both charts from
ID: 352215 • Letter: C
Question
Could someone please help me with this.
Once you have completed both charts from Learning Activity #1 prepare a paragraph that discusses: (1) why you chose those strengths, weaknesses, opportunities and threats and (2) what the weighted IFE and EFE scores mean for that organization from a strategic planning point of view.
Using either Kroger or Nike, create an abbreviated IFE and EFE chart using the format below.
EFE -- Key External Factors
Opportunities
Weight
Rating
Weighted score
Threats
Weight
Rating
Weighted score
IFE -- Key Internal Factors
Strengths
Weight
Rating
Weighted score
Weaknesses
Weight
Rating
Weighted score
Opportunities
Weight
Rating
Weighted score
Threats
Weight
Rating
Weighted score
Explanation / Answer
Nike company is the largest seller of athletic footwear and apparel in the world.Nike, along with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services.Nike sells its products through retail accounts, Nike-owned retail stores, internet websites, and independent distributors and licensees throughout the world
Strength
Strong Global Brand: Nike is the most valuable sports brand in the world
Low Cost Manufacturing: Virtually all of Nike’s footwear is manufactured outside of the United States by independent contract manufacturers who operate multiple factories.Vietnam, China, and Indonesia manufactured roughly 43%, 28%, and 25% of total Nike Branded footwear
Strong Research and Development: Nike takes its research, design, and development efforts very seriously, and it believes this is one of the key factors for its success
Weaknesses
Ongoing Perception of Poor Labor Practices:-Nike was facing intense criticism of its labor practices and work conditions.The company itself has acknowledged that the low wages for some of its workers remains a concern. Safety issues at certain locations are also an issue.
High Prices:-Due to its strong brand, which make its products out of reach for many customers , the cost of its footwear is higher than most of its competitors.
Opportunities
Emerging Markets:Rapidly growing economies like China, along with other emerging markets like India and Brazil, have the potential to drive future earnings growth.
Innovative Products: Given Nike’s focus on R&D, as mentioned in the strengths section of this analysis.
Threats
Competition:-There are several significant athletic and leisure footwear companies and sports equipment firms that produce similar products. Some of the primary ones are Puma and adidas. Other large companies have diversified their product lines to include athletic and leisure footwear.
EFE (External Factor Evaluation)- The ratings in external matrix refer to how effectively company’s current strategy responds to the opportunities and threats. The numbers range from 4 to 1, where 4 means a superior response, 3 – above average response, 2 – average response and 1 – poor response. Ratings, as well as weights, are assigned subjectively to each factor.
IFE Matrix(Internal Factor Evaluation) The ratings in internal matrix refer to how strong or weak each factor is in a firm. The numbers range from 4 to 1, where 4 means a major strength, 3 – minor strength, 2 – minor weakness and 1 – major weakness. Strengths can only receive ratings 3 & 4, weaknesses – 2 & 1. The process of assigning ratings in IFE matrix can be done easier using benchmarking tool.
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