Evaluating the Internal Environment Flashcards
is the systematic evaluation of the key internal
features of an organization.
Internal Analysis
a strategy tool
used to evaluate firms internal environment and to reveal its
strengths as well as weaknesses.
Internal Factor Evaluation (IFE) Matrix
The internal and external factor evaluation matrices have
been introduced by _____in his book Strategic
Management. According to the author, both tools are used to
summarize the information gained from companys external
and internal environment analyses.
Fred R. David
is a strategic planning tool designed to help
organizations uncover and protect the resources and capabilities
that give them a long-term competitive advantage.
VRIO framework (Value, Rarity, Imitability, and Organization.)
was developed in 1980s by McKinsey consultants - Tom
Peters, Robert Waterman and Julien Philips.
McKinsey 7s model
s one of the most popular strategic planning tools.
Businesses commonly use it to analyze internal elements that affect
organizational success
McKinsey 7s model
The model divides these 7 elements into two categories
- Hard elements
- Soft elements
Strategy, Structure, Systems (these are easier to be identified and
defined and can be directly influenced by the management)
Hard elements
Shared Values, Skills, Style, Staff (these are harder to be defined
because they are less tangible, but are just as important as the hard elements)
Soft elements
increase revenues through effectively positioning Starbucks
stores as ‘third place’ environment
Strategy
Flat management structure
Structure
the rotation system of duties
Systems
effective set of values are being promoted by
management
Shared values.
training and development program
Skills
inspirational management.
Style
