IFE-EFE Flashcards
A firm’s strengths that cannot be easily matched or imitated by competitors.
Distinctive Competencies
Requires gathering and understanding information about the firm’s management,…
The Internal Audit
For auditing or evaluating major strengths and weaknesses in functional areas of a business. Basis for identifying and evaluating relationships among those areas.
Strategy tool used to evaluate firm’s internal environment and to reveal its strengths as well as weaknesses.
Internal Factor Evaluation (IFE) matrix
Contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage.
The Resource-Based View (RBV)
Approach
The process of defining, anticipating, creating, and fulfilling customers’ needs and wants for products and services.
Marketing
The examination and evaluation of consumer needs, desires, and wants.
Customer Analysis
Includes activities such as test marketing;
product and brand positioning; devising
warranties;…
Product and Service Planning
Includes warehousing, distribution channels, distribution coverage,…
Distribution
The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.
Marketing Research
The allocation and reallocation of capital and resources to projects, products, assets, and divisions of an organization.
Investment Decision
Determines the best capital structure for the firm and includes examining various methods by which the firm can raise capital.
Financing Decision
Concern issues such as the percentage of earnings paid to stockholders,…
Dividend Decisions
Consists of all those activities that transform inputs into goods and services.
Production/Operations Function
It is an analytical tool used to determine whether a firm’s value chain activities are competitive compared to rivals and thus conducive to winning in the marketplace.
Benchmarking
Strategy tool used to examine company’s external environment and to identify the available opportunities and threats.
External Factor Evaluation (EFE) Matrix
