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What's different between them ?
- Thread starter carcarcar
- Start date
silgun said:There is a huge difference between SWOT and IFE and EIE, as i said earlier swot is a complete
Can you let me know what is the distinctive different between them ? Please !
IFE and EFE, they only evaluate extenal factor or internal factor indipenently, and there is no relation with them they are for a distictm and uniqu perpose to studay the external environment or the internal environment.
where as SWOT analysis helps in relating the interanl factor with that of extenal factors, it consideres that factor that effect the internal business, as the same suggests its analysis of Strenths and weakness of an organisation and looking for an Opertuanitys and related Tthereats for the same to be able to be competent in the businss or market.
hope it gives you an idea of difference
i shall refer the books and let you know if possible at the arelieat
john
where as SWOT analysis helps in relating the interanl factor with that of extenal factors, it consideres that factor that effect the internal business, as the same suggests its analysis of Strenths and weakness of an organisation and looking for an Opertuanitys and related Tthereats for the same to be able to be competent in the businss or market.
hope it gives you an idea of difference
i shall refer the books and let you know if possible at the arelieat
john
silgun said:IFE and EFE, they only evaluate extenal factor or internal factor indipenently, and there is no relation with them they are for a distictm and uniqu perpose to studay the external environment or the internal environment.
where as SWOT analysis helps in relating the interanl factor with that of extenal factors, it consideres that factor that effect the internal business, as the same suggests its analysis of Strenths and weakness of an organisation and looking for an Opertuanitys and related Tthereats for the same to be able to be competent in the businss or market.
hope it gives you an idea of difference
i shall refer the books and let you know if possible at the arelieat
john
Thanks you for your explaination.
But could you give me a example for SWOT ?
Whenever a Company needs to formulate strategies for its business, it has to do various forms of analysis (based on whcih the decisions are made).
SWOT, IFE and EFE provide with these forms of inputs.
Any strategy formulation stage necessarily consists of 3 stages:
1) Input stage (where all data, analysis is done)
2) Matching stage (where all the data that is gathered from various stages is matched and filtered)
3) Decision stage (the final decision is taken)
SWOT: Conducts the Strengths, Weakness, Opportunities, Threats of the entire organisation.
EFE: Summarises and evaluates various external factors like social,economic,cultural,political,demographic,legal and competitive information.All these factors are ranked and weighed.
IFE: Summarises and evaluates the major strengths and weaknesses in the functional areas of a business. These internal factors are arrived at during an internal audit. These too are ranked and weighed like EFE.
EFE and IFE are ranked and weighed in importance in firm's ability to perform.
SWOT, IFE and EFE provide with these forms of inputs.
Any strategy formulation stage necessarily consists of 3 stages:
1) Input stage (where all data, analysis is done)
2) Matching stage (where all the data that is gathered from various stages is matched and filtered)
3) Decision stage (the final decision is taken)
SWOT: Conducts the Strengths, Weakness, Opportunities, Threats of the entire organisation.
EFE: Summarises and evaluates various external factors like social,economic,cultural,political,demographic,legal and competitive information.All these factors are ranked and weighed.
IFE: Summarises and evaluates the major strengths and weaknesses in the functional areas of a business. These internal factors are arrived at during an internal audit. These too are ranked and weighed like EFE.
EFE and IFE are ranked and weighed in importance in firm's ability to perform.
jitendra05
Banned
Internal Factor Evaluation (IFE) matrix is a tactical management resource for auditing or analyzing major benefits and weak points in functional areas of a business and is used in strategy formulation. SWOT analysis is used to evaluate the strength, weakness, future threats and opportunities of a business.