GM Unit 2 DB - weakness is that because it concentrates on...

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Lorraine Huff Unit 2 Discussion Board January 16, 2010 External and Internal Factor Analysis Summaries help companies to recognize potential threats and opportunities involved with a company. These summaries help to devise some thoughts about they could do to improve situations facing the company. EFAS, or external factor analysis summary, analyses things outside the company that affects is in either a positive or a negative way. The reports show which areas within the organization are strong and which ones might be in need of improvement. They will show a number of threats and opportunities for company development. IFAS, or internal factor analysis summary, analyses things inside the company that affect it different ways than the EFAS. It also helps to identify opportunities and threats, however it takes the information from the goings on inside the company itself. There are strengths and weaknesses to these summaries. One idea that it could be a
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Unformatted text preview: weakness is that because it concentrates on the issues that potentially have the most impact within the company; they can leave out the smaller issues that can potentially become larger ones. Also they can produce a cast amount of information that may not be highly relevant or useful. They can oversimplify the situations by classifyin the firms environmental factors into categories in which the may not always fit. The analysis strengths are that the companys awareness of the information is key in the development of its strategy involved in the management of the company. References NetMBA.com. (2009). SWOT Analysis . Retrieved January 16, 2010, from NetMBA.com: http://www.netmba.com/strategy/swot/ NetMBA.com. (2010). The Strategic Planning Process . Retrieved January 8, 2011, from NetMBA.com: http://www.netmba.com/strategy/process/...
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