Develop IFE matrix for Yorkvilleu universitySolutionIFE Inte

Develop IFE matrix for Yorkvilleu university.

Solution

IFE (Internal factor evaluation).........

Ife matrix is a most important tool for internal audit of.any firm.

This function analysis different area such as- marketing, human resources, account,etc.

This function depends on business nature and size.

There are some important step to.devlop IFE matrix.....

1) first identify the internal factor in internal audit process, including strength and weakness, if.possible use percentage and ratios.

2) in second stage assign a weight to different factor. Weight manage in range from 0.0 to 1.0.

The range indicates important of all factors, this is a very important key for firm\'s success.the sum of all weight must equal to 1

3) after weighted the factor, than weighted the weakness and strength if a firm\'s have major weakness indicates its=1, and minor weekness its indicates 2.

*all weekness represents in 1 to, 2 range and all strength indicate 3to4 range example......

If firms have minor strength its indicates 3, and major strength its indicates 4.

4) after indicates all factors, strength, weekness by range,than multiply each factor from its weighted score.

5) in last stage sum of all weighted score for each factor for find the total weight of organizations....

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