Question: Construct an IFE Matrix for Nestlé
Purpose: This exercise will give you experience developing an IFE matrix. Identifying and prioritizing factors to include in an IFE matrix fosters communication among functional and divisional managers. Preparing an IFE matrix allows human resources,' marketing's, production/operations,' finance/ accounting's, R&D's, and management information systems' managers to articulate their concerns and thoughts regarding the business condition of the firm. This results in an improved collective understanding of the business.
Instructions:
Step 1 Join with two other individuals to form a three-person team. Develop an IFE matrix for Nestlé.
Step 2 Compare your team's IFE matrix with other teams' IFE matrices. Discuss any major differences.
Step 3 What strategies do you think would allow Nestlé to capitalize on its major strengths? What strategies would allow Nestlé to improve upon its major weaknesses?