Internal factor evaluation matrix can be used to examine the strengths and weaknesses of a business. Some of the important strengths which can be included in the matrix are: powerful strategy, strong financial condition, economies of scale, strong advertising and promotion, lower cost, product quality and innovation, good customer service, strong brand name, etc. Similarly weaknesses include low market share, narrow product line, lack of alliances and joint ventures, weak financial position, higher cost of production, lower quality products, lack of innovation, poor management etc. Step by step construction of internal factor evaluation matrix is given for Harrah’s Entertainment (largest gaming company in the world that owns and operates over 50 casinos, hotels, and seven golf courses under several brands).
Internal Factor Evaluation Matrix Harrah’s Entertainment
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