Internal factor evaluation (IFE) matrix is a strategy formulation tool which is used to examine the strengths and weaknesses in the functional area of a business. In IFE Matrix it is more important to thoroughly understand the factors included rather than the actual numbers. Therefore intuitive judgments are required in developing IFE Matrix. Step by step construction of IFE Matrix is given for the Wal-Mart (An American public corporation that runs a chain of large discount department stores and a chain of warehouse stores).
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