Verified Document

Smith And Wesson Internal Factor Evaluation Matrix And Summary Case Study

Smith and Wesson IFE (Internal Factor Evaluation) Matrix and Summary

Founded in 1852, Smith and Wesson regards itself a market leader as far as innovation is considered in the manufacture of firearms. During its 165 years in the firearm manufacturing industry, the company has developed a wide range of pistols, starting with the volcanic pistol in 1852 to the M&P M2.0 pistol in 2017, with the latter being regarded a masterpiece as far as grip, frame, and finish is concerned (Smith and Wesson, 2017).

Table 1.0: IFE Matrix of Smith & Wesson

Strengths

Weight

Rating

Weighted Score

Excellent production quality

0.19

4

0.76

Significant market share

0.15

4

0.60

Brand image

0.09

3

0.27

Innovation

0.10

4

0.40

Strong and consistent growth in revenues

0.07

3

0.21

Well-founded R&D

0.08

3

0.24

Strong managerial team

0.09

3

0.27

Weaknesses

High manufacturing cost

0.08

1

0.08

Large portion of revenues drawn from U.S. market

0.09

1

0.09

Dependence on a single revenue stream i.e. firearm manufacture only

0.06

2

0.12

Total Weight Score

1.00

3.04

Summary

The IFE matrix, in the words of Lodato (2014), is a tool to help in evaluating the internal environment of the business by visualizing and evaluating major strengths and weaknesses in functional areas of a business (p. 99). The IFE Matrix of Smith and Wesson came in handy as I sought to evaluate the internal environment of the firearms maker with an aim of revealing both its strengths and weaknesses. In essence, this analysis demonstrates that as...

…with a total weight score of 3.04, Smith & Wesson cannot be regarded weak internally.

On the basis of this exercise, it should be noted that in the final analysis, the relevance of IFE matrix when it comes to the formulation of strategy cannot be overstated. However, it is important to note that on its own, the IFE matrix lacks significant value as far as the sound formulation of strategy is concerned. In that regard, therefore, it ought to be combined with other strategic management and assessment tools including, but not limited to, the EFE (external factors evaluation) matrix and the SWOT…

Sources used in this document:

References

Lodato, M.W. (2014). A Handbook for Managing Strategic Processes. Bloomington, IN: Author House.

Smith and Wesson (2017). History of Smith & Wesson. Retrieved from http://www.smith-wesson.com/company/history

Cite this Document:
Copy Bibliography Citation

Related Documents

Business Internal Factors for Entrepreneurial
Words: 995 Length: 3 Document Type: Research Paper

Integrating network relationships with entrenched resources, can lead to the development of organizational ability for achieving long-range business sustainability. Internal and external knowledge processes are a characteristic of organizational capabilities. Building organizational capability is reliant on the qualities of networks, tacit knowledge, collective learning, and organization of work, delivery of value, coordination of diverse skills, commitment, involvement, and flexibility within organizational structures. Similarly, firm value formation helps to build organizational

External/Internal Factors Nike Is an
Words: 1449 Length: 5 Document Type: Thesis

Contract global employment under the Nike Code of Conduct has been altered significantly, as diversity of legal and social standards for employment come into play in Nike factories all over the world. Nike also actively seeks to allow contractor managers and employees visits to domestic operations of both management and manufacture and hires within these pools when they can to increase domestic diversity. Ethics are an essential aspect of the

Recidivism External and Internal Factors
Words: 2993 Length: 10 Document Type: Research Proposal

Areas that have minority groups like African America and Hispanics are known to have high incidences of gang related crimes than the other all white neighborhood (Rice 1975).Gang crime is deeply rooted in such neighborhoods, making it very easy for the residents, especially the young people to fall prey to gang related crimes. People living in such areas have a high tendency of recidivism than other areas, because once

External/Internal Factors: The Impact of
Words: 626 Length: 2 Document Type: Term Paper

Now, both services are under one entity for many consumers. In terms of leading the market share, the greater the connection between the wireless and landline services, the better able the merged entity will be able to extend incentives to consumers to make use of the company for both technical services, such as the rollover options advertised on the company, expanded Mobile to Mobile calling, and access to the ALLOVER

United Way External Internal Factors
Words: 582 Length: 2 Document Type: Thesis

Organizing Out of ethical concerns regarding distribution of funds, in 2002, the United Way of America reorganized its operating structure. The goal was to transform the primary governing body into a leadership Board of Trustees "comprised of diverse volunteers who are senior representatives of the largest, most influential donors and sponsors, noted intellectual, civic, moral leaders and other stakeholders" (Governance, 2010, The United Way). This was also designed to ensure that

Nokia's Internal Factors Make It
Words: 567 Length: 2 Document Type: Case Study

Nokia's path -- based on Symbian, relatively slow innovation and a focus on low-margin emerging markets -- has not benefitted the company much. Yet, it still has some valuable assets. The firm may no longer have any 'hot' products, but the Nokia name is still respected. In addition, the company still has some financial health as well. That said, Nokia is struggling to find its way in the smartphone

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now