Ife-edited.docx

INTERNAL FACTOR EVALUATION (IFE) MATRIX Weight

Rating

Weighted Score

STRENGTHS 1. Relatively cheaper prices of drinks compared to other milk tea stores 2. Stable supply of resources: good relationship with suppliers 3. Focus to deliver good-quality teas

0.1

4

.40

0.06

3

.18

0.08

3

.24

4. Strategic location of the shop

0.09

4

.36

5. Owner supervises the shop

0.06

2

.12

6. Offers healthy food/snacks

0.08

3

.24

7. Financially Stable

0.06

3

.18

1. New to the Market

0.07

2

.14

2. No marketing strategy employed

0.1

1

.1

3. Limited space

0.07

2

.14

4. No separation of duties

0.06

2

.12

5. No vision, mission, and objectives for the business 6. No separate bank account for the business

0.06

3

.18

0.09

1

.09

WEAKNESSES

1.0

2.49