Analyzing the Internal/External Competitive Profile Matrix

You will be able to use the Internal/External Competitive Profile Matrix to examine your industry and discover chances to provide your organization a competitive advantage by the end of this guided assignment. The Matrix is a strategic management tool that allows you to assess your firm against competitors and then determine all of the competitors' relative strengths and weaknesses based on external and internal criteria. To solve the shortcomings of the standard Competitive Profile Matrix, the Internal/External Competitive Profile Matrix was created. Weaknesses include subjective weight assignment and raking. As a result, the External/Internal Competitive Profile Matrix allows for uniform weighting and force raking, resulting in a more thorough analysis and decision-making.

They will use a spreadsheet to evaluate a division of a fast-food firm to show how the Matrix can be used. The case study example would enable you to apply the approach to your company or any other company of your choice. The project is designed for business leaders who desire a detailed understanding of their competitive environment and how their organization compares to competitors. Also, for strategists who want to assist organizations in making well-informed strategic decisions. You will be able to use the Matrix to examine your firm and make informed decisions to gain a competitive edge by the end of the project.

THE SKILLS YOU WILL DEVELOP

• strategy
• Management
• Entrepreneurship
• Innovation
• Leadership

LEARN STEP BY STEP:

• Task 1: Introduction: By the end of this task, you will explain the Internal//External Competitive Profile Matrix
• Task 2: External Factors: By the end of this task, you will determine the external factors and assign them weight
• Task 3: External Ranking: By the end of this task, you will rank the external factors of all the competitors
• Task 4: External Weighted and Total Scores: By the end of this task, you will compute the external weighted and total scores
• Task 5: Internal Factors: By the end of this task, you will determine the internal factors and assign them weight
• Task 6: Internal Ranking: By the end of this task, you will rank the internal factors of the all competitors
• Task 7: Internal Weighted and Total Scores: By the end of this task, you will calculate the internal weighted and total scores
• Task 8: Interpretation of Results: By the end of this task, you will use the results to make strategic decisions

Rating: N/A

Website: coursera.org/projects/analyzing-the-internalexternal-competitive-profile-matrix