Identifying external and internal factors serve as the foundation for strategy formulation and policy implementation in organizations. This assignment is designed to aid you in identifying critical internal and external organizational factors. Focusing on a Caribbean company or organization of your choice, do the following:
1. Using Porter's Five Forces Model to identify key elements of each competitive force that can impact the firm
a. Evaluate the importance of each element for the organization
b. Decide whether the collective strength of all the elements combined is valuable for staying in the industry
2. Develop an Internal Factor Evaluation Matrix (IFE) and a Competitive Profile Matrix (CPM) for your organization.
3. Construct an External Factor Evaluation Matrix (EFE) for your organization
4. Based on your analyses and the industry type that your organization operates in, what type of strategy would you suggest your organization implement and why?