W 4 The table below presents the internal and external factor evaluation matrix (IFE & EFE matrix) for Fashionlite Ltd. Prepare the IE matrix for Fashionlite Ltd based on the information. Calculate the weighted score, total weighted score for IFE and EFE matrix and interpret the findings and provide the recommendation. (Total: 20 marks) Opportunities RWS Customer trend towards fashionable clothing is increasing 0.09 4 Younger generation are becoming more environmentally conscious. 0.05 Government is providing incentives to boost the apparel industry. 0.03 3 Economy is forecasted to improve globally. 0.05 2 Customers are influenced by information in social media. 0.10 3 Demand is increasing in developing countries. 0.12 4 Sales through online mode is improving. 0.09 2 Threats New entries from foreign companies are causing increase in 0.10 2 competition Price of synthetic materials are reducing 0.08 2 Price fluctuation of environmentally friendly raw material. 0.07 2 New tariff imposed in overseas market. 0.07 2 Cost of advertising is increasing. 0.06 2 There is potential for suppliers to increase price of supplies. 0.09 3 1.00 Strengths W RWS Experienced top management is able to maintain continuous good 0.10 4 company performance. Branding of company and product drive customer loyalty. 0.09 4 Investment in product innovation drives sales. 0.08 3 Good relationship with distributors. 0.07 3 Sales through multi-mode is driving sales up. 0.10 3 Employees retention through good compensation package. 0.093 Good planning strategy 0.09 4 Weaknesses Sales in some product lines have decreased. 0.101 Net profit has declined slightly compared to previous years due to 0.09 2 poor sales of some product lines. Cost of production increased due to instability of raw materials price. 0.08 2 Hiring of more employees in Rand D department has increased cost 0.06 2 of labour. Outsourcing some parts of human resource is costly. 0.05 1