The Company established the shops with the same design and undertaken research and development activities in order to analyze the consumer preferences regarding the brand . As a result of the surveys conducted the company found the brand name as the major asset of the company , which could prove to be the main source of competitive advantage of the company .
Internal factor Evaluation (IFE ) of Laura Ashley Company
``A summary step in conducting an internal strategic- management audit is to construct an internal factor Evaluation (IFE ) Matrix . This strategy formulation tool summarises and evaluates the major strengths and weaknesses in the functional areas of a business , and it also provide a basis for identifying and evaluating relationships among those areas . Intuitive judgements are required in developing and IFE Matrix , so the appearance of a scientific approach should not be interpreted to mean this is an all-powerful technique . A thorough understanding of the factors included is more important than the actual numbers (David , 161-162 )
In order to effectively compete in the industry it is important for the company to analyse the its internal strengths and weaknesses . So that strengths should be used to take advantage of the opportunities for...