Ropali
Title of the Case: Revlon,inc.-2007
Statement of the Problem: Revlon inc., gives minimal time and attention to internal and external assessment.
Areas of Consideration Financial Resources- From the 2007 events in Revlon inc., they have a long-term debt higher than previous years which implies that the company is either preocccupied with the thought of how to pay long-term debt, how to survive and how to avoid further expenses. Human Resources- Due to cost-cutting, employees are reduced into lower number. Time-
Alternative Courses of Action: * Conduct external factor evaluation (EFE Matrix) and internal Factor evaluation so that the company will have a realistic information to use in choosing the best strategy to pursue. The disadvantage of IFE compared to other tools is that it is subjective but it is far more realistic. The foundation for formulating strategies comprises of the study of the business environment as a whole. This aims at understanding the concept of external environment. It is necessary for any organization to identify the potential environment so that the goal of the organization are achieved. Therefore it becomes necessry for the organization to assess its environment especially its current and potential resources of the nature of the firm. * SWOT Analysis- This would allow achievable goals or objectives to be set for the organization. Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories: * Internal factors – The strengths and weaknesses internal to the organization. * External factors – The opportunities and threats presented by the external environment to the
Statement of the Problem: Revlon inc., gives minimal time and attention to internal and external assessment.
Areas of Consideration Financial Resources- From the 2007 events in Revlon inc., they have a long-term debt higher than previous years which implies that the company is either preocccupied with the thought of how to pay long-term debt, how to survive and how to avoid further expenses. Human Resources- Due to cost-cutting, employees are reduced into lower number. Time-
Alternative Courses of Action: * Conduct external factor evaluation (EFE Matrix) and internal Factor evaluation so that the company will have a realistic information to use in choosing the best strategy to pursue. The disadvantage of IFE compared to other tools is that it is subjective but it is far more realistic. The foundation for formulating strategies comprises of the study of the business environment as a whole. This aims at understanding the concept of external environment. It is necessary for any organization to identify the potential environment so that the goal of the organization are achieved. Therefore it becomes necessry for the organization to assess its environment especially its current and potential resources of the nature of the firm. * SWOT Analysis- This would allow achievable goals or objectives to be set for the organization. Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories: * Internal factors – The strengths and weaknesses internal to the organization. * External factors – The opportunities and threats presented by the external environment to the