Internal factor evaluation (IFE) matrix is a strategic management tool to audit or evaluate the strengths and weaknesses in the major functional areas of a business. IFE matrix also provides a basis for identifying and assessing the relationship between the fields. The internal factor evaluation matrix or short IFE matrix is used in the formulation of the strategy.IFE Matrix together with the EFE matrix is a tool for building strategies can be used to evaluate how well a company is done in case the internal strengths and weaknesses of a company is determined. The IFE matrix method conceptually relates to methods of Balanced Scorecard in some aspects.Conduct internal audit and identify both strengths and weaknesses in all areas of business. It is suggested that identify 10-20 internal elements, but can give the IFE matrix, the better. The number of elements that have no effect on the scope of his authority score (discussed below) because the weights always sum to 1.0, but it helps reduce the estimated errors subjective results. First, list the strengths and weaknesses. It's wise to be as specific and objective as possible. You can for example use the percentage, rate, and the number of comparisons.
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