Research the Abercrombie and Fitch website. Using your research findings from the Library and the Internet, develop both an EFAS (External Factors Analysis Summary) table and an IFAS (Internal Factors Analysis Summary) table. The tables are to be submitted in one Excel file (one sheet for the EFAS and one sheet for the IFAS), separate from your assignment that will be written in MS Word.
You will be graded on your knowledge of the software and math in building the MS Excel tables, and on your ability to communicate in writing and present your arguments. The description of both your environmental and internal scanning process, including what factors you considered and why will be in your MS Word file.
In summary, you will submit two files: one file in MS Excel, which will count as two written pages, and one file in MS Word, which should be 4-6 pages in length.
To research the Abercrombie and Fitch website, you can follow these steps:
1. Begin by opening a web browser and navigating to the Abercrombie and Fitch website. The URL for the website is www.abercrombie.com.
2. Once on the website, explore the different pages and sections to gather information about the company. Pay attention to details such as the company's history, mission statement, product offerings, target market, and any recent news or updates.
3. Take notes on the various external factors that may impact Abercrombie and Fitch's business environment. These can include factors like economic conditions, industry trends, technological advancements, legal and regulatory factors, competition, and social and cultural factors.
4. Use the library and the Internet to conduct further research on Abercrombie and Fitch and its external environment. You can start by searching for news articles, industry reports, and market analyses related to the retail industry and Abercrombie and Fitch specifically. Pay attention to any relevant information that can help you identify opportunities and threats.
5. Once you have gathered enough information, you can start building the EFAS (External Factors Analysis Summary) table using MS Excel. The EFAS table is used to summarize and evaluate the external factors affecting a company. It typically consists of a list of key external factors, their weight, rating, and weighted score.
6. In the EFAS table, identify the external factors relevant to Abercrombie and Fitch and assign a weight to each factor based on its importance or impact on the company. The weights should add up to 1.0.
7. Evaluate each external factor by assigning a rating to it, indicating its strength or weakness for Abercrombie and Fitch. The rating scale can vary, but commonly ranges from 1 (poor) to 4 (strong).
8. Multiply the weight by the rating to calculate the weighted score for each external factor.
9. Finally, calculate the total weighted score by summing up all the weighted scores. This will provide an overall assessment of the company's external environment.
10. Repeat the process for the internal factors analysis, following similar steps as for the external factors analysis. Identify key internal factors such as strengths and weaknesses of Abercrombie and Fitch, assign weights and ratings, and calculate the weighted scores and total weighted score.
11. Create a new MS Excel file with separate sheets for the EFAS and IFAS tables. Input your findings into the respective tables, ensuring they are clear, organized, and properly formatted.
12. Save the Excel file and prepare your assignment in MS Word, providing a description of your environmental and internal scanning process, the factors considered, and the rationale behind their inclusion.
By following these steps, you should be able to gather the necessary information and develop both the EFAS and IFAS tables using MS Excel, as well as document your research findings and analysis in MS Word.