Which of the Following Is the First Step in Developing

question 30

Multiple Choice

Which of the following is the first step in developing an IFE Matrix?

• A) Determining the organization's structure
• B) Summing the weighted scores for each variable
• C) Identifying the organization's strengths and weaknesses
• D) Identifying the organization's functions of business
• E) Determining the lead strategist

---

Definitions:

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Risk Assumption

The act of taking on the potential for loss or harm as part of a project, investment, or business, often in pursuit of a reward.

Entrepreneur

An individual who creates, launches, and manages a new business, typically taking on significant financial risk.

Controlling

In management, it involves monitoring performance, comparing it with goals, and taking corrective action as needed.