External Factor Evaluation (EFE) Matrix Homework Help
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A strategic management tool which is usually used for the assessment or evaluation of current business condition is known as External Factor Evaluation (EFE) Matrix. It is a good tool which aims at visualizing and prioritizing the opportunities and threats which are faced by the business. In External Factor Evaluation (EFE) Matrix Homework Help, it is defined as the analytical technique which is related to the evaluation of external position of the organization or the strategic intents. Marketing and sales, planning, strategic management are some relatable management fields which are given in External Factor Evaluation (EFE) Matrix Homework Help.
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Steps to Create the External Factor Evaluation (EFE) Matrix
External Factor Evaluation (EFE) Matrix Assignment Help tells us how to create an External Factor Evaluation (EFE) Matrix as below
• List Factors: – The first step where a list of external factors is gathered and is divided into two groups of opportunities and threats.
• Assign Weights: – Here the weights to the external factors are assigned. This is described in brief in External Factor Evaluation (EFE) Matrix Assignment Help.
• Rate Factors: – In this step, a rate is being assigned to each external factor between 1 and 4.
• Multiplication of weights by rating: – The factor weights are multiplied with their rating so as to obtain the weighted score for each factor which are then added to find the total weights and is described briefly in External Factor Evaluation (EFE) Matrix Assignment Help.
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