Assignment Instructions:
1. Select a Business: Choose a business or organization to analyze. This could be a real company, or a hypothetical business. State its vision and mission statement.
2. Identify External Factors: Research and identify 10 key external factors that impact the business. Ensure these factors include: + 5 opportunities (favorable external conditions) + 5threats (unfavorable external conditions)
3. Assign Weights: Assign a weight to each factor based on its importance to the business's success. The weights should sum to 1.0. Use a scale from 0.0 (not important) to 1.0 (very important).
4. Rate Each Factor: Rate how well the business is currently responding to each factor. Use a scale from 1 to 4, where: 4 = the business's response is superior 3 = the business's response is above average 2 = the business's response is average 1 = the business's response is poor
5. Calculate Weighted Scores: Multiply the weight of each factor by its rating to obtain the weighted score for each factor.
6. Sum the Weighted Scores: Add all the weighted scores to obtain the business's overall score in the EFE Matrix.
7. Interpret the Results: Analyze the overall score to assess the business's external position