Answer to Question #147120 in Economics for Muhammad Abrar

Question

A.   Construct an EFE Matrix for IU’s business school using the five steps as follows:

List key external factors as identified in the external-audit process. Include a total of 20 factors from both the opportunities and threats

Answer 1

External Factor Evaluation (EFE) matrix method is a strategic-management tool often used for assessment of current business conditions. Key external factors can be listed after analysing the external environment with the tools like PEST analysis, Porter’s Five Forces or Competitive Profile Matrix.