Construct an EFE Matrix for IU’s business school using the five steps as follows: 1. List key external factors as identified in the external-audit process. Include a total of 20 factors from both the opportunities and threats. 2. Assign to each factor a weight from 0 to 1. These weights show the relative importance. The total of all the weights should equal 1. 3. Assign a 1 to 4 rating to each factor to indicate how effective the firm’s current response strategy is. 4. Multiply each factor’s weight by its rating to get a weighted score. 5. Sum the weighted scores for each variable to determine the total weighted score for the organization.
Construct an EFE Matrix for IU’s business school using the five steps as follows: 1. List key external factors as identified in the external-audit process. Include a total of 20 factors from both the opportunities and threats. 2. Assign to each factor a weight from 0 to 1. These weights show the relative importance. The total of all the weights should equal 1. 3. Assign a 1 to 4 rating to each factor to indicate how effective the firm’s current response strategy is. 4. Multiply each factor’s weight by its rating to get a weighted score. 5. Sum the weighted scores for each variable to determine the total weighted score for the organization.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Construct an EFE Matrix for IU’s business school using the five steps as follows:
1. List key external factors as identified in the external-
2. Assign to each factor a weight from 0 to 1. These weights show the relative importance. The total of all the weights should equal 1.
3. Assign a 1 to 4 rating to each factor to indicate how effective the firm’s current response strategy is.
4. Multiply each factor’s weight by its rating to get a weighted score.
5. Sum the weighted scores for each variable to determine the total weighted score for the organization.
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