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 0.0 (not important) to 1.0 (very important). These weights show the relative importance. The total of all the weights should equal 1.0. 3. Assign a 1-4 rating to each factor to indicate how effective the firm’s current response strategy is: 1= the response is poor, 2 = the response is average, 3 = the response is above average, and 4 = the response is superior. 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 0.0 (not important) to 1.0 (very important). These weights show the relative importance. The total of all the weights should equal 1.0. 3. Assign a 1-4 rating to each factor to indicate how effective the firm’s current response strategy is: 1= the response is poor, 2 = the response is average, 3 = the response is above average, and 4 = the response is superior. 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.
Purchasing and Supply Chain Management
6th Edition
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
ChapterC: Cases
Section: Chapter Questions
Problem 5.3SD: Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling...
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B. 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 0.0 (not important) to 1.0 (very important). These weights show the relative importance. The total of all the weights should equal 1.0.
3. Assign a 1-4 rating to each factor to indicate how effective the firm’s current response strategy is: 1= the response is poor, 2 = the response is average, 3 = the response is above average, and 4 = the response is superior.
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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