What is the first step in designing an EFE Matrix?
A) Identifying key external factors in the industry
B) Summing the weighted score for each competitor
C) Calculating the sales of each competitor
D) Drawing the horizontal and vertical lines for the matrix
E) Determining four competitors

Question

Quizplus · Accepted Answer

The first step in designing an EFE Matrix is to identify key external factors in the industry. This involves gathering information on factors such as economic conditions, competition, technology, regulations, and social trends that may impact the industry and its players. Only after identifying these factors can they be evaluated and weighted, and a comprehensive EFE matrix can be developed.

What Is the First Step in Designing an EFE Matrix