Determine at least 3 external factors as “opportunities”, and 3 other external f
ID: 362069 • Letter: D
Question
Determine at least 3 external factors as “opportunities”, and 3 other external factors as “threats”.
Compile an External Factor Evaluation (EFE) Matrix (with specific internal factors, weights, scores, and weighted scores) as an analytic tool for technically evaluating the focal company.
The company is Monmouth Rubber & Plastic Corp.
EFE (External Factor Evaluation) Matrix
EFE – Key External Factors
Opportunities
Weight
Rating
Weighted Score
Threats
Totals for EFE
1.0
(Leave this cell blank)
Why did you choose those opportunities and threats?
(Please keep in mind you need to discuss at least 3 supporting reasons for each of these respective factors.)
What do the respective weighted EFE scores mean for that organization from a strategic planning viewpoint?
What are some strategic implications by interring based on the total weighted scores that are derived from the EFE matrix respectively?
Support the rationale for your explanation.
EFE – Key External Factors
Opportunities
Weight
Rating
Weighted Score
Threats
Totals for EFE
1.0
(Leave this cell blank)
Explanation / Answer
Monmouth Rubber & Plastic Corp is US based company which produces cell sponges and plastic materials for home & industrial applications. Lest try to look into the external factor evaluation matrix-
EFE – Key External Factors
Overall rating for EFE is 2.75, which indicates that business could have a little efficiency to respond to the outer challenges.
The reason for choosing the above factors as the major opportunities was because -
Due to the onset of globalization, new business avenues are opening up every day, which gives the enormous opportunity to any business to expand its presence overseas, provided its eager to do so.
Monmouth Rubber & Plastic Corp are working on new product portfolios and are investing a good amount of earnings in adopting the new technology which can potentially increase the overall throughput.
If we consider about the potential threats then presence of other quality competitors, and potential bureucratic hurdles could be the real business denominator for Monmouth Rubber & Plastic Corp. Also if innovation or new products are not planned for future then consumers might be tempted to go the other competitotrs or brands which can provide them (consumers) a better quality or new class of products.
Considering the overall EFE matrix score, Monmouth Rubber & Plastic Corp should work on innovations and tap the unexplored market and opportunities with sense of urgency and gving the due importnace to the employee satisfaction.
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