Efe Analysis
3
The External Assessment
“notable quotes”
If you’re not faster than your competitor, you’re in a tenuous position, and if you’re only half as fast, you’re terminal.
GEORGE SALK
The idea is to concentrate our strength against our competitor’s relative weakness.
BRUCE HENDERSON
If everyone is thinking alike, then somebody isn’t thinking.
G E O R G E PAT T O N
The opportunities and threats existing in any situation always exceed the resources needed to exploit the opportunities or avoid the threats. Thus, strategy is essentially a problem of allocating resources. If strategy is to be successful, it must allocate superior resources against a decisive opportunity.
WILLIAM COHEN
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.
CHARLES DARWIN
Organizations pursue strategies that will disrupt the normal course of industry events and forge new industry conditions to the disadvantage of competitors.
I AN C. MACMILLAN
Nothing focuses the mind better than the constant sight of a competitor who wants to wipe you off the map.
W AY N E C A L L O W AY
[ chapter objectives ]
After studying this chapter, you should be able to do the following: 1. Describe how to conduct an external strategicmanagement audit. 2. Discuss 10 major external forces that affect organizations: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive. 3. Identify key sources of external information, including the Internet. 4. A Retreat for Strategic Planning on the Adriatic Sea. Source: Forest David 5. Discuss important forecasting tools used in strategic management. Discuss the importance of monitoring external trends and events. 6. 7. 8. Explain how to develop an EFE Matrix. Explain how to develop a Competitive Profile Matrix. Experiential Exercise 3B The External Assessment Experiential Exercise 3C Developing an EFE Matrix for My
The External Assessment
“notable quotes”
If you’re not faster than your competitor, you’re in a tenuous position, and if you’re only half as fast, you’re terminal.
GEORGE SALK
The idea is to concentrate our strength against our competitor’s relative weakness.
BRUCE HENDERSON
If everyone is thinking alike, then somebody isn’t thinking.
G E O R G E PAT T O N
The opportunities and threats existing in any situation always exceed the resources needed to exploit the opportunities or avoid the threats. Thus, strategy is essentially a problem of allocating resources. If strategy is to be successful, it must allocate superior resources against a decisive opportunity.
WILLIAM COHEN
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.
CHARLES DARWIN
Organizations pursue strategies that will disrupt the normal course of industry events and forge new industry conditions to the disadvantage of competitors.
I AN C. MACMILLAN
Nothing focuses the mind better than the constant sight of a competitor who wants to wipe you off the map.
W AY N E C A L L O W AY
[ chapter objectives ]
After studying this chapter, you should be able to do the following: 1. Describe how to conduct an external strategicmanagement audit. 2. Discuss 10 major external forces that affect organizations: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive. 3. Identify key sources of external information, including the Internet. 4. A Retreat for Strategic Planning on the Adriatic Sea. Source: Forest David 5. Discuss important forecasting tools used in strategic management. Discuss the importance of monitoring external trends and events. 6. 7. 8. Explain how to develop an EFE Matrix. Explain how to develop a Competitive Profile Matrix. Experiential Exercise 3B The External Assessment Experiential Exercise 3C Developing an EFE Matrix for My