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Explain how to develop and use an External Factor Evaluation (EFE) Matrix. Discuss the five steps needed...

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Operations Management

Explain how to develop and use an External FactorEvaluation (EFE) Matrix.

Discuss the five steps needed to develop an EFEMatrix.

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External Factor Evaluation Matrix is developed by identifying the external factors affecting the firms business environment It is a tool used to evaluate the threats and opportunities pertaining to the external environment for the firm and use it for strategy development The external factors impacting the firm depending on the type of business can be categorized into    See Answer
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