External Factor Evaluation Matrix
External Factor Evaluation Matrix
Strategy is sometimes defined as the match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors, the matching stage of the strategy formulation framework consist of five techniques that can be used in any sequence: the SWOT Matrix, the SPACE Matrix, the BCG Matrix, the IE Matrix, and Grand Strategy Matrix. These tools rely upon information derived from the input stage to match external opportunities and threats with internal strengths and weaknesses. Matching external and internal critical success factors is the key to effectively generating feasible alternative strategy. David and David (2015:259)
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