Business Strategy and Policy
Assignment #3
Perform an External Factor Evaluation Matrix on Vericel Corporation. The critical thing to remember about this analysis is that you should develop a thorough understanding of the factors chosen. Because of the importance of factor knowledge, you should acquire a minimum of five external sources of information regarding the factors that you choose. Your analysis should include a chart similar to the one attached to this document.
Parameters:
External Factor Evaluation
Choose 6-10 external factors for analysis (total factors will depend on the nature of the industry)
Four pages or less of careful analysis
Uploaded chart must be customized, begin the assignment, and be on one page only!
Double spaced
Typed
For each factor write a paragraph or two as necessary discussing the nature of the factor, how it will impact the firm, and its importance to the future strategy of the firm (i.e., tell me why you assigned the rating score that you did).
INDUSTRY ANALYSIS: THE EXTERNAL FACTOR EVALUATION (EFE) MATRIX
An External Factor Evaluation (EFE) Matrix allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information. Illustrated in Table 1, the EFE Matrix can be developed in five steps:
