Using your research findings from the Library and the Internet, develop both an EFAS (External Factors Analysis Summary) table and an IFAS (Internal Factors Analysis Summary) table
What did YOU find in the library and the internet?
This absolutely makes no sense out of context. Surely this was included in some part of a longer assignment. I would reread that.
To develop an EFAS (External Factors Analysis Summary) and an IFAS (Internal Factors Analysis Summary) table, you can follow these steps:
1. EFAS (External Factors Analysis Summary) Table:
- Identify key external factors: These are factors that could impact the organization's performance but are beyond its control. Examples can include economic conditions, industry trends, government regulations, competitive landscape, etc.
- Assign weightage: Assign weightage to each factor based on its perceived importance or influence on the organization's strategic position. Use a scale of 0.0 to 1.0, where 0.0 represents no influence and 1.0 represents the highest influence.
- Rate each factor: Rate each factor on a scale of 1 to 5, where 1 represents a weak impact and 5 represents a strong impact. This rating signifies the extent of the impact of the factor on the organization.
- Calculate weighted score: Multiply the weightage assigned to each factor by its rating to obtain a weighted score for each factor.
- Summarize findings: Sum up the weighted scores for each factor and provide a brief explanation of the potential implications or opportunities created by those factors.
2. IFAS (Internal Factors Analysis Summary) Table:
- Identify key internal factors: These are factors that are within the organization's control and can influence its performance. Examples can include organizational structure, resources, capabilities, culture, leadership, etc.
- Assign weightage: Assign weightage to each internal factor based on its perceived importance or influence on the organization's strategic position. Use the same scale (0.0 to 1.0) as in the EFAS table.
- Rate each factor: Rate each factor on a scale of 1 to 5, where 1 represents a weak strength and 5 represents a strong strength. This rating signifies the extent of the factor's positive impact on the organization.
- Calculate weighted score: Multiply the weightage assigned to each factor by its rating to obtain a weighted score for each factor.
- Summarize findings: Sum up the weighted scores for each factor and provide a brief explanation of the organization's internal strengths and weaknesses identified by those factors.
Remember, both tables require careful analysis and consideration of various factors affecting the organization's external and internal environment. Researching and gathering information from the library and the internet can help you identify these factors and make well-informed assessments.