Steps The following step-by-step plan can be helpful to guide the rating process of the EFE and IFE matrices: Step 1 First, the most important external and internal factors must be identified. They can be used for building an advanced SWOT analysisfor instance. David, F. The simplest way to gain information on the external environment is the PEST analysis ; this model analyses the influence of Social, Technological, Economic and Political factors on macro level within the organisation.
Journal of Applied Business Research28 5 A Competitive Profile Matrix CPM is an external strategic analysis companies can use to compare themselves to their competitors. The ratings range from 1 to 4, where 1 is a poor rating, 2 an average, 3 an above average, and 4 a superior rating.
A low score for the internal rating indicates that the company is weaker compared to its competitors. Extending the competitive profile matrix using internal factor evaluation and external factor evaluation matrix concepts.
What are the employees proud of and what is going well within the organisation?