Internal and External Factor Evaluation Matrix

The video tutorial explains factor evaluation matrices, tools used to assess a firm's strategic position by analyzing internal and external factors. It compares these matrices to SWOT analysis, highlighting the use of quantitative methods like importance weighting and rating scales. The process involves creating a table of factors, assigning weights, scoring, and evaluating the strategic position. The matrices can be used for both external and internal comparisons, aiding in strategy development and understanding the effectiveness of existing strategies.

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