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How to Prepare the External Factor Evaluation Matrix?

By Richard Daniels Reading Time: 4 mins
Updated August 21, 2020

The external factor evaluation matrix (EFE Matrix) is prepared by considering certain key external factors. These key external factors need to be properly summarized in order to develop an effective external factor evaluation matrix. The information related to economic, social, demographic, cultural, technological, legal, political, governmental & environmental variables is summarized & evaluated by the […]

Explain the Low Cost Leadership Strategies?

By Richard Daniels Reading Time: 4 mins
Updated August 22, 2020
Cost leadership Strategies

Low-cost leadership strategies enable an organization to develop standardized products in large volume at low cost, which give that organization a competitive edge over the competitors in the market. When products are manufactured in bulk, the cost of production reduces, which facilitates the organization to keep the prices of its products low in the market. […]

What Is Intensive Strategy? 3 Types of Intensive Strategies

By Richard Daniels Reading Time: 3 mins
Updated August 7, 2020
Intensive Strategies

Intensive strategies are those strategies, which demand furthermore intensive efforts to improve the performance of existing products in the market. We may also say that when an organization struggles to improve its competitive position with the current products then different types of intensive strategies should be considered. Intensive efforts are needed to employ when intensive […]

8 Strategic Management Process in Detail

By Richard Daniels Reading Time: 3 mins
Updated August 7, 2020
Strategic Management

A strategic management process is way through which management able to make and implement strategies, which are helpful for business organizations to achieve their objectives and goals. We may also say that the strategic management process is a set of decisions along with actions done by managers to conclude long time performance of the organization. […]

What Is Diversification Strategy? 3 Types Of Diversification Strategies

By Richard Daniels Reading Time: 3 mins
Updated September 15, 2020
diversification strategy

A diversification strategy is that kind of strategy which is adopted by an organization for its business development. The strategy in which an organization plans as to how to enter into a new market which the organization is not in, while at the same time creating a new product for the new market. Types of […]

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