External factors as identified in external-audit process

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Reference no: EM132229710

My company is adidas

1) List key external factors as identified in the external-audit process. Include a total of from eight to ten factors, including both opportunities and threats affecting the firm and its industry. List the opportunities first and then the threats. Be as specific as possible, using percentages, ratios, and comparative numbers whenever possible.

2) Assign to each factor a weight that ranges from 0.0 (not important) to 1.0 (very important). The weight indicates the relative importance of that factor to being successful in the firm's industry. Opportunities often receive higher weights than threats, but threats too can receive high weights if they are especially severe or threatening. Appropriate weights can be determined by comparing successful with unsuccessful competitors or by discussing the factor and reaching a group consensus. In the end, the weight assigned is wholly up to you and your considered judgment… the more important a factor is to future success, the greater the weight assigned. The sum of all weights assigned to the factors must equal 1.0.

3) Assign a 1-to-4 rating to each key external factor to indicate how effectively the firm's current strategies respond to the factor, where 4 = the response is superior, 3 = the response is above average, 2 = the response is average, and 1 = the response is poor. Ratings are based on effectiveness of the firm's strategies to date in your judgment. It is important to note that both threats and opportunities can receive a 1, 2, 3, or 4.

4) Multiply each factor's weight by its rating to determine a weighted score.

5) Sum the weighted scores for each variable to determine the total weighted score for the organization.

Reference no: EM132229710

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