External Factor Evaluation Matrix-Apple Inc
Analysts use the external factor evaluation (EFE) matrix to evaluate and summarize economic, social, cultural, political, environmental, technological, and legal issues that affect the company (Yie et al., 2022). The matrix for Apple Inc. is assessed, and the findings and implications for the company are highlighted. According to Suhendah et al. (2022), the EFE matrix provides a weighted total average that can fall between 1.0 and 4.0. Notably, 4.0 is the highest score in the matrix, while 1.0 is the lowest score. Considering the case of Apple Inc., the matrix score is 2.85. A 2.85 score is slightly above the average point and shows that the company operates at a medium level when responding to external factors. The score does not imply a bad performance for the company in responding to external factors. However, it indicates that there is still sufficient room for improvement in the future.
The EFE matrix differentiates opportunities and threats that face Apple Inc. Regarding opportunities, the highest weighted score is associated with the brand consciousness of modern generations at 0.48, followed by the opportunity posed by competitors’ reactivity at 0.4. These are the two significant opportunities that Apple Inc. should focus on to ensure market dominance thrives (Greg, 2020). Other factors present fewer opportunities to the company. However, they should not be ignored entirely because their gross effect is substantial. Regarding threats, Apple Inc. faces a major threat from expectations maintained by consumers, which has a weighted score of 0.39 (Li, 2021). Notably, this implies that consumers can quickly shift to competitors if their expectations are unmet. Therefore, the company should consider consumer expectations in all its products. All the other threats identified have moderate effects and can be considered wholesome by the company.
References
Greg, R. (2020). Strategic Review on Apple Inc. Marketing in the United States of America. Journal of Marketing and Communication, 3(2).
Li, Y. (2021). Apple Inc. Analysis and Forecast Evaluation. Proceedings of Business and Economic Studies, 4(4), 71-78.
Suhendah, R., Angelina, A., Ricardo, R., & Stevansyah, N. (2022). MSME Business Management and Development with IFE-EFE Matrix. Journal of Innovation and Community Engagement, 3(3), 175-188.
Yie, C. E., Zhi, C. E., & Ping, N. T. S. (2021). A Critical Analysis of Internal and External Environment: Case Study of Apple Inc. Journal of International Business and Management, 4(10), 01-14.
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Question 
External Factor Evaluation Matrix-Apple Inc
Create an External Factor Evaluation Matrix for Apple company by completing the following steps:
Step 1: See Chapter 3 of the David text to learn how to complete an EFE Matrix.
Step 2: Open the Strategic-Planning Template you started in Topic 1. Click on the EFE tab at the bottom of the template.
Step 3: Complete the matrix using the external opportunities and threats you identified in the Topic 1 assignment. Make sure the factors you include are actionable, quantitative, comparative, and specific.
Step 4: Use the online sources listed in Table 3-7 located in Chapter 3 of the David text to assist you with your analysis and calculations. Be sure not to include strategies as opportunities; but do include as many monetary amounts, percentages, numbers, and ratios as possible.
Step 5: In 250-350 words, write a brief explanation of the findings and implications of the data identified in the EFE Matrix. See the Sample Strategic Plan for Colgate-Palmolive (2019) as an example.