Exercise 3B Develop an EFE Matrix for Hershey Company

Purpose: This exercise will give you practice in developing an EFE matrix. An EFE Matrix summarizes the results of an external audit. This is an important strategic-planning tool widely used by strategists.

Instructions: Step 1 Join with two other students in class, and jointly prepare an EFE Matrix for Hershey.

Refer to the Cohesion Case (p. 26) and to Exercise 1B (p. 35), if necessary, to identify external opportunities and threats.

Make sure the factors you include are both specific and actionable.

Use the online sources listed in Table 3-8.

Be sure not to include strategies as opportunities, but do include as many monetary amounts, percentages, numbers, and ratios as possible.