External Factor Analysis: Hop Hound Brew Pub

COVID-19 has been particularly challenging for the hospitality industry in Murray and across the rest of the country. In Module 5 you will be making the Craig (2020) case study about craft breweries in Montana. To gain experience with craft breweries and scanning the external environment, I would like for you to make an external factor analysis summary (EFAS; see example in Table 4.5) for Hop Hound Brew Pub https://hophoundbrewpub.com/ A few things to remember when conducting an EFAS:

1. Opportunities and threats occuroutsidean organization. For instance, consumer demand for craft beers is an external opportunity whereas a great recipe for a craft beer is an internal strength (strengths and weaknesses are covered in Chapter 5).

2. The management and business administration guide from the Murray State Library https://lib.murraystate.edu/friendly.php?s=management is a good resource that can be used to explore the external environmental (e.g., industry factors, socio-demographic factors). For example, there is a link to the U.S. Census Bureau that can be used to establish socio-demographic characteristics (e.g., age, income, education) for a local market.

3. Be sure to use reputable sources (e.g., industry publications, scholarly articles, reputable media sites) when conducting the analysis.

External Factors	Weight	Rating	Weighted Score	Comments
Opportunities
[insert opportunity 1]
[insert opportunity 2]
[insert opportunity 3]
[insert opportunity 4]
[insert opportunity 5]
Threats
[insert threat 1]
[insert threat 2]
[insert threat 3]
[insert threat 4]
[insert threat 5]
Total Scores	Weight should = 1		Average weighted score is 3.0

TABLE 4-5 External Factor Analysis Summary (EFAS Table): Maytag as Example External Factors Weight Rating Weighted Score Comments 2 3 4 5 Opportunities Economic integration of European .20 4.1 .82 Acquisition of Hoover Community Demographics favor quality appliances .10 5.0 50 Maytag quality Economic development of Asia 05 1.0 .05 Low Maytag presence Opening of Eastern Europe .05 2.0 .10 Will take time Trend to "Super Stores" .10 1.8 .18 Maytag weak in this channel Threats Increasing government regulations .10 4.3 43 Well positioned Strong U.S. competition .10 4.0 40 Well positioned Whirlpool and Electrolux strong globally 15 3.0 .45 Hoover weak globally New product advances 05 1.2 .06 Questionable Japanese appliance companies .10 1.6 .16 Only Asian presence in Australia Total Scores 1.00 3.15