MACYS
Macys EFE Matrix and CPM: Enhancing the Companys Competitive Advantage
From the onset, it would be prudent to note that as Godfrey (2015) indicates, the relevance of the EFE matrix cannot be overstated when it comes to the evaluation of the external environment of an enterprise and identification of both threats and opportunities. This particular tool, as Godfrey (2015) further indicates, was first introduced in a book titled Strategic Management, by Fred R. David. In the case of Macys EFE matrix, weights have been assigned so as to indicate how important each of the identified factors are. This is especially important given that not all factors are of the same level of importance. Thus, for Macys to succeed in this particular industry, it should be aware of which factors should be prioritized. The assignment of weights comes in handy on this front. Thus, the most important opportunities for Macys are inclusive of online shopping, supply chain and third party risk; global, legal, and external risks; economic conditions; newcomers; apparel manufacturers seeking to offer for sale products directly to consumers; the unique challenges posed by the pandemic; and the growth of...
…These have a score of 0.10 and above. The rating for values in this case demonstrates how Macys and its two competitors (i.e. Dillards and Costco) are doing on each front. Thus, Macys is weakest in the realms of employee dedication and price competitiveness. These have the lowest rating. We also have the scores which would help us determine which of the three companies is relatively stronger. Macys and Costco have a tie in as far as the top score for employee dedication is concerned, whereas the top scorer in terms of price competitiveness happens to be Costco. Thus, Macys should deploy strategies to further enhance price competitiveness, i.e. by way of…
