When evaluating internal and external factors that may impact a firm's strategy and performance, it is important to: Avoid using numbers or quantifying factors as that can affect the formulation of strategies Quantify the factor using ratios, percentages, dollars or other numbers Rely on hunches or best guesses as to the likelihood of a trend or event occurring Only include factors that your competitors are not likely to notice or consider Restrict your analysis to internal and external factors that your firm has previously considered When evaluating internal and external factors that may impact a firm's strategy and performance, it is important to: Avoid using numbers or quantifying factors as that can affect the formulation of strategies Quantify the factor using ratios, percentages, dollars or other numbers Rely on hunches or best guesses as to the likelihood of a trend or event occurring Only include factors that your competitors are not likely to notice or consider Restrict your analysis to internal and external factors that your firm has previously considered