Which stage of the strategy formulation framework includes an Internal Factor Evaluation Matrix and a Competitive Profile Matrix?

		input
		matching
		decision
		research

What is the first step in designing an EFE Matrix?

		Identifying key external factors in the industry
		Summing the weighted score for each competitor
		Calculating the sales of each competitor
		Drawing the horizontal and vertical lines for the matrix

Strategy evaluation is necessary because

		internal and external factors are constantly changing.
		the SEC requires strategy evaluation.
		competitors change their strategies.
		firms have limited resources

which of the following is not one of the characteristics of long-term strategic objectives?

		Quantifiable
		Measurable
		Realistic
		Non-hierarchical