CPM Ceasars Entertainment Describe the nature and purpose of an external assessment in formulating strategies. Identify and discuss 10 external forces that impact organizations. Explain Porter’s Five-Forces Model and its relevance in formulating strategies. Describe key sources of information for identifying opportunities and threats. Discuss forecasting tools and techniques. Explain how to develop and use an External Factor Evaluation (EFE) Matrix. Explain how to develop and use a Competitive Profile Matrix (CPM). What are the strengths and weaknesses of our major competitors? What products and services do we offer that are unique in the industry? What are the objectives and strategies of our major competitors? How will our major competitors most likely respond to current economic, SCDE, political, governmental, legal, technological, and competitive trends affecting our industry? How vulnerable are the major competitors to our new strategies, products, and services? How vulnerable is our firm to successful counterattack by our major competitors? How does our firm compare to rivals in mastering the social-media conversation in this industry? To what extent are new firms entering and old firms leaving this industry? What key factors have resulted in our present competitive position in this industry? How are supplier and distributor relationships changing in this industry?