Efas Ifas on Oprah Winfrey
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There are two main studies that show how a corporation, or in this case an individual, has reached success at the same time that it can avoid major blunders. These analyses are known as External factors analysis summary (EFAS) and internal factors analysis summary (IFAS).
The case of Oprah Winfrey: the story of an entrepreneur is filled with information that can be used in either study. The EFAS shows both opportunities and threats that have affected Oprah Winfrey throughout her career. The EFAS can be described as outside influences that affect the outcome of the individual. The following table illustrates such factors for Oprah in her career.
Table 1.
EXTERNAL FACTOR ANALYSIS
SUMMARY (EFAS)
External Strategic Factors:
(Opportunities/Threats)
Weight
Rating
Weighted Score
Opportunities:
Raised by grandmother
Current financial stability
Development in different medias
Reaching to individuals worldwide
Change the format of the talk show
Threats:
New and old competitors in magazine, cable etc
Trusting of individuals
Knowledge of business world
Financial upbringing
Loss of innocence
Total 1.00 3.05
As illustrated in this table the weight of each category has been given a numerical amount in which the total should not surpass 1.00. These amounts account for 1.0 allocated for most important to 0.0 to not important. The Rating has been allocated values ranging from 5.0 which represents outstanding to 1.0 which represents poor. These show the individuals response to each specific factor.
The opportunities have been given these amounts for a particular reason starting with her upbringing with her grandmother. Oprah’s childhood was very tumultuous and the only individual which taught her moral and values which she carries to this day was her grandmother. This background can still be seen in the way Oprah deals with individuals in a day to day basis regardless of social stature. This is the reason behind the numerical value of .05 and a rating of 3.0.
The next opportunity is her current financial stability, this allows her to reach and help as many people as possible. She has the good fortune to teach individuals and guide them like her grandmother and father did for her. Therefore, this accounts for 1.0 and 4.5 in rating.
Moreover, the development in different Medias is an opening that has been given to her not only for her celebrity but for her humanitarian work. She has started a magazine that jointly with her talk show mentions problems in today’s society as well as health for women, she in addition has created a new cable channel which also gives tools for individuals to achieve their goals,