EFE and IFE,both tools are used to summarize the information gained from company’s external and internal environment analyses. The summarized information is evaluated and used for further purposes, such as, to build SWOT analysis or IE matrix. Even though, the tools are quite simplistic, they do the best job possible in identifying and evaluating the key affecting factors. Both tools are nearly identical so we’ll only show an example of an EFE matrix right now.

 

Taken from: https://www.strategicmanagementinsight.com/tools/ife-efe-matrix.html