Efas Ifas on Oprah Winfrey

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

.05

.10

.10

.15

.03

3.0

4.5

4.5

5.0

3.0

.15

.45

.45

.75

.09

Threats:

New and old competitors in magazine, cable etc

Trusting of individuals

Knowledge of business world

Financial upbringing

Loss of innocence

.05

.10

.20

.10

.02

2.5

1.0

2.0

3.5

4.0

.125

.20

.40

.35

.08

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, and as a result the value is .10 and 4.5.

Another avenue that she has encounter is that of reaching and touching lives every day. Her open persona lets individuals in her heart and assists them in their time of need. Shows like hurricane Katrina victims as well as shows regarding sexual abuse have helped many individuals in realizing that life is short and you should treat everyone like you want to be treated, for that reason this accounts for .15 and 5.0 respectively.

Last but certainly not least in her opportunities the way she changed the format of the now known talk show opened new doors for others to have their voices heard without using scandalous material hence the value of .03 and 3.0.

In addition to the opportunities presented to Oprah there are threats that if not handled in the appropriate time might affect her empire. The first threat mentioned on the table is the competition for her magazine, her cable network and /or her show.

Oprah began her career in the talk show arena with names like Phil Donahue. Since then talk shows hosts have come and gone but hers has prevailed. Hence, the weight of .5 and 2.5 rating. Next in line for risk is her trusting nature. Oprah is known to finalize a project utilizing her trust in the individual.

More times than not this approach has paid off but there has been instances in which her trust has come back to hunt her. One example is her well known book of the month club in 2005 she put her name and trusts in a book called: A Million little pieces by James Frey. After her stating in the show that the book was completely based in real life events an investigation showed that "these documents and interviews show, wholly fabricated or wildly embellished details of his purported criminal career, jail terms, and status as an outlaw wanted in three states" (Smoking gun,2005). Due to this incident she was conned in to believing something because of her trusting nature,