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TOWS Analysis: A Step by Step GuideA TOWS analysis is a variant of a SWOT analysis and is an acronym for Threats, Opportunities, Weaknesses and Strengths. Similar to a SWOT, a TOWS analysis will involve the identification of an organisation’s strengths, weaknesses, opportunities and threats; however, often a key criticism of a SWOT analysis is that it doesn’t show the relationships between the different factors and categories. For example, a particular threat might make a weakness much more significant. Whereas a TOWS analysis will look to match internal factors to external factors to help identify relevant strategic options that an organisation could pursue. It can help an organisation to see how it can take advantage of opportunities, reduce threats, overcome weaknesses and exploit any strengths A TOWS is a commonly used strategic planning tool and can add real value to an organisation, helping to take strategic planning one step further. Below is an example TOWS matrix. A TOWS analysis enables an organisation to match its internal strengths, and external opportunities (SO) to develop ‘maxi-maxi’ strategies – those with the greatest potential for success. For example, strengths such as high brand recognition or customer loyalty could be combined with the opportunity to launch a new product or service. At the other extreme, it highlights the organisation’s vulnerability to threats based on its weaknesses and facilitates the development of strategies that minimise these and avoid threats (WT) – ‘mini-mini’ strategies. For example, such strategies could include developing strategic alliances or a more drastic strategy could be to withdraw from a specific market altogether. In between, mini-maxi (WO) and maxi-mini strategies (ST) are designed to strengthen weaknesses, utilising opportunities, and minimise threats utilising strengths. An example mini-maxi strategy (WO) is that an organisation may have identified an opportunity to outsource some aspects of its business operations, overcoming the weakness of lack of specific skills within the organisation. It’s important to remember that a TOWS analysis will not point to which specific strategy to adopt, but it does focus attention the areas where action is required, and given some indication of the nature of that action. Want to improve your knowledge of marketing strategy? Simply email or call 01865 515255 to find out more. Reference: Weihrich, H. (1982). The TOWS matrix – A tool for situational analysis. Long range planning, 15(2), 54-66. 2021-10-29T12:08:15+01:00Share This Story, Choose Your Platform!Related PostsNotes This preview shows page 2 - 4 out of 6 pages. 8.Which section of the SWOT Matrix involves matching internal strengths with externalopportunities?a.The WT cellb.The SW cellc.The WO celld.The ST celle.The SO cellAns: ePage: 221 9.Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?Page: 221 Get answer to your question and much more 10.Which strategies are defensive tactics directed at reducing internal weaknesses and avoiding environmentalthreats.Page: 221 Get answer to your question and much more 11.Which of the following is not a step of a SWOT Matrix? Get answer to your question and much more We have textbook solutions for you! The document you are viewing contains questions related to this textbook. Marketing 2018 Ferrell/Pride Expert Verified c.Match internal weaknesses with external threats and record the resultant WT strategies.d.List the firm’s external weaknesses.e.List the firm’s external opportunities.Ans: dPage: 221-22212.Which of these is not a SPACE Matrix quadrant?a.Aggressiveb.Defensivec.Competitived.Offensivee.ConservativeAns: dPage: 225 13.The two internal dimensions represented on the axes of the SPACE Matrix arePage: 225 Get answer to your question and much more 14.What are two external dimensions of the SPACE Matrix?Page: 226 Get answer to your question and much more 15.The two positive-rated dimensions on SPACE Matrix arePage: 226 Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 6 pages? Upload your study docs or become a Course Hero member to access this document We have textbook solutions for you!The document you are viewing contains questions related to this textbook. The document you are viewing contains questions related to this textbook. Marketing 2018 Ferrell/Pride Expert Verified Which section of the SWOT involves matching internal strengths with external opportunities?The SWOT analysis is comprised of four factors where the strength and weakness are internal factors and opportunities, and threats are external factors. The SO cell in the SWOT matrix combines the internal strengths of the business with external opportunities.
Which stage of the strategyStage 1 of the strategy-formulation analytical framework consists of; - The External Factor Evaluation (EFE) Matrix. - The Internal Factor Evaluation (IFE) Matrix. - The Competitive Profile Matrix (CPM). - Stage 1 Called the input stage, Stage 1 summarizes the basic input information needed to formulate strategies.
Which strategy of the SWOT matrix uses a firm's strengths to avoid or reduce the impact of external threats?ST strategies—use a firm's strengths to avoid or reduce the impact of external threats.
What are the steps involved in constructing a SWOT matrix?Use the following 8 steps to conduct a SWOT analysis.. Decide on the objective of your SWOT analysis. ... . Research your business, industry and market. ... . List your business's strengths. ... . List your business's weaknesses. ... . List potential opportunities for your business. ... . List potential threats to your business.. |
Which section of the swot matrix involves matching internal strengths with external opportunities?
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