Compute the four components of the SWOT Matrix to provide the basics of determining your TOWS analysis
Match the factors you computed on the TOWS matrix to determine the strategic relationships among the components
Determine your strategic priorities given the options you identified on the analysis you conducted
By the end of this guided project, you will be able to use the TOWS matrix to analyze and determine your optimum strategy. The TOWS Matrix is an acronym for Threats, Opportunities, Weaknesses, and Strengths. The elements of the SWOT Analysis provide the basics for the TOWS Matrix. But TOWS rearranges the information, and provides a framework to identify possible strategic options to pursue. TOWS analysis matches internal to external factors to help identify relevant strategic options. By combining the external environment’s opportunities and threats with the internal organization’s strengths and weaknesses, you can come up with four basic strategies. And the strategies are centered on exploiting opportunities, minimizing threats, overcoming weaknesses and capitalizing on strengths For us to practically demonstrate how the model works, we will use a spreadsheet to analyze an energy services company. Examples from the case study would empower you to use the model to analyze your company or any other company of your choice. The TOWS Matrix is a decision-making process for developing strategic alternatives. Both startups and large enterprises can use TOWS analysis approach as a primary strategic planning tool. At the end of the project, you will be able to use the matrix to brainstorm possible strategic options, determine your strategic roadmap, and identify your competitive advantage
Management Consulting
Marketing
Strategic Planning
Entrepreneurship
Leadership
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Task 1: Introduction: By the end of this task, you will explain the TOWS matrix
Task 2: Internal Factors: By the end of this task, you will identify your strengths and weaknesses
Task 3: External Factors: By the end of this task, you will determine your opportunities and threats
Task 4 Maxi-Maxi Strategy: By the end of this task, you will match your strengths to opportunities
Task 5: Maxi-Mini Strategy: By the end of this task, you will link your strengths to threats
Task 6: Mini-Maxi Strategy: By the end of this task, you will match your weakness to opportunities
Task 7: Mini-Mini Strategy: By the end of this task, you will link your weaknesses to threats
Task 8: Strategic options: By the end of this task, you will determine your strategic direction
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In a split-screen video, your instructor guides you step-by-step
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