Class Central Tips
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
