TOWS Analysis Matrix
The TOWS Analysis Matrix is an indispensable tool for the building or maintenance of a company. The matrix works to detect the strengths and weaknesses of the company and use them to improve and protect the company's livelihood.
At a very high level, the TOWS Analysis Matrix is used in the context of business, project management, productivity.
What is the TOWS Analysis Matrix?
A visual explanation is shown in the image above. The TOWS Analysis Matrix can be described as a matrix with the following quadrants:
- External Opportunities; Internal Strengths: Contains actions that may benefit the company; these opportunities help illustrate the strengths of the company.
- External Opportunities; Internal Weaknesses: Contains actions that can help build up the company and make it stronger; these opportunities target the company's weaknesses and may help change them into strengths.
- External Threats; Internal Strengths: Contains actions that, by utilizing the company's strengths, work to fight outside threats.
- External Threats; Internal Weaknesses: Contains actions that could be considered to be defensive; these actions work to protect their weaknesses from outside threats.
What is the purpose of the TOWS Analysis Matrix?
Whether you are currently building a company or simply maintaining one, the TOWS Analysis Matrix can help prevent your business from suffering. TOWS requires the user to delve deeper into the core characteristics of a company, identifying its main strengths and weaknesses.
The company can use its strengths to seek out opportunities that may benefit it. By continually pursuing these opportunities, the company can grow its business and become even stronger. The company's strengths can also be used to protect it from outside threats, which will be discussed below.
Several threats to a company can exist; these can include the threat of another upcoming business, a change in the economy, or a change in customer preferences. One of the questions that the TOWS Analysis asks the user is this: 'In what aspects is the company vulnerable to these threats?' There are two things that can be done: the company can use their strengths to protect itself from the threats, or it can take defensive actions against these threats. Using the TOWS Analysis Matrix could save your company. Try it today!
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What templates are related to TOWS Analysis Matrix?
The following templates are categorized as business, project management, productivity and are therefore related to TOWS Analysis Matrix: Gap Analysis Matrix, Impact Matrix, Kraljic Matrix, Outsourcing Matrix, PICK Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.
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