The TOWS model starts with the threats (Tin TOWS) because in many situations a company undertakes strategic planning as a result of a perceived crisis, problem, or threat,
Four Alternative Strategies
Figure 5-2 presents the four alternative strategies of the TOWS Matrix. The strategies are based on the analysis of the external environment (threats and opportunities) and the internal environment (weaknesses and strengths):
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The WT strategy aims to minimize both weaknesses and threats and may be called the Mini—Mini (for “minimize—minimize”) strategy. It may require that the company, for example, form a joint venture, retrench, or even liquidate.
2. The WO strategy attempts to minimize the weaknesses and maximize the opportunities... displayed next 300 characters
If the objective is NOT attainable a different objective must be selected and the process repeated.
Creative Use of SWOTs: Generating Strategies
If, on the other hand, the objective seems attainable, the SWOTs are used as inputs to the creative generation of possible strategies, by asking and answering each of the following four questions, many times:
• How can we Use each Strength?
• How can we Improve each Weakness?
• How can we Exploit each Opportunity?
• How can we Mitigate each Threat?
Ideally a cross-functional team or a task force that represents a broad range of perspectives should carry out the SWOT analysis...
The need for the use of various internal tools (BCG Matrix, TOWS Analysis, Grand Strategy, Space Matrix) and external strategies that make use of the various forces as known through Porter's 5 Forces is something that each company will need to take into consideration as well...
Some technological factors include:
• R&D activity
• technology incentives
• rate of technological change
External Opportunities and Threats
The PEST factors combined with external microenvironmental factors can be classified as opportunities and threats in a SWOT analysis...
This tool was developed to aid companies in the measurement of all their company businesses according to relative market share and market growth. The BCG Matrix made a significant contribution to strategic management and continues to be an important strategic tool used by companies today...
Be sure to include the circled items
5) Select a company for which you decide to prepare a plan. (It need not be the nest company) and indicate why you selected the company
6) Develop a plan for the company (It could be a plan for the entire company or for some new venture to become more competitive)
a) Indicate the main objectives the company should follow;(ie Growth ?...
For example, a SWOT team may include an accountant, a salesperson, an executive manager, an engineer, and an ombudsman.
 Evidence on the Use of SWOT
SWOT analysis may limit the strategies considered in the evaluation...
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