What is a SWOT Analysis? Show
A SWOT analysis is a strategic planning tool that involves listing a company's strengths, weaknesses, opportunities and threats, or SWOT. Strengths are things a business does well or advantages it has, such as dedicated workers, an innovative product design or a good retail location, while weakness are things a business does poorly or disadvantages it has. Threats or external factors that might harm the business, such as competitors and unfavourable government regulations, while opportunities are external factors that the company might benefit the company, including untapped markets or favourable regulations. After creating a list of strengths, weaknesses, opportunities and threats, managers think of ways the business can maximise strengths and use them to reduce weaknesses; take advantage of opportunities; and avoid or minimise threats What is a TOWS Analysis? A TOWS analysis involves the same basic process of listing strengths, weaknesses, opportunities and threats as a SWOT analysis, but with a TOWS analysis, threats and opportunities are examined first and weaknesses and strengths are examined last. After creating a list of threats, opportunistic, weaknesses and strengths, managers examine ways the company can take advantage of opportunities and minimise threats by exploiting strengths and overcoming weaknesses. SWOT vs. TOWS SWOT and TOWS analysis involve the same basic steps and likely produce similar results. The order in which managers think about strengths, weaknesses, threats and opportunities may, however, have an impact on the direction of the analysis. Michael Watkins of the "Harvard Business Review" says that focusing on threats and opportunities first helps lead to productive discussions about what is going on in the external environment rather than getting bogged down in abstract discussions about what a company is good at or bad at.WHAT TYPE OF STRATEGIES ARE THE PART OF TOWS MATRIX?The SWOT Matrix is an important matching tool that helps managers develops four types of strategies:
Thanks to by Gregory Hamel , http://smallbusiness.chron.com/difference-between-swot-tows-analysis-23169.html Re-write by Yasser Zannoun Recommended textbook solutionsHuman Resource Management15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine 249 solutions
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Which strategies are defensive tactics *?There are three strategies considered as essential elements of defensive strategy:. Retrenchment.. Divestiture.. Liquidation.. Which defensive techniques are aimed at decreasing internal weaknesses and avoiding external threats?The WT strategies of the SWOT Matrix: are defensive tactics directed at reducing internal weaknesses and avoiding external threats.
Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?WO Strategies aim at improving internal weaknesses by taking advantage of external opportunities. Sometimes key external opportunities exist, but an organization has internal weaknesses that prevent it from exploiting those opportunities.
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