Today, most of the businesses engage in strategic planning. The degree of formality and sophistication vary considerably. The TWOS Matrix serves as conceptual framework for future research about the combination of external as well as internal factors of the enterprise. This article on TOWS matrix will help you perform a thorough TOWS/SWOT Analysis.
Definition of TOWS Matrix
TOWS Matrix is a two-by-two cell matrix that helps companies determine strategic alternative by examining a variety of external opportunities and threats and compare them to the strengths and weaknesses of the company. Marketers can identify the threats and opportunities and measure them against the internal strengths and opportunities, using TOWS Matrix.
TOWS matrix is a variant of SWOT Analysis which is a classic business tool often used in devising marketing plans. One can use a variety of techniques on internal and external environment to think about the strategy as a whole organization. These techniques can also be used to think of the process and own skills or experiences.