Looking for an explanation of TOWS analysis? You’re at the right place! This article will teach you what it is and how to perform it. You’ll also find a TOWS analysis example of Apple.
🔝 Top-5 TOWS Analysis Examples
- Louis Vuitton Company's Strategic Management Policies
- Louis Vuitton: Managing Corporate and Business Strategy
- Ritz-Carlton, Dubai International Financial Centre
- Amazon.com Inc.'s Business Management
- Lenovo Strategy Evaluation [SWOT & PEST Analysis]
🤔 What Is TOWS Analysis?
The TOWS method is a more detailed version of the SWOT analysis. Like its counterpart, it looks at the threats, opportunities, weaknesses, and strengths facing the company. This matrix goes further and draws connections between internal and external factors. The method can be applied in companies of all sizes and industries.
What Is the Difference between SWOT and TOWS Analyses?
Many consider the TOWS method as a branch of SWOT. Despite the surface similarities between them, these analyses have different applications. The SWOT tool overviews the company’s current state and helps make strategic management plans. It identifies the entity’s strengths, weaknesses, opportunities, and threats.
TOWS analysis follows the initial steps of SWOT analysis. But the method gives an in-depth look at the connection between these elements. It shows how a company can use its strengths and weaknesses to seize opportunities and address threats. In other words, it’s a strategic planning tool that helps ease the work on the next business plan.
🆚 SWOT Vs. TOWS Comparison Chart
Let’s compare the elements of SWOT and TOWS analyses side by side to see their differences.
|SWOT Analysis||TOWS Analysis|
|Strengths: They help an organization get the upper hand in the competition.||Strengths-Opportunities. This strategy helps use the company’s strengths to maximize its opportunities.|
|Weaknesses: These are issues that keep companies from reaching their full potential.||Weaknesses-Opportunities. With this approach, a company can plan to address its issues and capitalize on new ventures.|
|Opportunities: Starting a new product line or launching a service can open new horizons.||Strengths-Threats. Under this method, businesses use their strengths in dealing with threats.|
|Threats: These factors include high competition, new regulations, or increasing production costs.||Weaknesses-Threats. Business owners can develop ideas that minimize a firm’s drawbacks and eliminate threats.|
✅ Tips on How to Do a TOWS Analysis
There are several tips that make conducting a TOWS analysis easier.
Step 1: Conduct a SWOT Analysis
The first step of a TOWS matrix involves performing a SWOT analysis. It gives one the necessary background for later work. Carefully go through each SWOT element to better prepare for the next step.
Step 2: Run the Findings Through the TOWS Matrix
Copy the main conclusions from the SWOT matrix and add them to the TOWS worksheet. Later on, we’ll provide an example of its structure.
Step 3: Link and Assess Your Strategic Options
Next, one should consider how best to use the combinations of internal and external factors.
- Strengths and Opportunities: Determine how a company can use its competencies to gain the most from emerging opportunities.
- Strengths and Threats: Establish how strengths may help avoid potential and existing threats.
- Weaknesses and Opportunities: Find out which opportunities can be used to deal with current shortcomings.
- Weaknesses and Threats: Consider how a business can improve its weak areas and deal with threats.
These strategic alternatives are then added to the appropriate places on the digital TOWS matrix.
📝 Useful TOWS Analysis Example
We’ve prepared a TOWS analysis example of Apple.
Unlike its counterpart, TOWS offers a more detailed picture of a company’s future. The method isn’t too complicated but may offer many new strategies for businesses to explore. Anyone, from a small business to a giant corporation, can use it to build a better future.
🏆 Best TOWS Analysis Research Titles
- Intercontinental Continental Hotel AnalysisBusiness essay sample: The size of the company increased by 5% because of the addition of 9,849 rooms, which comprises 117 hotels, resulting in the general size of 629,700 rooms, that is 4,303 hotels.
- DHL & FedEx: Comparison and AnalysisBusiness essay sample: This paper would compare and analyze the two large companies DHL and FedEx to recommend the prospect of these organizations, evaluate the TOWS Matrix of DHL and FedEx.
- How E-Business Is Helping Enterprises CompeteBusiness essay sample: The paper analyzes two organisations that adopted e-business strategies. The first is an SME, Vitalograph. The second company is a large enterprise, General Electric.
- Enterprise 'Rent-A-Car' and Its Business StrategiesBusiness essay sample: Enterprise Rent-A-Car is the largest car rental company in North America. It has over the years focused its operations on off the airport car leasing services.
- Apple's Music Streaming Service Future StrategiesBusiness essay sample: This paper examines the internal and external strengths and weaknesses of the organisation and discusses strategies to help advance the company’s competitive advantage.
- Wakame Restaurant Case: Key Business PointsBusiness essay sample: Wakame is one of the most successful fine dining restaurants in downtown Dubai. It specializes in modern Asian cuisine and prides itself in its simple but adventurous dishes.
- Phantom and Wakame: Companies AnalysisBusiness essay sample: Phantom is a consultancy firm that could help Wakame in regard to management optimization and marketing changes.
- Project Management for Department of Veterans AffairsBusiness essay sample: The project management framework based on the promotion of awareness and the introduction of change into the current hospital setting is advised.
- Netflix: Strategy ReportBusiness essay sample: Customers’ experiences with the new platform and particular sellers will support mid-term evaluations and improve Netflix’s seller selection practices.
- Airbnb Strategic AnalysisBusiness essay sample: Airbnb is an international marketplace specializing in hospitality by offering arrangements for temporary and short-term lodging in cities around the world.
- Netflix Inc.'s Business Strategy and Strategic AnalysisBusiness essay sample: The competitive pricing of Netflix services allows the company's subscribers to watch unlimited content for an affordable price.
- Netflix Company's Performance and Strategic AuditBusiness essay sample: Netflix is an example of excellent strategic management. The company's executives recognized the peak of demand for one service and introduced an alternative to retain customers.
- CD Projekt S.A.: Business ReportBusiness essay sample: CD Projekt S.A (CDR as noted in a stock market exchange abbreviation) is a Polish company that operates in the video game development industry.
- TOWS Analysis Strategies for AMDBusiness essay sample: The company AMD has a broad product portfolio and strong research and development wing which would enable the company to meet the growing demand for PCs in the world.
- Strategic Management Etihad AirwaysBusiness essay sample: This report will provide an industry analysis and discusses strategic management up-to-date and going forward for Etihad Airways.
- Monsoon PLC Analytical ReportBusiness essay sample: The review consists of a marketing communications audit, strategy and plan, and other relevant advertising and marketing strategies.
- JUMBO Seafood: Environment Analysis and Business Level StrategyBusiness essay sample: This report will address JUMBO Seafood’s competitors, customers, and collaborators, SWOT, VRIN, and value chain analysis, and establish a new takeout and delivery service.
- Tim Hortons Inc.: Strategic AnalysisBusiness essay sample: Tim Hortons Inc.’s vision articulates what the company hopes to become in the future while helping direct its strategies such as expansion into the global presence.
- MTN Ghana Company's Analysis and Future StrategiesBusiness essay sample: MTN Ghana is a successful business that has been operating in Ghana since 2008. It benefits from MTN’s best corporate practices and has a stable position in the market.
- Apple Company's Business EvaluationBusiness essay sample: This report recommends a re-evaluation of Apple’s priorities and potential realignment to bring it in line with market needs while still retaining its strengths.
- Wirksworth Heritage Centre's Digital MarketingBusiness essay sample: The report will evaluate the background of digital communication audit, the history of Wirksworth Heritage, and museums within the United Kingdom.
- GEA Company’s Main Business IssuesBusiness essay sample: A major challenge to the GEA company’s business is that many companies are now considering shifting from using fossil fuels to cleaner energy sources such as solar energy.
- Amazon Company's Resources and CompetenciesBusiness essay sample: The external analysis incorporates the Five Forces developed by Porter as well as the Political, Environmental, Socio-cultural, Technological, Economic, Legal framework.
- Innovation Bridges–C. Me Smart Designs Ltd’s Marketing ChallengesBusiness essay sample: This case study is comprehensive marketing research of the company “Innovation Bridges–C. Me Smart Designs Ltd,” studying its status and prospects in the modern Britain market.
- AT&T TOWS Analysis: The Network of the FutureBusiness essay sample: Based on PESTEL and SWOT analyses, it is possible to conclude that the most significant issues of AT&T are emphasis on the US and its highly competitive environment.
- Forever 21 Company’s Turnaround Strategy ReportBusiness essay sample: This paper provides an overall strategy that will help turnaround Forever 21’s current condition and continue as a going concern company.
- The Next Closet Expanding Service to South KoreaBusiness essay sample: Regarding the fact that the company The Next Closet is considering expanding its services to South Korea, it is important to look at the country's interest rates.