Application of the TOWS Matrix
- First, you define the topic or subject you want to analyze. This can be an organizational unit, but also a product, service or process.
- After that, do a SWOT analysis .
- They then combine the results of two SWOT analysis fields. This results in 4 combinations that form a matrix. For each combination, there is a special question to consider:
- Strengths & Opportunities: How can you use your strengths to seize opportunities?
- Weaknesses & Opportunities: How can you address your weaknesses to take advantage of opportunities?
- Strengths & Threats: How can you use your strengths to defend against threats?
- Weaknesses & Threats: How can you eliminate vulnerabilities to counteract threats?
Description of the TOWS Matrix
The TOWS Matrix is based on the classic SWOT analysis. The results of the company’s strengths and weaknesses and the resulting opportunities and risks are compared in a matrix. Each combination of SWOT fields results in a specific strategic thrust for each matrix field:
- Strengths & Opportunities: Focus on maximum success
- Weaknesses & Opportunities: catching up on the competition
- Strengths & Threats: Defending Success
- Weaknesses & Threats: Securing existence
With the help of the TOWS matrix, the consequences of the analysis results come to the fore. In this respect, it is part of strategic management.
Who benefits from this method?
- Product manager