Elements of SWOT analysis – TOWS Matrix:
Threats Opportunities Weaknesses Strengths (TOWS Matrix – Henley’s recommended SWOT Matrix)
Principle:
Structured planning method that evaluates those four elements of a project or business venture
- Strengths: characteristics of the business or project that give it an advantage over others
- Weaknesses: characteristics that place the business or project at a disadvantage relative to others
- Opportunities: elements that the business or project could exploit to its advantage
- Threats: elements in the environment that could cause trouble for the business or project
Issues:
ask and answer questions that generate meaningful information for each category (strengths, weaknesses, opportunities, and threats) to make the analysis useful and find competitive advantage
Applications:
Identifying the internal and external factors that are favorable and unfavorable to achieve that objective
Source of SWOT analysis – TOWS Matrix:
Henley Business School