SWOT and TOWS Analysis Overview and Videos

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A SWOT analysis is a structured method used to evaluate the company's strengths, weaknesses, opportunities and t hreats.

You can find a published SWOT Analysis for your company in the EBSCO Company Profile.

This process involves identifying the internal and external factors that are favorable and unfavorable. The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit.

• Strengths: characteristics of the business or project that give it an advantage over competitors.
• Weaknesses: characteristics that place the business or project at a disadvantage relative to others
• Opportunities: elements in the external environment that the firm can exploit
• Threats: elements in the external environment that could cause trouble for the business or project

The SWOT is a building block of your strategic direction.

1. After completing a SWOT analysis, you will engage in a matching and converting process using a TOWS Matrix. Matching strengths to opportunities to leverage competitive advantages.

2. Develop conversion strategies to convert or mitigate weaknesses or threats by developing new markets, diversifying or developing new products. Generate a TOWS Matrix for your project using this format:

http://www.mindtools.com/pages/article/worksheets/TOWSAnalysisWorksheet.pdf

Watch this video:

http://youtu.be/mH1EljfXp-0

Another good video:

http://www.youtube.com/watch?v=S2GZOsemVNk&feature=share&list=LP5ApG5KGUmPs

Here's an excellent resource:

http://globaledge.msu.edu/industries/food-and-beverage

When you have gathered all of your data, you can complete your Team SWOT Analysis and start your TOWS Matrix.

Use these templates:

1. This worksheet will help you visually organize information about the external environment:

http://www.mindtools.com/pages/article/worksheets/PESTAnalysisWorksheet.pdf

2. Bring this Mindtools Worksheet to class so you can fill out the template with your teammates.

After completing a SWOT analysis for homework, you will engage in a matching and converting process using a TOWS Matrix. Matching strengths to opportunities to leverage competitive advantages. Develop conversion strategies to convert or mitigate weaknesses or threats by finding new markets, diversifying or developing new products. Generate a TOWS Matrix for your project using this format:

http://www.mindtools.com/pages/article/worksheets/TOWSAnalysisWorksheet.pdf

3. Generate a Porter's Model Worksheet:

http://www.mindtools.com/pages/article/worksheets/PortersFiveForcesWorksheet.pdf

Here's a Rudyard Kipling Quote to think about:

"I keep six honest serving , they taught me all I knew. Their names were What, Why, When, How , Where and Who."

Figure 10: SWOT-Analysis of the organic business idea. Belongs to The Organic Business Guide. (Photo credit: Wikipedia)