![]() ![]() While SWOT analysis focuses on internal strengths and weaknesses, the TOWS Matrix places an emphasis on external threats and opportunities, such as political, social and economic factors, to help foster a better understanding of the company's position within a global business environment. One example is a TOWS Matrix - Threats, Opportunities, Weaknesses and Strengths - a variation of SWOT analysis. Variations of these matrixes can help companies analyze internal weaknesses and strengths while examining external pressures and market performance. Business unit profitability, employee performance, and company financial performance are just a few examples of the factors that go into SWOT analysis. Analysis includes identifying strengths and weaknesses, while determining how best to capitalize on opportunities and to limit threats. CompetitivenessĪnother common matrix called SWOT - an acronym for Strengths, Weaknesses, Opportunities and Threats - provides managers with a way to analyze internal factors to better position the company for growth within a competitive business environment. Some of the factors that help complete the matrix include business size, profitability and technological edge. ![]() ![]() The GE Matrix analyzes a business's strengths in relation to the industry. Specifically, the BCG Matrix allows companies to analyze each business unit, product or service to determine profitability and future potential in terms of market share and market growth. Two common matrixes include the Boston Consulting Group Matrix and the General Electric Matrix. Industry Analysisīusinesses can choose to use any of several industry matrixes for strategic planning. This information can help a company determine how to improve its position within the industry, and can help management embark upon a path to help meet those expectations. Industry matrixes allow companies to analyze how a wide range of inputs, including both internal and external factors, impact the business, its employees, and the industry as a whole. Matrixes represent one of the various tools businesses use in the course of strategic planning. ![]()
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