BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -It was invented by an American business professor called Heinz Weirich in 1982 to examine businesses from a practical approach in reference to administration and marketing. The evaluation is done by amalgamating the external opportunities and threats with a company’s internal strengths and weaknesses.

Detailed explanation-2: -TOWS matrix can be defined as a framework to create, compare, decide and access business strategies. It stands for Threats, Opportunities, Weaknesses and Strengths. It examines a business from an approach that references marketing and administration.

Detailed explanation-3: -While SWOT analysis, puts the emphasis on the internal environment (your strengths and weaknesses), TOWS forces you to look at your external environment first (your threats and opportunities). Doing this allows you to gain a better understanding of the strategic choices that you face.

Detailed explanation-4: -The SWOT/TOWS (threats, opportunities, weaknesses, strengths) model helps groups develop a prioritized set of strategies and next actions to leverage their strengths and opportunities, and minimize weaknesses and threats. This is a collaborative, reusable model that can be used in strategy development.

Detailed explanation-5: -Who invented TOWS? TOWS was published in a paper called The TOWS Matrix A Tool for Situational Analysis by Heinz Weirich in 1982.