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How to conduct an effective SWOT analysis with TOWS

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Essay Question - Use a SWOT analysis to identify your strengths and weaknesses. Then analyze the opportunities and threats in your career field which is a manager in a hospital laboratory.

Strengths- good communicator, honest, assertive, loyal, focused

Weaknesses - time management, giving positive reinforcement, always have to be in control of the conversation

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Solution Preview

A SWOT analysis is a four-phased approach to formulating new strategy for a business: STRENGTHS, WEAKNESSES, THREATS & OPPORTUNITES. You first characterize the strengths and weaknesses of the firm (it's internal core competencies and failings). Then you examine the external components: Threats and Opportunities. These are market ...

Solution Summary

As an essential component of needs assessment and market position for strategic planning purposes, SWOT and TOWS offer a simple yet effective way to categorize aspects of a firm's competitive advantage. TOWS (SWOT spelled backwards) is more involved than traditional SWOT, and therefore more useful. The solution defines the phases of SWOT/TOWS, explains how to conduct a proper analysis, and provides a graphical example and document template for publishing the results.

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