The TOWS matrix (Threats, Opportunities, Weaknesses, Strengths) is a superstructure of the SWOT model and can be used to find the company's strategic development opportunities. The superstructure consists in the TOWS matrix combining the factors of the SWOT model in a new and more structured way in order to identify strategic initiatives and areas of action that the company can act on.
Start by filling in the fields that originate from The SWOT model. Combine strengths with opportunities, weaknesses with opportunities, etc., so that a number of strategic opportunities for the company are thereby identified. The elements of the SWOT analysis lay the framework around the TOWS matrix. The results arrived at through the SWOT analysis are inserted into the matrix (marked in red in the example below). The TOWS analysis itself consists of 4 fields.
Maxi – maxi(SO): Maximize strengths and maximize opportunities. How can the company use its strengths to take advantage of the opportunities? How do we pursue the opportunity that fits our strengths?
Maxi – mini (ST): Maximize strengths and minimize threats. This strategy is based on exploiting the strengths of the company that can handle threats in the outside world. How can the company leverage its strengths to avoid threats? How do we use our strengths to counter the threats?
Mini-maxi (WO): Minimize weaknesses and maximize opportunities. The strategy is to minimize the company's weaknesses while maximizing the opportunities. How can the company use its opportunities to minimize or overcome weaknesses? Can we overcome our weaknesses by taking advantage of opportunities?
Mini – mini (WT): Minimize weaknesses and minimize threats. This field is every company's nightmare. The company has some weaknesses at the same time that it is confronted with threats. The company's existence may be threatened. How can the company minimize weaknesses and avoid threats? How can we ensure that our weaknesses do not make us further susceptible to threats?
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