Question

Strategic management and business policies (Panera Bread Company (2010): Still Rising Fortunes) Develop a complete strategic audit report that contains the following components 7. TOWS Matrix

8. Implementation and Evaluation

Answer 1

Strategic management and business policies

TOWS Matrix

A TOWS analysis is a variant of a SWOT analysis and is an acronym for Threats, Opportunities, Weaknesses and Strengths.

Similar to a SWOT, a TOWS analysis will involve the identification of an organisation’s strengths, weaknesses, opportunities and threats; however, often a key criticism of a SWOT analysis is that it doesn’t show the relationships between the different factors and categories. For example, a specific threat might make a weakness far more significant. Whereas a TOWS analysis will look to match internal factors to external factors to assist identify relevant strategic options that an organisation could pursue. It can help an organisation to ascertain how it can cash in of opportunities, reduce threats, overcome weaknesses and exploit any strengths

A TOWS may be a commonly used strategic planning tool and may add real value to an organisation, helping to require strategic planning one step further. Below is an example TOWS matrix.

By analyzing the external environment (threats and opportunities), and your internal environment (weaknesses and strengths), you'll use these techniques to believe the strategy of your whole organization, a department or a team. You can also use them to believe a process, a marketing campaign, or maybe your own skills and knowledge .

VRIO Framework, Weaknesses

SWOT Analysis (also referred to as SWOT Matrix) may be a business framework that helps assessing a good sort of factors which will have a profound impact on a business’s performance. These factors may either be internal to a corporation or external. Furthermore, these factors may either be favourable/helpful or unfavourable/harmful to a company. By combining these two dimensions one can draw a 2×2-matrix consisting of 4 quadrants: Strengths, Weaknesses, Opportunities and Threats. This article will cover each of those four quadrants of the SWOT analysis and can assist you choosing the proper tools to assess the foremost important factors which will affect your business.

The goal of the method so far has been to explore and embrace the unique character of your community. Regardless of which strategy you implement once you have completed your action plan, this guide assumes that it will be the first of many projects. A thorough evaluation of the action plan increases the likelihood that the plan (and the evaluation results) will influence future decision-making. This section highlights some helpful objectives to guide you through your evaluation process.