SWOT & TOWS are Effective Tools for Strategic Formulation

Abstract

Amazon, Apple, Dell, Google, Microsoft are some of the topmost organizations in world which believe in carrying on SWOT Analysis. SWOT analysis puts the emphasis on the internal and external environment. Internal elements are strengths and weaknesses, and external elements are opportunities and threats. A TOWS analysis is a planning tool that examines a company's threats, opportunities, weaknesses, and strengths. Companies use this type of analysis to strategize for future challenges and initiatives.