Strengths And Weaknesses Of TOWS Matrix

SWOT analysis is a systematic thinking and strategic management tool that helps managers to assess the strengths, weaknesses, opportunities, and threats in their organizations, with the aim of identifying areas that need improvements (Blayney, 2013). Knowledge gained from SWOT analysis informs resource allocation and deployment, hiring needs and other strategies for improving overall efficiency. At the same time, SWOT analysis helps an organization to gauge its market position compared to competitors, and what it needs to do to achieve a competitive edge. Marketing campaign is one of the major challenges in promoting a certain product. It is crucial to assess every detail of the marketing plan in order for the business to

The decision making process includes cognitive processes that eventually lead to a choice in action while taking into consideration the alternative possibilities (Allen, Dorozenko, & Roberts, 2016). Not all choices have to lead to an action. The values and preferences of the person making the choice also comes into play when making the final decision. Problem-solving to obtain a certain goal or satisfactory by a solution is the main reason people go through the decision making process (Stefaniak, & Tracey, 2014). This process has many factors that end with one final result or solution. The decisions made can be rational or irrational and can be determined by explicit or tacit knowledge (Qingyao, Dongyu, & Weihua, 2016). Since the decision making process can be very difficult at time, psychologists have viewed the process in different perspectives to get a better understanding (Rossi, Picchi, Di Stefano, Marongiu, & Scarsini, 2015). The different perspectives include; psychological, cognitive, and normative or communicative rationality.

Marketing plan is always based on information regarding product, customers, market and competitors. The best way to analyze all this information is through a SWOT analysis. SWOT stand for strengths, weaknesses, opportunities and threats. This analysis takes into account both internal and external factors, internals being strengths and weakness, and external being opportunities and threats (Kotler & Keller, 2009).

Strategic planning requires all levels of an organization, from the head of the company to the most junior member, to think about where the organization is today and how they can influence the organization to move forward in a “positive” manner to attain its goals (profit, growth, downsizing, etc.). One method used in strategic planning is for an organization to conduct a “Strengths, Weakness, Opportunities, and Threats” (SWOT) analysis. Just as the name implies, a SWOT analysis looks at the four dimensions that can affect an organization. One business that can benefit from a SWOT analysis is Lennar Home Builders, Inc. This assignment will focus on one of the largest national offices for this company, located in Miami, FL. First, the paper will describe the history, products, and major competitors of one of the largest home builders in the country. Next, the focus shifts to create a SWTO analysis detailing the strengths, weaknesses, opportunities, and threats that may affect the organization. The assignment begins with a brief discussion on Lennar Homes, one of the most successful home builders in Florida and the United States.

“A SWOT Analysis is the most used tool for audit and analysis of the overall strategic position of the business and its environment. Its principal purpose is to identify the strategies that will create a firm-specific business model. The plan aligns the organization’s resources and capabilities to the requirements of the environment in which the firm operates. The analysis is to evaluate any potential and limitations and the probable/likely opportunities and threats from the external environment. The results provide the positive and negative factors inside and outside the firm that affect the success.” A SWOT analysis is conducted to determine the strengths, weaknesses, opportunities, and potential threats to the organization. ("SWOT

The following SWOT analysis encompasses the strengths and weaknesses to which the logistic and strategic components of the marketing plan will be tailored to address from the internal business

An internal assessment analysis named SWOT, which stands for a company 's strengths, weaknesses, opportunities, and threats is conducted (Abraham, 2012). Strengths and weaknesses are the internal aspects of the normal SWOT analysis (Abraham, 2012). They include problems that need to be corrected, deficiencies recognized through a comparison with competitors, or deficiencies relative to recognized strategies such as lacking the resources to grow (Abraham, 2012). An opportunity is a product-market issue (Abraham, 2012). It must include a product or service that is actually offered, to include the existing ones, and a defined customer group at which that product or service is targeted, including the existing ones (Abraham, 2012). Threats are external trends that could have a negative effect on the company (Abraham, 2012).

A SWOT analysis is a distinguished instrument for examination of a company’s strategic situation and environment. Its objective is to recognize the schemes that will best support a business’ assets and competencies to the desires of the market. It is the basis for assessing the core abilities and restrictions and the prospects and dangers from the external environment. SWOT stands for: strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are deemed internal influences where there is some level of control; while opportunities and threats are deemed external influences where there is essentially no control.

A SWOT analysis assesses the company’s strengths, weaknesses, opportunities and threats to provide competitive observation into the potential and basic issues that affect the overall success of a company. Furthermore, the essential objective of a SWOT analysis is to analyze and designate every important aspect that could positively or negatively affect the success to one of the four classifications that provides an extensive examination of the company. If properly utilized, the tool can be used to develop business strategies, identify improvement opportunities, and position the company so that is can have a competitive advantage. Strengths are positive internal attributes that are within the company’s control. It is used to help identify what the company’s current status is and how successful can be if it maintain the status. Weakness is another category that is analyzed internally and externally, by analyzing internally, management goal is to identify areas that can be improved. Through this tool, it will identify what is preventing the company from achieving competitive advantage, could it be limited resources, poor physical location, limited expertise or old or limited skills and technology systems? Opportunity identifies areas within the organization that can be expanded, it

SWOT analysis allows for the creation of a plan of actions that is necessary for using a company’s strengths and for minimizing the effect of its weaknesses in order to increase the company’s opportunities and lower the risk of threats (Kolbina, 2015). Further, the SWOT analysis determines what assists the firm in accomplishing its objectives, and which problems need to be minimized to achieve the desired results. For instance, where the organization is currently at, and where it may need to be in the future.

6.2 Examine the unexploited strengths, explicit weakness of the marketing mix in relation to product lines, influence of threats and find opportunities to better the marketing mix, using the SWOT analysis. 6.3 Recognize the value and impact of the problem, through the examination of trends in

Businesses in the same industry compete against each other to meet their organization goals and sustain competitive advantage over one another. But to meet those goals, it’s important for businesses to analyze their internal and external environment to allow them to come up with new business strategies beneficial to the business. Firms can use SWOT as a starting point. SWOT is a basic technique that can be used by business owners to analyze their business and industry condition (Dess, G., Lumpkin G.T., Eisner, A., McNamara, G, 2013). Using SWOT will help business owners understand the strengths, weaknesses, opportunities and threats of their business. It would help them analyze and come up

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

The difficulties that were accompanied with this approach led to deviation from the rational model. Complexity of modern organizations and the limited cognitive ability of decision makers were most influencing factors in the deviation . The decision makers were unable to operate under perfect rationality conditions. The information about a decision was mostly unavailable or unclear, and open to different interpretations. Also, the criteria of evaluating alternative solutions were not agreed upon. It also required very long time and a lot of energy of the decision makers to pursue a maximizing outcome. These constrains led to a conclusion that the absolute rational model is unreachable.

1. What forces from the natural physical environmental are currently affecting the corporation and the industries in which it competes? Which present current or future threats? Opportunities?