Strategy project: Individual SWOT and strategy generation paper
SWOT to TOWS assigned readings
Assignment Overview: This week, each individual will use the group's SWOT matrix to generate strategies for overcoming business risks and exploiting business opportunity in the recommended country. You have already developed a competitor strategy, so the focus this week is on other business risks and opportunities and how your client might use its strengths and weaknesses to gain strategic advantage (corresponds to Section 8iii of Business Plan Template).
When the SWOT matrix is used for strategy generation, a TOWs matrix is initially generated to organize the SWOT data into an expanded matrix (TOWs matrix) . The TOWs is an organizing tool to ensure that the strategies developed will effectively utilize the client's strengths to mitigate the most critical risks and exploit the most important opportunities.
The TOWS matrix is merely an expanded SWOT matrix with quadrants to be used for strategy idea generation,
You can see an example of strategy formulation from TOWS individual SWOT-TOWS Strategy is here and posted in the module ‘Grading Guidelines and Rubrics.'
Assignment Objectives: The objectives are to use the SWOT data to propose specific business strategies (TOWS strategies) that will (1) mitigate the identified risks (threats and weaknesses) for your client company's entry into the selected country; and (2) exploit the identified external opportunities.
Step One: Preparation: This is your idea generation step and reflects your primary analysis. Develop the TOWS matrix, specifying the risk mitigating strategies and the opportunity exploiting strategies needed in each of the TOWS quadrants.
For example, if your previous analysis identified political ties as necessary to compete in this country (external Threat), but your client does not have those ties (internal Weakness), consider WT mitigation strategies (TOWS quadrant WT). Perhaps a specific type of partner (politically connected/experienced) or some specific activity (like political lobbying) might mitigate this risk for your client.
Similarly, for the primary external opportunity support factors for this country, specify a strategy that might leverage your firm's Strengths (quadrant OS strategies). For example, if your PESTEL analysis found an opportunity support factor in the country's positive attitudes toward U.S. companies, consider how an OS strategy might leverage the U.S. identity of your firm (its Strength) in order to exploit that opportunity (e.g., perhaps by sponsoring an athletic event and/or by using product packaging that highlights U.S. origins or culture)
For each of the TOWS quadrants, identify potential strategies that will help your firm to operate successfully in this external environment of specific O's and T's. Limit the potential strategies to no more than 3 in each quadrant of the TOWS matrix, focusing on the most important threats to be mitigated and opportunity factors to be realized. This summary matrix should be included as an appendix to the formal paper.
Step Two: Write a formal paper explaining your strategy recommendations and referring to the TOWS data on which those recommendations are based.
Paper Assignment Requirements/format:
1. Introduction. After the statement of purpose, the Introduction to this paper should be the same as in your team's week 6 paper (updated with any feedback), PLUS a very brief description of the target Buyer and the size and growth of the target market (from your team's week 6 paper).
2. The Body of the paper (10-12 pages) is solely your own writing:
- List those external Opportunity and Threat factors that you consider the most important and therefore will address with recommended strategies.
- Recommend your strategies, explaining the rationale for each and why you consider the recommended strategies the most critical/important.
o The TOWs matrix should be in an appendix, and you can refer to it, but your text should stand alone with sufficient written explanation for your strategy ideas and recommendations.
o Propose mitigating strategies for country and industry Threats;
o Propose exploiting strategies for Opportunity and Opportunity Support factors.
- Write a Conclusion to your analysis that summarizes all the strategic actions you are recommending to mitigate risk and exploit opportunity, including the competitor strategy previously agreed upon by the group (this summary statement of competitive strategy will be the same for all group members, taken from what the group has already developed).
3. Include :
- Title page with your name
- Approximately a 2 page Executive Summary that summarizes the entire paper (including the introduction materials)
- Table of contents
- *The body of the paper should have page numbers, starting with page one.
- Reference list, including proper APA format for all in-text citations.
- The SWOT/Tows matrix as an appendix.
Note: Attached the SWOT Matrix and the strategy paper for Tesla and its entry successfully into INDIA.