The TOWS matrix is an evolved form of SWOT analysis, designed to generate strategic options from an analysis of internal strengths and weaknesses, alongside external opportunities and threats.
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SWOT analysis is used across industries to measure Strengths, Weaknesses, Opportunities and Threats of a business venture. Although it’s mainly used to assess business ventures, it can also be easily used to measure almost anything that is influenced by external and internal factors.
Having an idea is just the start. The real work is around bringing that idea to life and creating a viable product that is ready to be brought to market.