SWOT analysis refers to the study that any organization undertakes to identify its internal and external strengths and weaknesses either we can more comprehensively say that its internal strengths and weaknesses and external opportunities and threats. So this matrix provides a detailed list of all of the weaknesses and strengths that make company weaken or strengthen and also external opportunities that company can avail and threats that can be overcome before they are at hand. Following matrix basically known as TOWS strategic alternative matrix.
In this matrix we examine that
- SO strategies: these are called Maxi-Maxi strategies and lets you maximize your opportunities by using strengths
- ST strategies: These are the Maxi-Mini strategies that lets you use your strengths to reduce threats
- WO strategies : These are the Mini-Maxi strategies that lets a company to minimize its weaknesses by using the available opportunities
- WT strategies : These are the strategies that lets the company to minimize the weaknesses and aver threats and know as Mini-Mini strategies
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