Unlocking Strategic Potential: An In-Depth Analysis of Internal and External Factors for Your Chosen Organization

Introduction:

Every organization operates within a complex and dynamic business environment that is influenced by both internal and external factors. A thorough analysis of these factors is critical to an organization’s success. In this essay, I will perform a TOWS analysis on my chosen organization and identify strategic areas for improvement based on the analysis.

TOWS Analysis:

The TOWS analysis is a strategic tool used to identify the threats, opportunities, weaknesses, and strengths of an organization. By analyzing these factors, an organization can determine a strategic approach to achieve its goals and objectives.

Strengths: The strengths of my chosen organization are its strong brand image, diversified product portfolio, and a robust financial position. The company has established a loyal customer base and a strong reputation in the market, which gives it a competitive advantage.

Weaknesses: The organization’s weaknesses are its limited online presence, a high employee turnover rate, and lack of innovation. The company has failed to adapt to the changing market trends, which has resulted in a decline in its market share.

Opportunities: The opportunities for the organization are expanding its product portfolio, entering new markets, and leveraging technology to enhance its online presence. The company can also collaborate with other businesses to expand its customer base.

Threats: The threats facing the organization are intense competition, economic downturns, and changing consumer preferences. The company needs to keep up with the changing market trends to remain competitive.

Strategic Areas for Improvement:

Based on the TOWS analysis, the organization needs to focus on the following strategic areas for improvement:

1. Enhancing its online presence: The company needs to invest in its online platform to reach a broader customer base. By improving its website and online marketing strategies, the company can improve its brand visibility and reach new customers.
2. Employee retention: The high employee turnover rate is a significant concern for the organization. The company needs to develop an employee retention strategy that includes offering competitive salaries, providing opportunities for growth and development, and creating a positive work environment.
3. Innovation: The organization needs to focus on innovation to keep up with the changing market trends. By investing in research and development, the company can introduce new products and services to meet the evolving customer needs.

Prioritization of Strategic Areas:

The organization needs to prioritize the strategic areas based on how well they align with its mission and values. The first priority should be given to employee retention, as the company values its employees and their contributions. The second priority should be enhancing the online presence, as it aligns with the organization’s vision of reaching a broader customer base. Innovation should be the third priority, as it aligns with the company’s mission of providing high-quality products and services.

Conclusion:

In conclusion, the TOWS analysis has helped to identify the strengths, weaknesses, opportunities, and threats of the organization. Based on the analysis, the company needs to focus on enhancing its online presence, employee retention, and innovation. By prioritizing these strategic areas, the organization can achieve its goals and objectives while remaining true to its mission and values.