How to make a tows matrix

Capella University Tows Matrix Analysis And Strategic Plan Discussion
Subject
Health Medical

Department
MHA

Question Description

Overview
Prepare a TOWS matrix (1–2 page grid) that summarizes a health care organization's threats, opportunities, weaknesses, and strengths. Then, write a 4–5 page analysis highlighting key findings from the TOWS matrix. Finally, create a 1–2 page draft strategic plan that describes four strategies for the organization to pursue, based on your findings from the first two assessments.

Note: Each assessment in this course builds upon the work you have completed in previous assessments. Therefore, you must complete the assessments in the order in which they are presented.

An essential element in evaluating a health care organization's overall strategy entails examining the company's resources and competitive capabilities. Are they sufficient to allow the organization to pursue the best market opportunities, while minimizing external threats?
The most widely used tool in conducting this evaluation is a TOWS matrix. A well-executed TOWS analysis provides the basis for crafting the organization's strategic plan. A key difference needs to be addressed here. SWOT (strengths, weaknesses, opportunities, and threats) analysis has been a popular way to display pertinent external issues and internal strengths and weaknesses. This type of analysis involves listing the organization's strengths and weaknesses and perceived external opportunities and threats. SWOT, however, does not provide much insight into what strategy decisions might result from the list of strengths and weaknesses and opportunities and threats. As a result, the TOWS matrix (threats, opportunities, weaknesses, and strengths) was developed to provide a better way to develop and evaluate specific adaptive strategic alternatives.