What is the Difference between SWOT and TOWS Analysis?

The difference between SWOT and TOWS analysis is that the former identifies internal and external factors. The latter expands upon this by interlinking the identified factors to assess the strategies available to companies. In other words, TOWS is used to align the strength and weaknesses of a company (internal factors) to the opportunities and threats … Read more

What is the Meaning of Industry Analysis (Definition, Example & Template)

industry analysis meaning

Industry analysis refers to the application of strategic management tools to a specific industry for determining the competitiveness and attractiveness of the industry. With this explanation, the importance of industry analysis in strategic management processes should be quite clear. The purpose of this is to answer one major business question: is this an attractive industry … Read more

How to Make Comparisons Across Multiple Industries

When you want to make comparisons across industries, the most common way is to make use of financial ratios for companies in the respective industries. However, this requires an assumption of similarity in business models or scale of operations. For a more generic comparison, it could be better to compare the market forces in each … Read more