Comparing SWOT and TOES Analysis

Aug 22, 2024

Differences Between SWOT Analysis and TOES Analysis

Overview

  • SWOT Analysis: A strategic planning tool to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
  • TOES Analysis: An extension of SWOT, it focuses on identifying potential threats and measuring the strength of internal factors within an organization.

Synonyms

  • SWOT Analysis: Also known as SWOT Matrix.
  • TOES Analysis: Also known as TOES Matrix.

Purpose

  • SWOT Analysis:
    • Identify factors impacting a company's functioning.
    • Offer information for strategic planning.
    • Aid in informed decision-making.
  • TOES Analysis:
    • Reduce threats.
    • Take advantage of opportunities.
    • Exploit strengths.
    • Remove weaknesses.

Usage

  • SWOT Analysis:
    • Used in preliminary stages of decision-making.
    • Useful for evaluating the strategic position of various organizations (profit enterprises, governments, NGOs, etc.).
  • TOES Analysis:
    • Helps prioritize actions and is a useful strategic management tool for companies or individuals.

Assessment Focus

  • SWOT Analysis:
    • Assesses internal factors (strengths and weaknesses) and external factors (opportunities and threats).
  • TOES Analysis:
    • Focuses on generating marketing strategies, decision-making, and awareness of potential shortcomings.

Practical Application

  • SWOT Analysis:
    • Helps to build on strengths, address weaknesses, seize openings, and minimize risks.
    • Assess an organization's position before new strategy decisions.
  • TOES Analysis:
    • Matches strengths with opportunities and threats with weaknesses.

Example

  • Bangkal Fowler Limited:
    • Showcases strengths, weaknesses, opportunities, and threats as quadrants in SWOT Analysis.
    • Utilizes strategies (WO, ST, and WT) in TOES Analysis.

Conclusion

  • Both analyses can be conducted separately using their respective matrices.
  • The format for both SWOT and TOES analysis is provided in the video title page.
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