Mission statement is a description of what an organization actually does, what its business, and why it does it. It is a summary of the mission and values of a company, organization, or individual a mission statement to which all employees can subscribe
1. Customers: Who are the enterprise’s customers?
2. Products or services: What are the firm’s major products or services?
3. Markets: Where does the firm compete?
4. Technology: What is the firm’s basic technology?
5. Concern for survival, growth, and profitability: What is the firm’s commitment towards economic objectives?
6. Philosophy: What are the basic beliefs, core values, aspirations and philosophical priorities of the firm?
7. Self-concept: What are the firm’s major strengths and competitive advantages?
8. Concern for public image: What is the firm’s public image?
9. Concern for employees: What is the firm’s attitude/orientation towards employees?
The TOWS Matrix is derived from the SWOT Analysis model, which stands for the internal Strengths and Weaknesses of an organization and the external Opportunities and Threats that the business is confronted with. The acronym TOWS is a variant of this and was developed by the American international business professor Heinz Weirich.
The TOWS Matrix is aimed at developing strategic options from an external-internal analysis and is a practical tool, particularly in the fields of business administration and marketing. The other way around Whereas SWOT Analysis starts with an internal analysis, the TOWS Matrix starts the other way around, with an external environment analysis; the threats and opportunities are examined first.
