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The TOWS process
outlined in Module 1 is the place to begin gathering information
in preparation for a growth strategy. Generally, traditional planning
involves the opposite pattern, "SWOT". But growth should
begin with an examination of the external environment, since it
is often something in the external environment that stimulates the
growth plan.
A business undertakes
the TOWS analysis to find opportunities, which can be defined as
situations (windows of opportunity) that are attractive, durable,
timely and anchored in a product or service that creates or adds
value for its buyer or end user. Without this added value, there
is no opportunity, merely imitation. Opportunities invariably are
created by:
-
Changing Conditions
- Leads and
Lags
- Knowledge
Gaps
- Chaos and
Confusion
- Inconsistencies
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