Decision-making can be a daunting process. But with the right tools, it doesn't have to be! ClickUp's TOWS Matrix Template is an effective technique for analyzing the internal and external factors of your organization to make data-driven decisions.
The TOWS Matrix Template helps you:
- Analyze Strengths and Weaknesses in relation to Opportunities and Threats
- Identify what’s most important for your team success
- Align teams around strategies that are tailored to your situation
Whether you’re launching a new product or expanding into a new market, this template will help you get it done right—and fast!
Benefits of a TOWS Matrix Template
A TOWS Matrix Template can be an invaluable tool for any organization. Using it can help you gain:
- A better understanding of the external environment, including threats and opportunities
- An organized approach to evaluating your strengths and weaknesses
- Clarity on which strategies are most likely to succeed
- Insight into how to build on strengths and minimize threats
Main Elements of a TOWS Matrix Template
ClickUp's TOWS Matrix Template is designed to help you brainstorm, analyze, and document strategies. This Whiteboard template includes:
- Custom Statuses: Create tasks with custom statuses such as Open and Complete to keep track of the progress of each strategy
- Custom Fields: Categorize and add attributes to manage your tasks and easily visualize the strategies
- Custom Views: Start with this Whiteboard template and build out your ClickUp workflow which includes List, Gantt, Workload, Calendar, and more
- Project Management: Improve strategy tracking with tagging, nested subtasks, multiple assignees, and priority labels
How to Use a TOWS Matrix Template
The TOWS Matrix is a great tool for exploring your company’s strengths, weaknesses, opportunities, and threats. Here are 6 steps to help you get the most out of it.
1. Identify the external environment
Start by conducting an external analysis of your company’s competitive landscape. This will help you better understand what factors are influencing your industry and how they could potentially affect your business.
Use Dashboards in ClickUp to track key external environment metrics such as competitors, customer trends, and industry regulations.
2. Brainstorm your SWOT
Using the information gathered in the external analysis, brainstorm your company’s Strengths, Weaknesses, Opportunities, and Threats (SWOT). This will help you identify the areas of your business that need improvement and the areas you should focus on for growth.
Use Whiteboards in ClickUp to brainstorm and visualize your company’s SWOT.
3. Create a TOWS Matrix
With your SWOT information in hand, create a TOWS Matrix by plotting it in a four-quadrant chart. This will allow you to evaluate the opportunities and threats and come up with strategies to capitalize on them.
Use the Table view in ClickUp to create your own customized TOWS Matrix.
4. Generate strategies
Using the TOWS Matrix, you can generate a list of strategies that you can use to take advantage of opportunities or mitigate threats. Consider strategies that leverage your strengths or address your weaknesses.
Set Goals in ClickUp to make sure you are working towards a specific strategy.
5. Assign tasks
Once you’ve identified the strategies you will pursue, break them down into smaller tasks and assign them to the appropriate team members. This will ensure that everyone has a clear understanding of their responsibilities and can take action quickly.
Create tasks in ClickUp and assign them to the appropriate team members.
6. Monitor and review
Finally, it’s important to monitor the strategies you’ve implemented and review their progress regularly. This will help you make sure that the strategies are still relevant and that you are on track to meet your goals.
Set a recurring task in ClickUp to review and adjust your strategies as needed.
Get Started with ClickUp's TOWS Matrix Template
Business strategists can use this TOWS Matrix Template to help everyone stay on the same page when it comes to identifying strengths, weaknesses, opportunities, and threats.
First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.
Next, invite relevant members or guests to your Workspace to start collaborating.
Now you can take advantage of the full potential of this template to analyze your business strategies:
- Create tasks for each component of the TOWS Matrix
- Organize tasks into two different statuses: Open and Complete, to keep track of progress
- Collaborate with stakeholders to brainstorm ideas and create strategies
- Update statuses as you progress through tasks to keep stakeholders informed of progress
- Monitor and analyze tasks to ensure maximum productivity