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The traditional business school approach to situation analysis has long been to use SWOT analysis, where SWOT stands for "strengths, Weaknesses, opportunities and Threats. The first two, of course, are internal to the firm while the latter two are external. The typical SWOT approach has been to ask questions of the firm in S, W. O and Torder It is recommended that you reverse the SWOT approach and conduct a Tows analysis. This asks that you first consider the external elements threats and opportunities in order to develop the context within which to examine the internal elements (weaknesses, and strengths). TOWS analysis thus rests on the notion that a firm's strengths and weaknesses are only relevant within the context of the firm's environment This is best define as