list for further analysis (Appendix J and Appendix K). The weightage and the ratings are considered appropriately while taking the relative importance of each of the factors potentially affecting the research findings. Table 12 and 13 indicate the revised SWOT matrix and analysis of both the SW (strength and weaknesses) and OT (opportunity and threats). Table 12. Internal Factor Analysis Summary (IFAS) Table of NALCO Table 13. External Factor Analysis Summary (EFAS) Table of NALCO From the internal and external factors summary analysis, it suggests that, the preparedness of NALCO is moderate to these factors and is between the 'average' and 'above average' level. Summing up, the internal strengths moderately adequate to take care of the weakness as well as threat perception in the current business environment. With …show more content…
4 FORMULATION OF STRATEGY FOR THE SELECTED COMPANY (NALCO) 4.1 Formulations of the strategic options According to Wheelen and Hunger (2012, pp. 182), the TOWS matrix illustrates how the external opportunities and threats facing a particular corporation can be matched with that company’s internal strengths and weaknesses to result in four sets of possible strategic alternatives. Weihrich (1982) developed TOWS as the next step of SWOT in developing alternative strategies. The authors Ravanavar and Charanthimath (2012), further reinforced that, TOWS matrix provides the means to develop strategies based on logical combinations of factors relate to internal strengths (or weaknesses) with factors related to external opportunities (or threats). TOWS matrix identifies four conceptually distinct strategic groups: (1) Strength-Opportunity (SO), (2) Strength-Threats (ST), (3) Weaknesses-Opportunities (WO), and (4) Weaknesses-Threats (WT), for creating the alternative strategies. The SO strategies use the internal strengths to take advantage of external opportunities (ideal case) and the WO