Paper Information

Journal:   JOURNAL OF INDUSTRIAL MANAGEMENT   SUMMER 2010 , Volume 5 , Number 12; Page(s) 19 To 39.
 
Paper: 

THE STRATEGIC ANALYSIS, FORMULATION, AND SELECTION OF STRATEGY BASED ON SWOT MATRIX AND FUZZY MADM TECHNIQUES

 
 
Author(s):  KHORSHID SEDIGHEH*, RANJBAR REZA
 
* SEMNAN UNIVERSITY
 
Abstract: 
The strategic analysis, formulation and selection of strategy are the two first and important components of strategic management, which require identify and analyze the organizational strengths, weaknesses, and also environmental opportunities and threats facing organization. Many techniques can be used to analyze strategic cases in the strategic management process. Among them, Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, which evaluates the organizational opportunities, threats, and its environmental strengths, and weaknesses, is the most common. However, the result of SWOT analysis is often merely a listing or an incomplete qualitative examination of the internal and external factors. SWOT analysis does not provide an analytical means to determine the relative importance of factors, or the ability to assess the appropriateness of decision alternatives based on these factors, and also rank then. For this reason, this matrix cannot comprehensively support the strategic decision-making. In this paper, the matrix SWOT is integrated with Fuzzy AHP, Fuzzy ANP, and Fuzzy TOPSIS in order to support of the process of strategic analysis, formulation, and selection of strategy. This integration can capture vague and uncertain in strategic decision- making process, quantify SWOT factors to determine the effect of each factor on the proposed strategy, and determine the degree important of them. As well, it can rank the formulated strategies in term of the impacts of SWOT strategic factors on the success of organization, and provide adequate vision and knowledge related to own organization's capabilities and competencies for organization strategic team in order to exploit around environment for acquiring competitive advantage.
 
Keyword(s): STRATEGIC MANAGEMENT, SWOT ANALYSIS, FUZZY AHP, FUZZY ANP, FUZZY TOPSIS
 
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