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Elucidation of structural relationships of SWOT: A mixed method approach based on FMADM for formulating science and technology strategies

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  • Khatir, Mohammad Valipour
  • Akbarzadeh, Zeinolabedin

Abstract

With the use of SWOT (strengths, weaknesses, opportunities and threats) analysis, an organization extracts the most important environmental factors that play key roles in its success or failure and then formulate strategies to cover and fit these factors. Therefore, the appropriate application of SWOT analysis can provide a suitable foundation for formulating competitive strategies. However, one of its deficiencies is in the measurement and evaluation of prioritization of the sub-factors and strategies. This study presents a comprehensive approach to deal with inherent vagueness and uncertainty of the human decision process using fuzzy set theory. It aims to provide a quantitative basis via a hybrid fuzzy multi-attribute decision making (FMADM) model that will make data collection easy and decrease the calculating volume. This model combines fuzzy decision making trial and evaluation laboratory (DEMATEL) with fuzzy analytical network process (ANP), that is, FDANP, to determine the global weights of factors and sub-factors, and the best strategy is then selected by fuzzy technique for order of preference by similarity to ideal solution (TOPSIS). To demonstrate applicability of the proposed approach that reduces time of data collection, an illustrative example was presented for ranking strategies of Iranian National Science Foundation (INSF).

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  • Khatir, Mohammad Valipour & Akbarzadeh, Zeinolabedin, 2019. "Elucidation of structural relationships of SWOT: A mixed method approach based on FMADM for formulating science and technology strategies," Technology in Society, Elsevier, vol. 56(C), pages 44-56.
    • Handle: RePEc:eee:teinso:v:56:y:2019:i:c:p:44-56
    DOI: 10.1016/j.techsoc.2018.09.004
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    References listed on IDEAS

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    Cited by:

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    2. Silvia Novelli & Monica Vercelli & Chiara Ferracini, 2021. "An Easy Mixed-Method Analysis Tool to Support Rural Development Strategy Decision-Making for Beekeeping," Land, MDPI, vol. 10(7), pages 1-17, June.
    3. Büyüközkan, Gülçin & Havle, Celal Alpay & Feyzioğlu, Orhan, 2021. "An integrated SWOT based fuzzy AHP and fuzzy MARCOS methodology for digital transformation strategy analysis in airline industry," Journal of Air Transport Management, Elsevier, vol. 97(C).
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    5. He-Yau Kang & Amy H. I. Lee & Yao-Chuan Chan, 2019. "An Integrated Fuzzy Multi-Criteria Decision-Making Approach for Evaluating Business Process Information Systems," Mathematics, MDPI, vol. 7(10), pages 1-23, October.
    6. Rajak, Manindra & Shaw, Krishnendu, 2019. "Evaluation and selection of mobile health (mHealth) applications using AHP and fuzzy TOPSIS," Technology in Society, Elsevier, vol. 59(C).

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    Keywords

    SWOT analysis; FDANP; FTOPSIS;
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