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Holistic approach for diagnosing, prioritising, implementing and monitoring effective strategies through synergetic fusion of SWOT, Balanced Scorecard and QFD

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Listed:
  • L.C. Koo
  • Hannah Koo

Abstract

The integrative fusion of three powerful strategic tools yields obvious synergetic benefits for strategy planners. This holistic approach provides a pragmatic framework for developing a list of Key Success Factors (KSFs) and converting them into the respective internal strengths and weaknesses of an organisation. A systematic way is adopted to explore and evaluate the significance and likelihood of occurrence of various external factors to generate the list of external opportunities and threats. Matching the internal factors with the external factors, the SWOT analysis yields a list of action items as the basis for strategies. Slotting these action items (strategic performance measures) in the BSC framework portrays subjective yet democratic 'cause and effect' relationships among them through QFD. A Double House Of Quality (Double HOQ) is introduced to depict the relationships among the internal KSFs and the derived strategies. This holistic strategic formulation approach is called BSQ (short-form of Balanced Scorecard-SWOT-QFD).

Suggested Citation

  • L.C. Koo & Hannah Koo, 2007. "Holistic approach for diagnosing, prioritising, implementing and monitoring effective strategies through synergetic fusion of SWOT, Balanced Scorecard and QFD," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 3(1), pages 62-78.
    • Handle: RePEc:ids:wremsd:v:3:y:2007:i:1:p:62-78
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    Cited by:

    1. Sanja Penić, 2014. "Selection of Priority Cause and Effect Chains on the Strategy Map of Goals Using AHP Multiple Criteria Analysis," Information Management and Business Review, AMH International, vol. 6(1), pages 8-16.
    2. Collins Okello & Stefania Pindozzi & Salvatore Faugno & Lorenzo Boccia, 2014. "Appraising Bioenergy Alternatives in Uganda Using Strengths, Weaknesses, Opportunities and Threats (SWOT)-Analytical Hierarchy Process (AHP) and a Desirability Functions Approach," Energies, MDPI, vol. 7(3), pages 1-22, February.
    3. Stefano Bruzzese & Simone Blanc & Silvia Novelli & Filippo Brun, 2023. "A Multicriteria Analysis to Support Natural Resource Governance: The Case of Chestnut Forests," Resources, MDPI, vol. 12(3), pages 1-13, March.
    4. Ratapol Wudhikarn & Danaitun Pongpatcharatorntep, 2022. "An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand," Mathematics, MDPI, vol. 10(4), pages 1-23, February.

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