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

Mohammad Valipour Khatir and Zeinolabedin Akbarzadeh

Technology in Society, 2019, vol. 56, issue C, 44-56

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).

Keywords: SWOT analysis; FDANP; FTOPSIS (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:56:y:2019:i:c:p:44-56

DOI: 10.1016/j.techsoc.2018.09.004

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