Applying hybrid FMADM model for analysing SWOT strategies at the Iranian industrial engines manufacturing firm (a case study)

Abdol Hamid Safaei Ghadikolaei, Zeinolabedin Akbarzadeh, Ahmad Ahmadi and Yaser Vahedi Geshniani

International Journal of Productivity and Quality Management, 2017, vol. 20, issue 4, 462-487

Abstract: This study aims at providing a quantitative basis to analytically determine the relative weights of SWOT factors by novel hybrid approach of fuzzy DEMATEL-ANP (FDANP) techniques, then ranking strategies with fuzzy VIKOR method. This paper proposes an effective solution to help companies that need to evaluate and select SWOT strategies. The case study of the research is a company that manufactures household and industrial electric engine. Here, five strengths, four weaknesses, four opportunities and four threats have been identified by analysing the internal and external environment of the organisation. Next, those seven strategies were proposed with combination and integration. The results indicate that, company's well-known brand in internal markets and the uncertainty of international relations are the most important factors in choosing a strategy, and development of external partnerships as the most appropriate strategy is chosen for the company's case study.

Keywords: SWOT strategies; strategic management; cause and effect diagram; novel hybrid approach; FMADM; fuzzy MADM; multi-attibute decision making; Iran; electric engines; engine manufacturing; manufacturing industry; case study; fuzzy DEMATEL; ANP; analytic network process; FDANP; fuzzy VIKOR; fuzzy logic. (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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