Integrated SWOT analysis with multiple preference relations: Selection of strategic factors for social media
ISSN: 0368-492X
Article publication date: 1 November 2018
Issue publication date: 20 February 2019
Abstract
Purpose
SWOT (strengths, weaknesses, opportunities, threats) analysis is a powerful approach for evaluating the strengths and weaknesses of an organization with an internal perspective. The approach also takes into account the opportunities and the threats from an external point of view. These features make SWOT a commonly used approach in strategic management. The purpose of this paper is to propose an integrated SWOT analysis with multiple preference relations technique, to show the application of the proposed methodology, to prioritize the strategic factors and to present alternative strategies for ABC, a case company, which is targeting to use social media more effectively.
Design/methodology/approach
In this study, expert opinions are used to identify SWOT factors of ABC on social media. The obtained findings are evaluated and each factor is prioritized by means of the multiple preference relations technique.
Findings
The proposed evaluation model has four main groups, namely, strengths, weaknesses, opportunities, threats, under which 17 factors are identified. As a result of the evaluations, “O2: Opportunity to contact a large number of users simultaneously at affordable cost” has the highest importance level among other factors. Alternative strategies are developed based on the obtained results.
Originality/value
Decision-makers who have different backgrounds or ideas can state their preferences in different formats. Multiple preference relations technique is used to combine different assessments. SWOT analysis with multiple preference relations technique with a group decision-making perspective is proposed. This is the first time the method is used in the social media-related literature. With this study, the most appropriate social media strategic factors are selected for ABC and alternative strategies are determined based on the results.
Keywords
Acknowledgements
The authors would like to express their sincere gratitude toward to the case company’s managers for their unlimited support in the validation of the framework. The authors would like to thank the editor and anonymous reviewers for their valuable comments and suggestions which improved the quality of the paper. The financial support by the Galatasaray University Research Fund is also acknowledged (Projects number: 18.402.001 and 18.402.003).
Citation
Büyüközkan, G. and Ilıcak, Ö. (2019), "Integrated SWOT analysis with multiple preference relations: Selection of strategic factors for social media", Kybernetes, Vol. 48 No. 3, pp. 451-470. https://doi.org/10.1108/K-12-2017-0512
Publisher
:Emerald Publishing Limited
Copyright © 2018, Emerald Publishing Limited