An Integrated Approach with Group Decision-Making for Strategy Selection in SWOT Analysis

The main aim of this study was to improve the analytical dimension of SWOT (strengths, weaknesses, opportunities and threats) analysis with group decision-making, which underlines the analysis of internal and external environments that in turn, will improve the definition of corporate strategy within the strategic planning process. The main issue of the study was how to select the most appropriate strategy by taking into consideration different effects of each factor of SWOT analysis on strategy selection. The proposed model addresses strengths and opportunities as benefits and weaknesses and threats as costs. The model was solved with analytic network process (ANP) and fuzzy technique for order performance by similarity to ideal solution (TOPSIS) technique with group decision-making. The integrated ANP and Fuzzy TOPSIS model proposed at the end of the present study has been shown to be applicable to SWOT analysis and strategy selection.