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Limits Of Swot Analysis And Their Impact On Decisions In Early Warning Systems

Author

Listed:
  • Florin POPESCU

    (Doctoral School - Entrepreneurship, Business Engineering & Management University “Politehnica” of Bucharest, Romania)

  • Cezar SCARLAT

    (Doctoral School - Entrepreneurship, Business Engineering & Management University “Politehnica” of Bucharest, Romania)

Abstract

SWOT (strengths, weaknesses, opportunities, threats) analysis is useful in the decision-making process – crucial to any organization manager and/or strategist. This study aims to add value to the existing literature on SWOT, indicating its use and limitations, showing the need to link SWOT to other strategic tools and methodologies. As the current environment is turbulent and unpredictable, and economic cycles no longer comply with traditional rules, the precaution has become extremely important. That’s why SWOT should be supplemented with newer dynamic analysis capabilities and strategy tools, as early warning and opportunities system (EWOS), which can provide crucial inputs for scenario building, strategic thinking and decisions. EWOS is a novel approach based on three concepts that contribute to the ability of organization/project managers to develop outstanding capacity to "understand" and "benefit" in identifying opportunities and threats: (i) business and competitive intelligence; (ii) early warning thinking; (iii) strategic thinking in decision making process. EWOS is of practical use for strategists and decision makers.

Suggested Citation

  • Florin POPESCU & Cezar SCARLAT, 2015. "Limits Of Swot Analysis And Their Impact On Decisions In Early Warning Systems," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 7, pages 467-472, April.
    • Handle: RePEc:cmj:seapas:y:2015:i:7:p:467-472
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    Citations

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    Cited by:

    1. Charis Vlados & Dimos Chatzinikolaou, 2019. "Towards a Restructuration of the Conventional SWOT Analysis," Business and Management Studies, Redfame publishing, vol. 5(2), pages 76-84, June.
    2. Sandro Serpa & Carlos Miguel Ferreira & Maria José Sá, 2020. "The Potential of Organisations’ SWOT Diagnostic Assessment," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 9, July.

    More about this item

    Keywords

    SWOT analysis; Early warning; Early warning & opportunities system (EWOS); Decision making; Organization strategy;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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