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Towards a Restructuration of the Conventional SWOT Analysis

Author

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  • Charis Vlados

    (Democritus University of Thrace, Department of Economics)

  • Dimos Chatzinikolaou

    (Democritus University of Thrace, Department of Economics)

Abstract

Today, the use of SWOT analysis is increasingly popular for the strategic planning of businesses. However, we argue that a traditional and conventional way of approaching the SWOT analysis contains an interpretative mistargeting which, in the background, derives from the absence of a comprehensive evolutionary methodological framework. Therefore, a conventional SWOT analysis that articulates lists of strengths-weaknesses and opportunities-threats in an absolute and non-correlative way is probably inappropriate to give answers to the needs of strategic planning. In this direction, by also exploring elements from the criticism to the traditional SWOT analysis, we counter-propose a new conceptual framework that perceives SWOT analysis in a correlative and evolutionary way, for all the kinds of socioeconomic organisms.

Suggested Citation

  • Charis Vlados & Dimos Chatzinikolaou, 2019. "Towards a Restructuration of the Conventional SWOT Analysis," DUTH Research Papers in Economics 5-2019, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2019_005
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    Cited by:

    1. Olabi, A.G. & Wilberforce, Tabbi & Sayed, Enas Taha & Abo-Khalil, Ahmed G. & Maghrabie, Hussein M. & Elsaid, Khaled & Abdelkareem, Mohammad Ali, 2022. "Battery energy storage systems and SWOT (strengths, weakness, opportunities, and threats) analysis of batteries in power transmission," Energy, Elsevier, vol. 254(PA).
    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.

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    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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