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Towards a Restructuration of the Conventional SWOT Analysis

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (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

  • Vlados, Charis & Chatzinikolaou, Dimos, 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
    Note: Business and Management Studies, Vol. 5, No. 2, pp. 76-84.
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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).

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    More about this item

    Keywords

    conventional SWOT analysis; correlative/evolutionary SWOT analysis; strategic analysis/synthesis;
    All these keywords.

    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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