Research Article | OPEN ACCESS
A Proposed Framework for Selection and Prioritization of the Best Strategies: A Hybrid SWOT Analysis, Fuzzy PROMETHEE II and Porter's Generic Strategies
1Abbas Sheykhan, 1Shervin Zakeri, 2Hooman Abbasi and 3Mohmmad Hossein Mousavi
1Department of Industrial Engineering, Islamic Azad University, Arak Branch, Arak, Iran
2Department of Forestry, University of Agriculture Sciences and Natural Resources, Sari, Iran
3Department of Management, Higher Education Institute of Nima, Mahmoudabad, Iran
Research Journal of Environmental and Earth Sciences 2014 6:313-320
Received: January 10, 2014 | Accepted: February 10, 2014 | Published: June 20, 2014
Abstract
Today, in turbulent market environments and successive appearance of new competitors, one of the most important goals of industrial and business firms is first to keep their market share and then to increase it. They must find untapped markets or make them themselves therefore they have to know their competitive advantages. In 1980, M. Porter introduced three generic strategies. They have been concentrated to cost leadership, product differentiation and focus strategy. Nowadays many companies use Porter’s generic strategies pattern. The main challenge for companies is how to use Porter's generic strategies according to the internal and external factors of the company. This study presents a formulated framework for selection and prioritization of the best firms strategies based on Porter’s generic strategies. The purpose of this study is to present a comprehensive logical method for prioritization of the best strategies according to porter’s generic strategies then improving of SWOT analysis. This study tries to answer these questions: What is the method for improving selection and prioritization of strategies based on porter’s generic strategies? 2. How organizations can select the best strategies? How organizations can prioritize the selected strategies? How they can select and prioritize the best strategies of organization according to Porter’s generic strategies? In this study, we used SWOT analysis for selection of the strategies and prioritizing them by fuzzy PROMETHEE II method. This method uses Porter’s generic strategies as criterion. We used Shannon’s entropy to determine the importance weights of Porter’s generic strategies.
Keywords:
Entropy, fuzzy, porter, PROMETHEE II, SWOT analysis,
Competing interests
The authors have no competing interests.
Open Access Policy
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Copyright
The authors have no competing interests.
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ISSN (Online): 2041-0492
ISSN (Print): 2041-0484 |
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