The current issue and full text archive of this journal is available at

www.emeraldinsight.com/1755-425X.htm

Exploring SWOT analysis

where are we now?
A review of academic research from the
last decade

Exploring
SWOT analysis

215

Marilyn M. Helms
School of Business, Dalton State College, Dalton, Georgia, USA, and

Judy Nixon
Management Department, University of Tennessee at Chattanooga,
Chattanooga, Tennessee, USA
Abstract
Purpose The purpose of this study is to examine the use of the strategic management tool,
Strengths-Weaknesses-Opportunities-Threats or SWOT analysis, and to assess how the methodology
has been used as well as changes to the methodology. The findings both for and against SWOT analysis
should lead to a balanced view of the technique as well as yield ideas for needed theory building.
Design/methodology/approach Using the ABInform Globalw database, academic peer-reviewed
articles were compiled indicating SWOT as one of the articles key index and search words.
Findings The use of SWOT analysis continues to permeate the academic peer-reviewed literature.
Research supports SWOT analysis as a tool for planning purposes. Over the past decade, SWOT
research has focused on analyzing organizations for recommended strategic actions. As a
methodology for strategic positioning, SWOT analysis has been extended beyond companies to
countries and industries and is used in virtually every published business case positioned for business
student analysis. Additional use of SWOT is as teaching tools by consultants, trainers and educators.
This paper provides a summary of the research studies and suggests paths for future research.
Research limitations/implications This paper is limited to analyzing reports found in a
selection of academic peer-reviewed business journals. However, research implications for applying
SWOT analysis provides a broad spectrum of industry analysis in North America, Europe, and Asia.
Additional limitations are the need to link SWOT analysis to other strategic tools and methodologies
for further theory building, since past research continues to lack quantifiable findings on the success of
the SWOT analysis.
Practical implications A fresh view of new directions and implementations for SWOT analysis,
as well as other strategic planning tools that can be combined with SWOT, provides guidance for
practitioners and policy makers alike.
Originality/value The article adds value to the existing literature as the first summary of SWOT
research indicating its uses and limitations. Support of its usage and place in the strategic literature is
validated. The SWOT methodology is pervasive, in large part, due to its simplicity. In addition, the use
of SWOT as a proven developmental, results-oriented strategic planning tool is also extended,
although further research leading to theory building is warranted and recommended.
Keywords SWOT analysis, Strategic management, Research methods, Globalization
Paper type Literature review

Introduction
Researchers in strategic management (Ansoff, 1965; Andrews, 1987; Porter, 1991; and
Mintzberg et al., 1998) agree SWOT or Strengths, Weakness, Opportunities, and

Journal of Strategy and Management

Vol. 3 No. 3, 2010
pp. 215-251
q Emerald Group Publishing Limited
1755-425X
DOI 10.1108/17554251011064837

JSMA
3,3

216

Threats, analysis provides the foundation for realization of the desired alignment of
organizational variables or issues. By listing favorable and unfavorable internal and
external issues in the four quadrants of a SWOT analysis grid, planners can better
understand how strengths can be leveraged to realize new opportunities and
understand how weaknesses can slow progress or magnify organizational threats. In
addition, it is possible to postulate ways to overcome threats and weaknesses (e.g.
Hofer and Schendel, 1978; Schnaars, 1998; McDonald, 1999; Kotler, 2000), or future
strategies, from SWOT analysis.
SWOT history
The origin of the term SWOT is unknown. SWOT analysis was described by
Learned et al. (1969) and has grown as a key tool for addressing complex strategic
situations by reducing the quantity of information to improve decision-making. On-line
wikis credit SWOTs origination with Stanford University Professor Albert Humphrey
who led a research project in the 1960s and 1970s based upon the United States
Fortune 500 companies but no academic references to support this claim can be found
(King, 2004). Haberberg (2000) stated SWOT was a concept used by Harvard
academics in the 1960s while Turner (2002) attributed SWOT to Igor Ansoff (1987).
Koch (2000) credited the contributions of Weihrich (1982), Dealtry (1992), and
Wheelan and Hunger (1998) to SWOTs further development and innovation. Wheelan
and Hunger (1998) used SWOT to find gaps and matches between competences and
resources and the business environment in their popular business policy and strategy
text while Dealtry (1992) approached SWOT in terms or groups and vectors with
common themes and interactions. Regardless of the exact historical credit for coining
the term SWOT, it has a half-century of use and documentation in the literature.
SWOT usage
SWOT has been used by countless practitioners, marketing researchers, and is a
frequent and popular tool for business marketing and strategy students. Its simplicity
and catchy acronym perpetuates its usage in business and beyond as the tool is used to
assess alternatives and complex decision situations. In the business arena the grouping
of internal and external issues is a frequent starting point for strategic planning. It can
be constructed quickly and can benefit from multiple viewpoints as a brainstorming
exercise. Typically, managers first consider internal strengths and weaknesses (at the
top row of the 2 2 grid) which can include image, structure, access to natural
resources, capacity and efficiency, and financial resources. At the bottom row of the
SWOT grid, external opportunities and threats including customers, competitors,
trends in the market, partners and suppliers, social changes and new technology, and
various environmental economic, political and regulatory issues are included. SWOT
analysis assists in the identification of environmental relationships as well as the
development of suitable paths for countries, organizations, or other entities to follow
(Proctor, 1992).
Glaister and Falshaw (1999) agree SWOT analysis is one of the most respected and
prevalent tools of strategic planning. Dickson (2002) agrees the traditional SWOT
analysis can be re-conceptualized in terms of the direction and momentum where the
market can still be changed. This provides insight into teaching marketing strategy
and competitive rationality skills. Valentin (2001) advocates SWOT analysis as the

traditional means for searching for insights into ways of crafting and maintaining a
profitable fit between a commercial venture and its environment. SWOT is used to
identify cultural impediments and advantages and external governmental roles as well
as internal company issues. Glaister and Falshaw (1999) found SWOT analysis one of
the highest ranked set of tools and analysis techniques used in strategic planning in
companies in the UK. Panagiotou (2003) contends SWOT analysis is used more than
any other strategic planning tool.

Exploring
SWOT analysis

217

Purpose of the research paper

While SWOT is a pervasive, accepted concept in strategic management, the tool itself
has not been subjected to analysis. The purpose of this paper is to review the last
decade of SWOTs usage in the academic literature and categorize the levels and types
of applications for further analysis and extension as well as to aid subsequent theory
building.
Methodology
For the past decade from June 1, 1999 through June 30, 2009, the authors searched
peer-reviewed academic research included in the database ABInform Globalw for
SWOT analysis studies and articles to identity SWOTs uses, trends, and
recommendations. This database includes over 3,020 publications, primarily about
business conditions, management techniques, business trends, management practice
and theory, corporate strategy and tactics, and competitive landscape
(www.proquest.com) which is the typical domain for SWOT analysis research. Its
coverage of business and management journals over time, it provides a unique
historical perspective on hundreds of topics, including corporate strategies,
management techniques, marketing, product development, and industry conditions
worldwide. SWOT was used as the only search term and the search was limited to
academic research, published in peer-reviewed journals only. A total of 145 research
studies emerged using the search criteria; three were eliminated because they were
duplicate entries in the database and another article was eliminated as the reference to
SWOT did not relate to SWOT analysis, leaving a total of 141 studies over the
decade of study.
As the field of strategic management has grown with the changing international
economic landscape, the last ten years was selected as an important time frame to
judge both usage of the methodology and changes in its usage over time. As shown in
Table I, studies per year ranged from four in 2001 to 30 in 2007.
The 142 studies were examined for trends, issues, uses of SWOT, and value-added
in long-term planning. Specifically, studies were sought that indicated sole use of
SWOT analysis or if SWOT was used in combination with other long-range strategic
planning tools. The authors next used affinity diagrams to group and classify the
collected studies using summaries on index cards. Affinity diagrams are a popular text
clustering technique used to categorize large number of seemingly disparate comments

Year
Number of studies

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total
5

10

13

18

12

29

22

12

141

Table I.
Refereed journal articles
referencing SWOT
analysis by year of
publication June 1, 1999
to June 30, 2009

JSMA
3,3

218

(Dobrzynski, 2007; Levesque and Walker, 2007; Plain, 2007; White et al., 2002; Mango,
2006). The affinity diagram methodology was chosen due to its importance as an
interpretative, qualitative approach to research, allowing for investigation and
emergence of multiple contextual variables or classification schemes.
The objective of the methodology is to utilize the qualitative data for explanatory
purposes and to generalize findings in support of theory based on a distillation of the
various respondent comments. The clustering of issues into logical categories helps
draw inferences from the data collected. Thus the goal is to better understand
categories of service failures and identify the service failures that result in customer
defection.
The researchers summarized, grouped, and clustered the comments by key themes
and focus areas. Through the iterative process, major classifications were identified to
group the studies. Working alone, the authors initially coded the studies using affinity
diagrams and then working together they developed the final classification framework
for organization based primarily on the level of analysis and usage of SWOT analysis
within the studies, i.e. on an individual level of analysis, on an organizational level, for
an entire industry, and for an entire country. Within each of these main categories, the
list was further divided as to a lone analysis, paired comparisons or multiple
comparisons. Two additional groups of studies emerged from the affinity diagram
analysis that did not fit into a classification as a business analysis. The first focused on
the use of SWOT as a research tool or method for strategic planning. These studies
were grouped separately as were the second group of business cases targeted for
student analysis and published primarily in business case journals. In each case study
the SWOT methodology was recommended as a tool for student decision-making. Once
the categories were finalized, the co-authors again separately coded the studies into the
framework alone and then together discussed and agreed upon the final classification
as shown in Table II and discussed below.
Individual
While SWOT analysis is primarily used to aid an organization plan future strategies,
the framework can also be applied to individuals. While no studies looked at only one
individual or a pair of individuals, one study did focus on entrepreneurs as a group.
Ames and Runco (2005) used the SWOT analysis framework to determine why certain
entrepreneurs were successful. Their study polled 47 successful entrepreneurs using a
pencil-and-paper format and applied SWOT to the entrepreneurs own businesses and
developed SWOT scores for each business.
Organization
As expected priori, SWOT analysis was frequently applied to organizational
assessments for strategic planning. Studies report use of the tool for individual
organizations, for comparing two companies, and for assessing several companies (but
not the entire group of companies comprising an industry). Individual studies were
grouped into subcategories of education:
.
healthcare;
.
government and not-for-profit; and
.
for-profit companies.

1
13

Studies

Organization

Individual

N/A
N/A
Entrepreneurs
Education:
Shih Chien University (Taiwan)
University of Warwick (UK)
Vocational Training Councils Hong Kong Institute of
Vocational Education
Open University (UK)
University of SC (US)
Healthcare, Government, and not-for-profit:
National Health System (UK) Hospital
International Association of Applied Psychology
Hsin-Chu City Government of Taiwan
Pukekura Public Park in New Plymouth, New
Zealand
For-profit companies:
Air China
Kirby
Cadbury Schweppes
High growth firm wealth preservation
Two companies
US non-profit organizations
Universities information systems
More than two companies Airline maintenance activities
American Society for Quality
Life cycle performance in Scottish firms
Avon, Revlon, Max Factor, and Este Lauder cosmetics
companies

Individual
As a pair
As a group
Individual

Ahmed et al. (2006)

Sorensen et al. (2004)
Vrontis and Vignali (2001)
Beneda (2008)
Villinger (2009)
Gable et al. (2007)
Al-kaabi et al. 2007)
Osbum and Klimaszewski (2005)
Smith (1999)
Strategic Direction (2007b)

Higginbottom and Hurst (2001)

Savickas (2007)
Chang and Lin (2005)
Wrigley and Gould (2002)

Maiteny and Ison (2000)

Kuiper andThomas (2000)

Hai and Tsou (2009)

Dyson (2004)
Lee et al. (2000)

N/A
N/A
Ames and Runco (2005)

(continued)

Exploring
SWOT analysis

219

Table II.
SWOT studies by level of
analysis

Table II.

23

Industry

One country
Nursing
United States of America Bioenergy
Information technology (IT)
Healthcare
Small business Arkansas
Electronic supermarket
Counseling psychology
One country outside the Iranian transportation and energy
United States of America Iranian power industry
Greece, olive oil
South Africa, National Mapping Org.
Barbados healthcare
UK pharmaceutical
Vietnam construction
Taiwanese Professional Service
Finnish maritime industry
Hong Kong counseling psychology
Chinese counseling psychology
Canadian counseling psychology
Korean counseling psychology
Singapore counseling psychology
Portuguese counseling psychology
Australian counseling psychology
South African counseling psychology
Chinese tourism
Portuguese tourism
Taiwan information
Textile/Hong Kong
Chinese garment
Hong Kong banking

Conway-Morana (2009); Contino (2001)

Crow et al. (2008)
Dwivedi and Alavalapati (2009); Bielski (2006)
Stuart-Kregor (2005)
Bradley et al. (2003)
Pandya and Arenyeka-Diamond (2002)
Leong and Leach (2007a)
Jafari and Baratimalayeri (2008)
Razmi et al. (2008)
Blery and Sfetsiou (2008)
Denner and Oosthuizen (2008)
Dey and Hariharan (2008)
Terblanche (2008)
Luu et al. (2008)
Ou and Chai (2007)
Ryynanen and Jansson (2007)
Leung et al. (2007)
Hou and Zhang (2007)
Young and Nicol (2007)
Seo et al. (2007)
Leong and Savickas (2007a)
Duarte et al. (2007)
Pryor and Bright (2007)
Watson and Fouche (2007)
Miaoyan (2007)
Ramos et al. (2000)
Lin and Hsu (2006)
Tam et al. (2005)
Chen and Shih (2004)
Ko and Lee (2000)
(continued)

220

Studies

JSMA
3,3

19

Studies

Country

Multiple countries

As a pair

Alone

Two or more
US/India information systems
Cosmetics
Cable TV/US and world
EU telecommunications
SE Europe e-commerce
Hydraulic power generation
Venezuela
Export of BPO services/India
Foreign direct investments/Bangladesh
Business process outsourcing/India
Offshore outsourcing/India
Capitalism/China
E-Government/Turkey
Water quality/Australia
Strategic planning/Turkey
Rapid prototyping/South Africa
Hotel industry/China
Consumer studies/Finland
Communication/Japan
Entrepreneurship/Japan
Software/Australia
Franchising/Russia
Internet market segmentation/Taiwan
Quality/Hungary
China
Intellectual capital in Spain/Portugal
Export US/Canada
Service Non-profit
Intellectual property for China/US/EU/Japan

World market/sports betting

Australian/Korean info systems

Koning and van Velzen (2009)

Communications of the Association for Information
Systems (2007a)
Kumar (2007)
Kumar et al. (2006); Kumar (2005)
McGrail and Roberts (2005)
Blackman and Forge (2008)
Papazafeiropoulou (2004)
Schwery and Raurich (2004)
Duarte et al. (2006)
Duarte et al. (2006)
Rajeev and Vani (2009)
Salman (2009)
Mehta et al. (2006)
Nair and Prasad (2004)
Lin and Lin (2008)
Kharaman et all. (2007)
Robins and Dovers (2007)
Dincer et al. (2006)
Campbell and de Beer (2005)
Yu and Huimin (2005)
Turkki (2005)
Ishino and Kijima (2005)
Helms (2003)
Bernroider (2002)
Anttonen et al. (2005)
Lin et al. (2004)
Molnar (2003); Helms (1999)
Prefontaine and Bourgault (2002)
Palacios and Galvan (2006)
Kong (2008)
Kumar and Ellingson (2007)
(continued)

Exploring
SWOT analysis

221

Table II.

Table II.

SWOT as a
tool

Need for theories in strategy

Diagnostic tool
Political correctness
How to . . . series
Group decision support system
Artificial markets
Strategic frameworks
Analytic hierarchy process
Strategy planning and change
Finding strengths and weaknesses
Total productive maintenance
Strategic issue management system
Real options and real strategies
Cluster building process
Strategic tools
Strategic planning profile
Business performance
Open access publishing
Strategic planning
NGOs as partners
Computer aided narration
Appreciative inquiry
Opportunity model
Telescopic observations
Performance index
Strategic knowledge
Benchmarking system modeling
Balanced scorecard
Front and back end planning
Team and organizational diversity
Prairie dogs
Career counseling

Grant, 2008
Coman and Ronen (2009)
Marques (2009)
Evans and Wright (2009)
Lin et al. (2008)
Zenobia et al. (2009)
Mulcaster (2009)
Ho (2008)
Mayer and Vambery (2008)
Occupational Health (2008)
Mishra et al. (2008)
Oliver and Donnelly (2007)
Zarkos et al. (2007)
Reid et all. (2007)
Gunn and Williams (2007)
Sherman et al. (2007)
Lu et al. (2007)
Chang (2006)
Nickols and Ledgerwood (2006)
Domeisen and Sousa (2006)
Christian and Flamant (2005)
Egan and Lancaster (2005)
Morris (2005)
Panagiotou (2003); Panagiotou and van Wijnen (2005)
Grover et al. (2005)
Marti (2004)
Grandy and Mills (2004)
Ip and Koo (2004)
Novicevic et al. (2004)
Jackson et al. (2003)
Lindborg (2003)
Savickas (2003)
(continued)

222

48

Studies

JSMA
3,3

141

Studies

Total

Teaching
case
Fleming-Mason energy electric
Blockbuster
Strayer
German Internet Company
Pearl Beer
America West and US Air
Native Alaskan Village Corp.
Cattle Ranch
Jet Blue

Marketing strategy
Time management for builders
Contemporary management theory
Total quality management and e-business
Marketing tools
SWOT guidelines
High uncertainty environments
E-business
Tools in colleges of business
Short-term issues
Balanced scorecard
Knowledge-based system
Resource-based view
Business marketing
Operations research and management science in
universities
Sale (2007)
Xie and Lin (2008)
Stotler (2008)
Rau (2007)
Elrod (2008)
Cobb et al. (2006)
Don et al. (2005)
Holman and Hinthorne (2004)
Box and Saxton (2004)

Lippitt (2003)
Kasturi and Gransberg (2002)
Li et al. (2002)
Martin (2002)
Dickson (2002)
Valentin (2001)
Koufopoulos and Chryssochoidis (2000)
Hackbarth and Kettinger (2000)
Brewer et al. (2000)
Oliver (2000)
Lee and Ko (2000)
Houben et al. (1999)
Fahy and Smithee (1999)
Bailey (1999)
Sodhi and Tang (2008)

Exploring
SWOT analysis

223

Table II.

JSMA
3,3

224

Individual education studies

Hai and Tsou (2009) used SWOT to develop a strategy for the Department of
Information Management of Shih Chien Universitys Kaohsiung campus in Taiwan.
The authors used a quantifiable method by including Multiple-Criteria Decision
Making with the SWOT analysis. Their resulting SWOT indices were voted upon and
weighted to determine the best strategic alternative.
Dyson (2004) studied the strategic development process at the University of
Warwick (UK) by linking SWOT analysis to resource-based planning in an iterative
process, embedded within overall strategic planning. In another education-focused
study, Lee et al. (2000) described the framework employed in strategy formulation by
the Hong Kong Institute of Vocational Education. The study joined SWOT analysis
with the balanced scorecard (BSC) method prior to analyzing the Malcolm Baldrige
National Quality Award criteria for education performance excellence with the quality
function deployment (QFD) methodology. In another educational study, Maiteny and
Ison (2000) presented a reflective inquiry into the SWOT of systems-related courses
developed and presented by the Systems Department in the Open University (UK),
while Kuiper and Thomas (2000) used SWOT analysis to undertake a major revision of
the undergraduate curriculum in the Moore School of Business at the University of
South Carolina (US).

Health care, government, and not-for-profit

Another subcategory within SWOT studies of individual organizations included
health care, government, and not-for-profit organizations. Higginbottom and Hurst
(2001) used SWOT analysis to assess quality in the New National Health System (UK)
in a large teaching hospital to develop a therapy quality assurance strategy. Savickas
(2007) used SWOT analyses to assess the Counseling Psychology Division of the
International Association of Applied Psychology, an organization providing career
counseling, as they planned strategies for the next decade. Chang and Lin (2005) used
SWOT analysis along with a global competitive index to study the Hsin-Chu City
Government of Taiwan. Wrigley and Gould (2002) used SWOT to assess the need for
recreation and ways to increase user participation in a public park environment at
Pukekura Park, in New Plymouth New Zealand.

For-profit companies
For-profit companies were studied individually as well. Ahmed et al. (2006) used
SWOT analysis to study Air China, the largest air carrier in China, and their recent
total quality management implementation. Sorensen et al. (2004) studied the Kirby
company used applications of SWOT analysis and the strategic choice approach to
assess the companys learning process. Using SWOT analysis, Vrontis and Vignali
(2001) studied Cadbury Schweppes, the supplier of chocolate and sugar confectionary.
In a general study of characteristics of a high growth firm, Beneda (2008) agrees
maintaining a high-growth firms competitive position is a key factor in stockholder
wealth preservation and suggest a firm first perform a competitive analysis, of which
SWOT is a key part, to review competitors.

Two or more companies

Interestingly, SWOT analysis seems to be more popularly utilized when analyzing
either one organization or when assessing a number of companies. Only two studies
during the decade compared only two companies. Villinger (2009) used SWOT along
with other managerial frameworks to understand how organizations form their
mission and strategies in public service focusing on two non-profit organizations in the
US. Gable et al. (2007) used SWOT analysis to explore perceptions of differential
administrative placement of the information systems academic discipline within two
universities.
Three studies profiled more than two companies using the SWOT methodology.
Al-kaabi et al. (2007) evaluated the business models used for airlines maintenance,
repair and overhaul (MRO) activities through a SWOT analysis prior to further
exploratory study of eight airlines. Osbum and Klimaszewski (2005) used SWOT as
their first step to planning the annual long-range strategy for each of the American
Society for Qualitys geographical membership regions. Smith (1999) gathered data via
face-to-face interviews with the owner-managers of 150 small firms in Scotland and
used SWOT analysis along with trade intelligence of rivals, the use of information
technology and financial data to profile the strategic behavior of the young micro
firms.
Another study analyzed four of the major players in the cosmetic industry, Avon,
Revlon, Max Factor, and Este Lauder using a number of tools in addition to SWOT and
included Porters value chain and 5-Forces, and financial study. According to the study
authors the analysis and briefing saves executives and researchers time by selecting
only the very best, most pertinent information and presenting it in a condensed format.
Industry
One industry USA
As expected, each published industry study was unique. One of the two studies of the
nursing industry set goals based on SWOT analysis results and further assessed the
results using metrics of employee satisfaction, retention, and productivity
(Conway-Morana, 2009). Other studies used SWOT analysis to combat personnel
shortages in nursing (Contino, 2001; Crow et al., 2008).
In the US bioenergy industry, perceptions differed among the stakeholders along
with the ranking of those SWOT elements (Dwivedi and Alavalapati, 2009). A SWOT
analysis in the retail information technology industry examined the specific
applications for improvement (Bielski, 2006). Improved assessment tools in the
healthcare industry were sought to yield a better marketing plan using SWOT results
(Stuart-Kregor, 2005). Bradley et al. (2003) used SWOT analysis to evaluate the effects
of the Hispanic population on Arkansas small businesses. The favorable results on the
economy were increased number of workers for production, start-up for new
businesses, more consumers of products, and increased purchasers of real estate. A
SWOT analysis was used to develop a model of e-tailing for electronic supermarkets to
obtain a competitive advantage by Pandya and Arenyeka-Diamond (2002). The
Division of Counseling Psychology of the American Psychological Association studied
various countries to improve the status of use of counseling. In the US study, Leong
and Leach (2007a) report opportunities include the recent attention to social justice as a
core area of counseling inquiry and intervention.

Exploring
SWOT analysis

225

JSMA
3,3

226

One country non-US

Numerous studies used SWOT analysis to profile non-US industries. In one of the two
studies on fossil energy, Razmi et al. (2008) reported findings for compiling and
prioritizing strategies to illustrate main path long-term planning and development.
Those were increasing productivity and efficiency, reducing costs, renewing structure
and making companies private, applying information technology, increasing
productivity of human resources, and increasing environmental protection, the
authors reported all but the last strategy suggested had been implemented in Iran. The
second study used SWOT to examine and recommend conservation policies for Iran to
alleviate the gasoline crisis (Jafari and Baratimalayeri, 2008). Denner and Oosthuizen
(2008) used SWOT analysis to aid in the strategic positioning and configuration of
national mapping organizations as enablers of economic and social growth in South
Africa.
Blery and Sfetsiou (2008) studied the promotion and marketing of olive oil in the
Greek market, using SWOT analysis. Dey and Hariharan (2008) recommended specific
projects to improve healthcare in Barbados. Opportunities identified by Terblanche
(2008) through SWOT analysis for the pharmaceutical industry in the UK were
off-shoring, advanced application of information technology, climate change, and a
new approach to sales and marketing. Using both the balanced scorecard and the
SWOT analysis, Luu et al. (2008) evaluated the construction industry in Vietnam with
11 specific solutions in four categories of new organization structure, managing
processes on site, cost control, and better equipment management.
Ou and Chai (2007) recommended new ways to evaluate management consulting
firms by showing what the firm does and how it adds value for clients and
recommendations setting up business in Taiwan. Ryynanen and Jansson (2007) used
SWOT to aid the Finnish maritime industry as they reviewed challenges of setting up
international business operations in China. The main finding of the study was in order
for a company to be successful each must share information across companies and the
entire industry.
A series of international studies conducted by the Division of Counseling
Psychology within the American Psychological Association sought to improve the
status for the use of counseling in several countries. Those recommendations were all
derived from SWOT analysis. Countries reporting research findings were Hong Kong
(Leung et al., 2007), China (Hou and Zhang, 2007), Canada (Young and Nicol, 2007),
Korea (Seo et al., 2007), Singapore (Leong and Savickas, 2007b), Portugal (Duarte et al.,
2007), Australia (Pryor and Bright, 2007), and South Africa (Watson and Fouche, 2007).
To increase tourism in China (Miaoyan, 2007) and Portugal (Ramos et al., 2000) both
studies recommended a development pattern for their respective countries. Ramos et al.
(2000) identified the main constraints to development as governmental control and
over-dependence on EU funds.
Suggestions for Taiwans information industry were to sustain its R&D
performance and play a more important global role based on SWOT analysis (Lin
and Hsu, 2006). Chen and Shih (2004) state the World Trade Organizations accession
benefits the Chinese garment industry through foreign-invested enterprises to gain
direct access to overseas purchasing networks. Tam et al. (2005) studied the textile and
clothing industry in Hong Kong with a recommendation to develop an original brand
management business for the preferred approach. Using both Eastern and Western

cultures, Ko and Lee (2000) provided a strategic formulation from the Chinese banking
industry in Hong Kong using tools from SWOT analysis, the balanced scorecard, and
Sun Tzus Art of Business Management.
Two or more countries
Using SWOT analysis, Koning and van Velzen (2009) studied sports betting exchanges
with an argument that liquidity is the determinant of the long-term success. SWOT
analysis was implemented in an educational setting to determine where Information
Systems Departments should be placed in four universities across two countries
Australia and Korea (Communications of the Association for Information Systems,
2007a). The analysis provided a useful basis for decision makers to use opportunities
and minimize threats.
Kumar (2007) compared software development companies in the USA and India.
The analysis using SWOT, financial performance data, and Porters 5-Forces showed a
common business strategy between the US and Indian information technology and
software companies. Using the same analytical tools, trends in four market leaders in
the cosmetics industry were reported in two studies (Kumar, 2005; Kumar et al., 2006).
The practical implications of the results indicated a move toward more joint ventures
throughout the world between drug companies, cosmetic companies, and
nutrition/food companies.
McGrail and Roberts (2005) studied the worldwide cable television industry. Using
the SWOT analysis for the environment, value chain analysis for the core activities,
and a Boston consulting group product matrix to assess products offered by the
industry, four forces emerged that have impacted the industry but caused few modified
strategies. Similar results were found in telecommunications across the European
Union (Blackman and Forge, 2008). Schwery and Raurich (2004) used the SWOT
analysis to assess new technologies within the hydraulic power generation business.
They reported the technology push was found in specified market segments. Finally,
Papazafeiropoulou (2004) studied e-commerce and information technology from eight
countries. Recommendations were to assist the Southeast Europe region to become
more advanced as compared with the Western Europe region.
Country
One country
Duarte et al. (2006) used SWOT analysis to review challenges facing Venezuela,
particularly in the area of oil production. Because of the importance of business process
outsourcing (BPO) in India, a SWOT analysis of competition along with a country
attractiveness index was used to arrive at recommendations for continued success
(Rajeev and Vani, 2009). In a second study of BPO, Mehta et al. (2006) interviewed 28
executives in business process outsourcing firms in India and found four global
research agencies and a national trade association supported their findings.
Organizational changes to use the results of the SWOT analysis are in development.
A third study assessing business conditions, physical infrastructure, information
technology infrastructure, financial institution and government support were utilized
SWOT analysis for offshore outsourcing in India (Nair and Prasad, 2004). Salman
(2009) studied Bangladeshs economy using SWOT analysis. Without a successful
model in Southeast Asia to follow, he suggested that remittance inflow would act as

Exploring
SWOT analysis

227

JSMA
3,3

228

lifeblood for their economy. Lin and Lin (2008) researched capitalism in China. An
externally-focused SWOT analysis was conducted to provide American firms with
future opportunities and threats of doing business in China. They found that many
times, governments are at the forefront of long range planning and implementation
seems too long. Turkey implemented SWOT analysis as part of their action plan for
implementing e-government (Kahraman et al., 2007). The strategies have been
developed as a result of the analysis combined with analytic hierarchy process.
Similarly, Australia used SWOT analysis to evaluate the efficacy of boards as key
agents of regional planning and implementation of water quality (Robins and Dovers,
2007). Suggestions were to streamline program administration, introduce greater
clarity and consistency in bilateral agreements, moderate regional responsibilities,
enable regional flexibility, support effective capacity building measures, and ensure
consistent resourcing
Dincer et al. (2006) reported findings from strategic planning practices of 135 large
Turkish firms. Comparison of foreign-owned firms and local firms indicates
foreign-owned firms adopt a broader and deeper repertoire of tools and techniques
for planning and believe the strategy process is more deliberate. The development of
rapid prototyping and the research and development effort in South Africa was
examined through use of the SWOT analysis (Campbell and de Beer, 2005). The
analysis found governmental support could enhance the growth of rapid prototyping.
Yu and Huimin (2005) reported the hotel industry in China is experiencing fundamental
reform in structure and development. A SWOT analysis was completed with positive
results for successful growth reported.
Academe also uses the SWOT in many sectors. One study reported a home
economics Masters degree programs in Finland (Turkki, 2005). In general, Turkki
(2005) found students have a very realistic and positive view of their studies.
Ishino and Kijima (2005) used project management methodology for stimulating
strategic communication in Japan. The systems-based methodology used soft systems
methodology for strategy communication (SSM-SC) and used SSM as well as SWOT
and Business Score Card maps for integrating thoughts and language of participants.
Helms (2003) looked at the SWOT as a tool for entrepreneurial growth in Japan with
suggestions and needed changes. Factors to consider included regional infrastructure,
local skill levels, and cost-based factors. SWOT analysis of software enterprises in
Austria were the basis for Benroiders (2002) study. Results showed differences in
perceived success factors between micro, small-to-medium, and large software
enterprises.
Anttonen et al. (2005) studied franchising in Russia and suggestions included
providing loans for small businesses, educating the public, and encouraging the
establishment of a local franchising community. Lin et al. (2004) explored segmentation
in Internet marketing in Taiwan. Interviews of 137 professionals from nine enterprises
formed the basis of the SWOT analysis. Six critical success factors were identified and
disseminated to Internet market segmentation projects.
Molnar (2003) credited quality as the reason for Hungarys recent economic success.
Four companies were analyzed using the SWOT analysis for both performance and
leadership to support their contention. Finally, Helms (1999) used SWOT analysis in
her study of China to provide guidance for new venture creation.

Two or more countries

Paired comparisons. Palacios and Galvan (2006) used SWOT in their research on
applying an intellectual capital model from six cities in Spain and Portugal. One main
finding concerns the use of key organizations and use of formulas to increase
cooperation.
Results of an empirical study from 132 Canadian small to mid-size enterprises
(SMEs) and 141 American SMEs in the aerospace industry showed interesting
differences (Prefontaine and Bourgault, 2002). Canadian managers were more likely
prone to react to external opportunities, whereas American counterparts were more
defensive and primarily adjusted their export behavior to perceived weaknesses and
threats. Globally, strategic analysis has a greater impact on export behavior in Canada
than in the US study found.
Multi-countries. Kong (2008) reported little research had been done for strategic
management concepts in the non-profit sector. His study argues the intellectual capital
can best be used in the non-profit sector along with SWOT, the resource-based view
and core competency, the knowledge-based view, and the balanced scorecard. Sodhi
and Tang (2008) used SWOT analysis for OR/MS ecosystem and one way of bring
research, teaching, and practice together.
One of the biggest challenges of industrialized nations entering the Chinese market
is protecting intellectual property (Kumar and Ellingson, 2007). Using a SWOT
analysis, a comparison of US and Japanese intellectual properties found each use
distinctive approaches for protection.
SWOT as a tool
Given the pervasiveness of the use of the SWOT methodology by practitioners and
academicians alike, it was not surprising a number of research studies focused on
SWOT as a tool for strategic analysis. Grant (2008) suggests to developing managers
with the knowledge and insight needed to make sound strategic decisions and guide
the development of their organizations is best served by strategy teaching that is
rooted in theory. He critics the use of folk wisdom (i.e. according to Warren Buffet) or
use of the SWOT analysis which he labels as atheoretic. However, Coman and Ronen
(2009) agree that despite its problems, SWOT remains a major strategic tool and agrees
a focused SWOT methodology can then distill strengths and weaknesses into core
competences and core problems, by using a core-competence tree and the
current-reality tree. The core competences and core problems are then linked into a
plan of action aimed at preserving and leveraging the organizations core competences,
while defending against exposure to core problems.
Marques (2009) used SWOT analysis as a methodological tool to examine the
concept of political correctness, an important factor in determining the success of an
individual or group. Evans and Wright (2009) agree SWOT analysis remains one of the
most useful elements of the strategic planning process and that is provides a clear
summary statement of an organizations strategic position applied from the corporate
and functional, down to a personal level but they stress it should be combined with
other tools like Porters 5-Forces analysis and not used in isolation. Lin et al. (2008)
presented a group decision support system for facilitating the process of core
knowledge selection which uses the characteristics of certain existing analytical and
mathematical methods, including knowledge-based SWOT analysis, knowledge audit

Exploring
SWOT analysis

229

JSMA
3,3

230

instruments, gap analysis, synergy analysis, similarity measures, multi-objective

linear programming, and fuzzy programming.
Zenobia et al. (2009) used SWOT in their positioning applications and agent-based
social simulations and found the application useful for forecasting future market
behavior. Mulcaster (2009) after experiencing dissatisfaction with Michael Porters
models and SWOT analysis explored other frameworks for strategic decision making,
including studying opposing forces.
Ho (2008) in his literature review of integrated analytic hierarchy processes
supported use of analysis tools including SWOT as well as mathematical
programming, quality function deployment, meta-heuristics, and data envelopment
analysis. Mayer and Vambery (2008) worked to align SWOT with product life cycle
analysis with the demands of a global, Internet speed business environment and
reengineer the model by adding change as a new dimension. The occupational health
field was the focus of SWOT analysis (Occupational Health, 2008). Mishra et al. (2008)
assessed total productive maintenance frameworks via SWOT analysis.
In addressing issue management, before it becomes a threat, Oliver and Donnelly
(2007) reviewed the proper blend of tools and approaches and found Strategic Issue
Management Systems along with issue characterization, strategic objectives, force
field analysis, stakeholder assessment, scenario mapping, key player assessment and
SWOT Analysis should be used in combination and build on each other to resolve the
issue. Zarkos et al. (2007) incorporated existing strategic tools that are widely used by
managers, like SWOT, with the real options to produce more flexible strategic plans.
Reid et al. (2007) in their work on cluster-based economic development strategies
around the world profile the steps in forming a cluster and include SWOT analysis as
part of the process. Gunn and Williams (2007) agree the ubiquitous SWOT analysis is
at the core of strategic planning as a tool and framework in industry but have been
dismissed in much contemporary, particularly European practice-based, strategic
literature. However, they argues that the use of strategic tools has a place in
contemporary strategic management but stress the groupings of strategic tool usage
can be identified which might indicate that business and business schools should
reconsider how they apply, learn and disseminate strategic framework.
Sherman et al. (2007) add steps to the beginning of SWOT analysis and developed a
seven-step procedure, with templates that assist planners and managers in creating a
strategic profile of the firm in a pre-planning stage to the typical strategic management
process of a firm which will produce a more accurate SWOT analysis with a greater
likelihood of successful strategy implementation. Lu et al. (2007) critique measurement
methods applied to business performance management agree performance measures
are gathered in what has become popularly known as Data Envelopment Analysis,
Analytic Hierarchy Process, SWOT Analysis, and Delphi method. Chang (2006)
applied the SWOT framework to summarize information on open access publishing
models and combined it with the multiple case study approach and found the results
could enhance understanding of the open-access publishing model.
Nickols and Ledgerwood (2006) defend the Goals Grid as a strategic planning tool
and an alternative to a conventional SWOT analysis and reviews the four basic
categories of goals making up the Goals Grid which are:
(1) achieve;
(2) preserve;

(3) avoid; and

(4) eliminate.
Domeisen and de Sousa (2006) used SWOT framework in their classification of three
non-governmental organizations (NGOs) as trade partners (including grass-roots local
NGOs, international NGOs, and business-interest NGOs. Christian and Flamant (2005)
studied speeches within an enterprise using computer aided narration and suggest the
methods can be associated with actors play analysis, script planning, balanced score
card, and SWOT analysis.
Egan and Lancaster (2005) studied assumptions, approaches, and implications of
appreciative inquiry (AI) and action research (AR) for organization development (OD)
and used SWOT analysis to outlined AI and AR as intervention approaches.
Morris (2005) found the ways opportunities are defined in SWOT analysis may
result in confusion and stymie its application. He suggests that threats to a business
are often called opportunities, as are setbacks and catastrophes, but these are really
problems, not opportunities. An opportunity is a favorable solution to a problem, not
the problem itself. He suggests this is why employees have difficulty recognizing new
opportunities and presents a new model for understanding when a circumstance
constitutes an opportunity that defines an opportunity as a sought-after business edge.
Panagiotou (2003) agree there is a proliferation of strategic planning tools to enable
managers to formulate competitive strategies in line with the requirements of their
business environments and further asserts SWOT analysis may be used more than any
other management technique in the process of decision making. Yet he critiques the
tools vagueness and over-simplified process and supports use of the Telescopic
Observations framework, developed in mid-1999, as a more structured framework
based on its more systematic and coherent organizational environmental appraisal. In
a follow-up study Panagiotou and van Wijnen (2005) suggest the telescopic
observations strategic framework as a radical alternative to SWOT analysis. It
re-focuses SWOT in a way to enhance intelligence gathering and improve strategic
marketing planning in practice. Users commit to a dynamic, structured program of
continuous situational monitoring, organizational learning, and strategy
reformulation, at regular intervals and the framework is used both as a performance
measurement instrument and a control instrument. This paper offers an original
proposal for general and specific marketing strategy formulation to practicing
intelligence gatherers and planners and their academic advisors.
Grover et al. (2005) developed a mathematical model for measuring the performance
of human resources using a graph theoretic approach. The method considers all the
factors and the interactions among them to represent a total contribution of human
resources in an organization in a single index. The authors suggest the methodology is
useful to improve, compare and rank organizations on their total quality management
culture and useful for HRD departments in their SWOT analysis of human resources.
Marti (2004) developed a strategic knowledge benchmarking system, which refines
SWOT analysis and includes a firms the resource-based and activity-based view,
sustainable competitive advantages and core knowledge. Marti (2004) has piloted in
more than 40 small and medium size European enterprises. Grandy and Mills (2004)
agree value chain analysis and SWOT are at the core of strategic management and are
models for linking to an organizations worldview. The authors agree the simple model

Exploring
SWOT analysis

231

JSMA
3,3

232

accounts in large part for the apparent popularity in its ability to model strategic
management as complex interrelationships.
Ip and Koo (2004) developed a hybrid of the balanced scorecard, SWOT analysis
and quality function deployment to create a pragmatic approach for managerial and
consultant practitioners to translate vague strategy into action. They further
incorporate Sun Tzus Art of War to their structured strategic formulation framework
and apply it to the case study of a Hong-Kong based professional institute.
Novicevic et al. (2004) agree there are problems with the SWOT framework in that it
offers incomplete answers to both researchers and practitioners of marketing strategy
unless front end planning (i.e. intelligence for market targeting) and back end planning
(i.e. integration across marketing functions) are included and they propose a new
dual-perspective SWOT framework. Jackson et al. (2003) used SWOT analysis to
analyze 63 studies published between 1997 and 2002 on the effects of workplace
diversity on teams and organizations Lindborg (2003) describes prairie dog
organizations that are so good at identifying threats in good times in bad that they
neglect building additional capabilities and recommends SWOT as an effective
responses to dealing with threat along with embracing change and developing skills in
scenario planning.
Savickas (2003) to mark the 90th anniversary of the National Career Development
Association and to anticipate its 100th, devoted a special issue of The Career
Development Quarterly journal to nine analyses of the career counseling professions
strengths, weaknesses, opportunities, and threats. Using SWOT as the basis of
analyses, each of the articles presented objectives and strategies for advancing the
profession in the next decade.
Lippitt (2003) states that a critical and comprehensive analysis must go beyond
traditional SWOT analysis to include six priorities for generating balanced decisions:
(1) managing risk and building a communication plan which include keeping
products/services up-to-date and/or being state-of-the-art;
(2) gaining and maintaining market share and/or serving customers;
(3) minimizing confusion by building an infrastructure and systems to establish
and sustain high performance;
(4) improving processes and procedures for efficiency;
(5) quality and return, developing committed and competent workforce and/or
building a supportive environment and identity; and
(6) positioning for the long-term by identifying trends, assumptions and issues that
offer opportunities or potential threats.
Kasturi and Gransberg (2002) agree SWOT analysis, along with activity logs, strategic
planning and communications, and construction scheduling/network programming, is
an important and significant tool in the building industry. Li et al. (2002) suggest a
hybrid approach for integrating group Delphi, fuzzy logic and expert systems for
developing marketing strategies and agree the approach should be used to aid
managers in SWOT analysis and the authors have validated their hybrid approach
with masters level marketing students.
Martin (2002) studied the relationship between the research on TQM models and the
practical delivery of TQM models into senior government/businesses managers who

are struggling to take advantage of the global economy to increase Welsh GDP
through the upskilling of senior managers. Martin (2002) found in the case of
e-business, the traditional models of SWOT only on local political issues and are
should be expanded to develop senior management strategy. Dickson (2002) agrees the
traditional SWOT analysis can be reconceptualized in terms of the direction and
momentum where the market can still be changed and can be a more useful marketing
tool. Valentin (2001) critiques SWOT analysis and suggests the procedural guidelines
for using the methodology consist largely of catchall questions devoid of explicit
theoretical underpinnings. Thus, the analysis often produces shallow, misleading
results. He supports the use of contemporary strategic management theory, especially
the resource-based view of the firm. Koufopoulos and Chryssochoidis (2000) use SWOT
analysis to examine the strategic planning activities of companies operating in high
uncertainty country environments and combine the methodology financial analysis
and contingency planning techniques.
Hackbarth and Kettinger (2000) used SWOT analysis to assist managers in
transforming their organizations into e-businesses. They used SWOT because tool is
familiar yet targeted to this fast-changing environment. Brewer et al. (2000) used a
variety of tools to provide an approach for continuous improvement for colleges of
business. They suggest tools and techniques including the strategic management
process model, McKinseys 7-S Framework, SWOT analysis, groupware software,
Porters Five-Forces Model, and planning/sequencing models are most effective. Oliver
(2000) agrees SWOT is popular and further states it is an excellent strategic
management tool and has been used effectively with senior management planning
particularly for reaching substantive discussions that would not come up in the normal
course of a business struggling with short-term issues.
Lee and Ko (2000) suggested joining the SWOT matrix with the balanced scorecard
makes a systematic and holistic strategic management system and agrees the SWOT
analysis is a more structural approach in setting up the foundation of the balanced
scorecard; instead of simply identifying the key performance indicators via gut feeling
or by brainstorming. Houben et al. (1999) feel that despite the importance of SWOT
analysis, many companies often only have vague ideas of their competitive strengths
and weaknesses, opportunities and threats. They suggest the development of a
knowledge-based system to assist managers of small and medium sized companies in
performing a SWOT-analysis and they concentrate only on the identification of
internal strengths and weaknesses.
Fahy and Smithee (1999) suggest the resource-based view of the firm helps to
overcome some of the frequently cited problems of the SWOT framework and contends
that understanding a firms resource-base is central to effective positioning. Bailey
(1999) agrees in business and marketing it is quite normal to carry out SWOT analyses
to fully appraise any business situation. Sodhi and Tang (2008) studied the operations
research and management science (OR/MS) ecosystem which comprises researchers,
educators, and practitioners in its core along with end users, universities, and funding
agencies. To understand the reasons for the disengagement in the areas, the team used
SWOT analysis.

Exploring
SWOT analysis

233

JSMA
3,3

234

SWOT in teaching cases

Numerous teaching cases published in various academic teaching journals direct
students and other analysts to utilize the SWOT analysis framework to initially profile
the organizations presented as develop new strategic alternatives. For example, Sale
(2007) case on the Fleming-Mason Energy electric cooperative asked students to use
SWOT to examine the costs of providing unbundled individual services due to
competition brought about by deregulation. Xie and Lin (2008) case on Blockbuster, the
global entertainment provider of in-home movie and game, recommended using SWOT
analysis to identify the gaps between current situation and the vision and mission.
Stotler (2008) in his case on Strayer Education, Incorporated, students were asked to
assess the competitive environment using SWOT along with the DuPont identity and
Porters five force model of competitive strategy.
Raus (2007) research focused on the evolution of the web portal business in
Germany based on a case study of an Internet company and to identify and assess
strategies to transform an Internet portal. Students are asked to methodologies of
strategic analysis, including SWOT analysis, to analyze the case and identify best
practice examples for successful entrepreneurship in the Internet world.
Elrods (2008) case on Pearl Beer asks students to use SWOT to prepare an analysis
of what is going wrong at the company and to suggest solutions while Cobb et al.
(2006) ask students to discuss the critical strategic issues from the merger in their case
on America West and US Airways. Don et al. (2005) ask students to examine the
evolution of native corporations under the Alaska Native Claims Settlement Act of
1971 and some of the challenges facing native corporations and use SWOT to develop a
strategy for a small native village corporation on Nunivak Island. Holman and
Hinthornes (2004) case on US Cattle Producer and Box and Saxtons (2004) case on
JetBlue airline asked students to use SWOT.
Discussion and conclusion
Vague and simplistic
The SWOT framework, with its vagueness, oversimplified methodology and
numerous limitations (Panagiotou, 2003) is a victim of its own success (Pickton and
Wright, 1998). Given the age of the model and the myriad of changes in strategic
management, the model may not match todays complex market-led economies
(Haberberg, 2000; Hill and Westbrook, 1997; Warren, 2002). The notion of SWOT is
somewhat elusive and, according to Pickton and Wright (1998), produces a superficial
listing output that makes it dangerously simplistic in its structure. Kay (1993, 1999)
agrees and further states that SWOT is simply a list. Haberberg (2000) concurs and
explains SWOT analysis does not provide a sufficient context for adequate strategy
optimization and states the simplicity leads managers to use it incorrectly, producing
short lists of non-prioritized, generalized bullet points.
However, analysts most often resort to SWOT analysis as the preferred tool to kick
start the strategy planning process (Warren, 2002). Proponents of SWOT (Baker,
2000; Piercy, 2002; Piercy and Giles, 1989) dismiss claims that the model is too
simplistic. Baker (2000) agrees organizations can benefit for the diagnostic power of
SWOT if they use a focused methodology and evaluate issues from the customers
perspective. The industrys key factors for success (KFS) provide the context for the
customer and competitive perspectives (Panagiotou, 2004). Hamel and Prahalad (1993,

1994) articulate that the fit of competitive strategies can only be evaluated against
such industry benchmarks because they indicate organizational capabilities and
overall effectiveness in the marketplace.
Gunn and Williams (2007) argue the use of strategic tools like SWOT analysis have
a place in contemporary strategic management. Sherman et al. (2007) found a
pre-planning profile of the firm prior to conduct a SWOT analysis is best. Their profile
and templates produce a more accurate SWOT analysis with a greater likelihood of
successful strategy implementation.
Thoroughness of brainstorming and expertise of brainstorming team
With all its uses and advantages to planners and strategists, the success of SWOT
analysis depends on the thoroughness of the internal and external analysis which is a
function of time devoted to the task, the number of experts involved, and the level of
expert consensus without a list of questions for brainstorming, managers may leave
out key variables. It may also not include personal experiences, beliefs, skills, or
attitudes of top management and others that may impact the SWOT analysis.
SWOT lacks a hierarchy between the elements and some of the recent research has
attempted to overcome this limitation. The framework does simplify a complex
internal and external environment into a shorter list of more manageable issues. Yet
the reduction does require human judgement which may vary (see Holweg and van
Donk, 2009 for a discussion of conceptual frameworks) and may not be comprehensive
or parsimonious.
The quantity and timeliness of information used in preparing the SWOT analysis is
important as is the variety and dependability of the various perspectives involved.
These experts must also be involved in assessing the reliability of the data as they
interpret the information provided. Adequate benchmarking of competitors and the
industry are also keys for a strong external analysis. Vetting and subjecting the
findings to additional due diligence is needed to ensure the information and the
interpretation of the SWOT evidence is clear and appropriate. These processes can
help reduce some of the subjective nature of SWOT analysis.
Issues in categorizing of variables
In addition, categorization of variables into one of the four SWOT quadrants is also
challenging. Strengths that are not maintained may become weaknesses. Opportunities
not taken, but adopted by competitors, may become threats. The classification of a
variable also depends on the purpose of the exercise. Criteria to assign a variable to one
of the four quadrants may be more difficult to clarify if the methodology is not used for
a company but for a country, for example.
In research focused on SWOT analysis of a country, and not an individual company,
classification of variables is different. Macro-environmental forces that would be an
external threat or opportunity for a company are components that would exist within a
country and are thus classified as internal strengths and weaknesses. It is also
difficulty to categorize issues and some managers may reverse opportunities and
strengths as well as threats and weaknesses. The differences between internal and
external issues may be difficult to spot. Also threats that are acted upon quickly and
effectively may be rally opportunities. Emerging technologies too have often not yet
proved themselves as strength or a weakness.

Exploring
SWOT analysis

235

JSMA
3,3

236

Classification challenges
Mulcaster (2009) agrees there is dissatisfaction with existing approaches to strategic
management, e.g. Michael Porters models and SWOT analysis, which has led
researchers to seek alternative models. However, he agrees these frameworks have
indeed been found to be useful in surfacing issues managers must address when
making strategic decisions. Morris (2005) agrees there is confusing in classifying
issues. For example, he states that often threats to a business can be called
opportunities but setbacks and catastrophes are real problems and cannot be
classified as opportunities.
Morris (2005) feels an opportunity is a favorable solution to a problem, not the
problem itself and presents a model for understanding when a circumstance
constitutes an opportunity that improves SWOT analysis. Morris (2005, p. 54) states
another problem with SWOT analysis is its circularity. He asks:
How do we know what strengths an organization has? We are told its strengths are what
allow it to capitalize on certain opportunities. And how do we recognize these opportunities?
By reflecting on the organizations strengths, is the response. Strengths are thus seen as
characteristics that allow an organization to take advantage of opportunities. This is a
circular thought process causing the organizations compass needle to spin aimlessly.

No strategic direction provided

While SWOT is useful to profile and enumerate issues, it does not provide actual
strategies to implement to take advantage of opportunities while leveraging strengths.
Often too the simple list of words or bullet points without more detail may be difficult
to interpret. The terse format of the SWOT tool may be an oversimplification of a
business situation that is more complex. SWOT too does not represent the complete
analysis so it may lead to inaccurate results. SWOT is a moving target given the
dynamic nature of strategy and this may be only a situational analysis without a
diagnostic capacity.
SWOT analysis is the traditional means of searching for insights into ways of
realizing the desired alignment (e.g. Ansoff, 1965; Andrews, 1987; Porter, 1991;
Mintzberg et al., 1998). Valentin (2001) feels SWOT checklists prompt analysts to jump
haphazardly from one issue to another and do not specify how listed issues are to be
examined. Thus, traditional SWOT analyses often yield only shallow extemporaneous
inventories that may detract from critical issues, themes, and thrusts as often as they
illuminate them (Hill and Westbrook, 1997; McDonald, 1999).
Hill and Westbrook (1997) go so far as to stress SWOT be discontinued since it
produces a fairly indiscriminate list of variables. Valentin (2001) feels SWOTs
procedural guidelines consist largely of catchall questions devoid of explicit theoretical
underpinnings. Too often, they produce shallow misleading results and Valentin (2001)
agrees more penetrating strategic insights can be gained by following SWOT analysis
guidelines derived from contemporary strategic management theory, especially the
resource-based view of the firm.
Resource based SWOT
Resource-based SWOT analysis alleviates shortcomings of traditional SWOT analysis
not by eliminating checklists, but by focusing on systemic causal issues that afford
more perceptive, reliable, and actionable insights. It is grounded in contemporary

strategic management and marketing theory, especially the resource-based view of the
firm (e.g. Wernerfelt, 1984; Conner, 1991; Peteraf, 1993; Hunt, 2000). However, it also
draws from two complementary frameworks, Porters (1980) well-known competitive
forces paradigm and Brandenburger and Nalebuffs (1995, 1996) value net. Fahy and
Smithee (1999) stress the resource-based view of the firm provides a conceptually
grounded framework for assessing strengths and weaknesses.
A resource-based SWOT analysis undertakes categorizing particulars as SWOTs
only after the focal business defensive and offensive contexts have been scrutinized
carefully. Fahy and Smithee (1999) agree the resource-based view of the firm helps to
overcome some of the frequently cited problems of the SWOT framework. They point
to numerous reservations on the efficacy of the SWOT framework including Stevenson
(1976) who found top managers emphasize financial strengths while middle and lower
managers tend to focus on technical issues and that top managers perceived more
strengths suggesting a high potential for differences related to the level of management
conducing the analysis. A study of European managers by Schneider and De Meyer
(1991) found that perceptions could also be influenced by culture.
Need for quantification no methodology for weighting, ranking, or prioritizing
variables
Without ranking or weighting of the SWOT variables, planners and entrepreneurs
may assume each of the variables influencing new venture creation are equal in their
scope and importance. Kangas et al. (2003) agree SWOT provides the basic framework
to perform analyses of decisions situations, they recommend adding Multiple Criteria
Decision Support (MCDS) methods along with SWOT to determine analytical priorities
for the identified factors. Using a case study, they illustrate using MCDS for
prioritizing information from the SWOT analysis and ranking various proposed
strategic recommendations. In an earlier study Winer (1983) suggested Multi-Strategic
Planning (MSP) should follow SWOT analysis and objectives should be ranked by
logical reasoning, rather than subjective priority setting. In MSP a long list of possible
strategies is developed and matched with objectives and results from SWOT analysis
to result in a hierarchy of selected strategies. While ranking variables seems an
appropriate next step, there is a dearth of studies suggesting methodologies for
prioritizing variables derived from SWOT analysis.
Hai and Tsou (2009) suggest the use of a quantifiable SWOT method which adopts
the concept of Multiple-Criteria Decision Making (MCDM) or a multi-hierarchy scheme
to simplify complicated problems. The indices of SWOT are voted on and weighted to
assess the competitive strategy and the total weighted scores method is then used to
identify the best strategic alternatives.
Alternatives and improvements to SWOT
Drago and Folker (1999) criticize SWOT for different reasons. Their concern is that
SWOT and similar planning tools place too much emphasis on exploiting strengths
and developing competencies at the detriment of examining the link between
incompetency and performance. Haberberg (2000) and Warren (2002) argue that users,
in general, are becoming increasingly dissatisfied with the poor results of SWOT
analysis. Hussey et all. (1997) observes that a number of scholars have proposed
alternative methodologies to focus SWOT and enrich the planning process. He adds

Exploring
SWOT analysis

237

JSMA
3,3

238

that one such alternative is WOTSUP, where UP stands for Underlying Planning and
another is SOFT, where weaknesses have been re-identified as Faults. Some have
combined available techniques such as Kaplan and Nortons Balanced Score Card with
SWOT (Lee and Ko, 2000). Others have conducted cross impact analysis with SWOT
(Proctor, 2002) or taken into consideration Porters 5-Forces Model to formulate
SWOT-based strategies (Ruocco and Proctor, 1994).
Weihrich (1982) has attempted to redesign the SWOT in a different manner in order
to generate strategies based on the relationship between internal and external
environmental factors and has consequently devised the TOWS Strategic Matrix.
Barney (1995, 1997) moved away from the traditional SWOT variables and emphasized
the resource-based approach to organizational analysis. His VRIO framework prompts
the user to identify organizational key resources in terms of value, rareness,
immutability, and organizational characteristics in order to recognize relative
organizational competitive advantages and barriers to imitation. Yet many of the
proposed SWOT alternatives are again lists of issues or grids with other key terms.
Nickols and Ledgerwood (2006) proposed the Goals Grid as an alternative to a
conventional SWOT analysis. This 2 2 grid has four categories:
(1) achieve;
(2) preserve;
(3) avoid; and
(4) eliminate.
The authors found success with the grid in planning workshops and the visible format
followed a logical thought progression for goal development as well as
decision-making.
Panagiotou and van Wijnen (2005) proposed a radical alternative to SWOT analysis
in their composite telescopic observations strategic framework. Shinno et al. (2006)
grouped SWOT analysis with an Analytic Hierarchy Process (AHP) which ranked and
prioritized each element using software. Shinno et al. (2006) do not really deal with the
obvious limitations of SWOT (see our SWOT lesson for a refresher). A refocusing of
SWOT was offered by Panagiotou (2003). He introduces a telescopic observations
strategic framework which in effect maps strengths, weaknesses, opportunities and
threats against his suggested acronym telescopic observations. So, for example
T technological advancements, E economic considerations, L legal and
regulatory requirements, etc. The most useful aspect of Panagiotous article is that
not only does he recognize the difficulty in finding the origins of SWOT, but he also
manages to unearth some interesting alternatives.
Need to use additional tools of analysis combinations with other strategic tools and
models
As previously seen in the profile of SWOT studies as a research tool, many researchers
suggest the need to use additional tools and analysis instead of SWOT or in concert
with SWOT. Porters (1980) 5-Forces Analysis moves beyond the internal analysis to
focus on the organizations external environment including the five competitive forces
external to the organization. The 5-Forces analysis is applied more specifically to an
organizations competitive environment.

Porters Diamond analysis is also useful to shape strategy to reflect national

strengths and weaknesses. Other substitute or complimentary analysis include
scenario analysis for exploring different futures, McKinseys 7S Framework to ensure
all part of the internal organization work in harmony, Porters generic strategies for the
best choice for competitive advantage, and benchmarking to compare performance
against external competitors or industry leaders.
McGrail and Roberts (2005) in their study of the broadband cable TV industry used
a number of models and techniques to organize the qualitative data and report the
SWOT technique proved useful in analyzing the organizational environment; value
chain analysis was used to understand the value generating components of the core
activities; a Boston Consulting Group product portfolio matrix identified the nature of
the products offered by the industry. Their research also utilized Porters (1980)
5-Forces model for industry competition and the works on strategy of Hamel and
Prahalad (1994) and of Johnson and Scholes (2002). McGrail and Roberts (2005) agree,
as emphasized by Cornford and Smithson (1996), there can be considerable difficulties
with the interpretation of qualitative data in a scientific way. These difficulties can
include that of generalization and the problem of the openness of the data to a variety
of interpretations but found the various techniques helpful to better understand the
cable TV industry dynamics.
Oliver and Donnelly (2007) studied tools to develop an approach to address issues
that are imminently facing a firm and feel a proper balance between process,
interpretation and creativity is important for Strategic Issue Management Systems
(SIMS). Their key components of SIMS included: issue characterization, strategic
objectives, force field analysis, stakeholder assessment, scenario mapping, key player
assessment and SWOT Analysis. Each component together built upon the others
produced an obtainable strategic objective and targeted tactical plan.
Bernroider (2002) studied firms of various sizes in Austria and found differences in
SWOT analysis factors between micro, small-to-medium and large software
enterprises. They found, in general, almost every identified discriminating
endogenous success factor is viewed more negatively by managers of micro
enterprises compared to larger firms. Lee and Ko (2000) suggest conjoining the SWOT
matrix with the balanced scorecard (BSC) makes a systematic and holistic strategic
management system and is better than merely identifying key performance indicators
by brainstorming. The authors then suggest using the quality function deployment
(QFD) methodology with the balanced scorecards qualitative and quantitative
attributes (see Kaplan and Norton, 1996; Sanger, 1998) for improved strategic planning.
Lee et al. (2000) proposed a strategy formulation framework that conjoins the SWOT
matrix with the balanced scorecard to identify critical successful strategic perspectives
prior to using the Malcolm Baldrige National Quality Award criteria and quality
function deployment.
Areas for future research
With all the weaknesses above, the biggest weakness of SWOT analysis is that it
remains atheoretic without the necessary theoretical support to validate the popular
construct. This may be partly due to the fact that SWOT analysis is a snapshot of a
point in time. Because the environment is constantly changing and new strategies also
change internal strengths and weaknesses, environmental scanning is needed on a

Exploring
SWOT analysis

239

JSMA
3,3

240

regular basis to update the SWOT analysis. Research is needed on ways to improve the
classifications of factors into the four SWOT categories.
While awareness of the factors is often more important than their classification
(opportunities not taken, for example, can become threats), future research should
focus on development of a strategic plan from SWOT analysis. Linking SWOT
analysis with other primary and secondary research methods including desk research,
literature review, expert interviews and workshops, scenario planning, and needs
analysis should also be considered.
The future of SWOT analysis seems to lie in ordering the variables and moving
toward weighting them will help add focus for decision makers. With ranked variables,
prioritization of strategies will be improved and ways to close the key gaps internally
and externally can be addressed. Continuation of the SWOT analysis over time can lead
to additional knowledge of the country and improve strategic positioning and leverage.
This exploratory works represents an initial profile of the use of SWOT analysis in
academic research. Research is also suggested to extend the SWOT analysis
methodology. Building on the work of Kangas et al. (2003), work to prioritize and rank
SWOT variables and the strategic recommendations that result from the analysis is
another avenue of research and is particularly needed as SWOT continues to expand in
usage beyond individual businesses to countries, regions, and trading blocs. Winer
(1983) also recommended MSP or Multi-Strategic Planning to create new strategies
derived from SWOT analysis by ranking the variables by logical reasoning versus the
traditional subjective priority setting.
Another limitation of SWOT analysis is the tautology critique. SWOT analysis is
based on ideas, expertise, and assertions of experts. The resulting SWOT table or 2 x 2
grid is not subjected to empirical tests. This is true of many strategic management
theories. Barney (2001) cites Porters (1980) relationship between industry
attractiveness and firm performance. This tautology is simply by observing firms in
attractive industries one finds they outperform firms in unattractive industries. Thus,
industry attractiveness is defined as a tautology of the ability of firms to have higher
performance. SWOT is much the same in that taking advantage of identified
opportunities using a firms strength will lead to opportunities. The argument is
circular at best.
The most critical area for future research is that which will lead to theory building.
As this decade of literature using SWOT analysis has uncovered, SWOT has been used
primarily in strategic planning meetings and organizational-wide planning and
brainstorming in its infancy. The literature has advanced to validation of SWOT as an
often-used strategic planning tool and one that is assigned to business students in their
analysis of business cases. The tool, however, lacks quantifiable validation, which is
necessary for theory building.
A framework like SWOT analysis must be subjected to formal, empirical theory
testing. There is a tendency in other business fields, according to Schmenner (2009) to
draw up new theories without ever rejecting old ones. As a conceptual framework,
SWOT varies among the type of elements considered in each quadrant. It varies based
on the company or industry to which it is applied. The relationships also lack causality
and directionality, although it is assumed a firm will maximize its strengths while
working to overcome weaknesses and to capitalize on new opportunities while keeping
an eye on threats.

References
Ahmed, A.M., Zairi, M. and Almarri, K.S. (2006), SWOT analysis for Air China performance and
its experience with quality, Benchmarking, Vol. 13 Nos 1/2, pp. 160-73.

Exploring
SWOT analysis

Al-kaabi, H., Potter, A. and Naim, M. (2007), An outsourcing decision model for airlines MRO
activities, Journal of Quality in Maintenance Engineering, Vol. 13 No. 3, pp. 217-27.
Ames, M. and Runco, J.M. (2005), Predicting entrepreneurship from ideation and divergent
thinking, Creativity and Innovation Management, Vol. 14 No. 3, pp. 311-25.
Andrews, K.R. (1987), The Concept of Corporate Strategy, Irwin, Homewood, IL.
Ansoff, H.I. (1965), Corporate Strategy, McGraw-Hill, New York, NY.
Ansoff, H.I. (1987), Corporate Strategy, rev. ed., Penguin Books, New York, NY.
Anttonen, N., Tuunanen, M. and Alon, I. (2005), The international business environments of
franchising in Russia, Academy of Marketing Science Review, Vol. 5, pp. 1-12.
Baker, M.J. (2000), Marketing Strategy and Management, 3rd ed., Palgrave, New York, NY.
Bailey, D. (1999), Sitting next to Nellie the application of SWOT analysis to training
methods, Training and Management Development Methods, Vol. 13 No. 3, pp. 217-24.
Barney, J.B. (1995), Looking inside for competitive advantage, Academy of Management
Executive, Vol. 9 No. 4, pp. 49-61.
Barney, J.B. (1997), Gaining and Sustaining Competitive Advantage, Addison-Wesley, Reading,
MA.
Barney, J.B. (2001), Is the resource-based view a useful perspective for strategic management
research? Yes, Academy of Management Review, Vol. 26 No. 1, pp. 41-57.
Beneda, N. (2008), Wealth preservation through effective competitive strategy, Corporate
Finance Review, Vol. 13 No. 1, pp. 41-6.
Bernrioder, E. (2002), Factors in SWOT analysis applied to micro, small-to-medium, and large
software enterprises: an Austrian study, European Management Journal, Vol. 20 No. 5,
pp. 562-73.
Bielski, L. (2006), The SWOT for retail IT reveals the interconnections of technology, ABA
Banking Journal, Vol. 98 No. 11, pp. 27-34.
Blackman, C. and Forge, S. (2008), The future of universal service in Europe, The Journal of
Policy, Regulation and Strategy for Telecommunications, Information and Media, Vol. 10
Nos 5/6, pp. 152-65.
Blery, E. and Sfetsiou, E. (2008), Marketing olive oil in Greece, British Food Journal, Vol. 110
No. 11, pp. 1150-71.
Box, T.M. and Saxton, S.E. (2004), Jet blue: a new challenge, Journal of the International
Academy for Case Studies, Special Edition, Instructors Notes, Vol. 10 No. 2, pp. 45-50.
Bradley, D.B., Fryar, S. and Riper, D.V. (2003), Effects of the Hispanic population on Arkansas
small business, International Journal of Entrepreneurship, Vol. 7, pp. 87-113.
Brandenburger, A.M. and Nalebuff, B.J. (1995), The right game: use game theory to shape
strategy, Harvard Business Review, Vol. 73, July-August, pp. 57-71.
Brandenburger, A.M. and Nalebuff, B.J. (1996), Co-opetition, Currency, New York, NY.
Brewer, P.D., Brewer, V.L. and Hawksley, M. (2000), Strategic planning for continuous
improvement in a college of business, The Mid-Atlantic Journal of Business, Vol. 36 Nos
2/3, pp. 123-32.

241

JSMA
3,3

242

Campbell, R.I. and de Beer, D.J. (2005), Rapid prototyping in South Africa: past, present and
future, Rapid Prototyping Journal, Vol. 11 No. 4, pp. 260-5.
Chang, C.C. (2006), Business models for open access journals publishing, Online Information
Review, Vol. 30 No. 6, pp. 699-713.
Chang, L-C. and Lin, C-T. (2005), The exploratory study of competitive advantage of Hsin-Chu
City Government by using diamond theory, The Business Review, Vol. 3 No. 2, pp. 180-5.
Chen, C-H. and Shih, H-T. (2004), The impact of WTO accession on the Chinese garment
industry, Journal of Fashion Marketing and Management, Vol. 8 No. 2, pp. 221-9.
Christian, D. and Flamant, S. (2005), Narration strategique: autour dunje intervention de recit
assiste, Revue Francaise de Gestion, Vol. 31 No. 159, pp. 283-302.
Cobb, R., Gooding, C.W. and Parker, J.A. (2006), The proposed merger of America West and US
Airways: will it fly?, Journal of the International Academy for Case Studies, Vol. 12 No. 4,
pp. 59-63.
Coman, A. and Ronen, B. (2009), Focused SWOT: diagnosing critical strengths and
weaknesses, International Journal of Production Research, Vol. 47 No. 20, pp. 5677-89.
Communications of the Association for Information Systems (2007), Administrative placement
of information systems academic discipline: a comparative SWOT analysis,
Communications of the Association for Information Systems, Vol. 21, pp. 1-18.
Contino, D.S. (2001), Supply and demand: its your business, Nursing Management, Vol. 32
No. 12, pp. 20-41.
Conner, K.R. (1991), A historical comparison of resource-based theory and five schools of
thought within industrial organization economics: do we have a new theory of the firm?,
Journal of Management, Vol. 17, March, pp. 121-54.
Conway-Morana, P.L. (2009), Nursing strategy: whats your plan, Nursing Management, Vol. 40
No. 3, pp. 25-49.
Cornford, T. and Smithson, S. (1996), Project Research in Information Systems: A Students
Guide, Macmillan, Basingstoke.
Crow, S.M., Hartman, S.J., Mahesh, S., McLendon, C.L. and Henson, S.W. (2008), Strategic
analyses in nursing schools: attracting, educating, and graduating more nursing students:
part i strengths, weaknesses, opportunities, and threats analysis, The Health Care
Manager, Vol. 27 No. 33, pp. 234-47.
Dealtry, R. (1992), Dynamic SWOT Analysis, DSA Associates, Birmingham.
Denner, M. and Oosthuizen, H. (2008), The strategic positioning and configuration of national
mapping organizations as enablers of economic and social growth in South Africa, South
African Journal of Business Management, Vol. 39 No. 3, pp. 41-62.
Dey, P.K. and Hariharan, S. (2008), Managing healthcare quality using combined SWOT and the
analytic hierarchy process approach, International Journal of Healthcare Technology &
Management, Vol. 9 No. 4, pp. 392-409.
Dickson, P.R. (2002), Dynamic versus static SWOT analysis, American Marketing Association,
Conference Proceedings, Vol. 48 No. 2, pp. 257-79.
Dincer, O., Tatoglu, E. and Glasiter, K.W. (2006), The strategic planning process: evidence from
Turkish firms, Management Research News, Vol. 29 No. 4, pp. 206-19.
Dobrzynski, J.H. (2007), It is whats inside that dazzles, Wall Street Journal, June 7, p. D7.
Domeisen, N. and de Sousa, P. (2006), SWOT analysis: NGOs as partners, International Trade
Forum, Vol. 2 No. 7, pp. 1-19.

Don, W., Warbelow, A. and Landry, S.P. (2005), Nunivak Island Mekoryuk Alaska (NIMA)
corporation: an examination of a native village corporation strategy development, Journal
of International Academy for Case Studies, Vol. 11 No. 5, pp. 17-37.

Exploring
SWOT analysis

Drago, A.W. and Folker, A.K. (1999), Achilles revisited: the impact of incompetencies on firm
performance, Management Research News, Vol. 22 No. 8, pp. 18-25.
Duarte, C., Ettkin, L.P., Helms, M.M. and Anderson, M.S. (2006), The challenge of Venezuela: a
SWOT analysis, Competitiveness Review, Vol. 16 Nos 3/4, pp. 233-47.
Duarte, M.E., Paixao, M.P. and Lima, M.R. (2007), Perspectives on counseling psychology:
Portugal at a glance, Applied Psychology, Vol. 56 No. 1, pp. 119-31.
Dwivedi, P. and Alavalapati, J.R. (2009), Stakeholders perceptions on forest biomass-based
bioenergy development in the southern US, Energy Policy, Vol. 37 No. 5, pp. 1999-2018.
Dyson, R.G. (2004), Strategic development and SWOT analysis at the University of Warwick,
European Journal of Operational Research, Vol. 15 No. 3, pp. 631-40.
Egan, T.M. and Lancaster, C.M. (2005), Comparing Appreciative Inquiry to action research: OD
practitioner perspectives, Organization Development Journal, Vol. 23 No. 2, pp. 29-49.
Elrod, H. (2008), Pearl beer, Journal of the International Academy for Case Studies, Vol. 14 No. 2,
pp. 33-6.
Evans, C. and Wright, A. (2009), How to conduct a SWOT analysis, The British Journal of
Administrative Management, Vol. 24, pp. 10-34.
Fahy, J. and Smithee, A. (1999), Strategic marketing and the resource based view of the firm,
Academy of Marketing Science Review, Vol. 10, pp. 1-19.
Gable, G.G., Smyth, R.W., Lee, J-N. and Han, J. (2007), Administrative placement of information
systems academic discipline: a comparative SWOT analysis of Queensland University of
Technology and Korea University, Journal of Global Information Technology
Management, Vol. 10 No. 1, pp. 5-30.
Glaister, K.W. and Falshaw, J.R. (1999), Strategic planning still going strong, Long Range
Planning, Vol. 32 No. 1, pp. 107-16.
Grandy, G. and Mills, A.J. (2004), Strategy as Simulacra? A radical reflexive look at the
discipline and practice of strategy, The Journal of Management Studies, Vol. 41 No. 7,
pp. 1153-70.
Grant, R.M. (2008), Why strategy teaching should be theory based, Journal of Management
Inquiry, Vol. 17 No. 4, pp. 276-91.
Grover, S., Agrawal, V.P. and Khan, I.A. (2005), Human resource performance index in TQM
environment, International Journal of Management Practice, Vol. 1 No. 2, pp. 131-51.
Gunn, R. and Williams, W. (2007), Strategic tools: an empirical investigation into strategy in
practice in the UK, Strategic Change, Vol. 16 No. 5, pp. 201-21.
Haberberg, A. (2000), Swatting SWOT, Strategy, (Strategic Planning Society), September.
Hackbarth, G. and Kettinger, W.J. (2000), Building an e-business strategy, Information Systems
Management, Vol. 17 No. 3, pp. 78-93.
Hai, H-L. and Tsou, M-C. (2009), Strategic development for the department of information
management of Shih Chien University Kaohsiung campus in Taiwan by a quantifiable
SWOT analysis, Journal of Information & Optimization Sciences, Vol. 30 No. 1, pp. 87-99.
Hamel, G. and Prahalad, C.K. (1993), Strategy as stretch and leverage, Harvard Business
Review, March-April, pp. 75-84.

243

JSMA
3,3

Hamel, G. and Prahalad, C.K. (1994), Competing for the Future: Breakthrough Strategies for
Seizing Control of Your Industry and Creating the Markets of Tomorrow, Harvard
Business School Press, Boston, MA.
Helms, M.M. (1999), How to be successful in China: a SWOT analysis, Competitiveness Review,
Vol. 9 No. 2, pp. 1-10.

244

Helms, M.M. (2003), The challenges of entrepreneurship in a developed economy: the

problematic case of Japan, Journal of Developmental Entrepreneurship, Vol. 8 No. 3,
pp. 247-64.
Higginbottom, M.J. and Hurst, K. (2001), Quality assuring a therapy service, International
Journal of Health Care Quality, Vol. 14 Nos 4/5, pp. 149-56.
Hill, T. and Westbrook, R. (1997), SWOT analysis: its time for a product recall, Long Range
Planning, Vol. 30 No. 1, pp. 46-52.
Ho, W. (2008), Integrated analytic hierarchy process and its applications a literature review,
European Journal of Operational Research, Vol. 186 No. 1, pp. 211-31.
Hofer, C.W. and Schendel, D. (1978), Strategy Formulation: Analytical Concepts, West Publishing
Company, St. Paul, MN.
Holman, P. and Hinthorne, T. (2004), The US cattle producer: surviving in a buyers market,
Case Research Journal, Vol. 24 No. 2, pp. 44-59.
Holweg, M. and van Donk, D.P. (2009), When is a conceptual framework also a theoretical
contribution?, OSM Forum, 3-5 July.
Hou, Z-J. and Zhang, N. (2007), Counseling psychology in China, Applied Psychology, Vol. 56
No. 1, pp. 33-45.
Houben, G., Lenie, K. and Vanhoof, K. (1999), A knowledge-based SWOT-analysis system as an
instrument for strategic planning in small and medium sized enterprises, Decision
Support Systems, Vol. 26 No. 2, pp. 125-35.
Hunt, S.D. (2000), A General Theory of Competition, Sage, Thousand Oaks, CA.
Hussey, D.E. (1997), Glossary of techniques for strategic analysis, Strategic Change, Vol. 6,
pp. 97-115.
Ip, Y.K. and Koo, L.C. (2004), BSQ strategic formulation framework: a hybrid of balanced
scorecard, SWOT analysis, and quality function deployment, Managerial Auditing
Journal, Vol. 19 No. 4, pp. 533-43.
Ishino, Y. and Kijima, K. (2005), Project management methodology for stimulating strategic
communication in Japan, Systems Research and Behavioral Science, Vol. 22 No. 3,
pp. 209-21.
Jackson, S.E., Joshi, A. and Erhardt, N.L. (2003), Recent research on team and organizational
diversity: SWOT analysis and implications, Journal of Management, Vol. 29 No. 6,
pp. 801-30.
Jafari, H.J. and Baratimalayeri, A. (2008), The crisis of gasoline consumption in the Irans
transportation sector, Energy Policy, Vol. 36 No. 7, pp. 25-36.
Johnson, G. and Scholes, K. (2002), Exploring Corporate Strategy, 6th ed., Pearson Education,
Harlow.
Kahraman, C., Demirel, N.C. and Demirel, T. (2007), Prioritization of e-Government strategies
using a SWOT-AHP analysis: the case of Turkey, European Journal of Information
Systems, Vol. 16 No. 3, pp. 284-98.

Kangas, J., Kurttila, M., Kajanus, M. and Kangas, A. (2003), Evaluating the management
strategies of a forestland estate the S-O-S approach, Journal of Environmental
Management, Vol. 69 No. 4, pp. 349-59.
Kaplan, R.S. and Norton, D.P. (1996), The Balanced Scorecard: Translating Strategy into Action,
Harvard Business School Press, Cambridge, MA.
Kasturi, S.P. and Gransberg, D.D. (2002), Time management a design-build builders
perspective, Cost Engineering, Vol. 44 No. 9, pp. 16-23.
Kay, J. (1993), Foundations of Corporate Success, Oxford University Press, Oxford.
Kay, J. (1999), Strategy and the delusion of Grand Designs, Financial Times, Mastering
Strategy, Part One, 27 September.
King, R.K. (2004), Enhancing SWOT analysis using triz and the bipolar conflict graph: a case
study on the Microsoft Corporation, Proceedings of TRIZCON2004, 6th Annual Altshuller
Institute, April 25-27, Seattle, WA.
Ko, A.S.O. and Lee, S.F. (2000), Implementing the strategic formulation framework for the
banking industry of Hong Kong, Managerial Auditing Journal, Vol. 15 No. 9, pp. 469-77.
Koch, A.J. (2000), SWOT does not need to be recalled: it needs to be enhanced, available at:
www.westga.edu/,bquest/2001/swot2.htm (accessed 15 September, 2008).
Kong, E. (2008), The development of strategic management in the non-profit context: intellectual
capital in social service non-profit organizations, International Journal of Management
Review, Vol. 10 No. 3, pp. 281-99.
Koning, R.H. and van Velzen, B.V. (2009), Betting exchanges: the future of sports betting?,
International Journal of Sport Finance, Vol. 4 No. 1, pp. 42-63.
Kotler, P. (2000), Marketing Management, Prentice-Hall, Upper Saddle River, NJ.
Koufopoulos, D.N. and Chryssochoidis, G.M. (2000), The effects of an uncertain country
environment upon leadership and strategic planning practices, Strategic Change, Vol. 9
No. 6, pp. 379-98.
Kuiper, S. and Thomas, M.W. (2000), A strategic consultancy model for establishing a center for
business communication, Business Communication Quarterly, Vol. 63 No. 2, pp. 52-67.
Kumar, S. (2005), An explorative study of global cosmetic industry: major players, technology
and market trends, Technovation, Vol. 25 No. 11, pp. 1263-72.
Kumar, S. (2007), An explorative study of established software leaders and their key
outsourcing partners, International Journal of Business Performance Management, Vol. 9
No. 1, pp. 58-76.
Kumar, S. and Ellingson, J. (2007), Adaptive IP strategies in China: a tactical analysis, Journal
of Intellectual Capital, Vol. 8 No. 1, pp. 139-58.
Kumar, S., Massie, C. and Dumonceaux, M.D. (2006), Comparative innovative business
strategies of major players in cosmetic industry, Industrial Management Data Systems,
Vol. 106 No. 3, pp. 285-306.
Learned, E.P., Christiansen, C.R., Andrews, K. and Guth, W.D. (1969), Business Policy: Text and
Cases, Irwin, Homewood, IL.
Lee, S.F. and Ko, A.S.O. (2000), Building balanced scorecard with SWOT analysis, and
implementing Sun Tzus The Art of Business Management Strategies on QFD
methodology, Managerial Auditing Journal, Vol. 15 Nos 1/2, pp. 68-76.
Lee, S.F., Lo, K.K., Leung, R.F. and Ko, A.S.O. (2000), Strategy formulation framework for
vocational education: integrating SWOT analysis, balanced scorecard, QFD methodology
and MBNQA education criteria, Managerial Auditing Journal, Vol. 15 No. 8, pp. 407-23.

Exploring
SWOT analysis

245

JSMA
3,3

246

Leong, F.T. and Leach, M.M. (2007a), Internationalizing counseling psychology in the United
States: a SWOT analysis, Applied Psychology, Vol. 56 No. 1, pp. 165-79.
Leong, F.T. and Savickas, M.L. (2007b), Introduction to Special Issue on international
perspectives on counseling psychology, Applied Psychology, Vol. 56 No. 1, pp. 1-20.
Leung, S.A., Chan, C.C. and Leahy, T. (2007), Counseling psychology in Hong Kong: a
germinating discipline, Applied Psychology, Vol. 56 No. 1, pp. 51-79.
Levesque, J. and Walker, H.F. (2007), The innovation process and quality tools, Quality
Progress, Vol. 40 No. 7, pp. 18-23.
Li, S., Davies, B., Edwards, J., Kinman, R. and Duan, Y. (2002), Integrating group Delphi, fuzzy
logic and expert systems for marketing strategy development: the hybridization and its
effectiveness, Marketing Intelligence & Planning, Vol. 20 Nos 4/5, pp. 273-84.
Lin, C., Liu, A.C., Hsu, M.L. and Wu, J.C. (2008), Pursuing excellence in firm core knowledge
through intelligent group decision support system, Industrial Management Data
Systems, Vol. 108 No. 3, pp. 277-96.
Lin, C.C. and Lin, J. (2008), Capitalism in contemporary China: globalization strategies,
opportunities, threats, and cultural issues, Journal of Global Business Issues, Vol. 2 No. 1,
pp. 31-40.
Lin, H. and Hsu, P. (2006), Competitive analysis of Taiwans information industry, Journal of
the American Academy of Business, Vol. 8 No. 1, pp. 248-52.
Lin, T.M.Y., Luarn, P. and Lo, P.K.Y. (2004), Internet market segmentation an exploratory study
of critical success factors, Marketing Intelligence & Planning, Vol. 22 Nos 6/7, pp. 601-22.
Lindborg, H. (2003), Lessons from prairie dogs, Quality Progress, Vol. 36 No. 9, pp. 81-99.
Lippitt, M.B. (2003), Six priorities that make a great strategic difference, The Journal of
Business Strategy, Vol. 24 No. 1, pp. 21-4.
Lu, K.H., Lin, C.T. and Huang, I.C. (2007), Editorial: some measurement methods are applied to
business performance management, International Journal of Business Performance
Management, Vol. 9 No. 1, pp. 1-6.
Luu, T., Kim, S., Cao, H. and Park, Y. (2008), Performance measurement of construction firms in
developing countries, Construction Management and Economics, Vol. 26 No. 4, pp. 373-99.
McDonald, M. (1999), Marketing Plans, Butterworth-Heinemann Press, Oxford.
McGrail, M. and Roberts, B. (2005), Strategies in the broadband cable TV industry: the
challenges for management and technology innovation, Info: The Journal of Policy,
Regulation and Strategy for Telecommunications, Information and Media, Vol. 7 No. 1,
pp. 53-65.
Maiteny, P.T. and Ison, R.L. (2000), Appreciating systems: critical reflections on the changing
nature of systems as a discipline in a systems-learning theory, Systemic Practice and
Action Research, Vol. 13 No. 4, pp. 559-86.
Mango, A.W. (2006), Opinion: affinity diagram bring structure amidst chaos, Knight Ridder
Tribune Business News, April 14, p. 1.
Marques, J.F. (2009), How politically correct is political correctness?: A SWOT analysis of this
phenomenon, Business and Society, Vol. 48 No. 2, pp. 257-78.
Marti, J.M.V. (2004), Strategic knowledge benchmarking system (SKBS): knowledge-based
strategic management information system for firms, Journal of Knowledge Management,
Vol. 8 No. 6, pp. 31-49.

Martin, A. (2002), The globalization of Welsh business through the development of managerial
competencies and behavioral attitudes in e-business to e-business, Managerial Auditing
Journal, Vol. 17 No. 6, pp. 333-7.
Mayer, P. and Vambery, R.G. (2008), Aligning global business strategy planning models with
accelerating change, Journal of Global Business and Technology, Vol. 4 No. 1, pp. 31-48.
Mehta, A., Armenakis, A., Mehta, N. and Irani, F. (2006), Challenges and opportunities of
business process outsourcing in India, Journal of Labor Research, Vol. 27 No. 3, pp. 323-38.
Miaoyan, L. (2007), Preliminary study on development of industry tour in Liaoning
province1/etude preliminmaire du developpement de lindustrie de tourisme dans la
rovince du liaoning, Canadian Social Science, Vol. 3 No. 6, pp. 36-9.
Mintzberg, H., Ahlstrand, B. and Lampel, J. (1998), Strategy Safari: A Guide through the Wilds of
Strategic Management, Free Press, New York, NY.
Mishra, R.P., Anand, G. and Kodali, R. (2008), A SWOT analysis of total productive
maintenance frameworks, International Journal of Management Practice, Vol. 3 No. 1,
pp. 51-69.
Molnar, P. (2003), Hungarys journey to business excellence, Quality Progress, Vol. 36 No. 2,
pp. 55-64.
Morris, D. (2005), A new tool for strategy analysis: the opportunity model, The Journal of
Business Strategy, Vol. 26 No. 3, pp. 50-6.
Mulcaster, W. (2009), Three strategy frameworks, Business Strategy Series, Vol. 10 No. 1,
pp. 68-78.
Plain, C. (2007), Build an affinity for K-J method, Quality Progress, Vol. 40 No. 3, pp. 88-100.
Nair, K.G.K. and Prasad, P.N. (2004), Offshore outsourcing: a SWOT analysis of a state in India,
Information Systems Management, Vol. 21 No. 3, pp. 34-40.
Nickols, F. and Ledgerwood, R. (2006), The goals grid as a tool for strategic planning,
Consulting to Management, Vol. 17 No. 1, pp. 36-8.
Novicevic, M.M., Harvey, M., Autry, C.W. and Bond, E.U. III (2004), Dual-perspective SWOT: a
synthesis of marketing intelligence and planning, Marketing Intelligence & Planning,
Vol. 22 No. 1, pp. 84-94.
Occupational Health (2008), How to . . . find your strengths and weaknesses, Occupational
Health, Vol. 60 No. 2, pp. 24-39.
Oliver, G.R. and Donnelly, P.J. (2007), Effective use of a strategic issue management system
(SIMS): combining tools and approach, Journal of Public Affairs, Vol. 7 No. 4, pp. 399-409.
Oliver, R.W. (2000), The real-time toolbox, The Journal of Business Strategy, Vol. 21 No. 2,
pp. 7-10.
Osbum, T.P. and Klimaszewski, D.L. (2005), The future of quality in Indianapolis, Quality
Progress, Vol. 38 No. 10, pp. 39-44.
Ou, W. and Chai, K. (2007), Use of leadership and differentiation strategies by professional
service firms: a case study, International Journal of Management, Vol. 24 No. 3, pp. 477-88.
Palacios, T.M.B. and Galvan, R.S. (2006), Intellectual capital within Iberian municipalities
(network), Journal of Knowledge Management, Vol. 10 No. 5, pp. 55-64.
Panagiotou, G. (2003), Bringing SWOT into focus, Business Strategy Review, Vol. 24 No. 2,
pp. 8-16.
Panagiotou, G. (2004), Managerial cognitions of competitive landscapes: a strategic group
analysis, unpublished PhD thesis, University of Nottingham.

Exploring
SWOT analysis

247

JSMA
3,3

Panagiotou, G. and van Wijnen, R. (2005), The telescopic observations framework: an

attainable strategic tool, Marketing Intelligence & Planning, Vol. 3 Nos 2/3, pp. 155-71.

248

Papazafeiropoulou, A. (2004), Inter-country analysis of electronic commerce adoption in South

Eastern Europe: policy recommendations for the region, Journal of Global Information
Technology Management, Vol. 7 No. 2, pp. 54-69.

Pandya, K.V. and Arenyeka-Diamond, A.O. (2002), Towards a model of e-tailing: a SWOT
analysis of electronic supermarkets, International Journal of Services Technology and
Management, Vol. 3 No. 1, pp. 96-110.

Peteraf, M.A. (1993), The cornerstones of competitive advantage: a resource-based view,

Strategic Management Journal, Vol. 14, May-June, pp. 179-91.
Pickton, D.W. and Wright, S. (1998), Whats SWOT in strategic analysis?, Strategic Change,
Vol. 7, pp. 101-9.
Piercy, N. (2002), Market-Led Strategic Change: A Guide to Transforming the Process of Going to
Market, 3rd ed., Butterworth-Heinemann, London.
Piercy, N. and Giles, W. (1989), Making SWOT analysis work, Journal of Marketing Intelligence
& Planning, Vol. 7 Nos 5/6, pp. 5-7.
Porter, M.E. (1980), Competitive Strategy, Free Press, New York, NY.
Porter, M.E. (1991), Towards a dynamic theory of strategy, Strategic Management Journal,
Vol. 12, pp. 95-117.
Prefontaine, L. and Bourgault, M. (2002), Strategic analysis and export behavior of SMEs: a
comparison between the United States and Canada, International Small Business Journal,
Vol. 20 No. 2, pp. 123-38.
Proctor, R.A. (1992), Structured and creative approaches to strategy formulation, Management
Research News, Vol. 15 No. 1, pp. 13-19.
Proctor, T. (2002), Strategic marketing management for health management: cross impact
matrix and TOWS, Journal of Management in Medicine, Vol. 14 No. 1, pp. 47-56.
Pryor, R.G.L. and Bright, J.E.H. (2007), The current state and future direction of counseling
psychology in Australia, Applied Psychology, Vol. 56 No. 1, pp. 7-29.
Rajeev, M. and Vani, B.P. (2009), Indias export of BPO services: understanding strengths,
weaknesses, and competitors, Journal of Services Research, Vol. 9 No. 1, pp. 51-67.
Ramos, P., Salazar, A. and Gomes, J. (2000), Trends in Portuguese tourism: a content analysis of
association and trade representative perspectives, International Journal of Contemporary
Hospitality Management, Vol. 12 No. 7, pp. 409-16.
Rau, K. (2007), Transformation from internet portal to the worlds largest internet
communications enterprise, Internet Research, Vol. 17 No. 4, pp. 435-56.
Razmi, J., Ghaderi, S.F., Zairi, M. and Sadeghi-Keyno, H.R. (2008), Compiling and prioritizing
strategies for electrical energy production from fossil fuel with support of benchmarking,
Benchmarking, Vol. 15 No. 6, pp. 794-804.
Reid, N., Carroll, M.C. and Smith, B.W. (2007), Critical steps in the cluster building process,
Economic Development Journal, Vol. 6 No. 4, pp. 44-52.
Robins, L. and Dovers, S. (2007), Community-based NRM boards of management: are they up to
the task?, Australasian Journal of Environmental Management, Vol. 14 No. 2, pp. 111-22.
Ruocco, P. and Proctor, T. (1994), Strategic planning in practice, Marketing Intelligence &
Planning, Vol. 12 No. 9, pp. 24-9.

Ryynanen, T. and Jansson, K. (2007), A method to advance mutual understanding in a multipartnership project, The Business Review, Vol. 8 No. 1, pp. 326-31.
Sale, M.L. (2007), How can I jump, when I have no place to stand? Accounting to meet the needs
of a changing market, Journal of the International Academy for Case Studies, Vol. 13 No. 6,
pp. 29-39.
Salman, A. (2009), Bangladeshs economy: surrounded by deadly threats, International Journal
of Social Economics, Vol. 36 Nos 1/2, pp. 138-51.
Sanger, M. (1998), Supporting the balanced scorecard, Work Study, Vol. 47 No. 6.
Savickas, M.L. (2007), Internationalization of counseling psychology: constructing
cross-national consensus and collaboration, Applied Psychology, Vol. 56 No. 1, p. 182.
Savickas, M.L. (2003), Introduction to the special issue, The Career Development Quarterly,
Vol. 52 No. 1, pp. 4-7.
Schmenner, R.W. (2009), Too much theory, not enough understanding, OSM Forum, January,
available at: www.journaloperationsmanagement.org
Schnaars, S.P. (1998), Marketing Strategy, Free Press, New York, NY.
Schneider, S. and De Meyer, A. (1991), Interpreting and responding to strategic issues, Strategic
Management Journal, Vol. 12, July, pp. 307-20.
Schwery, A. and Raurich, V.F. (2004), Supporting the technology push of a discontinuous
innovation in practice, R & D Management, Vol. 34 No. 5, pp. 539-52.
Seo, Y.S., Kim, D.M. and Kim, D.I. (2007), Current status and prospects of Korean counseling
psychology: research, clinical training, and job placement, Applied Psychology, Vol. 56
No. 1, pp. 107-19.
Sherman, H., Rowley, D.J. and Armandi, B.R. (2007), Developing a strategic profile: the
pre-planning phase of strategic management, Business Strategy Series, Vol. 8 No. 3,
pp. 162-71.
Shinno, H., Yoshioka, H., Marpaung, S. and Hachiga, S. (2006), Quantitative SWOT analysis on
global competitiveness of machine tool industry, Journal of Engineering Design, Vol. 17
No. 3, pp. 251-8.
Smith, J.A. (1999), The behavior and performance of young micro firms: evidence from business
in Scotland, Small Business Economics, Vol. 13 No. 3, pp. 185-200.
Sodhi, M. and Tang, C. (2008), The or/ms ecosystem: strengths, weaknesses, opportunities, and
threats, Operations Research, Vol. 56 No. 2, pp. 267-77.
Sorensen, L., Vidal, R.V.V. and Engstrom, E. (2004), Using soft OR in a small company the
case of Kirby, European Journal of Operational Research, Vol. 152 No. 3, pp. 555-70.
Stevenson, H. (1976), Defining corporate strengths and weaknesses, Sloan Management
Review, Vol. 17, Spring, pp. 51-68.
Stotler, J. (2008), Strayer education, incorporated: an equity valuation, Journal of the
International Academy for Case Studies, Vol. 14 No. 4, pp. 83-9.
Strategic Direction (2007), The cosmetics cosmos: a review of four major players, Strategic
Direction, Vol. 23 No. 3, pp. 26-41.
Stuart-Kregor, P. (2005), Can healthcare marketing be classed as excellent?, Journal of
Medical Marketing, Vol. 5 No. 2, pp. 116-8.
Tam, F.Y., Chan, T.S., Chu, P.W., Lai, T.C. and Wang, L.L. (2005), Opportunities and challenges:
Hong Kong as Asias fashion hub, Journal of Fashion Marketing and Management, Vol. 9
No. 2, pp. 221-31.

Exploring
SWOT analysis

249

JSMA
3,3

250

Terblanche, N.S. (2008), New pharmaceutical product development: barriers to overcome and
opportunities to exploit, Journal of Commercial Biotechnology, Special Issue: Connecting
Product Innovation Management, Vol. 14 No. 3, pp. 201-12.
Turkki, K. (2005), Pre-professionals perceptions of home economics in Finland, International
Journal of Consumer Studies, Vol. 29 No. 3, pp. 273-82.
Turner, S. (2002), Tools for Success: A Managers Guide, McGraw-Hill, London.
Valentin, E.K. (2001), SWOT analysis from a resource-based view, Journal of Marketing
Theory and Practice, Vol. 9 No. 2, pp. 54-69.
Villinger, N.D. (2009), Analyzing non-profit organizations: managerial frameworks and
evaluation, Journal of Global Business Issues, Vol. 3 No. 1, pp. 61-6.
Vrontis, D. and Vignali, C. (2001), Dairy milk in France a marketing investigation of the
situational environment, British Food Journal, Vol. 103 No. 4, pp. 291-6.
Warren, K. (2002), Competitive Strategy Dynamics, Wiley, New York, NY.
Watson, M.B. and Fouche, P. (2007), Transforming a past into a future: counseling psychology
in South Africa, Applied Psychology, Vol. 56 No. 1, pp. 152-79.
Weihrich, H. (1982), The TOWS matrix: a tool for situational analysis, Long Range Planning,
Vol. 15 No. 2, pp. 54-66.
Wernerfelt, B. (1984), A resource-based view of the firm, Strategic Management Journal, Vol. 5,
November-December, pp. 170-80.
Wheelan, T.L. and Hunger, J.D. (1998), Strategic Management and Business Policy, 5th ed.,
Addison-Wesley, Reading, MA.
White, E., Behara, R. and Babbar, S. (2002), Mine customer experiences, Quality Progress,
Vol. 35 No. 7, pp. 63-8.
Winer, L. (1983), How to add goal-directed creativity to planning, Managerial Planning, Vol. 32
No. 3, pp. 30-8.
Wrigley, M. and Gould, B. (2002), Considering people, adding value, maintaining relevance:
strategies and tactics to increase the usage of public parks, Journal of Leisure Property,
Vol. 2 No. 2, pp. 142-54.
Xie, Y. and Lin, I-H. (2008), Strategic analysis: Blockbuster case study, The Business Review,
Vol. 9 No. 2, pp. 68-75.
Young, R.A. and Nicol, J.J. (2007), Counseling psychology in Canada: advancing psychology for
all, Applied Psychology, Vol. 56 No. 1, pp. 20-39.
Yu, L. and Huimin, G. (2005), Hotel reform in China: a SWOT analysis, Cornell Hotel and
Restaurant Administration Quarterly, Vol. 46 No. 2, pp. 153-69.
Zarkos, S., Morgan, R.E. and Kouropalatis, Y. (2007), Real options and real strategies, Strategic
Change, Vol. 16 No. 7, pp. 315-29.
Zenobia, B., Weber, C. and Daim, T. (2009), Artificial markets: a review and assessment of a new
venue for innovation research, Technovation, Vol. 29 No. 5, pp. 338-45.

Further reading
Menon, A., Bharadwaj, S.G., Adidam, P.T. and Edison, S.W. (1999), Antecedents and
consequences of marketing strategy making, Journal of Marketing, Vol. 63, pp. 18-40.
Morgan, R.M. (1995), The comparative advantage theory of competition, Journal of Marketing,
Vol. 59, April, pp. 1-15.

About the authors

Marilyn M. Helms holds the Sesquicentennial Chair and is a Professor of Management at Dalton
State College in Dalton, Georgia. She teaches strategic management, entrepreneurship and
quality management systems classes. She is the author of numerous research studies published
in journals including Journal of Business and Entrepreneurship, The International Journal of
Entrepreneurship and Innovation, Journal of Small Business Strategy, and Journal of
Developmental Entrepreneurship and she writes a monthly business column for the Dalton
(GA) Daily Citizen newspaper. She holds a doctorate degree from the University of Memphis
(Tennessee) and was a Fulbright scholar at the University of Coimbra, Portugal. Marilyn
M. Helms is the corresponding author and can be contacted at: [email protected]
Judy Nixon holds the Henry Hart Chair of Business Administration and is a Professor of
Management at The University of Tennessee at Chattanooga. She teaches staffing, issues in
human resource management seminar, and intercultural business communication. She is the
author of numerous articles and most recently published in: International Academy for Case
Studies ( JIACS), The International Journal of Business Disciplines, Journal of Learning in Higher
Education, and Corporate Communications: An International Journal. She holds a PhD from
Georgia State University.

To purchase reprints of this article please e-mail: [email protected]

Or visit our web site for further details: www.emeraldinsight.com/reprints

Exploring
SWOT analysis

251