An improved SWOT evidential reasoning based approach for strategy evaluation under uncertainty

Abstract

Formulation and evaluation of strategy play important role in the strategy management. Strength, Weakness, Opportunity and Threats (SWOT) is a famous approach to formulate strategy planning, which relies on external and internal factors. Identifying these factors precisely is very critical for any organization and manager. This study aims at providing a quantitative basis to analytically determine the ranking of the factors in SWOT analysis via Evidential Reasoning (ER) approach. This paper applies SWOT and Richard Rumelt's criteria to evaluate strategies in Evidential Reasoning approach. The ER approach has been developed to support MADA under uncertainty. It is based on Dempster's rule for evidence combination and uses belief functions for dealing with probabilistic uncertainty and ignorance. This research is the first study in the ranking the factors of SWOT and Richard Rumelt approach. An illustrative example is also presented to show the efficiency of our model. © 2014 Growing Science Ltd. All rights reserved.