Determination of Innovation Strategies using Advanced SWOT Analysis

Abstract

In this study, it is aimed to use advanced SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis methodology in determining the innovation strategies of a company operating in the automotive sub-industry. In this analysis, unlike the classical SWOT analysis, the order of importance of each SWOT factor was determined by giving different importance, effect, ratio and probability values to each factor. Then, innovation strategies were created by matching the factors according to these importance orders. Thus, the disadvantages such as the ability of a small weakness to balance a large strength and thus the overlook of the most important factors are eliminated. As a result, the most appropriate innovation strategies that will guide the innovation activities of the company have been determined.