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.

References

[1] Akman G, Yilmaz C. Innovative capability, innovation strategy and market orientation: an empirical analysis in Turkish software industry. In Managing Innovation: What Do We Know About Innovation Success Factors? 2019; 139-181.

[2] Balci M, Kumral M. Building an innovation strategy and culture on the structural characteristics of the mining industries. Resources Policy 2022; 78:102936.

[3] Lunati M. The OECD-Eurostat entrepreneurship indicators programme. Measuring Entrepreneurship 2010.

[4] Edeh JN, Obodoechi DN, Ramos-Hidalgo E. Effects of innovation strategies on export performance: New empirical evidence from developing market firms. Technological Forecasting and Social Change 2020; 158:120167.

[5] Paredes-Frigolett H, Pyka A, Leoneti AB. On the performance and strategy of innovation systems: A multicriteria group decision analysis approach. Technology in Society 2021; 67: 101632.

[6] Sheth A, Sinfield JV. An analytical framework to compare innovation strategies and identify simple rules. Technovation 2022; 102534.

[7] Denicolai S, Previtali P. Innovation strategy and digital transformation execution in healthcare: The role of the general manager. Technovation 2022; 102555.

[8] https://www.cambridgeroadmapping.net/moretemplates#Link16 

[9] Johnson G, Scholes K, Whittington R. Exploring corporate strategy. 8th ed. FT Prentice Hall 2008; 156, 160.

[10] Pickton DW, Wright S. What’s SWOT in strategic analysis? Strategic Change 1998; 7: 101-109.

[11] Rothaermel FT. Strategic management: Concepts and cases. McGraw-Hill/Irwin 2012; 105-106.