Analytical Network Process in the Framework of SWOT Analysis for Strategic Decision Making (Case Study: Technical Faculty in Bor, University of Belgrade, Serbia)
In this study Analytical Network Process (ANP) was applied as a model for prioritizing generated strategies based on the factors and sub-factors within the SWOT analysis, in the case of the Technical Faculty in Bor (TFB), University of Belgrade (UB), Serbia. ANP methodology approach implies the establishment of a hierarchical model on four levels: Goal (selection of the best strategy) SWOT factors SWOT sub-factors alternative strategies, which establishes the interaction between clusters at different hierarchical levels of the model as well as the interactions between the elements within each cluster. This paper demonstrates a process for quantitative SWOT analysis that can be performed even when there is dependence among strategic factors. The proposed algorithm uses the ANP, which allows measurement of the dependencies among the strategic factors, as well as AHP, which is based on the independences between the factors. Dependencies among the SWOT factors and sub-factors are observed and their relative importance weights are determined, as well as their impact on the prioritization of the development strategy. The resulting benchmarking and prioritization of the alternative strategies in a series WO1 SO1 ST1 WT1 for the development period of the TFB until 2025, indicates the sequence of application of certain strategies. This sequence implies that after reaching the limits in the application of the first strategy the next strategy in the defined sequence is implemented, in accordance with the mission of the TFB, the adopted strategic goals (SC) and adopted vision for the next ten-year period
