Using SWOT Analysis and Sem to Prioritize Strategies in Foreign Exchange Market in Iran | Zendy

Mohammad Shariatmadari | Zendy; Amir Homayoun Sarfaraz | Zendy; Pegah Hedayat | Zendy; Kiyan Vadoudi | Zendy

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Using SWOT Analysis and Sem to Prioritize Strategies in Foreign Exchange Market in Iran

Author(s) -

Mohammad Shariatmadari,

Amir Homayoun Sarfaraz,

Pegah Hedayat,

Kiyan Vadoudi

Publication year - 2013

Publication title -

procedia - social and behavioral sciences

Language(s) - English

Resource type - Journals

ISSN - 1877-0428

DOI - 10.1016/j.sbspro.2013.10.561

Subject(s) - swot analysis , strengths and weaknesses , order (exchange) , foreign exchange , simple (philosophy) , business , risk analysis (engineering) , computer science , economics , marketing , finance , psychology , monetary economics , philosophy , epistemology , social psychology

Recently, due to international prohibition on Iran, foreign exchange market of Iran is facing with a severe crisis. In this situation adopting best strategy is vital for Iran. One of the best ways to select strategy is SWOT analysis. SWOT analysis is a powerful tool to identify strategies by strengths and weaknesses, opportunities and threats. Consequently, it is very important to prioritize strategies for organizations. Thus there are various methods presented for determining the priority of the strategies. This paper offers a new and statistical method that using the structural equations model, creates a second-order factor analysis model for each of the strategies SO, ST, WO and WT and the best model is chosen according to the AIC criterion. Comparing this approach to ANP reveals that ANP method is very complex and time wasting while the mentioned method is very easy and simple

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