Digitalization of Strategic Decision-Making in Manufacturing SMEs: A Quantitative SWOT-TOWS Analysis
Journal Title: Precision Mechanics & Digital Fabrication - Year 2024, Vol 1, Issue 3
Abstract
The transition of contemporary manufacturing processes from digital to post-digital paradigms within the framework of Industry 5.0 necessitates the integration of both technological advancements and human-centered perspectives. This shift demands a high degree of customization and personalization in production processes, impacting both core and supporting operations. This study investigates the development of a software application designed to facilitate strategic goal-setting in manufacturing Small and Medium-sized Enterprises (SMEs) by leveraging a digitalized Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis. The research focuses on the use of this tool to collect, compare, and rank SWOT factors provided by employees and managers, in order to support data-driven strategic decision-making. The initial phase of the study involved a sample of 520 entrepreneurs and business owners from Poland, Slovakia, the Czech Republic, Hungary, and Serbia, which led to the identification of an extensive list of 83 strengths, 92 weaknesses, 78 opportunities, and 86 threats. These factors were stored in a Google Cloud Database, enabling subsequent comparisons with new data. A further 63 senior decision-makers tested the application by entering their own SWOT factors, comparing them with existing ones in the database, and ranking their significance for strategic planning. The rankings were calculated automatically, with the top-ranked factors forming the basis for further analysis. In the final stage, these rankings were reviewed by five experts from the research consortium, who conducted pairwise comparisons and employed Analytic Hierarchy Process (AHP) analysis to develop a Threats, Opportunities, Weaknesses, and Strengths (TOWS) matrix. This matrix identified potential strategic actions to optimize operations within the investigated region. The findings demonstrate the potential of the software tool to enhance strategic decision-making and improve organizational performance in manufacturing SMEs. The results offer practical insights for decision-makers seeking optimal strategies for operational optimization in their organizations.
Authors and Affiliations
Ivan Mihajlović, Martina Perišić, Vesna Spasojević Brkić, Isidora Milošević, Nenad Milijić
Keywords
Related Articles
- EP ID EP752489
- DOI https://doi.org/10.56578/pmdf010305
- Views 29
- Downloads 1
Innovative 3D-Printed Suppressor Designs: Enhancing Safety and Efficiency in Firearm Use
Advancements in 3D printing technology have enabled the creation of highly efficient and cost-effective suppressors, offering significant safety benefits for firearm users. Exposure to firearm noise, even in controlled e...
Analysis and Experimental Study of the Composite Mechanical Bulging Process for Medium-Duty Commercial Vehicle Drive Axle Housing
A novel composite mechanical bulging process suitable for the manufacture of medium-duty commercial vehicle drive axle housings is proposed. The analytical expression for the limit bulging forming coefficient of tube bla...
A Gearbox Vibration Signal Compressed Sensing Method Based on the Improved GLOW Flow Model
In response to the complex characteristics of gearbox vibration signals, including high frequency, high dimensionality, non-stationarity, non-linearity, and noise interference, this paper proposes a data processing metho...
Automated Alignment of U-Notch in Iron Caps Using Machine Vision: A System for Suspended Insulators
In the automated production line for suspended insulators, precise alignment of the U-shaped notch in iron caps is crucial for effective gluing. This study introduces a system based on machine vision that automates the a...
Ultrasonic-Enhanced Laser Cladding: Improving Microstructure and Performance Through Synergistic Processing Techniques
Laser additive manufacturing, a pivotal technology in advanced manufacturing, is extensively applied in the restoration industry. However, its development has been hindered by challenges such as residual stress and exces...