Abstract
There is a growing demand for manufacturers from within and outside the company to embrace stakeholder-satisfying production techniques. As a result, companies undertake a wide range of assessments as part of their strategic planning and performance monitoring processes. The strengths, weaknesses, opportunities, and threats (SWOT) analysis is used in strategic planning that help businesses evaluate their current standing. In addition, through the analytic hierarchy process (AHP), a pairwise comparison may be made between elements or criteria to prioritize them, making the SWOT analysis and multicriteria decision-making method more effective. The purpose of the combined approach is to raise the effectiveness of strategic planning inside a business. This paper does a SWOT analysis of a process industry, outlining its strengths, weaknesses, opportunities, and threats. First, the company’s strengths, weaknesses, opportunities, and threats (SWOT) are determined via an internal poll. Then, the AHP compares alternatives by contrasting them head-to-head. The results of the company-wide poll of experts landed on seventeen distinct elements. With this information, the manufacturing firm can decide how best to boost its operations.
![](http://media.springernature.com/m312/springer-static/image/art%3A10.1007%2Fs40032-024-01036-0/MediaObjects/40032_2024_1036_Fig1_HTML.png)
Similar content being viewed by others
References
UNCTAD-The covid-19 pandemic impact on micro, small, and medium sized enterprises (2022)
E. Luis, A. Eduardo, I. Pedro, Measuring performance using SWOT analysis and balanced score card. Procedia Manuf. 39, 786–793 (2019)
N. Ramasamy, R. Rajesh, Development of a hybrid BSC-AHP model for institutions in higher education. Int. J. Enterp. Netw. Manag. 7(1), 13–24 (2016)
K. Nikos, V. John, B. Georgia, Balanced scorecard and performance measurement in a Greek industry. Procedia Econ. Financ 5, 413–422 (2013)
P. Quesado, S. Marques, The balanced scorecard as a strategic management tool in the textile sector, MDPI (2021)
H. Zhang, M. Chen, Research on the recycling industry development model for typical exterior plastic components of end-of-life passenger vehicle based on the SWOT method. Waste Manag. 33(11), 2341–2353 (2013)
Annual Report 2020–2021- MSME, Government of India. www.msme.gov.in
N. Gunningham, Regulating small and medium sized enterprises. J. Environ. Law Policy 14, 3 (2002)
H.G. Chong, "Measuring performance of small-and-medium sized enterprises: The grounded theory approach." J. Bus. Public Aff. (2008).
Rohan Thomas Abraham, Understanding the MSME sector in Kerala (2020). www.investindia.gov.in
T.L. Saaty, Decision making with the analytic hierarchy process. Int. J. Serv. 1, 83–98 (2008)
N. Subramanian, R. Ramanathan, A review of applications of analytic hierarchy process in operations management. Int. J. Prod. Econ. 138, 215–241 (2012)
J.K. Khatri, B. Metri, SWOT–AHP approach for sustainable manufacturing strategy selection: a case of Indian SME. Glob. Bus. Rev. 17(5), 1211–1226 (2016)
B.V. Jayanth et al., Implementation of lean manufacturing in electronics industry. Mater. Today Proc. 33, 23–28 (2020)
A. Palange, Lean manufacturing a vital tool to enhance productivity in manufacturing. Mater. Today Proc. 46, 729–736 (2021)
O. Sidorenko, R. Saarinen, K. Moore, Rethinking the concept of small-scale mining for technologically advanced raw materials production. Resour. Policy 68, 101712 (2020)
H.-H. Wu, Y.-N. Tsai, Using AHP to evaluate the criteria of auto spare parts industry. Qual. Quant. 46, 359–364 (2012)
P. Boonyarat, M. Richard, Importance-Performance analysis based SWOT analysis. Int. J. Inf. Manage. 44, 194–203 (2019)
H. Shinno, H. Yoshioka, Quantitative SWOT analysis on global competitiveness on machine tool industry. J. Eng. Des. 17(3), 251–258 (2006)
K. Zharan, J.C. Bongaerts, Decision-making on the integration of renewable energy in the mining industry: a case studies analysis, cost analysis, and a SWOT Analysis. J. Sustain. Min. 16, 162–170 (2017)
I. Yuksel, M. Dagdeviren, Using the analytic network process in a SWOT analysis—a case study for a textile firm. Inf. Sci. 177, 3364–3382 (2007)
G. Liu, S. Zheng, An ANP-SWOT approach for ESCOs industry strategies in Chinese building sectors. Renew. Sustain. Energy Rev. 93, 90–99 (2018)
A. Gorener, K. Toker, K. Ulcay, Application of combined SWOT and AHP: a case study for a manufacturing firm. Procedia Soc. Behav. Sci. 58, 525–1534 (2012)
M.N. Anish, P.B. Dhanish, SWOT–AHP analysis in the medical tourism area of Kerala. Int. J. Soc. Syst. Sci. 9(3), 256–275 (2017)
S. Lee, P. Walsh, SWOT and AHP hybrid model for sport marketing outsourcing using a case of intercollegiate sport. Sport Manag. Rev. 14, 361–369 (2011)
Funding
The authors have not disclosed any funding.
Author information
Authors and Affiliations
Corresponding author
Ethics declarations
Conflict of interest
The authors have not disclosed any competing interests.
Additional information
Publisher's Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Rights and permissions
Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
About this article
Cite this article
Ayswer, A.S., Ramasamy, N., Anand, M.D. et al. Analysing the Performance of a Manufacturing Firm Using Hierarchical Approach. J. Inst. Eng. India Ser. C (2024). https://doi.org/10.1007/s40032-024-01036-0
Received:
Accepted:
Published:
DOI: https://doi.org/10.1007/s40032-024-01036-0