1. Introduction

One distinctive feature of management is the importance it attaches to making strategic decisions. As more markets become global, the number of dependencies between the factors that arise in a decision grows exponentially. Furthermore, evolving technologies drive changes in markets and products must change with them (^{Ervural, Zaim, Demirel, Aydin, & Delen, 2018}). Some industries change faster than others, but change is now the norm rather than the exception.

In this field, ^{Wheelen et al. (2015)} focus on making the strategy formulation process more effective to respond to the complexity of the competitive environment through the implementation of decision techniques such as multi-criteria analysis, as well as robust and flexible tools for all types of organizations.

In this sense, facing the challenge of change gives companies the options to react, anticipate or lead the market in terms of their own strategies. These are defined as the reconciliation that an organization makes between its internal resources and its capacities, the opportunities and the risks or threats created by its external factors. They define the essence of strategic planning when relating a company with its environment (^{Porter, 1997}). Although there are innovative tools to analyze the decision-making problem of a company, this publication aims to analyze the synergy of traditional tools that provide a frame of reference for the future adoption of corporate, competitive, and functional strategies in combination with the different key success factors identified by each type of company.

In relation to the problem that justifies this study, specifically in the field of corporate strategy formulation based on complementing SWOT analysis with other prioritization tools to refine the selection and improve its effectiveness, although authors have agreed that the dependence between decision elements cannot be overlooked, few of them have applied SWOT-ANP approaches to evaluate and select them. In fact, one of the most comprehensive studies is the one by ^{Sanny et al. (2018)} , who analyze the internal and external environment of companies to formulate alternative strategies during the planning process and use various multi-criteria hybrids such as Fuzzy ANP, ANP and Fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) to finally select the best alternative strategy. Moreover, looking for criteria that influence the occurrence of damage based on data from cooperatives and SMEs in Batik Madura, ^{Khotimah et al. (2017)} used SWOT Analysis combined with FANP method to determine the most appropriate business strategy to be applied in SMEs. However, among the decision elements related to corporate strategy selection, neither a key cluster such as the key success factors, nor Porter's generic strategy cluster has been considered as an additional conditioner, thus reducing the completeness of the decision. The other constituent concepts of the study framework for this paper are illustrated below.

2. Conceptual background

In addition to the works of ^{Sanny et al. (2018)} & ^{Khotimah et al. (2017)} , and to find research trends and application of SWOT-PSA analysis in different contexts related to strategic decision making, a bibliometric analysis was performed for a time horizon in searches between 2007 and 2023 obtaining the results shown in Figure 1. The search equation used for this analysis was "anp AND swot AND strateg*" in the database SCOPUS with the filter Article Title, Abstract and Keywords. In the Web of Science database, the search equation was “All fields”. The search yielded 106 articles that were unified through the Mendeley bibliographic manager, which was used to export them with the .RIS extension to the VosViewer® software. Note the close relationship between the SWOT analysis and the decision-making processes for strategic planning considering the key internal and external factors.

The results in Figure 1 highlight the use of multicrite-ria methods such as ANP and AHP, together with hybrid methods such as fuzzy theory and TOPSIS they support the processes of strategic analysis, application of SWOT analysis, evaluation of key success factors, among other decision elements in organizations.

In this sense, correlated authors stand out and are shown in Figure 2. This is the case of ^{Kabak et al. (2016)} , who in their collaborations have investigated and applied multi-criteria methods to prioritize energy policies in countries such as Turkey. Those policies have been first evaluated by means of SWOT analysis to then achieve their prioritization (^{Genç et al., 2018}). Kabak, in other of his collaborations with Dağdeviren & Burmaoğlu in 2016, analyze the situation of energy strategy in Turkey using a hybrid model combining SWOT with fuzzy ANP, their main achievement was the evaluation of 4 factors and 21 sub-factors to prioritize 7 energy policies as alternatives; also the accuracy of the information coming from the decision stakeholders was achieved by means of FANP (fuzzy ANP) (^{Kabak et al., 2012}, ²⁰¹⁶). In the same sector, ^{Akçaba & Eminer (2022}) propose an integrated ANP-SWOT- Fuzzy FTOPSIS approach to identify strategic energy alternatives for the energy sector in Northern Cyprus. In the energy field, ^{Kaytez (2022)} also applied a hybrid Fuzzy Network Analytical Process (FANP) approach based on SWOT to assess the future development of wind energy capacities in Turkey in light of the sectoral effects of the Covid-19 outbreak in 2020. In pandemic times, ^{Sobhani et al. (2022)} also used SWOT-ANP models to identify optimal strategies to cope with the Iranian tourism crisis generated by COVID-19 and increase resilience to its effects.

Some authors are not listed with direct correlations but are within the results of the bibliometric study and constitute an important reference for the present article. That is the case of ^{Arsić et al. (2017)} , who built a model in which, combining SWOT analysis of the situation and the ANP method, identified sustainable development and environmental protection scenarios that would enable the company to achieve its vision. In this context of sustainable solid waste management, using ANP and SWOT, ^{Pongpimol et al. (2020)} examined issues affecting end-of-life (EOL) management of flexible packaging. In the same vein, ^{Islami & Farajollahi (2022)} used SWOT-ANP to investigate and prioritize strategies to improve livelihoods in Bagherabad, a village of Sanandaj city, based on natural resource approaches. In the field of sustainable energy, ^{Yontar & Derse (2022)} applied an integrated AHP/ANP methodology with SWOT Analysis SWOT Matrix to determine strategies of the Sustainable Energy Action Plan for the Yenişehir region in the Turkish province of Mersin. ^{Živković et al. (2015)} formulated models for prioritization of strategies generated at the university level, in the case of the Technical Faculty of Bor, University of Belgrade, Serbia, also prioritizing factors and sub-factors associated with this type of decision. The authors constructed a four-level hierarchical ANP model: “Objective (selection of the best strategy) - SWOT factors - SWOT sub-factors - alternative strategies, which establish the interaction between the clusters at different hierarchical levels of the model, as well as the interactions between the elements within each cluster”.

Other authors complemented multicriteria analysis techniques with ANP-SWOT in decision-making in different fields. With the aim of improving the analytical dimension of SWOT with group decision-making, ^{Yüksel (2012)} proposed an integrated ANP and Fuzzy TOPSIS model showing that it is applicable to SWOT analysis and strategy selection. In the same vein, ^{Kaymaz et al. (2022)} evaluated the socio-economic structure of Erzurum with AHP and digitized SWOT analysis considering the Sustainable Development Goals (SDGs). ^{Voronova et al. (2018)} conducted a comparative analysis of development strategy selection using the SWOT-ANP to develop a company strategy. Based on a SWOT-ANP approach, to propose strategies for energy efficiency improvement of the building sector in Iran, ^{Borjoeifar et al. (2021)} conducted a study to evaluate the branding strategies of the medicinal herb Ferula assa-foetida, a species of the Umbelliferae family in Kerman province, also located in Iran. ^{Lak et al. (2020)} investigated and analyzed the potential of heritage tourism to help regenerate the historic city of Birjand, Iran, using urban cultural capital based on a SWOT-ANP approach. ^{Khojaste-Sarakhsi et al. (2019)} found that modification of the energy tariff system was the most important strategy.

For Aceh Songket business, an Indonesian traditional weaving, ^{Ilyas et al. (2018)} detected seven problems of internal and external factors of the company using SWOT analysis to produce nine marketing strategies. The sub-criteria defined in their study to determine the best strategy were viewed in terms of the marketing mix. Then, from ANP, they determined the development of product diversification as the best strategy. ^{Liu et al. (2018)} applied it in energy service companies (ESCOs) for the construction sector in China. Based on a comprehensive ANP-SWOT analysis model, ^{Zhang & Rao (2021)} determined the essential characteristics of the best strategy for the innovation and development of the Chinese high-end medical equipment industry during the COVID-19 pandemic. ^{Namin et al. (2019)} , to address the shortcomings of the assumed independence between factors and AHP decision options, implemented an ANP-based algorithm that, according to them, can perform well even when there is a dependency between the SWOT factors, illustrating its application for strategic planning in the green space of Tehran's District 19.

^{Quezada et al. (2019)} developed a quantitative hybrid method with BSC (Balanced Scorecard) and SWOT ana-lysis to evaluate the performance of a company in the food industry, validating it with managers, who found the method useful but time-consuming. ^{Shahanipour et al. (2020)} identified and prioritized human resource strategies in a document management area, initially con-ducting analysis using the SWOT matrix, and then using ANP to prioritize the strategies. The strategy for human resources maintenance, based on the extended creativity criterion, was selected as the highest priority. ^{Wahyono et al. (2020)} combined ANP with SWOT for decision-making to determine the strategy for developing robust coffee in Jember, seeking for ANP to contribute to decision-making by prioritizing alternatives. In order to strategically plan for the optimal development of aquaculture in the coastal areas of Qeshm Island, ^{Zarei et al. (2020)} especially analyzed the island's aquaculture activities within the framework of integrated coastal zone management. The authors used the ANP and Super Decision software in the SWOT matrix to evaluate and prioritize the related factors. They showed the most efficient strategies for the optimal development of aquaculture use in the coastal areas of Qeshm Island. For the same purpose, ^{Li et al. (2020)} applied it in the development of methanol vehicles. Fuzzy-logic and grey-relational ANP-based SWOT was used in the development of ceramic and tile industries by ^{Karimi et al. (2019)} . Furthermore, SWOT-ANP Fuzzy TOPSIS was applied for energy development (^{Ervural et al., 2018}). ^{Aghasafari et al. (2020)} used SWOT, fuzzy theory, and ANP to determine the best strategies for organic farming development based on global factors affecting organic farming, considering the interdependence between them under uncertainty in the decision-making environment, focusing on the Iranian province of Khorasan Razavi. They integrated the ANP method into the SWOT analysis to determine the most suitable strategy for Turkey's medical tourism. ^{Sevim & Önder (2020)} also integrated the ANP method into the SWOT analysis to determine the most suitable strategy for Turkey's medical tourism. ^{Barati et al. (2018)} developed a hybrid method for formulating and choosing strategies for rural cooperative development in Iran by combining SWOT analysis, SWOT matrix and ANP. Using the SWOT-ANP framework, ^{Starr et al. (2019)} concluded that the presence of healthy, resilient forests and the opportunities associated with increased revenue could be the driving forces behind active management of Cross-timbers, an ecoregion stretching from north-central Texas through central Oklahoma to southern Kansas. And recently, ^{Gao et al. (2022)} applied SWOT-ANP seeking to determine roadmaps and strategies for blockchain application in construction management in China. Also in China, ^{Zhang & Paudel (2021)} used the SWOT-ANP framework to identify the key elements and main strategies related to the management of small-scale forestry cooperatives under the Grain for green program (GFGP) in Xinjiang. Similarly in China, ^{Hu et al. (2019)} developed a SWOT-ANP model to prioritize carbon labeling policy in Taiwan. ^{Wang et al. (2021)} constructed a conceptual framework for the utilization of abandoned mine resources, the authors employed an integrated SWOT-ANP approach to explore suitable reuse strategies for these mines. ^{Agnusdei et al. (2023)} conducted a SWOT-ANP analysis, combined with the Axial Distance Based Aggregate Measurement (ADAM) method, showing the impact of digitization on driving circularity within agribusiness, and highlighting the most impactful strategies driving the transition to a circular economy. ^{Oktari et al. (2023)} selected knowledge management implementation strategies for coping with disasters and the Covid-19 pandemic in Indonesia. The authors used SWOT analysis to determine the strategies and ANP to prioritize them. Likewise, in Indonesia, ^{Ali & Kassim (2021)} trying to raise the development of waqf forests in the country, used SWOT and ANP methods to identify and prioritize the best strategy. Also in Indonesia, in order to formulate strategies to improve the e-waste management supply chain, ^{Wibowo et al. (2021)} used the Decision-Making Trial and Evaluation Laboratory (DEMATEL), ANP, SWOT, and the Quantitative Strategic Planning Matrix (QSPM). ^{Hasiba et al. (2021)} developed for Micro Waqf Bank (BWM), an Islamic microfinance institution in Indonesia, a study to define the main survival and maintenance strategies. The study employed a SWOT-ANP analysis. In another banking case, in the face of the difficulties that the European banking sector went through during and after the global financial crisis (GFC), ^{Dinçer et al. (2018)} , assessed aspects related to the sustainability of the sector and proposed competitive strategies for European policy makers. The authors applied SWOT analysis, an integrated DEMATEL-ANP model (DANP) and fuzzy TOPSIS. Finally, it is worth citing the work of ^{Zakeri et al. (2019)} , who implemented another approach complementary to SOWT in the process of strategy formulation, selection, and prioritization in unpredictable situations in a mathematical framework, known as strategy interaction model (SIM), in a dairy company located in northern Iran. The authors argue that the SIM approach possesses the advantages of AHP, ANP and other multi-criteria decision making (MCDM) techniques applied to SWOT analysis.

The usefulness of decision-making approaches is evident. They allow companies to adapt a selection method in their strategic analysis to prioritize their business actions, and also improve the benefits of SWOT in terms of the influences between the strategic elements and factors.

3. Materials and methods

First, the methodological framework is shown in Figure 3, which integrates the four combined concepts.

This methodological framework was developed in the following phases:

The modeling procedure for strategy selection (Figure 4) made it possible to work with relevant in-formation on the elements of the ANP to prioritize both generic and corporate strategies, from the identification of decision elements to the prioritization of alternatives and factors related to the decision. Figure 4 presents the structure of this methodological procedure with a process approach.

The first stage, dedicated to the identification of decision elements, was developed in the meetings with managers. Stages 2 and 3 were developed under the conceptual model of the ANP methodology, integrating the decision elements defined in stage 1. In the second stage, the identified decision elements are grouped into clusters based on their affinity to determine these. In this phase, the participating experts, acting as evaluators, determine what influence each element has and receives in relation to the others. An element of a cluster in the network may have influence on some or all of the elements of that same cluster or of a different cluster in the network. The relationship between elements in the same cluster is called feedback and the relationship between elements in different clusters is called interdependence. From these interrelationships, the network model of the problem and the inter-factor matrix of influences are constructed to continue with the paired comparison between factors and interrelated elements, and to complete the multicriteria analytical decision model. Finally, in stage 3, the decision model is processed with the support of a software, which guides the decision making, it yielded a prioritization of the strategic alternatives, both generic and corporate. In this research, by means of a proprietary application developed in Excel, the interrelationships between all the elements were explored and some relevant influence relationships were highlighted. The general conceptual model is explained below:

Structure of the network model: it consists of identifying and grouping all the elements associated with the decision in clusters called Kn (Figure 5), according to the ANP methodology proposed by ^{Saaty (2016)} in the book “Decision making in complex environments”.

Interfactorial matrix: the influence of each element eij is established for each related element eji by means of a panel of experts who determine with a score of "1" when one element influences another and "0" when no influence of any kind is evident. In Figure 5 these influences are represented by arrows, the ones entering the same cluster indicate that there are influences between the elements of the same group. This step is also part of the proposal by Rozann ^{Saaty (2016)} in her book “Decision making in complex environments”.

Paired comparison: similar to the AHP method, a pairwise comparison is made between the elements that have influences equal to 1 and in the framework of a matrix the local priority vector is obtained between the related elements, as well as to define the importance of the clusters; here, Equation 1 is followed:

Where A is the paired comparison matrix multiplied by the priority vector w of this comparison to obtain the weighted vector 𝑉𝑝 of matrix A, which, according to Equation 2, is multiplied again by the priority vector w to obtain a consistency vector 𝑉𝑐.

Then the values of 𝑉𝑐 are averaged to obtain the largest eigenvalue of A, called 𝜆𝑚á𝑥. With this value, we proceed to determine the consistency index Ci under Equation 3. The consistency index is related to the way of obtaining the vector of priorities using the geometric mean by rows procedure, which is equivalent to using the logarithmic least squares method.

Where n corresponds to the number of alternatives being evaluated. Once C_i has been calculated, the consistency coefficient 𝐶𝑅 is determined by taking the random index 𝑅𝐼 associated with the number of alter-natives proposed by ^{Saaty (1980)} in his book “The Analy-tic Hierarchy Process”, 𝑅𝐼 is the expected value of Ci, according to Equation 4. The acceptable limit of 𝐶_R is 0.1.

Where Kj corresponds to the clusters of the decision problem, eij are the elements within each cluster, and Vij represents the values of the priority vectors of the elements related by their influences organized by columns. This is a step that combines the fundamentals of Thomas ^{Saaty & compiled by Rozann Saaty (2016)} , thus generalizing the AHP method.

4. Results - application to the case study

The methodology was applied in an organization of the manufacturing sector in Colombia with the purpose of proposing a strategic direction to obtain competitive advantages in this highly competitive sector, as well as to help the organization improve its strategic decision-making model. The case study organization has a wide experience in the production of the highest quality papers and serves diverse market needs in the segments of distributors, converters, and printers by supplying a variety of formats, colors, and grammages.

However, the evolution of some environmental variables has seriously impacted the performance of the organization, for instance: (i) technological progress, which has generated a decrease in production in the printing and publishing sector; (ii) longer winter seasons, which restrict the availability of raw materials and increases production costs; and (iii) strong foreign competition, which offers products at lower cost. Together with the collateral impacts of the COVID-19 pandemic, it has led the organization to implement staff reduction strategies, which in turn has generated a tense labor climate and negative effect on productivity, leading the organization into a vicious circle.

The development of the modeling procedure is presented below.

5. Interpretation of results and discussion

According to the normalized values of the "Generic Strategies" cluster in the limit matrix provided by the software, their prioritization was obtained, as shown in Figure 7. The cost leadership strategy obtained the highest value (0.539734), followed by the differentiation strategy (0.268087), and the focus strategy (0.192179).

The competitive strategy currently pursued by the production unit is differentiation and aims at developing products that leave a higher profit margin; however, the results of this study suggest that the pursued strategy is cost leadership. This strategy is strongly influenced by the threats defined in the SWOT (Figure 8) and is largely related to the KSF "Low prices" (Figure 9).

Another result was the prioritization of corporate strategies by families or types presented in Figure 10. It indicates that the organization's situation forces it to formulate intensive strategies with the intention of gaining market share.

Within the intensive strategies, the market penetration strategy is the highest priority (0.162361) within the comprehensive analysis, followed by the product de-velopment strategy (0.1452), as shown in Table 5.

The integration strategies ranked second (0.283975), and the backward integration strategy ranked third with respect to the total number of alternatives (0.144910), as shown in Table 5.

Moreover, the results provided by the software allowed us to include an analysis of key influences related to corporate strategies. The influences between the SWOT matrix and the corporate strategies are of special interest because they are a key aspect in the formulation of the strategies. For instance, according to the weighted matrix, the market penetration strategy is strongly influenced by the opportunity (O1) Growth in demand for ecological products in other countries, and by the threat (T2) Low-cost imported product supply from other countries increase competition in the sector. Therefore, the penetration strategy that takes advantage of the opportunity (O1) and reduces the im-pact of the threat (T2) should be selected. The suggested generic strategy for this corporate strategy is obtained from the original matrix, as shown in Figure 11. It is cost leadership, which had the highest value (0.4579), followed by differentiation (0.4161). Likewise, with respect to the product development strategy, there is a strong influence from (S3) High R&D capacity and (O2) Increased demand for products for other applications. The corresponding generic strategy is cost leadership (0.5213).

Based on these results, the case study organization chose to intensify its participation in the international market through market penetration strategies, product development, and diversification related to the organic product line.

Figure 12 shows the resulting prioritization of the key success factors.

Although all the KSFs are of great relevance to achieve success in the industry, organizations define the priorities of the KSFs with respect to the focus in which they want to stand out. In this case, the factors "Low prices" and "sustainability" obtained the highest weights; therefore, the competitive and corporate strategies should be selected and formulated without affecting the priority with respect to them.

When analyzing the influences of the KSFs and using as a source the Weighted Matrix (the intermediate result of the model), it is evident that both the KSF "Low prices" in Figure 13, and "Sustainability" in Figure 14 are strongly influenced by the generic strategy of cost leadership, this validates that the production unit should follow this competitive strategy to support the intensive strategies. Furthermore, in this type of industry, the demand has been elastic with the consumption of the products, not because of the availability of substitutes-in fact, they were not identified-but because of the large market supply, the variety of presentations, quality, and prices.

6. Conclusions

The proposed methodology makes it possible to delimit the universe of strategic alternatives and, therefore, to focus the analyses and facilitate strategic decision-making for any type of organization.

The implementation of the analytical network process enabled a better use of the SWOT matrix by considering the interrelationships between strategic factors, expanding the decision framework, and ensuring the evaluation of all possible alternatives.

Integrating the two levels of strategies dealt with in strategic planning, corporate and competitive, allows the case study organization to focus on the strategic direction, i.e., how to compete, where to compete, and with what competitive advantage it is going to achieve the key success factors of the industry in which it competes.

The multi-criteria decision tool made it possible to prioritize alternatives from a systemic approach by considering the relationships between all the elements integrated into the methodological proposal. The most important contribution of this work is the study of the interrelationships between the two major types of strategies, generic and corporate, with the key success factors and the SWOT.

The field of study in which this work was developed gets wider research opportunities as markets become more complex. Considering the creation of more robust tools, easy to interpret by managers, is one of the aspects that still need to be analyzed and deepened. The methodology proposed here has an integral condition for the exercise of decision-making, where the strategy, key success factors, and business decisions were analyzed jointly.

Integrating simulation techniques and scenario analysis in highly competitive systems or industries is also an aspect of research because the SWOT analysis is a static evaluation in time, even if it is visualized in the future. When circumstances, capabilities, threats, and strategies change, it is possible that the dynamics of a competitive environment may not be evident in a single matrix.