Assessment of Strategies Using Analytic Network process: Case of Media Company in Latvia
Keywords:SWOT analysis, Analytic Hierarchy Process, Analytic Network Process, strategy, Media Company, Latvia
Republic of Latvia as a single state is divided into four regions, where there are socio-economical differences, depending on their location and geographical features. As one of the options contributing to the regionâ€™s economic climate and development is the use of regional media, which can be used to motivate the citizens to start they own business. This paper includes the assessment of the regional media strategies that will contribute to the growth of the business sector. Latgale region, which is less socio-economically developed, is taken as an example.Â To determine the best strategy, the authors use Aâ€™WOT hybrid method, that is a tool for company environment research and estimation. This method is a combination of two methods â€“ SWOT and Analytic Hierarchy Process that has been used since 2000. The combination of the methods allows identifying the best strategy from the offered in TOWS matrix, taking into account SWOT factors and sub-factors values and their importance in implementing the strategies. As a result, each strategy was assigned a weight that helps to create the hierarchical structure of the strategies and identify the most important strategy to promote economic status of the region with no loss of money and time.
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