Developing hybrid SWOT methodologies for choosing joint bioeconomy co-operation priorities by three Finnish universities

Abstract

The aims of this study were two-fold: to provide decision aid for a practical bioeconomy research, development and innovation (RDI) and education challenge, and to elaborate hybrid strengths, weaknesses, opportunities, threats (SWOT) methodologies for providing tangible suggestions as to strategic choices to alleviate the challenge. Scientifically, the new methodology developed is the main result of the study, as it can be used for other strategy processes as well, while the case-wise strategic choices may not be generalized. A hybrid method was developed based on the combined use of SWOT that was enlarged by goals and actions, social choice theory and robust portfolio modelling (RPM). The method was applied to deriving joint strategic choices for developing forest bioeconomy education and RDI together by three universities in eastern Finland. A joint brainstorming process was organized in order to choose together the means to develop the co-operation efficiently and in a manner acceptable for all the universities. Voting methods and the core value calculation of RPM were used for prioritizing elements in normal SWOT, goals and actions. The most prioritized elements formed the basis for the co-operation development portfolio. The method development suggestions include, for example, a recommendation to prefer approval voting over cumulative voting in the workshop setting.