CORRELATION SWOT ANALYSIS: A CASE OF ERCAN INTERNATIONAL AIRPORT IN STRATEGIC BUSINESS PLANNING AND MANAGEMENT

Abstract

The article discusses the theoretical and methodological approaches to analysis of factors affecting on internal and external environment for the formation of strategic business planning and management in corporate structure. The case is researched on the example of Ercan International Airport (EIA) in Northern Cyprus where a special attention is paid to the correlation approach in the formation of zones for defining a matrix of qualitative strategic analysis through assessment and impact of its practical application. From another avenue, the article has proposed two main aspects. The first is to evaluate general considerations in strategic planning and management. The second is an attempt to introduce a reputable SWOT model, a matrix for matching the environmental threats and opportunities with the company's weaknesses and especially its strengths. The elements of SWOT are considered to be viewed as veterans in strategic planning however what is contemporary and new is a way of description of links between these elements and basing strategies on them. Unquestionably, the philosophy of modern strategic management (as opposed to a traditional rationalism) is based on the system and situational approach. Business organization is seen as an "open" system. The main prerequisite for success is sought not inside but outside of it and the success of the activities associated with how quickly and successfully the organization adapts to the fast changing economic, socio-political, socio-cultural environment.