Arab Academy for Science, Technology and Maritime Transport

College of Engineering and Technology

CONSTRUCTION AND BUILDING ENGINEERING DEPARTMENT

APPLYING SWOT ANALYSIS TO THE EGYPTIAN REAL ESTATE INVESTMENT COMPANIES

AS BASIS FOR STRATEGIC PLANNING

Submitted By:

Eng. Mohammed Elsayed Aly Ebrahiem Elshennawy

A Thesis Submitted in Partial Fulfillment to the Requirements for the

Master's Degree In Construction Engineering and Management

Supervisor Ass. Prof. Dr. Abd El-Moniem Yassin Sanad

Head of Construction and Building Engineering Department College of Engineering

ARAB ACADEMY FOR SCIENCE & TECHNOLOGY

Examiner Prof. Dr. Ahmed Rajaie Anies

Professor of Construction Engineering & Management Faculty of Engineering

~Amo,::: ~~

Examiner Prof. Dr. Mohammed Emam Abd El-Razek

Professor of Construction Engineering & Managem' College of Engineering

ARAB ACADEMY FOR SCIENCE & TECHNOLC

Arab Academy for Science, Technology and Maritime Transport

College of Engineering and Technology

CONSTRUCTION AND BUILDING ENGINEERING DEPARTMENT

APPLYING SWOT ANALYSIS TO THE EGYPTIAN REAL ESTATE INVESTMENT COMPANIES

AS A BASIS OF STRATEGIC PLANNING

A Thesis

Submitted in Partial Fulfillment to the Requirements for the

Master of Engineering

In Construction Engineering and Management

Submitted by:

Eng. Mohammed EI-Sayed Aly Ebrahiem EI-Shennawy

Under Supervision of

Prof. Dr. Refaat Hasan Abd El-Razek

PROF. OF CONSTRCI10N lit. BUILD. ENG. DEPT.

FACU LTY OF ENGINEERING

ZAGAZIG UNlVERSlTY- EGYPT

Prof. Dr. Abd EI-Moniem Yasein Sanad

HEAD OF CONSTRCI10N lit. BUILDING DEPT.

COLLEGE OF ENGINEERING

ARAB ACADEMY FOR SCIENCE lit. TECHNOLOGY

Dr. Bany Abd El-Shakour M. Aly

ASSOCIATE PROF. CONSTRCI10N.1It. BUILDING DEPT.

FACU LTV OF ENGINEERING

ZAGAZIG UNIVERSITY - EGYPT

2011

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Dedication

I dedicate this work to:

My father's spirit, Allah's mercy be upon him.

My mother, asking her satisfaction, pleasure, and prayers.

My brothers, for all their commitment and support when I needed it most.

My sisters, for their love and appreciation.

My daughter and sons, I hope they do more better than I have done.

My extraordinary wife, for her integrity, sacrifices, principle, patience,

And all of her unwavering support no matter what.

My friends and colleagues, they always there wanting to help

whenever I needed it.

My teachers, coaches, managers, and mentors who have contributed to my

development over the years.

To all of them, I dedicate this work; they have given me a life full of love,

making such a differenc-e in my life, and support beyond measure or

remembrance.

I

ACKNOWLEDGMENT

First at all, Praise and thanks to Allah Almighty. For bringing all of these people into

my life, and for giving me everything that is good.

I would like to express my deepest gratefully acknowledge to Arab Academy for

Science, Technology and Maritime Transport for providing support to this research. I have

received incredible support from all levels of the Academy.

I especially want to thank Prof. Dr. Mohammed Emam Abd EI-Razek, Professor

and lecturer in the department of construction engineering, Collage of Engineering at

AAST, with his great efforts the program for the Master in the College of Engineering,

construction department was began. I thank him for all of his support and advice over the

years which are far more important.

Thanks are also due to Prof. Dr. Refaat Hasan Abd EI-Razek, The Professor and

lecturer in the department of construction engineering, Faculty of engineering construction

engineering at Zagazig University, for giving approval to the proposal of this research.

And to Dr. Hani Abdel-Shakour M. Aly, The lecturer in the department of construction

engineering, Faculty of engineering at Zagazig University, who suggested the subject of

this research to me, great thanks for their many worthy contributions.

I would like to express my great thanks and appreciation to Dr. Abd EI-Moneim

Yasien Sanad without whom - after the help of Allah Almighty - this research was not to

be completed. I will never forget his valuable suggestions, beneficial discussions, and

support which is impossible to fully comprehend. I sincerely thank him for reviewing,

keeping me on track, providing critical comments, and astounding attention to detail and

quality to improve this research. His talent, commitment, and friendship mean more to me.

Also, I would like to thank all of my interviewees colleagues who have responded

and contributed, so generously gave their time and willingly offered their experience and

ideas, they allowed me to speak to their employees, I benefited hugely from the

commitment of their extensive knowledge, experiences , They gave me insightful and

substantive feedback, contributed their valuable input in gathering the information of this

research and completing the study questionnaire.

II

ABSTRACT

Strategic management is concerned with managerial decisions and actions to

determine long-term prosperity of the organization. Each institution put lot of effort to

define a strategy and implement it to reach its goals with regards to its resources and

environment. Strategic planning focuses on identifying the direction for the organization to

follow, hence it is necessary for mangers and business directors to identify the strong

potential and weak elements of their companies in order to make use of their strength and

improve their weakness. Consequently it is essential for mangers and business

development directors to move on toward SWOT analysis which is the simplest

recognized tool that serves as a basis for strategic planning.

Studying the Strengths, Weakness, Opportunities and Threats for an organization

represent the scanning of internal and external environment aspects and provide

information about the firm and the environment in which it works. This is the first step in

strategic planning for a company to make use of its strengths, enhance its weaknesses,

avoid the threats and make use of the available opportunities. In the framework of this

study, the research highlighted on SWOT analysis, its origin and its applications and how

to conduct it in quantitative.

Recognized as multidimensional activity, the real estate industry involves several

other manufacturing, commercial and financial businesses. the study discuss the nature of

real estate industry in Egypt, its characteristics and features of people work in that field.

The actual study describes the analysis and its application to the real estate companies. The

search went on to discuss strategic planning and the schools that have adopted this

management culture. A survey covering seventy five firms working in the field of real

estate is carried out to define the most relevant factors affecting this industry, using the

statistical method factor analysis to identify the most important strengths, weaknesses,

threats and opportunities for the companies work in the Egyptian market and draw a

picture of this activity in Egypt.

The study aims to put its results for all interested in this industry in Egypt, as well as

to policy and decision makers in order to put a road map that help the efficiency and

improve this important industry which certainly will be reflected on the construction

industry in Egypt.

III

TABLE OF CONTENTS

Title Page

Dedication ............................................. , .. . . . . . ........... ... ... .. . ... I

Acknowledgments ... ..... .... ... ... ... . . . . . . ... . .. ... ... ... .. . ..... . ... .. . . ...... . . II

Abstract.. . . ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . . . . . . . III

Table of Content ........... , .............. .. . . ............... . .. . .. .... . .......... .. . N

List of Tables.. ............. ......................................................... XIII

List of Figures................................................ .......................... -xv

Chapter1: INTRODUCTION ................................................ 1:12

1.1 Introduction ........................................................ ,. ................ 2

1.2 Background ..................................................... , ... ... .. . . .. 2

1.2.1 Construction sector..................................................... ......... 3

1.2.2 The relationship between construction industry and

real estate .......................................................... .

1.2.3 The challenges & the environmental ........................ .

1.3 Project management ........................................................ .

1.3.1 The role ofproject manager in construction industry ........ .

1.3.2 SWOT analysis .................................................. .

1.3.3 Strategic planning .............................................. .

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1.4 About this research ...................................................... '" 6

1.4.1 Problem statement......... ........ ......... ... .......... ......... 6

1.4.2 Research questions" objectives of the study................ 7

1.4.3 Research approach" Methodology "....... .................... 7

1.4.4 Scope of research ................................................ " 10

1.4.5 The structure of the dissertation" Reader's guide".......... 11

1.5 Summary and conclusion ............................................... '" 12

Chapter 2: SWOT ANALySIS................................................ 13:40

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Title Page

2.1 Introduction .................................................................... 14

2.2 Definition of SWOT analysis.................. ............... ...... ........ 14

2.3 Background: A look back at SWOT analysis........................ ..... 15

2.4 Importance of SWOT analysis............. ... ....................... ...... 16

2.5 Criticisms of SWOT and how to avoid ..... .............................. 17

2.5.1 Criticisms of SWOT............................................... 18

2.5.2 Suggestions to avoid SWOT limitations ....................... 19

2.6 Applications of SWOT analysis................................. .......... 20

2.6.1 SWOT for defining the finn (Situational analysis )............. 21

2.6.2 SWOT for goal fonnulation (Mission statements).............. 21

2.6.3 SWOT for competition....... .......... ............ .... ............ 21

2.6.4 SWOT for knowledge strategy....................... .... ............ 22

2.6.5 SWOT for business strategic planning............... ... ......... 22

2.6.6 SWOT for marketing.................. ................. ........... 24

2.6.7 SWOT for crisis management....... ............... ...... ...... ... 24

2.6.8 SWOT as a decision-support system........................... ... 24

2.6.9 SWOT as part ofleaming process..... ........................... 25

2.6.10 SWOT as an intennediary between ext. and inl factors..... 26

2.7 Conducting a SWOT analysis ............................................ 26

2.8 Environmental scan ........................................................ 28

2.9 SWOT Elements..... ........ .......................... ........... ............ 28

2.9.1 Internal factors... ................................ ..... ............... 28

2.9.1.1 Strengths ................................. , ............. '" 29

2.9.1.2 Weaknesses................................................ 29

2.9.1.3 Possible examples for strengths and weaknesses... 29

2.9.2 External factor................................................... ... 30

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Title

2.9.2.1 OpportumtIes .......................................... .

2.9.2.2 Threats .................................................. .

2.9.2.3 Possible examples for opportunities and threats .. .

2.10 SWOT analysis and strategic planning .................................. .

2.11 Factors effecting SWOT analysis ........................................ .

2.11.1 The Formulation of SWOT Team ............................. .

2.11.2 Changes in the competitive environment.. .................. .

2.11.3 Changes in the socio-cultural environment .................. .

2.11.4 Changes in the political / legal environment... ............... .

2.11.5 Changes in the internal organizational environment.. ...... .

2.12 SWOT Matrix .............................................................. .

2.13 Samples of attempts to applying SWOT ................................... .

2.14 Summary and conclusion .................................. , ... '" .......... .

Chapter 3: REAL ESTATE ................................................. .

3.1 Introduction .................................................................. .

3.2 Definition of real estate .................................................. '"

3.3 The construction and real estate industry in Egypt ...................... .

3.4 The difference between real estate invest. and const. companies ...... .

3.5 Constructions as a context of real estate industry ....................... .

3.6 Importance of real estate activity in Egypt .............................. .

3.6.1 Solving housing crisis ................................................ .

3.6.2 Contribution to economic development ............................ .

3.6.3 Attraction offoreign investments ................................ .

3.6.4 Solve the unemployment problem ................................ .

3.6.5 Redistribution of population ...................................... ..

3.7 Briefhistory for real estate industry in Egypt .......................... ..

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Title Page

3.7.1 At the beginning of20 the century........ ............................ 50

3.7.2 The Fifties............................................................. 51

3.7.3 The Sixties............................................................ 51

3.7.4 The Seventies............................................................ 52

3.7.5 The Eighties.......................................................... 54

3.7.6 The Nineties till today............................................. 55

3.8 The overall situation........................................................ 57

3.9 Characteristics of real-estate industry........ .............................. 58

3.9.1 Generalization........................................................ 58

3.9.2 Credibility and trust................................................. 58

3.9.3 Changeability.......................................... ........... .... 58

3.10 Phases of real estate........................................................ 59

3.11 Factors affecting the real estate industry........ ...................... ... 60

3.11.1 Economic conditions.................................................. 60

3.11.2 Financial situations......... ... ............... ............... ...... 60

3.11.3 Governmental effort to improve financial situation.......... 60

3.11.4 Political decisions............... ................................... 60

3.11.5 Laws and regulations...................... ........... ................. 60

3.11.6 Mmket size.... ...... ..... ... .... ............. ........... ............ 61

3.11.7 Research and development (R&D ).... .......................... 61

3.11.8 Technology............................................................ 61

3.11.9 Demographic sources.............................................. 61

3.11.10 Supply and demand....................................... ........ 62

3.11.11 Continues improvement... ... ............. ........... ... ......... 63

3.12 Real estate cycle ... ................................... ...................... 63

3.13 Special skills for the real estate companies members...... .......... ... 66

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Title

3.13.1 Valuation ............................................................ .

3.13.2 Sales and marketing skills ......................................... .

3.13.3 Expectations ....................................................... .

3.13.4 After Sales Services ................................................. .

3.13.5 Private and public relationships network ........................ .

3.13.6 General management knowledge and skills .................... .

3.13.7 Intetpersonal skills .................................................. .

3.14 Fields of working in the real estate industry .......................... .

3.14.1 Residential ......................................................... .

3.14.2 Commercial. ....................................................... .

3.14.3 Industrial ........................................................... .

3.14.4 hnproved lots ....................................................... .

3.14.5 Governmental ..................................................... .

3.14.6 Farms ............................................................... .

3.14.7 Recreation .......................................................... .

3.14.8 Specialty investments: mini warehouses and storage ........ .

3.15 Summary and conclusion .................................................. .

Chapter 4: STRATEGIC PLANNING .................................... .

4.1 Introduction ................................................................... .

4.2 Strategic management ....................................................... .

4.3 The role of project managers .............................................. .

4.4 Planning ..................................................................... .

4.4.1 Types of planning ................................................... .

4.4.1.1 Strategic planning ......................................... .

4.4.1.2 Tactical planning .......................................... .

4.4.1.3 Operationalplanning ................. , .................... .

VIII

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Title Page

4.4.2 Definition of strategic planning..... .................. ............... 74

4.4.3 Strategic planning for project management..................... 75

4.4.4 Strategic planning for construction finns.. ..................... 76

4.4.5 The planning cycle.................... .............. ................ 76

4.4.6 The planning wheeL........................ ..................... ... 77

4.4.7 Planning requirements.............................. ........... .... 78

4.5 Historical perspective..... ........... ....................................... 78

4.5.1 The recent history of strategic planning...... ................. ... 79

4.5.1.1 The fifties................................................. 79

4.5.1.2 The sixties............... ................................. 80

4.5.1.3 The seventies............................................. 80

4.5.1.4 The eighties................................................ 81

4.5.1.5 Thenineties............................................... 81

4.5.2 Project management between past and present..... ............ 81

4.6 Importance of strategic planning..................... ... ....... ... .... ... 82

4.7 The schools of strategy... ...... ............... ... ......................... 84

4.7.1 Classic Strategic Planning........................................... 84

4.7.2 The Learning Organization....................................... 84

4.7.3 Competitive strategy............................................... 84

4.8 The ten concepts of strategic planning................................... 85

4.8.1 Why does strategic planning sometimes fail ?...................... 86

4.8.2 How to improve strategic planning?...................................... 87

4.9 Stages of strategic planning process...... .......................................... 88

4.10 Characteristics of strategic planning process.................................... 88

4.11 Strategic planning tools...... ............................................................ 89

4.12 SlJIIlJlUll)' and conclusion............................................................... 90

IX

Title

Chapter 5: ENVIRONMENTAL SCAN .................................. .

5.1 Introduction ................................................................. .

5.2 Environmental scan ........................................................ .

5 .3 Availability of resources ............................... , ................. '"

5.4 Preparation and design of the questionnaire ............................ .

5.5 Questionnaire contents .................................................... .

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5.6 Internal factors.............. .... ............................................ 95

5.6.1 Marketing........................ ..................................... 96

5.6.l.1 Effect of marketing........................................ 96

5.6.1.2 Marketing elements... ................................. ... 97

5.6.2 Financial... ........................................................... 102

5.6.2.1 Effect of financial ......................................... ,. 102

5.6.2.2 Financial elements.............. ........................... 103

5.6.3 Organizational............................................................ 106

5.6.3.1 Effect of organizational.................................... 106

5.6.3.2 Factors effecting organizational ....................... , 107

5.6.4 Manufacturing........... ............................. ............... 112

5.6.4.1 Effect of manufacturing .................................. 113

5.6.4.2 Factors effecting manufacturing process.... .......... 113

5.6.5 Technical ... .......................... ....... ............ ... ... ...... 115

5.6.5.1 Effect of technical ... ................ ............ ......... 116

5.6.5.2 Factors effected by technical............................. 116

5.7 External factors ..... , ...................... ...... ............................ 120

5.7.1 Economic............................................................. 121

5.7.1.1 Objectives of economic.................................. 121

5.7.1.2 Basic economic principles................................ 121

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Title Page

5.7.2 Political / Legal.......... ........... ...... ................ ...... ...... 125

5.7.2.1 Effect of Political / Legal on business.................. 125

5.7.2.2 Factors of political effect on business... ................. 126

5.7.3 DetIlographic................... ...... .... ........................... 130

5.7.3.1 EffectofdetIlographic................................... 131

5.7.3.2 EletIlents ofdetIlographic survey........................ 131

5.7.4 Social And Cultural............. ...... ........................... .... 134

5.7.4.1 Effect of social and cultural on business............... 134

5.7.4.2 Social and cultural factors effected on business...... 134

5.7.5 Environmental...................................................... 136

5.7.5.1 Effect of environmental................................... l37

5.7.5.2 Factors of environmental................................. 137

5.8 Summary and conclusion........................... ......................... 138

ChllJlter 6: DATA ANALYSIS............................................ ... l39:180

6.1 Introduction................................................................... 140

6.2 Data coding and entry...... .. .... .. .. . . .. .. ... .... ...... . . ... .... ... .. .. .. ... 141

6.3 Descriptive statistics for internal factors......... .... .......... ........... 143

6.4 Factor analysis........................ ................. ....................... 148

6.S Applying factor analysis to internal factors..... ....... ...... ...... .... ... 149

6.5.1 S3lII.ple adequacy................................................ ...... 150

6.5.2 Reliability................................ .... .......................... 150

6.5.3 Correlation matrix. .. .. ..... . ... .. . . . . .. .. .. . . .. .. ... .. .......... .. . ... 150

6.6 Descriptive statistics for external factors... . . .... . . ........ . ........ . .... 158

6.7 Applying factor analysis to external factors.............. ............ .... 163

6.7.1 S3lII.ple adequacy... .... ........ ............ .......... ... ............ 163

6.7.2 Reliability...... ......... .............. ............ .... ............. 163

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Title Page

6.7.3 Correlation matrix....... . .... . . .. . .. ... . ..... .. . ......... .. . . . . ...... 164

6.8 The situation in a picture................................... ................. 171

6.9 The Situation for one company............................................ 177

6.10 Summary and conclusion......... .. .. .. .. ...... ... .. .. .. ................... 180

Chapter 7: CONCLUSIONS AND RECOMMENDATIONS......... 181:190

7.1 futroduction................................................................... 182

7.2 Contribution................................................................... 182

7.3 Conclusion and discussion ...................... " ... ...................... 183

7.3.1 Strengths... .......................................................... 183

7.3.2 Weaknesses......................................................... 184

7.3.3 Opportunities...................................................... 186

7.3.4 Threats... ............................................................ 186

7.4 Suggested strategies ........................... ............................. 189

7.5 Recommendations............................................................ ...... 189

7.6 Suggestions for future work... ... . ...... .... . . .. . . . . .. . . . ......... . . . ... ... 190

REFRENCES..................................................................... 191

ANNEXES......................................................................... 203

Annex A: Questionnaire ......................................................... .

Annex B: Sample of questionnaire ( in Arabic) ........................... ..

Annex C: Statistics ................................................................ .

XII

LIST OF TABLES

Table Tide Page

1.1 The scale of rating ...... " ... . ...... .. ... . . .. ... ... . .. . ..... .............. ..... 9

2.1 SWOT analysis results....... ..... ......... .................. ............... 35

2.2 Strengths detennination (Vega. 2001).............................................. 38

2.3 Opportunities detennination (Vega. 2001) ...... '" ..... ..... .......... 39

2.4 Calculations of strategic baseline............ ......... .................... 39

3.1 Activities in the Egyptian private sector (2005-2006) ................ " 44

3.2 Sectoral distnbution of net FDI inflows......... ......................... 48

4.1 Project management between past and present................. ......... 82

6.1 Codes and its explanation ................................. , .. ....... ....... 141

6.2 Sample of answers entry in the spread sheets ............................ 142

6.3 Means and ranking of internal factors ... ....... .......................... 143

6.4 Means and ranking of the most important internal factors.......... ... 144

6.5 Descriptive statistics for the most important internal factors.......... 145

6.6 Strengths factors......... ................. ................................... 145

6.7 Weakness factors....................................... ..................... 146

6.8 KMO and Bartlett's test (Internal factors)................................ 150

6.9 Scale of variables case processing swnmary.. . .. .. .. .. ..... ......... .... 150

6.10 Reliability statistics {Internal factors) ................................... " 150

6.11 Communalities (Internal factors) .......................................... 151

6.12 Correlation matrix for internal factors ............................ ,. . . . . . .. 152

6.13 Inverse of correlation matrix for intenlal factors...... .. .............. ... Annex C

6.14 Anti-image matrices for internal factors ................................. Annex C

6.15 Reproduced correlations matrix for internal factors.................. ... Annex C

6.16 Total variance explained for internal factors ...... ....................... 154

6.17 Component matrix for internal factors ................................... 155

6.18 Extracted component matrix forintemal factors.......................... 156

6.19 Rotated component matrix for internal factors ...................... ..... 157

6.20 Component transformation matrix ..................................... '" 157

XIII

Table Title

6.21 Means and ranking of external factors ................................... .

6.22 Means and ranking of the most important external factors ............ .

6.23 Descriptive statistics for the most important external factors .......... .

6.24 Opportunities factors ...................................................... .

6.25 Threats factors .............................................................. .

6.26 KMO and Bartlett's test (External factors) .............................. .

6.27 Case processing summary (External factors) ........................... .

6.28 Reliability statistics ( External factors ) .................................. .

6.29 Communalities (External factors ) ....................................... .

6.30 Correlation matrix (External factors) ................................... .

6.31 Inverse of correlation matrix for external factors ...................... .

6.32 Anti-image matrices for external factors ................................. .

6.33 Reproduced correlations matrix for external factors ................... .

6.34 Total variance explained ................................................... .

6.35 Component matrix (External factors ) ................................... .

6.36 Extracted component matrix ( External factors ) ....................... .

6.37 Rotated Component Matrix ( External factors ) ........................ .

6.38 Component Transformation Matrix ( External factors ) ............... .

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AnnexC

AnnexC

Annex C

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6.39 The relative importance of internal and external factors............... 171

6.40 Internal factors............................................................... 172

6.41 a Internal factors ..... '........................................................ .. 173

6.41 b Internal factors............................................................... Annex C

6.42a External Factors.............................................................. 174

6.42b External Factors... ....................................... ............... ..... Annex C

6.43 Companies IDs and ( X & Y) Values..................... ............... 175

7.1 Results Of SWOT Analysis (The Study Outcomes)................... 188

XN

Figure

1.1

1.2

1.3

2.1

2.2

2.3

2.4

2.5

2.6

2.7

2.8

3.1

3.2

3.3

3.4

3.5

3.6

3.7

4.1

4.2

4.3

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4.5

5.1

5.2

LIST OF FIGURES

Tide

Overall research framework .............................................. '"

The scope of thesis research ................................................. .

The structure of thesis .................................... , ................... .

Model of strategic planning process for business .............. " ....... .

Three models oflearning cycle ................ " ........................ '"

SWOT Analysis's gatekeeper functions ................................. .

Model of basic strategic planning process ... '" ......................... .

SWOT Actions matrix ....................................................... .

SWOT Possible strategies .......... " ................................. " .. "

SWOT Discretion matrix ................................... " .............. .

Olsen's sheet" SWOT Analysis for strategic planning" .... " .......... .

The sectoral breakdown of the Egyptian economic (200712008) ..... .

Level of minimum wages in Egypt and comparator countries ........ .

Phases of real estate ......................................................... .

Traditional supply and demand cycle ........ " ............. " ............ .

Rationalized real estate development ...... '" ....... , ................. , '"

The real estate cycle ............................................. , .......... "

The supply and demand cycle with moving base values ............ " "

Structure of strategic planning methodology ...................... , ...... .

Strategic planning cycle .............. , ........ , .......................... '"

The planning Wheel. .................. , ...................... " .............. .

The three stages of strategic planning process ................. , ......... .

Stra1egic planning tools ......................................................... .

Environmental scan suggested by Stonehouse ............................ .

Groups of internal factors .................................................... .

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5.3 Product / Service analysis... ...... ......... ...... ............................ 100

5.4 Promotional activities........................ ................................ 102

5.5 Deming's Quality Chain............................................. ......... 107

5.6 Groups of External Factors...... ................... ....... ........ ........... 120

5.7 Interaction among business, government, and the public................ 126

5.8 Supply and demand...... ........................... ............................. 127

6.1 A part of questionnaire............ ............ .................. ....... ...... 140

6.2 Strengths and weaknesses factors.............................. .. . ... ... . . . 146

6.3 The most important highest internal factors...... ........................ 147

6.4 A scree plot for component of internal factors........................... 153

6.5 Opportunities and threats factors......... ......... ... ...... ................ 161

6.6 The most important highest external factors..................... ...... .... 162

6.7 A scree plot for the components of external factors...... ............... 166

6.8 The situation in a picture.................................................... 176

6.9 The case (A) of full strengths and opportunities "the ideal case" ...... 178

6.10 The case (B) of full weaknesses and opportunities....................... 178

6.11 The case (C) of full strengths and threats................................. 179

6.12 The case (D) of full weaknesses and threats.............................. 179

6.13 The case of strengths / weaknesses and opportunities / threat. .. . .. . . .. 180

XVI

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