**3.2 SWOT analysis**

The direct citation of the definition is as follows

*A SWOT analysis is an acronym for strengths, weaknesses, opportunities, and threats and is a structured planning method that evaluates those four elements of a projector a company. A SWOT analysis can be carried out for a company, product, place, industry, or person. It involves specifying the objective of the company or project and identifying the internal and external factors that are favourable and unfavourable to achieve that objective* [2].

#### *3.2.1 History*

Albert Humphrey, a research manager and project leader at Stanford University between the 1960s and 1970s, invents the background of SWOT analysis method. He consumed a high amount of data from different top companies for the proof of the method. The aim was the recognition and identification of the causes of corporate planning errors. The subsequent research acknowledged a specific quantity of main areas to be addressed. The method, which is to be used to explore each life-threatening area, was named SOFT. *The direct citation of the categories is as follows:*

*What is good in the present is Satisfactory, good in the future is an Opportunity; bad in the present is a Fault and bad in the future is a Threat.*


*Risk Management in Biobanks DOI: http://dx.doi.org/10.5772/intechopen.91463*

• *Threats: elements in the environment that could cause trouble for the business or project*

*Identification of SWOTs is important because they can inform later steps in planning to achieve the objective. First, decision-makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable, they must select a different objective and repeat the process* (**Figure 4**) [3].

#### *3.2.2 A practical example for biobanking*

Within the HigherKos project "CONEKT—**Co**operation, **Ne**tworking and **K**nowhow **T**ransfer between Austria, Kosovo, Albania in the field of Biobanking" for two biobanks of CEE countries, a SWOT analysis was performed to determine the strengths, weaknesses, opportunities, and threats of each partner (**Table 1**).

If specific values related to your business offerings are established within the four quadrants of SWOT analysis, a strategic plan based on the learned information could be developed.

Therefore based on the SWOT analysis, a strategy paper was developed for each country. More efficient strategies for biobanking processes and use of existing infrastructure and knowledge in research were defined (**Figure 5**).

#### **Figure 4.**

*Overview SWOT analysis. Adapted from source: https://conceptdraw.com/a462c3/preview–SWOT%20ana lysis%20matrix.*

**3.2 SWOT analysis**

*Risk Management and Assessment*

*3.2.1 History*

*follows:*

**78**

The direct citation of the definition is as follows

*unfavourable to achieve that objective* [2].

*A SWOT analysis is an acronym for strengths, weaknesses, opportunities, and threats and is a structured planning method that evaluates those four elements of a projector a company. A SWOT analysis can be carried out for a company, product, place, industry, or person. It involves specifying the objective of the company or project and identifying the internal and external factors that are favourable and*

Albert Humphrey, a research manager and project leader at Stanford University between the 1960s and 1970s, invents the background of SWOT analysis method. He consumed a high amount of data from different top companies for the proof of the method. The aim was the recognition and identification of the causes of corporate planning errors. The subsequent research acknowledged a specific quantity of main areas to be addressed. The method, which is to be used to explore each life-threatening area, was named SOFT. *The direct citation of the categories is as*

*What is good in the present is Satisfactory, good in the future is an Opportunity; bad*

• *Strengths: characteristics of the company or project that give it an advantage over others*

• *Weaknesses: characteristics of the company that place the business or project at a*

• *Opportunities: elements in the environment that the company or project could*

*in the present is a Fault and bad in the future is a Threat.*

*disadvantage relative to others*

*exploit to its advantage*


than longer-term strategic risks. These two types could be categorized as strategic

*SWOT strategies – practical example of two biobanks of CEE countries (HigherKos Project – CONEKT).*

Strategic risks are those that arise from fundamental decisions that managers/

Strategic risks are often risks that organizations may have to take in order to expand and to continue in the long term. The following section describes some

• Providers of samples do not feel recognized through scientific leadership in their collection strategy—they are worried about the scientific usage.

• The biobank is no longer the strategic flagship of the funding organization

• A scientific character in leading the biobank would complicate sample procuring

*4.1.1 Unpredictable change of the strategic focus of the funding organization*

and operational risks (**Figure 6**).

*Risk Management in Biobanks*

*DOI: http://dx.doi.org/10.5772/intechopen.91463*

strategic risks of a biobank.

**Possible reasons**

**Possible consequences**

**81**

directors take concerning organization's objectives.

• No financial support because of a small budget

• Certificate extension would be in danger

**4.1 Strategic risks**

**Figure 5.**

**Table 1.**

*SWOT analysis—example of one of the partners (HigherKos Project—CONEKT).*
