ABSTRACT
Understanding strategic decisions aimed at addressing regional economic issues is of increasing interest among scholars and policy makers today. However, studies that proffer effective strategies to address digital futures concerns from social and policy perspectives are timely. In light of this, this research uses strengths, weaknesses, opportunities and threats (SWOT) analysis tool to frame a regional strategy for digital futures to enhance placespecific digital connectivity and socio-economic progress. Focus group discussions and a structured questionnaire were conducted to examine a SWOT for a digital economy strategy in the Southern Downs Region in Queensland, Australia. The findings show that while the proposed regional strategies for digital futures are susceptible to internal and external forces, strategic planning makes them manageable. The study's findings also reveal that adaptive strategic planning can help regulate the effects of internal and external factors that shape individual and organizational responses to digital transformation, and that these factors promote regional competitiveness.
5. Conclusion
This article has presented a quantitative SWOT analysis, which empirically aims to explore the factors that can inform better strategic planning for digital futures in regional economies. This paper identified SWOT variables, and ranked, rated and prioritised these variables using a SWOT matrix approach. Using the quantitatively evaluated SWOT factors, a strategic planning framework for strengthening digital futures goals in regional economies is presented in this paper.
The findings of this research contribute to our understanding of more than just the process of identifying the strengths, weaknesses, opportunities and threats before proceeding to the formulation of long and short-term strategies. By ranking and prioritising the SWOT variables, the study helps to provide a foundation for the formulation of a successful digital futures strategy based on the region's competitive advantages and digital competence. From this result, it is clearly understood that both digital orientation variables and adoption variables are required simultaneously for increased digital competence in regional economies.
Based on the results, the identified strategies play a vital role in enhancing digital competency in digital futures strategies. The SWOT analysis provided information that is useful in matching a region's resources and capabilities to the competitive environment in which it operates and is, therefore, an important contribution to the strategic planning process at the local level. By summarizing and connecting the most influential SWOT variables, the study offers a digital futures strategy for strengthening a regional economy.
