SWOT analysis – on maintenance frameworks for SMEs

Abstract

A framework is a collection of various ideas, concepts, circumstances and beliefs that help to establish how anything will be detected, realized and constructed. It is a collection of tasks and explains how they are interconnected inside a structure. Generally, a framework is an actual or theoretical structure planned to assist as facilitation or direct the development of anything that extends the construction into anything beneficial. It can also be considered as a basic structure of hypothetical rules or principles of science. Framework development is based upon existing frameworks of SMEs (Small- and Medium-sized Enterprises) and the variable needs of the customers in the market.

Development involved in the classification of various processes resulted in the conceptual framework. In existing and available frameworks, some are trustworthy and reliable, while a lot of them are weak and not useful. This chapter considered the importance of a maintenance framework in the environment of SMEs. The main aim of SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis is to utilize firmly established methodologies – strengths, weaknesses, opportunities and threats – with the intention to identify the key elements for the maintenance framework.