The importance of nanotechnology for the development of the Algerian economy: a SWOT analysis

Abstract

Purpose. The purpose of this study is to analyzing the environment of nanotechnology, and it uses in the Algerian economy, and determining strategies for developing nanotechnology in Algeria as a strategic option for economic diversification based on the results of this analysis.
 Results. The study showed that there is an overall growth in the market share of nanotechnology, while in Algeria there is dynamism in this industry, but it is slow. The results of the study analyzing the environment for the application of nanotechnology in the Algerian economy have proven that there are strengths specific to the economy of this country in terms of the existence of energy, agricultural, water and human resources. These strengths were accompanied by opportunities linked to the large size of the Algerian market, and to the strategic geographical location of Algeria with the availability of major infrastructures. On the other hand, the application environment of this technology has weaknesses, most of which are related to organizational and management problems and technological backwardness. Four strategies have been proposed for the successful application of nanotechnology in order to develop the Algerian economy on the medium and long horizon.
 Scientific novelty. The scientific novelty of the results obtained is the treatment and the study of the possibilities of development of the Algerian economy by approaching the theme of nanotechnology as a source of economic diversification in Algeria. A strategic diagnosis of the environment for the application of this technology in the development of the Algerian economy, giving strategic solutions based on the results of this diagnosis.
 Practical value. The SWOT analysis approach has become a modern strategic analysis approach to diagnosing the environment of any important subject. In our study, the SWOT approach allowed building a clear conception of the application environment of nanotechnology as a source of economic diversification. The proposed SWOT matrix strategies can be considered as mechanisms used by decision makers in order to achieve the success of the application of nanotechnology as a source of economic diversification in Algeria.