Strengths, weaknesses, opportunities, and threats (SWOT) analysis discusses the strengths, weaknesses, opportunities, and threats that are most often used in planning corporate strategy or organizational strategy (12–17). SWOT analysis, according to strategic management researchers, offers the foundation for achieving the desired alignment of organizational problems (18).

The strategy formulation process is carried out through three stages of analysis, namely, the input stage, the analysis stage, and the decision-making stage. Hendriani (19) revealed that SWOT analysis is the matching of internal and external factors with specifics, thus creating a strategic matrix; internal factors are within the control of the organization, and external factors are beyond the control of the organization. The four combinations are called SO (Strength-Opportunity), WO (Weakness-Opportunity), WT (Weakness-Threat), and ST (Strength-Threat).

According to Bolland (20), external factor analysis summary (EFAS) refers to social, technological, economic, environmental, and political aspects that can be recognized through brainstorming among strategy makers in businesses. External variables that are beneficial to the organization are known as opportunities, while those that are detrimental are known as threats. Internal factor analysis summary (IFAS) relates to the company’s internal weaknesses or strengths that can be changed, controlled, or manipulated by the company. An IFAS matrix can be formed to determine which internal factors are considered relatively important and which are less important, what are the strengths and weaknesses of the organization, and what factors should be prioritized in considering strategic decisions.

The opportunities, threats, strengths, and weaknesses faced by entrepreneurship education at universities in Bali are shown in Tables 1, 2.

What is meant by the future is the years 2023–2027, which is a future condition and situation faced by entrepreneurship education at universities in Bali.

To carry out a series of analyses of the external strategic environment, the indicators of the external strategic environment variables in the future are first weighed (Table 1)

The external strategic environment assessment is presented in Table 2. This table provides information on the types of influences faced by entrepreneurship education at universities in Bali in the future.

Most of the external environmental factors in the future will provide opportunities for entrepreneurship education at universities in Bali. This can be seen from the perception given by strategists toward the creation of many young entrepreneurs from students in the range 3–5, reflecting the value which implies that the external environment consists of the role of government / higher education, community views, IT development, opening of global product markets, and economic growth, while there are no threats.

The next analysis is to determine the weighted value of each indicator to obtain the total weighted value (Table 3).

From the results of the I-E matrix analysis, the total weight score was 4.70. From the total weighted score of 4.70 (greater than the cutoff value = 3), it can be said that in the future (2023–2027), entrepreneurship education at universities in Bali Province has many opportunities to develop with a total score of 4.70.

Based on the summary results as presented in Table 3, it can be described several things related to external strategic factors of entrepreneurship education at universities in Bali in the future, as follows:

The role of government in the future will be even greater. Moreover, the government really wants to create many young entrepreneurs and bring universities closer to the industrial world.

Over time, the views of the community and parents can be opened by seeing many examples of success stories of young entrepreneurs from among students. These success stories are able to change their views and appreciation of the entrepreneurial profession.

Of course, rapidly growing IT provides opportunities for young entrepreneurs to carry out marketing communications to various marketing domains with the use of IT, such as using various social media platforms such as Facebook, Twitter, Instagram, and others. IT-based social media will significantly expand the network or market reach of young businesses. This circumstance resulted in improved sales performance.

Access to global marketplaces will become more open in the future. This is aided by the rapid development of IT. Furthermore, with the assumption that SMEs’ abilities are improving, the use of IT is becoming more intensive, which makes the opening of the global market a chance for young entrepreneurs who originate from among students in the province of Bali.

Better local, regional, national, and international economic growth all help young entrepreneurs expand because people’s incomes are rising, their purchasing power is improving, and there are chances for young entrepreneurs to enhance their sales performance.

The future is defined as the years 2023–2027, a circumstance and situation in the future that entrepreneurship education in higher education in Bali will encounter.

The steps taken in analyzing the internal strategic environment in the future are the same as the steps in analyzing the current internal environment. From the prediction results, it appears that the weight of the variables for the future has changed because the assumptions underlying the development of entrepreneurship education at universities in Bali for the future have changed, which to achieve its goal is to produce many young entrepreneurs who are able to provide value to the community. The first step is to determine the future importance of each aspect. Table 4 shows the findings of the analysis, which demonstrate how the weights for each factor were determined.

Table 4 shows that the internal variable indicators have weights that are almost similar to the previous conditions. Only according to respondents’ perceptions, rewards for students who have succeeded in becoming entrepreneurs are given more awards so that they are the same as the best graduates, and at the time of graduation the names of students who have succeeded in becoming entrepreneurs are also mentioned.

The assessment of the internal strategic environment for the future is undergoing changes because it is assumed that in the future, entrepreneurship education at universities in Bali Province will be getting better. The results of the assessment of internal environmental variables can be seen in Table 5.

Table 5 shows that the variables that show strength for the development of entrepreneurship education at universities in Bali.

The next analysis is to determine the weighted value of each indicator to obtain the total weighted value (Table 6).

Table 6, column 5, shows the weighted value, which is the multiplication of the weight and the value, where the total score can be used to determine whether entrepreneurship education at institutions in Bali has general strengths or disadvantages. The total score result is 4.35, suggesting that entrepreneurship education at colleges in Bali will produce more entrepreneurs between 2023 and 2027.

Based on the summary results presented in Table 6, it can be described several things related to the internal strategic factors of entrepreneurship education at universities in Bali Province, as follows:

Entrepreneurship course material given to students is great because it includes an explanation of the concept of entrepreneurship, the characteristics that an entrepreneur must possess, the goals of an entrepreneur, the benefits or contributions that an entrepreneur can make, and strategies to become a superior entrepreneur, as well as the process of becoming self-employed as an entrepreneur.

The teaching staffs who teach this course are qualified because of their level of education, with the majority of them having doctoral degrees in management, then adding to numerous entrepreneurial trainings, and having expertise in the field of entrepreneurship.

The supporting facilities provided for students are great, because the university has provided both attention and financial support for students who are interested in becoming entrepreneurs.

What still needs to be improved is the teaching method which is often only filled in in the classroom. This is a bit far from the real world, so cases about an entrepreneur are only an explanation. This condition can be addressed further by directly inviting students to internships at several start-ups so that they can see the real conditions in the field to become entrepreneurs, and then the meetings in the class are balanced with 50% theory and 50% practice by doing internships in start-up companies.

Likewise, the rewards given need to be increased in value so that it can motivate the students.

The I-E matrix is used to conduct tests on the extent to which there are strengths and weaknesses, as well as opportunities and threats, that are an integral part of the internal and external strategic factors of entrepreneurship education at universities in Bali Province. The I-E matrix maps the strategic position of entrepreneurship education at higher education in the Province of Bali by referring to the numerous variables that exist in each dimension, namely, external and internal dimensions. Internal dimensions that are used as references include teaching methods, teaching materials, course objectives, support facilities, lecturer competencies, and rewards to students; and the external dimension is on the variables such as the role of government support, the public’s view of the entrepreneurial profession, the development of IT, the opening of the product market, and economic growth.

Based on the results of the analysis of internal strategic factors from entrepreneurship education at universities in Bali Province, it shows that the total score of internal strategic factors in the future will reach 4.35, which is categorized as a position classified as above average because it is less than 3.00 as a cutoff value. Analysis of internal strategic factors shows that entrepreneurship education at higher education in Bali Province is good, such as in the method of writing, learning materials, course objectives, support facilities, and competence of lecturers, as well as rewards for entrepreneurial students.

Analysis of external strategic factors from entrepreneurship education at universities in Bali Province shows that the total score of external strategic factors in the future will reach 4.70. When included in the external strategic factor matrix, it is in a position classified above the average because it is greater than the value of 3.00 as the cutoff value. These findings can be used as input for higher education leaders in the Province of Bali in making decisions to develop entrepreneurship education so that more excellent entrepreneurs can be produced. The strategic position of entrepreneurship education at universities in Bali Province in the present and future can be described in the I-E matrix(Figure 1).