scholarly journals Measurement of company effectiveness using analytic network process method

2017 ◽  
Vol 64 (2) ◽  
pp. 103-110
Author(s):  
Janjić Goran ◽  
Tanasić Zorana ◽  
Kosec Borut
Keyword(s):  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
The Sustainable Development ◽  
Material Resources ◽  
Weight Factors ◽  
New Business ◽  
Network Process ◽  
Management Concept ◽  
Strategic Goals ◽  
Business Conditions

AbstractThe sustainable development of an organisation is monitored through the organisation’s performance, which beforehand incorporates all stakeholders’ requirements in its strategy. The strategic management concept enables organisations to monitor and evaluate their effectiveness along with efficiency by monitoring of the implementation of set strategic goals. In the process of monitoring and measuring effectiveness, an organisation can use multiple-criteria decision-making methods as help. This study uses the method of analytic network process (ANP) to define the weight factors of the mutual influences of all the important elements of an organisation’s strategy. The calculation of an organisation’s effectiveness is based on the weight factors and the degree of fulfilment of the goal values of the strategic map measures. New business conditions influence the changes in the importance of certain elements of an organisation’s business in relation to competitive advantage on the market, and on the market, increasing emphasis is given to non-material resources in the process of selection of the organisation’s most important measures.

An Analytical Model for Evaluating Wind Turbine Types

2014 ◽  
Vol 543-547 ◽  
pp. 333-336 ◽  
Author(s):  
Amy H.I. Lee ◽  
Meng Chan Hung ◽  
W.L. Pearn ◽  
He Yau Kang
Keyword(s):  
Decision Making ◽  
Renewable Energy ◽  
Evaluation Model ◽  
Renewable Energy Sources ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Renewable Energy Resources ◽  
Network Process ◽  
Term Energy

With worldwide developments stressing the security, economy, human well-beings and environmental costs of relying heavily on fossil and nuclear energy, the demand of safe renewable energy resources is expanding consistently and tremendously in recent years. With its safe and environmental characteristics, wind energy production has become one of the fastest growing renewable energy sources in the world. While new wind power capacity is being added in more places in various countries, the installation of wind turbines is an important process for long-term energy generation. In this study, an evaluation model, which incorporates multiple criteria decision making (MCDM) methods, including decision making trial and evaluation laboratory (DEMATEL) and fuzzy analytic network process (FANP), is developed to establish interactive relationships between criteria. Fuzzy Yager ranking method is used for deffuzification. The final ranking of the alternatives is obtained, and this can provide decision-makers for references.

Integration of SWOT analysis with hybrid modified TOPSIS for the lean strategy evaluation

2016 ◽  
Vol 232 (7) ◽  
pp. 1295-1309 ◽  
Author(s):  
Suresh Prasad ◽  
Dinesh Khanduja ◽  
Surrender K Sharma
Keyword(s):  
Decision Making ◽  
Swot Analysis ◽  
Multiple Criteria Decision Making ◽  
Evaluation Process ◽  
Analytic Network Process ◽  
Foundry Industry ◽  
Strategy Evaluation ◽  
Network Process ◽  
Modified Topsis ◽  
Topsis Technique

This article deals with the lean strategy evaluation process using SWOT (strengths, weaknesses, opportunities and threats) analysis aimed at identifying lean strategies and providing an initial decision framework. It involves specifying the objective of the industry and identification of internal and external factors and its sub-factors and lean strategies, which are either favourable or unfavourable in the accomplishment of the stated objective. However, the SWOT analysis method does not provide an analytical method to evaluate the priorities of identified decisive strategic factors. To overcome this limitation, this article presents a case study in an Indian foundry industry using two multiple criteria decision-making methods, that is, analytic network process and modified TOPSIS (technique for order of preference by similarity to ideal solution), to provide a computable basis in determining the rank of lean strategies. In this approach, the analytic network process is used to calculate the priorities of identified SWOT factors and sub-factors and the modified TOPSIS is applied to rank the lean strategies. A sensitivity analysis is also provided to illustrate how ‘sensitive’ the proposed model is to changes in the priorities of SWOT factors. The results show that the quantitative SWOT analysis–based approach is a feasible and exceedingly capable method that provides vital sensitivity in evaluating the priorities of lean strategies for an Indian foundry industry and can also be employed as an effective method for many other complex decision-making processes.

Maintenance Strategy Evaluation Using ANP and Goal Programming

2012 ◽  
pp. 117-138
Author(s):  
Sarojini Jajimoggala ◽  
V. V. S. Kesava Rao ◽  
Beela Satyanarayana
Keyword(s):  
Goal Programming ◽  
Multiple Criteria Decision Making ◽  
Cost Savings ◽  
Integrated Approach ◽  
Analytic Network Process ◽  
Maintenance Strategy ◽  
Maintenance Policy ◽  
Strategy Evaluation ◽  
Network Process ◽  
Criteria Weights

An optimal maintenance strategy mix is necessary for increasing availability and reliability levels of production facilities without significantly increasing operational costs. The selection of maintenance strategies is a typical Multiple Criteria Decision-Making (MCDM) problem with conflicting goals. Consideration of interdependence among the criteria and alternative policies for maintenance strategy provides valuable cost savings and greater benefits for any hybrid flow systems. For any decision maker, it is convenient to prioritize the criteria of MCDM problems and goals of goal programming problems in fuzzy terms. This paper presents an integrated approach for maintenance policy selection, using fuzzy Analytic Network Process (ANP) within a Goal Programming, based on fuzzy preemptive priority where goal hierarchies are specified in different levels of fuzzy importance. To overcome the criticism of inconsistency, unbalanced scale of judgments and uncertainty in the pair-wise comparison process, criteria weights are determined using modified fuzzy LLSM method.

Selecting an Advertising Agency: A Multi-Criteria Decision Making Approach

2008 ◽  
Vol 12 (4) ◽  
pp. 13-22 ◽  
Author(s):  
Mohd. Nishat Faisal ◽  
Bilal Mustafa Khan
Keyword(s):  
Decision Making ◽  
Evaluation Criteria ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Advertising Agency ◽  
Product Service ◽  
Proposed Model ◽  
Network Process ◽  
Product Personality ◽  
Mcdm Method

Indian economy is evolving day by day, and with an upswing spending power of its inhabitants advertising has been emerging as one of the most effective tools for the companies to reach out to their customers. Best advertisement agencies create value through giving the product personality, developing an understanding of product/service, creating an image or memorable picture of that product and above all trying to distinguish the product apart from its competitors. Today, advertising budgets of companies are rising and thus there are numerous agencies in the market vying for their shares. But there exists no method, which can take into account numerous criterions and their impact simultaneously under consideration while selecting a best advertisement agency. Selecting an advertisement agency is a multiple criteria decision-making (MCDM) problem that requires considering large number of complex factors as multiple evaluation criteria. A robust MCDM method should consider the interactions among criteria. Analytic network process (ANP) is a relatively new MCDM method which can deal with all kinds of interactions systematically. This paper proposes an ANP based methodology for the selection of advertisement agencies. ANP is capable of measuring the relative importance that captures all indirect interactions in a network required to be considered in an advertisement agency selection and also their interactions. Additionally, the proposed model is evaluated for a case company.

scholarly journals A Hybrid Multiple Criteria Decision Making Model for Selecting the Location of Women’s Fitness Centers

2018 ◽  
Vol 2018 ◽  
pp. 1-11 ◽  
Author(s):  
Sen-Kuei Liao ◽  
Hsiao-Yin Hsu ◽  
Kuei-Lun Chang
Keyword(s):  
Decision Making ◽  
Selection Criteria ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Multiple Criteria ◽  
Fitness Centers ◽  
Location Selection ◽  
Fuzzy Delphi ◽  
Proposed Model ◽  
Network Process

Location selection is a critical problem for businesses that can determine the success of an organization. Selecting the optimal location from a pool of alternatives belongs to a multiple criteria decision making (MCDM) problem. This study employed a hybrid MCDM technique to select locations for women’s fitness centers in Taiwan. In the beginning, the fuzzy Delphi method was utilized to obtain selection criteria from interviewed senior executives. In the second stage, the decision making trial and evaluation laboratory (DEMATEL) was employed to extract interdependencies between the selection criteria within each perspective. On the basis of interdependencies between the selection criteria, the analytic network process (ANP) was used to get respective weights of each criterion. Finally, the technique for order preference by similarity to ideal solution (TOPSIS) was ranking the alternatives. To demonstrate application of the proposed model and illustrate a location selection problem, a case was conducted. The capabilities and effectiveness of the proposed model are revealed.

scholarly journals Differences in prioritization of the BSC’s strategic goals using AHP and ANP methods

2018 ◽  
Vol 42 (2) ◽  
pp. 193-217 ◽  
Author(s):  
Aleksander Janeš ◽  
Nina Begičević Ređep
Keyword(s):  
Decision Making ◽  
Balanced Scorecard ◽  
Analytic Network Process ◽  
Analytic Hierarchy ◽  
The Balanced Scorecard ◽  
Network Process ◽  
Strategic Goals ◽  
Key Issues ◽  
Hierarchy Process

The development and empirical verification of the balanced scorecard (BSC) model, using the multi-criteria decision-making methods (MCDM) called the analytic hierarchy process (AHP) and the analytic network process (ANP), are the key issues of the presented research. The paper presents the methodology of the prioritization of the BSC goals with the AHP and ANP methods. Even though the prioritization of the goals is possible with both, findings from the empirical analysis showed that the ANP is more complementary with the BSC because of the influences among the goals in the BSC. The ANP supports the modelling of those influences (through dependencies) and the AHP does not. The paper discusses special situations in prioritizing the BSC goals (understanding the ANP from the perspective of the user and the BSC with strategic goals that do not directly influence any other strategic goal) and proposes solutions. Therefore, it can be asserted that introducing the ANP to implement the BSC and vice versa, improved the decision-making approach and the quality of the obtained results. The research was based on a case study of modelling the BSC for Ydria Motors LL (YM), a manufacturing company.

scholarly journals How Should National Museums Create Competitive Advantage Following Changes in the Global Economic Environment?

2018 ◽  
Vol 10 (10) ◽  
pp. 3749 ◽  
Author(s):  
Pei-Hsuan Tsai ◽  
Chin-Tsai Lin
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Evaluation Model ◽  
Management Strategies ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Visitor Satisfaction ◽  
Network Process ◽  
National Museums ◽  
Decision Making Model

Management strategies play an important role in enhancing the competitive advantage and sustainable development of national museums. The purpose of this study is to focus on evaluating the management strategies of national museums to reduce the gaps in visitor satisfaction that are caused by the interdependence and feedback problems of the so-called BOCR dimensions (namely, benefits, opportunity, costs, and risks) and 24 criteria. This study creates a hybrid competitive advantage multiple-criteria decision-making model for national museums by integrating the decision-making trial and evaluation laboratory-based analytic network process and modified VIKOR (VlšeKriterijumska Optimizacija I Kompromisno Resenje) techniques to solve the problems. We consider five different types of national museums to illustrate how the proposed new evaluation model enhances the competitive advantage of national museums. Our results provide national museum curators with the knowledge and understanding to create promotional and marketing strategies that reduce the gaps in dimensions and criteria to satisfy visitors’ needs and to enhance their competitive advantage.

scholarly journals NAVIGATING SWOT-FANP WITH GSM METHOD TO PRIORITIZE THE STRATEGIC LOCATION

2015 ◽  
Vol 21 (1) ◽  
pp. 140-163 ◽  
Author(s):  
Yun-Huei LEE
Keyword(s):  
Decision Making ◽  
Process Analysis ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Quantitative Information ◽  
Strategic Decision ◽  
Location Selection ◽  
Network Process ◽  
Second Tier ◽  
Focus Strategy

This paper proposes a SWOT-FANP (strengths, weaknesses, opportunities, and threats – fuzzy analytic network process) analysis, together with the grand strategy matrix method (GSM) to deal with the multiple-criteria decision-making problem of location selection for a second tier city in China. This hybrid method can not only combine both qualitative and quantitative information and utilize fuzzy logic to eliminate vagueness, subjectivity, and imprecision, it can also clearly represents the competitive position of second-tier cities on a the quadrant coordinate to help an enterprise choose a strategy for development. To this end, I empirically chose a multinational pharmaceutical enterprise (MNE) as an illustrative example. The results reveal that Suzhou and Chongqing cities are in the best positions in the competition as a result of having external opportunities for development and internal competing strength. Moreover, the MNE could adopt a niche-focus strategy for the market by focusing on specific ailments to which people in Chinese communities are vulnerable to strengthen their competitive strengths. This study demonstrates and validates that such an enhanced methodology is viable and highly capable of providing enriched insights regarding strategic decision-making management in complex real-world situations.

scholarly journals A Hybrid Program Projects Selection Model for Nonprofit TV Stations

2015 ◽  
Vol 2015 ◽  
pp. 1-10 ◽  
Author(s):  
Kuei-Lun Chang
Keyword(s):  
Balanced Scorecard ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Fuzzy Delphi ◽  
Proposed Model ◽  
Network Process ◽  
Order Preference ◽  
Hybrid Program ◽  
Corporate Social

This study develops a hybrid multiple criteria decision making (MCDM) model to select program projects for nonprofit TV stations on the basis of managers’ perceptions. By the concept of balanced scorecard (BSC) and corporate social responsibility (CSR), we collect criteria for selecting the best program project. Fuzzy Delphi method, which can lead to better criteria selection, is used to modify criteria. Next, considering the interdependence among the selection criteria, analytic network process (ANP) is then used to obtain the weights of them. To avoid calculation and additional pairwise comparisons of ANP, technique for order preference by similarity to ideal solution (TOPSIS) is used to rank the alternatives. A case study is presented to demonstrate the applicability of the proposed model.

scholarly journals Key Performance Indicators Selection through an Analytic Network Process Model for Tooling and Die Industry

2021 ◽  
Vol 13 (24) ◽  
pp. 13777
Author(s):  
Diogo Rodrigues ◽  
Radu Godina ◽  
Pedro Espadinha da Cruz
Keyword(s):  
Performance Indicators ◽  
Process Model ◽  
Manufacturing Industry ◽  
Selection Process ◽  
Technological Development ◽  
Multiple Criteria Decision Making ◽  
Key Performance Indicators ◽  
Analytic Network Process ◽  
Molding Process ◽  
Network Process

In the last few decades, the fast technological development has caused high competitiveness among companies, encouraging a pursuit for strategies that allow them to gain competitive advantage, such as the monitoring of performance by using key performance indicators (KPIs). However, its selection process is complex since there are several KPIs available to evaluate performance and different relationships between them. To overcome this challenge, the use of a multiple criteria decision-making model (MCDM) was proposed, namely the analytic network process (ANP) through which a reduced number of them are prioritized. To identify which KPIs are suitable for the press cast and die manufacturing industry, a literature review was made, and 58 unique KPIs were identified. Thus, to validate the proposed methodology, a case study was carried out in an automotive press molding industry. With the implementation of the proposed ANP model it was possible to identify 9 KPIs that ensure the correct molding process monitoring, while being aligned with the Balanced Scorecard criteria. The results show that the proposed model is suitable for selecting KPIs for the molding industry.

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