scholarly journals Establishing Merger Feasibility Simulation Model Based on Multiple-Criteria Decision-Making Method: Case Study of Taiwan’s Property Management Industry

2021 ◽  
Vol 13 (5) ◽  
pp. 2448
Author(s):  
Li-Ming Chien ◽  
Kung-Jen Tu
Keyword(s):  
Decision Making ◽  
Utility Theory ◽  
Service Industry ◽  
Evaluation Model ◽  
Market Competition ◽  
Multiple Criteria Decision Making ◽  
Expected Utility Theory ◽  
Property Management ◽  
Analytic Hierarchy ◽  
Modified Delphi

The purpose of this study is to propose a feasible operational evaluation model for property mergers. It is expected that through the merger of enterprises, the comprehensive improvement of business management and the promotion of logistics supply resources will be effectively promoted, so that enterprises can effectively reduce operating costs and achieve maximum profits. This study uses the modified Delphi method and analytic hierarchy process method to find out the key factors of the common dilemmas in Taiwan’s property management companies, and the weight of their impact on the operation. Finally, we use the expected utility theory to develop a valuation model for whether the property is suitable for integration, and to evaluate this, the result is used as a reference indicator for merger operations. After 30 years of vigorous development in Taiwan’s property management companies, due to fierce market competition, most of the companies have reduced their profitability in the face of common dilemmas. The study found that the merger model should be accurately evaluated by the evaluation model. The sharing of logistics resources can indeed bring about the benefits of investment and marketing to the merger, and improve the profitability of the company. At the time of writing, there is no research on such a combined analysis of the property management industry in Taiwan. This research method uses multiple decision analysis theory and utility theory to develop a decision-making model that is suitable for consolidation. It can also be applied to the assessment of mergers in other fields, such as the clean service industry, real estate brokerage and other industry merger assessments. This is also the biggest contribution of this research paper.

Learning from failures: Design improvements using a multiple criteria decision-making process

2003 ◽  
Vol 217 (4) ◽  
pp. 207-216 ◽  
Author(s):  
G G Davidson ◽  
A W Labib
Keyword(s):  
Decision Making ◽  
Failure Modes ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Mathematical Representation ◽  
Analytic Hierarchy ◽  
Proposed Model ◽  
Invaluable Tool ◽  
History Of

This paper proposes a new concept of decision analysis based on a multiple criteria decision making (MCDM) process. This is achieved through the provision of a systematic and generic methodology for the implementation of design improvements based on experience of past failures. This is illustrated in the form of a case study identifying the changes made to Concorde after the 2000 accident. The proposed model uses the analytic hierarchy process (AHP) mathematical model as a backbone and integrates elements of a modified failure modes and effects analysis (FMEA). The AHP has proven to be an invaluable tool for decision support since it allows a fully documented and transparent decision to be made with full accountability. In addition, it facilitates the task of justifying improvement decisions. The paper is divided as follows: the first section presents an outline of the background to the Concorde accident and its history of related (non-catastrophic) malfunctions. The AHP methodology and its mathematical representation are then presented with the integrated FMEA applied to the Concorde accident. The case study arrives at the same conclusion as engineers working on Concorde after the accident: that the aircraft may fly again if the lining of the fuel tanks are modified.

Fuzzy multi-criteria decision-making: An entropy-based approach to assess tourism sustainability

2019 ◽  
pp. 135481661988520
Author(s):  
Joseph Andria ◽  
Giacomo di Tollo ◽  
Raffaele Pesenti
Keyword(s):  
Decision Making ◽  
Evaluation Criteria ◽  
Multiple Criteria Decision Making ◽  
Data Envelopment ◽  
Analytic Hierarchy ◽  
Entropy Maximization ◽  
Tourist Destinations ◽  
Hierarchy Process ◽  
Direct Applicability

In this article, we propose a method for ranking tourist destinations and evaluating their performances under a sustainability perspective: a fuzzy multiple criteria decision-making method is applied for determining sustainability performance values and ranking destinations accordingly. We select a set of sustainability evaluation criteria and use a fuzzy analytic hierarchy process to weight the selected criteria. We also optimize each evaluator’s membership function support by means of a fuzzy entropy maximization criteria. A case study is illustrated and results are compared with two data envelopment analysis–based models. The simplicity of the proposed approach along with the easy readability of the results allow its direct applicability for all involved stakeholders.

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.

scholarly journals Applying the Multi-Criteria Decision-Making Approach for Lawyer Selection from Law Firms’ Perspective in China

Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1370
Author(s):  
Chin-Tsai Lin ◽  
Ching-Chiang Yeh ◽  
Fan Ye
Keyword(s):  
Decision Making ◽  
Evaluation Model ◽  
Hybrid Approach ◽  
Law Firms ◽  
Multi Criteria Decision Making ◽  
Human Resource Managers ◽  
Law Firm ◽  
Analytic Hierarchy ◽  
Resource Managers ◽  
Hierarchy Process

This study proposes a novel evaluation model for lawyer selection incorporating the lawyer’s backbone leadership attitude employing the hybrid multi-criteria decision-making (MCDM) approach. In the proposed approach, the lawyer’s backbone leadership attitude is employed as an evaluation factor in the evaluation model for lawyer selection from law firms’ perspective. In this paper, a hybrid approach based on the Delphi technique and analytic hierarchy process (AHP) is proposed to manage qualitative and quantitative criteria for selecting the best alternative lawyer for law firms in China. Finally, a law firm in China is carried out to verify the feasibility of the proposed approach. Based on the result, the backbone leadership does provide valuable information in the evaluation model for lawyer selection. The results also revealed that the proposed approach would help law firms and human resource managers to understand and develop strategies to hire a lawyer.

scholarly journals Expected Utility Theory for Monitoring-Based Decision-Making

2016 ◽  
Vol 104 (8) ◽  
pp. 1647-1661 ◽  
Author(s):  
Carlo Cappello ◽  
Daniele Zonta ◽  
Branko Glisic
Keyword(s):  
Decision Making ◽  
Expected Utility ◽  
Utility Theory ◽  
Expected Utility Theory

Improving risk evaluation in FMEA with a hybrid multiple criteria decision making method

2015 ◽  
Vol 32 (7) ◽  
pp. 763-782 ◽  
Author(s):  
Hu-Chen Liu ◽  
Jian-Xin You ◽  
Xue-Feng Ding ◽  
Qiang Su
Keyword(s):  
Decision Making ◽  
Failure Modes ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Analytic Hierarchy ◽  
Effect Analysis ◽  
Maintenance Strategies ◽  
Content Type ◽  
Safety And Reliability ◽  
Hierarchy Process

Purpose – The purpose of this paper is to develop a new failure mode and effect analysis (FMEA) framework for evaluation, prioritization and improvement of failure modes. Design/methodology/approach – A hybrid multiple criteria decision-making method combining VIKOR, decision-making trial and evaluation laboratory (DEMATEL) and analytic hierarchy process (AHP) is used to rank the risk of the failure modes identified in FMEA. The modified VIKOR method is employed to determine the effects of failure modes on together. Then the DEMATEL technique is used to construct the influential relation map among the failure modes and causes of failures. Finally, the AHP approach based on the DEMATEL is utilized to obtain the influential weights and give the prioritization levels for the failure modes. Findings – A case study of diesel engine’s turbocharger system is provided to illustrate the potential application and benefits of the proposed FMEA approach. Results show that the new risk priority model can be effective in helping analysts find the high risky failure modes and create suitable maintenance strategies. Practical implications – The proposed FMEA can overcome the shortcomings and improve the effectiveness of the traditional FMEA. Particularly, the dependence and interactions between different failure modes and effects have been addressed by the new failure analysis method. Originality/value – This paper presents a systemic analytical model for FMEA. It is able to capture the complex interrelationships among various failure modes and effects and provide guidance to analysts by setting the suitable maintenance strategies to improve the safety and reliability of complex systems.

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