scholarly journals COMBINING DRSA DECISION-RULES WITH FCA-BASED DANP EVALUATION FOR FINANCIAL PERFORMANCE IMPROVEMENTS

2015 ◽  
Vol 22 (5) ◽  
pp. 685-714 ◽  
Author(s):  
Kao-Yi SHEN ◽  
Gwo-Hshiung TZENG
Keyword(s):  
Decision Making ◽  
Financial Performance ◽  
Evaluation Model ◽  
Decision Rules ◽  
Multiple Criteria Decision Making ◽  
Formal Concept ◽  
Performance Improvements ◽  
Soft Computing Techniques ◽  
Network Process ◽  
Managerial Implications

This study proposes a combined method to integrate soft computing techniques and multiple criteria decision making (MCDM) methods to guide semiconductor companies to improve financial performance (FP) – based on logical reasoning. The complex and imprecise patterns of FP changes are explored by dominance-based rough set approach (DRSA) to find decision rules associated with FP changes. Companies may identify its underperformed criterion (gap) to conduct formal concept analysis (FCA) – by implication rules – to explore the source criteria regarding the underperformed gap. The source criteria are analysed by decision making trial and evaluation laboratory (DEMATEL) technique to explore the cause-effect relationship among the source criteria for guiding improvements; in the next, DEMATEL-based analytical network process (DANP) can provide the influential weights to form an evaluation model, to select or rank improvement plans. To illustrate the proposed method, the financial data of a real semiconductor company is used as an example to show the involved processes: from performance gaps identification to the selection of five assumed improvement plans. Moreover, the obtained implication rules can integrate with DEMATEL analysis to explore directional influences among the critical criteria, which may provide rich insights and managerial implications in practice.

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 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 Exploring R&D Influences on Financial Performance for Business Sustainability Considering Dual Profitability Objectives

2017 ◽  
Author(s):  
Kao-Yi Shen ◽  
Min-Ren Yan ◽  
Gwo-Hshiung Tzeng
Keyword(s):  
Financial Performance ◽  
Soft Computing ◽  
Evaluation Model ◽  
Hybrid Approach ◽  
Multiple Criteria Decision Making ◽  
High Tech ◽  
Computing Technique ◽  
Business Sustainability ◽  
Soft Computing Technique ◽  
Dual Objectives

The influence and importance of research and development (R&D) for business sustainability have gained increasing interests, especially in the high-tech sector. However, the efforts of R&D might cause complex and mixed impacts on the financial results considering the associated expenses. Thus, this study aims to examine how R&D efforts may influence business to improve its financial performance considering the dual objectives: the gross and the net profitability. This research integrated a rough-set-based soft computing technique and multiple criteria decision-making (MCDM) methods to explore this complex and yet valuable issue. A group of public listed companies from Taiwan, all in the semiconductor sector, was analyzed as a case study. Initially, more than 30 variables were considered, and the adopted soft computing technique retrieved 14 core attributes—for the dual profitability objectives—to form the evaluation model. The importance of R&D for pursuing superior financial prospects is confirmed, and the empirical case demonstrates how to guide an individual company to plan for improvements to achieve its long-term sustainability by this hybrid approach.

Applied Rough Set Logics for Multi-Criteria Decision Analysis in Stock Index Volatility Projection

2011 ◽  
Vol 14 (04) ◽  
pp. 715-735
Author(s):  
Wen-Rong Jerry Ho
Keyword(s):  
Decision Making ◽  
Set Theory ◽  
Rough Set ◽  
Rough Set Theory ◽  
Decision Rules ◽  
Multiple Criteria Decision Making ◽  
Stock Index ◽  
Rule Based ◽  
Set Up ◽  
Decision Making Model

The main purpose of this paper is to advocate a rule-based forecasting technique for anticipating stock index volatility. This paper intends to set up a stock index indicators projection prototype by using a multiple criteria decision making model consisting of the cluster analysis (CA) technique and Rough Set Theory (RST) to select the important attributes and forecast TSEC Capitalization Weighted Stock Index. The projection prototype was then released to forecast the stock index in the first half of 2009 with an accuracy of 66.67%. The results point out that the decision rules were authenticated to employ in forecasting the stock index volatility appropriately.

scholarly journals Evaluating and Enhancing Three-Dimensional Printing Service Providers for Rapid Prototyping Using the DEMATEL Based Network Process and VIKOR

2014 ◽  
Vol 2014 ◽  
pp. 1-16 ◽  
Author(s):  
Shin Liao ◽  
Ming-Jenn Wu ◽  
Chi-Yo Huang ◽  
Yu-Sheng Kao ◽  
Teng-Hsiang Lee
Keyword(s):  
Decision Making ◽  
Rapid Prototyping ◽  
Service Provider ◽  
Service Providers ◽  
Three Dimensional ◽  
Multiple Criteria Decision Making ◽  
Three Dimensional Printing ◽  
Network Process ◽  
Future Evaluation ◽  
Dimensional Printing

During the past years, the three-dimensional printing (3DP) has become a dominant rapid prototyping (RP) technology due to its very viable process in terms of cost, speed, and sales of related equipment. Nowadays, numerous 3DP based RP services are available. Because of the capability, service quality, and pricing of the services varies, how to select a suitable 3DP based RP service provider is very critical to the companies being engaged in new product developments. However, the issue was seldom studied. To resolve this problem, a hybrid multiple-criteria decision making (HMCDM) framework for evaluating and enhancing an appropriate 3DP based RP service provider based on the Decision Making Trial and Evaluation Laboratory (DEMATEL) based Network Process (DNP) as well as VIKOR (VIseKriterijumska Optimizacija I Kompromisno Resenje) was proposed. The analytic framework was verified as feasible by an empirical study based on the opinions being provided by 3DP and RP experts. The well-verified framework can serve as the basis of future evaluation, selection, and enhancement of 3DP based RP service providers.

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.

scholarly journals Constructing Taipei City Sports Centre Performance Evaluation Model with Fuzzy MCDM Approach Based on Views of Managers

2013 ◽  
Vol 2013 ◽  
pp. 1-13 ◽  
Author(s):  
Chen-Yang Wang ◽  
Pei-Hsuan Tsai ◽  
Hu Zheng
Keyword(s):  
Decision Making ◽  
Operations Management ◽  
Business Strategy ◽  
Evaluation Model ◽  
Management Strategies ◽  
Business Management ◽  
Practical Experience ◽  
Priority Service ◽  
Network Process ◽  
Six Dimensions

This study aims to utilize the fuzzy analytical/network process (FAHP/FANP) and decision-making trial and evaluation laboratory (DEMATEL) approach to recognize the influential indicators of sport centre business management in Taipei city’s sports centre. Twenty-three of sports centres with six-dimensions were identified from the literature review and interview with twelve experts (academic and practical experience). By considering the interrelationships among the indices, DEMATEL was used to deal with the importance and causal relationships among the evaluation indices of sports centre. Then, we employ the FAHP/FANP to determine the weight of each management criterion. Our empirical results provide two main insights: first, sports centre business management strategies comprise six-dimensions and 23 indexes; second, the FANP analysis shows that the six key factors are (in order of priority) service price, site conditions, operations management, traffic conditions, sports products, and staff quality. This study uses the FANP and DEMATEL along with mathematical computing in order to provide sports centre managers with a reliable decision-making reference and to assist them in formulating the most effective business strategy possible.

A Hybrid Multiple Criteria Decision Making Technique for Prioritizing Equipments

2010 ◽  
Vol 1 (4) ◽  
pp. 56-75 ◽  
Author(s):  
Sarojini Jajimoggala ◽  
V.V.S. Kesava Rao ◽  
Satyanarayana Beela
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Least Square Method ◽  
Multiple Criteria ◽  
Least Square ◽  
Evaluation Procedures ◽  
Reliability Centered Maintenance ◽  
Network Process ◽  
Order Preference ◽  
Pair Wise Comparison

Prioritization of equipment is an important factor for decision making to optimize maintenance management in Reliability Centered Maintenance (RCM). Many factors must be considered as part of the prioritization of equipment for maintenance activities. Consequently, evaluation procedures involve several objectives and it is often necessary to compromise among conflicting tangible and intangible factors. Multiple Criteria Decision Making (MCDM) is a useful approach to solve these problems. In this study, a hybrid model is developed for prioritizing the equipment in hybrid flow systems. The first stage involves identifying the criteria. The second stage is prioritizing the different criteria using fuzzy Analytical Network Process (ANP), in which the weight of each criterion is calculated using modified fuzzy Logarithmic Least Square Method (LLSM) to overcome the criticism of inconsistency, unbalanced scale of judgments, uncertainty and imprecision in the pair-wise comparison process, then finally ranking of equipment using fuzzy Technique for Order Preference by Similarity to Ideal Solution (TOPSIS).

IMPROVED COMMON WEIGHT DEA-BASED DECISION APPROACH FOR ECONOMIC AND FINANCIAL PERFORMANCE ASSESSMENT

2019 ◽  
Vol 26 (2) ◽  
pp. 430-448
Author(s):  
E. Ertugrul Karsak ◽  
Nazli Goker
Keyword(s):  
Decision Making ◽  
Financial Performance ◽  
Performance Assessment ◽  
Rank Order ◽  
Multiple Criteria Decision Making ◽  
Data Envelopment ◽  
Step Size ◽  
Decision Making Unit ◽  
Common Weight

Economic and financial performance assessment possesses an important role for efficient usage of available resources. In this study, a novel common weight multiple criteria decision making (MCDM) approach based on data envelopment analysis (DEA) is presented to identify the best performing decision making unit (DMU) accounting for multiple inputs as well as multiple outputs. The robustness of the developed model, which provides a rank-order with enhanced discriminatory characteristics and improved weight dispersion, is illustrated by two case studies that aim to provide economic and financial performance assessment. The first study presents an evaluation of Morgan Stanley Capital International emerging markets, whereas the second case study ranks the Turkish deposit banks using the proposed methodology as well as providing a comparative evaluation with several other approaches addressed in earlier works. The results indicate that the introduced approach guarantees to identify the best performing DMU without including a discriminating parameter requiring an arbitrary step size value in model formulation while also achieving an improved weight dispersion for inputs and outputs.

Sign in / Sign up

Export Citation Format

Share Document