Evaluation and Ranking of Organizational Resilience Factors by Using a Two-Step Fuzzy AHP and Fuzzy TOPSIS

Danijela Tadić, Aleksandar Aleksić, Miladin Stefanović and Slavko Arsovski

Mathematical Problems in Engineering, 2014, vol. 2014, 1-13

Abstract:

We presented a novel fuzzy multicriteria decision making approach to evaluate and rank organizational resilience factors with respect to user preference orders. Due to vagueness of the decision data, the precise numerical data are inadequate for real-life business situations. Human judgements can be expressed by linguistic expressions which are modeled by fuzzy sets. The complexity of the considered problem calls for analytic methods rather than intuitive decisions. Two fuzzy multi-criteria methods are proposed for solving the treated problem: Fuzzy Analytic Hierarchical Process (FAHP) is applied to determine the relative importance of business processes and the relative importance of organizational resilience factors under each business process, and an extension of the fuzzy Technique for Order Preference by Similarity to Ideal Solution (FTOPSIS) is applied to rank the organizational resilience factors. With respect to complexity and the type of considered management problem, we introduce a modified fuzzy decision matrix. The proposed algorithm has efficiently been applied in the assessment of organizational resilience factors to small and medium enterprises of the process industry.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:418085

DOI: 10.1155/2014/418085

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