Fuzzy logic identifier of the short-term objectives

S. Aly and I. Vrana
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S. Aly: Czech University of Agriculture, Prague, Czech Republic
I. Vrana: Czech University of Agriculture, Prague, Czech Republic

Agricultural Economics, 2005, vol. 51, issue 1, 32-40

Abstract: This article presents a new science-based approach which identifies the most effective current-period short-term objective of an enterprise, which is usually set based on the pure judgment of top management members or enterprise's experts. The method is based on fuzzy-decision-making system and makes robust utilization of enterprise's experts' knowledge, intuition and expertise. A simple illustrative example is provided to demonstrate how the method can be efficiently and effectively used in practice. The proposed approach can be used to identify the short-term objective of any profit-making-enterprise, and is specially applicable to business industries that are full of qualitative, stochastic, uncertain, and vague variables such as the case in agricultural business (e.g., agro-food companies, fertilizers, and agro-chemical producers), and industrial firms (e.g., electronics, home appliances, machine tools companies ... etc.), and is generally applicable to any other business sector.

Keywords: short-term objectives; fuzzy decision-making-system; fuzzy expert-system (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:51:y:2005:i:1:id:5073-agricecon

DOI: 10.17221/5073-AGRICECON

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