Drawing a Strategy Canvas Using the Fuzzy Best–Worst Method

Ehsan Khanmohammadi (), Mostafa Zandieh () and Talieh Tayebi ()
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Ehsan Khanmohammadi: University of Tehran
Mostafa Zandieh: Shahid Beheshti University
Talieh Tayebi: University of Tehran

Global Journal of Flexible Systems Management, 2019, vol. 20, issue 1, No 4, 57-75

Abstract: Abstract Blue ocean strategy is a new approach to strategy-making and innovation with the aim of sustained performance and growth of the company. In this approach, an analytical and decision-making tool known as Strategy Canvas is introduced in order to create blue oceans and to innovate value. Strategy Canvas provides a basic framework for taking into account all competitive and key factors in the current industry. In this study, the proposed fuzzy best–worst method is employed as a multi-criteria decision-making method to map Strategy Canvas of a manufacturing company in Iran. The proposed method is concerned with the proposition of a new approach to eliciting the weight vector from the fuzzy pairwise comparison matrices. For this purpose, a nonlinear optimization model was proposed. After solving the model, crisp weights were extracted from the fuzzy pairwise comparison matrices. The proposed method was an execution of the best–worst method in a fuzzy environment. This method is able to carry out fewer and more consistent comparisons. This method is also capable of substituting the fuzzy AHP method.

Keywords: Fuzzy best–worst method; Multi-criteria decision analysis; Strategy Canvas (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s40171-018-0202-z

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