Assessing Potential of Organizations with Fuzzy Entropy

Manish Aggarwal (), R. Krishankumar (), K. S. Ravichandran (), T. Senapati () and R. R. Yager ()
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Manish Aggarwal: IIT Jodhpur
R. Krishankumar: Amrita Vishwa Vidyapeetham
K. S. Ravichandran: Amrita Vishwa Vidyapeetham
T. Senapati: Southwest University
R. R. Yager: Iona College

SN Operations Research Forum, 2023, vol. 4, issue 1, 1-22

Abstract: Abstract Assessing the performance of organizations in the near future has been a challenging problem because of the factors of subjective assessment of the uncertainty. To cater to such applications, a novel form of fuzzy entropy is proposed to unify the concepts of fuzzy entropy and the conventional Shannon’s entropy. The proposed entropy provides a direct and convenient framework to quantify the uncertainty associated with a firm in the near future. It is also shown that the proposed form is amenable in extending the fuzzy entropy functions to the probabilistic-fuzzy domain. Thus, the proposed form of fuzzy entropy finds a special significance in the human decision-making problems. A case study illustrates the applicability of the proposed functions in assessment of future performance of a firm.

Keywords: Fuzzy logic; Entropy; Uncertainty; Attitudinal character; Probabilistic-fuzzy (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s43069-022-00178-0

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