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Evaluating organizational antifragility via fuzzy logic. The case of an Iranian company producing banknotes and security paper

Ahmadreza Ghasemi () and Mitra Alizadeh ()

Operations Research and Decisions, 2017, vol. 2, 21-43

Abstract: the antifragility concept has received high attention from researchers in recent years. Contrary to fragile systems that fail when exposed to stressors, antifragile systems prosper and gets better in response to unpredictability, volatility, randomness, chaos and disturbance. The antifragility implication is beyond resilience or robustness. The resilient system resists stresses and remains the same; while the antifragile system improves and gets better. Taleb discusses that antifragility is required for dealing with events that he called them as black swans or X-Events which are scarce, unpredictable, and extreme events. These events come as surprise and have major consequences. Antifragile was developed by Taleb in the socioeconomic context, not in industrial production. But authors think that this concept may have its largest practical utilization and be very useful if it is applied to industrial environments. Thus, we had focused on this concept in our work. In this paper, we are aiming to investigate the antifragility level in an organization. In order to perform this, authors used a case study on Iranian Security Paper Manufacturing Complex (TAKAB). Firstly a questionnaire was designed according to 7 antifragility analytical criteria using five-point Likert scale and devoted a triangular fuzzy number to each Linguistic term. In the next phase, the weight of each criterion was obtained using entropy technique. In the final stage, the Euclidean distance between the aggregation Fuzzy Antifragility Index (FAI) and each linguistic term used during this case study was calculated. Eventually based on results, the antifragility level of the organization assessed as “satisfactorily antifragile", due to the minimum Euclidean distance.

Keywords: Antifragility; X-Events; Triangular fuzzy number; Entropy technique; Linguistic terms; Euclidean distance (search for similar items in EconPapers)
Date: 2017
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