An integrated method to plan, structure and validate a business strategy using fuzzy DEMATEL and the balanced scorecard

Acuña-Carvajal, Felipe; Pinto-Tarazona, Leonardo; López-Ospina, Héctor; Castro, Ricardo Abad Barros; Quezada, Luis E.; Palacio, Katherine

doi:10.1016/j.eswa.2019.01.030

Cited by 69 publications

(26 citation statements)

References 51 publications

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“…To deal with vagueness, uncertainty and lack of information and called the Fuzzy DEMATEL method, it is common in research to utilize this method with fuzzy set theory as shown in Fig. 5 ( Acuña-Carvajal et al, 2019 ). More details and information about the steps of this method can be reached in the paper of Li et al, (2020) .…”

Section: Methodsmentioning

confidence: 99%

Recovery solutions for ecotourism centers during the Covid-19 pandemic: Utilizing Fuzzy DEMATEL and Fuzzy VIKOR methods

Hosseini

Paydar

Hajiaghaei–Keshteli

2021

Expert Systems with Applications

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Obviously, the Covid-19 pandemic has huge impact on most businesses and has caused serious and countless problems for them. Therefore, providing solutions for affected businesses to recover and improve their activities during pandemic times is inevitable. In this regard, ecotourism centers are one of the businesses that went through this problem and have faced significant dilemmas in their activities. Also, reportedly, there is no related research focusing on the recovery approaches to address these obstacles relating to these kinds of businesses during the pandemic. Therefore, all of these exhorted us to do the current research. In this paper, some practical and useful action plans for ecotourism centers are firstly developed to help these businesses. To obtain the action plans, some brainstorming sessions were held consisting of tourism experts, university professors, managers, owners, and some personnel of eco-tourism centers. In order to prioritize the defined action plans, four criteria are considered. Firstly, we compute the weights of the considered criteria by the Fuzzy DEMATEL and then they are prioritized using the Fuzzy VIKOR. The findings of the current study divulge that the AP2 “Standardization of the centers” and AP3 “Estimating demand number and increasing the capacity” and AP7 “Identifying other natural tourist attractions of the region” have the highest and lowest priority to be implemented.

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Section: Methodsmentioning

confidence: 99%

Recovery solutions for ecotourism centers during the Covid-19 pandemic: Utilizing Fuzzy DEMATEL and Fuzzy VIKOR methods

Hosseini

Paydar

Hajiaghaei–Keshteli

2021

Expert Systems with Applications

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“…DEMATEL is a multi-criteria analysis method for analyzing the structure of complicated causal relationships or many possible alternatives. It can explain the link between vital goals in strategy maps by collecting knowledge base to identify causal relations (Acuña-Carvajal et al, 2019). However, the essence of the DEMATEL method is that through matrix computation to build causal relationships, so the application of DEMATEL will be more complicated due to overload calculation volume.…”

Section: Efqm (2009)mentioning

confidence: 99%

Building a Strategic Performance Management Model for Enterprises Investing to Coastal Urban Projects Toward Sustainability

Huynh

Pham

Le‐Hoai

2021

International Journal of Strategic Property Management

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In addition to the sustainable development of coastal areas, the success of local corporations investing in coastal urban projects is significantly affected by severe sea level rises and extreme disasters. Investment companies should plan which objectives need to target to reduce uncertainty in the early project stages, track project execution, and assess project output as projects complete the construction phase and start operational activities. To assist enterprises in planning, evaluating, and monitoring project performance aligning with vision and strategy, this study contributes a strategic management tool developed by integrating the Balanced Scorecard (BSC), Analytic Network Process (ANP), and Decision Making Trial and Evaluation Laboratory (DEMATEL) methods. A case study of a well-known investment corporation in Vietnam illustrates the research approach. This research appreciated stakeholder’s satisfaction as the main consequence and human resource as the most prominent cause of coastal urban projects. Furthermore, the proposed model for Vietnam in this study could be referred by other developing countries to facilitate companies to plan, measure, evaluate, and control the organizational performances for the coastal urban project success.

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“…In the next process, total influence fuzzy matrix ( T) is generated with the help of Equations (6)-(10) [58]:…”

Section: It2 Fuzzy Dematelmentioning

confidence: 99%

Multi-Faceted Analysis of Systematic Risk-Based Wind Energy Investment Decisions in E7 Economies Using Modified Hybrid Modeling with IT2 Fuzzy Sets

Qiu¹,

et al. 2020

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This study aimed to analyze the systematic risks of wind energy investments. Within this framework, E7 countries are included in the scope of the examination. A large literature review was carried out and 12 different systematic risk factors that could exist in wind energy investments were identified. The analysis process of the study consisted of two different stages. First, the specified risk criteria were weighted with the help of the interval type 2 (IT2) fuzzy decision-making trial and evaluation laboratory (DEMATEL) method. Second, E7 countries were ranked according to the risk management effectiveness in wind energy investments. In this process, the IT2 fuzzy Vlsekriterijumska Optimizacija I Kompromisno Resenje (VIKOR) approach was taken into consideration. The findings show that volatility in exchange rates and interest rates were the most important risks in wind energy investments. In addition, it was determined that China and Indonesia were the most successful countries in managing risks in wind energy investments. In contrast, India, Russia, and Turkey were determined to be the least successful. Additionally, the IT2 fuzzy technique for order preference by similarity to ideal solution (TOPSIS) method was applied as a robustness check of the extended VIKOR method. It was concluded that the ranking results of the IT2 fuzzy TOPSIS method were similar to the results of the IT2 fuzzy VIKOR. It can be understood that the proposed ranking method was consistent with the comparative analysis results. From this point of view, it was observed that countries should take measures regarding their exchange rate and interest rate risks in order to increase the efficiency in wind energy investments. In this context, companies should first ensure that they do not have a foreign exchange short position in their balance sheets by conducting an effective financial analysis. In addition, it is important to use financial derivatives to minimize the exchange rate and interest rate risks. Using these results, it will be possible to manage this risk by taking the reverse position for the existing foreign currency and interest risk. In this way, it will be possible to increase the efficiency of wind energy investments, which will contribute to the social and economic development of each respective country.Energies 2020, 13, 1423 2 of 25 their own energy resources can benefit from these resources [1]. This situation gives these countries a serious cost advantage. On the other hand, countries that do not have sufficient energy resources have to supply the energy they need from outside, which makes these countries dependent on energy. Because of this problem, countries are developing several strategies to produce their own energy [2].Renewable energy sources are an important alternative that allows countries to produce their own energy. The most important feature of these energy alternatives, which come in different forms, such as wind, solar, biomass, geothermal, and hydroelectricity, is that they obtain their resources from natur...

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An integrated method to plan, structure and validate a business strategy using fuzzy DEMATEL and the balanced scorecard

Cited by 69 publications

References 51 publications

Recovery solutions for ecotourism centers during the Covid-19 pandemic: Utilizing Fuzzy DEMATEL and Fuzzy VIKOR methods

Recovery solutions for ecotourism centers during the Covid-19 pandemic: Utilizing Fuzzy DEMATEL and Fuzzy VIKOR methods

Building a Strategic Performance Management Model for Enterprises Investing to Coastal Urban Projects Toward Sustainability

Multi-Faceted Analysis of Systematic Risk-Based Wind Energy Investment Decisions in E7 Economies Using Modified Hybrid Modeling with IT2 Fuzzy Sets

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