Fuzzy Sets in Business Management, Finance, and Economics

This book collects fifteen papers published in s Special Issue of Mathematics titled “Fuzzy Sets in Business Management, Finance, and Economics”, which was published in 2021. These paper cover a wide range of different tools from Fuzzy Set Theory and applications in many areas of Business Management and other connected fields. Specifically, this book contains applications of such instruments as, among others, Fuzzy Set Qualitative Comparative Analysis, Neuro-Fuzzy Methods, the Forgotten Effects Algorithm, Expertons Theory, Fuzzy Markov Chains, Fuzzy Arithmetic, Decision Making with OWA Operators and Pythagorean Aggregation Operators, Fuzzy Pattern Recognition, and Intuitionistic Fuzzy Sets. The papers in this book tackle a wide variety of problems in areas such as strategic management, sustainable decisions by firms and public organisms, tourism management, accounting and auditing, macroeconomic modelling, the evaluation of public organizations and universities, and actuarial modelling. We hope that this book will be useful not only for business managers, public decision-makers, and researchers in the specific fields of business management, finance, and economics but also in the broader areas of soft mathematics in social sciences. Practitioners will find methods and ideas that could be fruitful in current management issues. Scholars will find novel developments that may inspire further applications in the social sciences

Decision analysis in the UK energy supply chain risk management: tools development and application.

The aims of this thesis are developing decision-making tools for risk identification, risk causal relationships analysis, risk prioritisation, and long-term risk mitigation strategy recommendations in the UK energy supply chain. The thesis is comprised of four study phases in eight chapters. In phase I, a framework is introduced including 12 risk dimensions, and 5 classification perspectives. Then, in phase II, the Neutrosophic Revised Decision-Making Trial and Evaluation Laboratory (NR-DEMATEL) method has been utilised in order to analyse the 12 identified risk dimensions based on the causal interrelationships between them. Additionally, a novel Hesitant Expert Selection Model (HESM) to systematically assist researchers with the expert selection process is proposed. In phase III, two extensions of the original Best-Worst Method (BWM) are proposed in order to contribute to the theoretical development and application of the BWM in energy supply chain risk prioritisation. The Neutrosophic Enhanced BWM (NE-BWM) and hybrid Spanning Trees Enumeration and BWM (STE-BWM) are introduced to enhance the efficiency of the original BWM in dealing with uncertainty in experts’ subjective judgements. In phase IV, a novel stratified decision-making model is introduced. It is based on Concept of Stratification (CST), game theory and Shared Socio-economic Pathway (SSP) to deal with long-term risk mitigation planning for the most critical identified risks. The model has been applied in the region of Highland and Argyll in Scotland based on the primary data obtained from experts to prioritise flooding risk mitigation strategies which were recommended by the Scottish Environment Protection Agency (SEPA). The stratified decision-making model is aimed at taking into account both UK socio-economic situations and flooding risk impacts for the long-term decision making

Collected Papers (on Neutrosophic Theory and Applications), Volume VIII

This eighth volume of Collected Papers includes 75 papers comprising 973 pages on (theoretic and applied) neutrosophics, written between 2010-2022 by the author alone or in collaboration with the following 102 co-authors (alphabetically ordered) from 24 countries: Mohamed Abdel-Basset, Abduallah Gamal, Firoz Ahmad, Ahmad Yusuf Adhami, Ahmed B. Al-Nafee, Ali Hassan, Mumtaz Ali, Akbar Rezaei, Assia Bakali, Ayoub Bahnasse, Azeddine Elhassouny, Durga Banerjee, Romualdas Bausys, Mircea Boșcoianu, Traian Alexandru Buda, Bui Cong Cuong, Emilia Calefariu, Ahmet Çevik, Chang Su Kim, Victor Christianto, Dae Wan Kim, Daud Ahmad, Arindam Dey, Partha Pratim Dey, Mamouni Dhar, H. A. Elagamy, Ahmed K. Essa, Sudipta Gayen, Bibhas C. Giri, Daniela Gîfu, Noel Batista Hernández, Hojjatollah Farahani, Huda E. Khalid, Irfan Deli, Saeid Jafari, Tèmítópé Gbóláhàn Jaíyéolá, Sripati Jha, Sudan Jha, Ilanthenral Kandasamy, W.B. Vasantha Kandasamy, Darjan Karabašević, M. Karthika, Kawther F. Alhasan, Giruta Kazakeviciute-Januskeviciene, Qaisar Khan, Kishore Kumar P K, Prem Kumar Singh, Ranjan Kumar, Maikel Leyva-Vázquez, Mahmoud Ismail, Tahir Mahmood, Hafsa Masood Malik, Mohammad Abobala, Mai Mohamed, Gunasekaran Manogaran, Seema Mehra, Kalyan Mondal, Mohamed Talea, Mullai Murugappan, Muhammad Akram, Muhammad Aslam Malik, Muhammad Khalid Mahmood, Nivetha Martin, Durga Nagarajan, Nguyen Van Dinh, Nguyen Xuan Thao, Lewis Nkenyereya, Jagan M. Obbineni, M. Parimala, S. K. Patro, Peide Liu, Pham Hong Phong, Surapati Pramanik, Gyanendra Prasad Joshi, Quek Shio Gai, R. Radha, A.A. Salama, S. Satham Hussain, Mehmet Șahin, Said Broumi, Ganeshsree Selvachandran, Selvaraj Ganesan, Shahbaz Ali, Shouzhen Zeng, Manjeet Singh, A. Stanis Arul Mary, Dragiša Stanujkić, Yusuf Șubaș, Rui-Pu Tan, Mirela Teodorescu, Selçuk Topal, Zenonas Turskis, Vakkas Uluçay, Norberto Valcárcel Izquierdo, V. Venkateswara Rao, Volkan Duran, Ying Li, Young Bae Jun, Wadei F. Al-Omeri, Jian-qiang Wang, Lihshing Leigh Wang, Edmundas Kazimieras Zavadskas

International collaboration formation in entrepreneurial food industry: evidence of an emerging economy

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.Purpose International collaboration is a crucial requirement of entrepreneurship, particularly in developing emerging economies. This collaboration seems so necessary in the food industry as a major contributor to environmental, social and economic problems. This paper aims to identify, analyse the influential network relationship and prioritise the key success factors (KSFs) of international collaboration formation in the entrepreneurial food industry with a case study on Iran's emerging economy. Design/methodology/approach To identify a list of KSFs, a qualitative method, literature review, is initially used. A quantitative method, fuzzy-Delphi, then is employed to finalise the main KSFs based on the entrepreneurial food industry experts' opinion. To analyse the causal relationship, and prioritise the KSFs, a fuzzy decision-making trial and evaluation laboratory (DEMATEL)-analytic network process (ANP) methodology, i.e. FDANP, is applied. At the first stage, the cause–effect diagram of KSFs is extracted using fuzzy DEMATEL and then, the KSFs weights and priorities are evaluated using a fuzzy ANP. Findings The results illustrate that the characteristics of effective development workers are the leading dimension of a successful international collaboration that directly affects other dimensions. On the other hand, increased marketing and trading is the most important KSF that is directly related to international entrepreneurial collaboration team capabilities and professionalism. The leading and casual role of team members also plays a vital role in strategic and communication issues affecting the collaboration success, e.g. market research and new product development. Availability of financial resources and the ability of partners in continuous financing is also a crucial and required factor for a successful collaboration. Originality/value Using an extensive review of the literature to extract the KSFs of international entrepreneurial collaboration and finalising them using a fuzzy-Delphi method and examining the cause-effect relations between them, as well as prioritising the KSFs are the main contributions of this paper

Sustainability as a Multi-criteria Concept

Sustainability is a fairly old concept, born in the 18th century in the field of forestry, within a mono-functionality perspective. The concept has considerably evolved in the last few years towards a multi-functionality context, with applications reported in practically all areas of economic interest. On the other hand, modern sustainability is a complex problem, for two reasons: a) The multiplicity of functions of a very different nature involved in the process and b) The manner in which different segments of the society or stakeholders perceive the relative importance of these functions. For the above reasons, a realistic approach for dealing with the sustainability issue requires taking into consideration multiple criteria of different nature (economic, environmental and social), and in many cases within a participatory decision making framework. This book presents a collection of papers, dealing with different theoretical and applied issues of sustainability, with the help of a modern multi-criteria decision-making theory, with a single as well as several stakeholders involved in the decision-making process. Hopefully, this material will encourage academics and practitioners to alter their research in this hot and vital topic. After all, the sustainable management of the environment and its embedded resources is one of the most important, if not the major challenge of the 21st century

Z-Numbers-Based Approach to Hotel Service Quality Assessment

In this study, we are analyzing the possibility of using Z-numbers for measuring the service quality and decision-making for quality improvement in the hotel industry. Techniques used for these purposes are based on consumer evalu- ations - expectations and perceptions. As a rule, these evaluations are expressed in crisp numbers (Likert scale) or fuzzy estimates. However, descriptions of the respondent opinions based on crisp or fuzzy numbers formalism not in all cases are relevant. The existing methods do not take into account the degree of con- fidence of respondents in their assessments. A fuzzy approach better describes the uncertainties associated with human perceptions and expectations. Linguis- tic values are more acceptable than crisp numbers. To consider the subjective natures of both service quality estimates and confidence degree in them, the two- component Z-numbers Z = (A, B) were used. Z-numbers express more adequately the opinion of consumers. The proposed and computationally efficient approach (Z-SERVQUAL, Z-IPA) allows to determine the quality of services and iden- tify the factors that required improvement and the areas for further development. The suggested method was applied to evaluate the service quality in small and medium-sized hotels in Turkey and Azerbaijan, illustrated by the example

Reconciliation, Restoration and Reconstruction of a Conflict Ridden Country

Conflict has sadly been a constant part of history. Winning a conflict and making a lasting peace are often not the same thing. While a peace treaty ends a conflict and often dictates terms from the winners’ perspective, it may not create a lasting peace. Short of unconditional surrender, modern conflict ends with a negotiated cessation of hostilities. Such accords may have some initial reconstruction agreements, but Reconciliation, Restoration and Reconstruction (RRR) is a long term process. This study maintains that to achieve a lasting peace: 1) The culture and beliefs of the conflict nation must be continuously considered and 2) RRR is a long term effort which will occur over years not just in the immediate wake of signing a treaty or agreement. To assure the inclusion of all stakeholders and gain the best results in dealing with this “wicked problem”, an array of Operations Research techniques can be used to support the long term planning and execution of a RRR effort. The final decisions will always be political, but the analysis provided by an OR support team will guide the decision makers to better execute consensus decisions that consider all stakeholder needs. The development of the value hierarchy framework in this dissertation is a keystone of building a rational OR supported long term plan for a successful RRR. The primary aim of the research is to propose a framework and associated set of guidelines derived from appropriate techniques of OR, Decision Analysis and Project Management (right from development of a consensus based value hierarchy to its implementation, feedback and steering corrections) that may be applied to help RRR efforts in any conflict ridden country across the globe. The framework is applicable to any conflict ridden country after incorporating changes particular to any country witnessing a prolonged conflict

Fuzzy Cognitive Maps and Neutrosophic Cognitive Maps

As extension of Fuzzy Cognitive Maps are now introduced the Neutrosophic Cognitive Map

Sustainable Assessment in Supply Chain and Infrastructure Management

In the competitive business environment or public domain, the sustainability assessment in supply chain and infrastructure management are important for any organization. Organizations are currently striving to improve their sustainable strategies through preparedness, response, and recovery because of increasing competitiveness, community, and regulatory pressure. Thus, it is necessary to develop a meaningful and more focused understanding of sustainability in supply chain management and infrastructure management practices. In the context of a supply chain, sustainability implies that companies identify, assess, and manage impacts and risks in all the echelons of the supply chain, considering downstream and upstream activities. Similarly, the sustainable infrastructure management indicates the ability of infrastructure to meet the requirements of the present without sacrificing the ability of future generations to address their needs. The complexities regarding sustainable supply chain and infrastructure management have driven managers and professionals to seek different solutions. This Special Issue aims to provide readers with the most recent research results on the aforementioned subjects. In addition, it offers some solutions and also raises some questions for further research and development toward sustainable supply chain and infrastructure management