Strategic Decision Selection Using Hesitant fuzzy TOPSIS and Interval Type-2 Fuzzy AHP: A case study

Abstract

Strategic decisions such as mergers, acquisitions and joint ventures have a strong effect on firm performance. In order to be successful in highly competitive environments firms have to make right and on time strategic decisions. However, the nature of making the right strategic decision is complex and unstructured since there are many factors affecting such decisions. Moreover these factors are usually hard and vague to evaluate numerically. This study tries to develop a multicriteria decision-making model which considers both the complexity and vagueness of strategic decisions. The weights of the factors are determined by interval type-2 Fuzzy Analytic Hierarchy Process (AHP) and then the best strategy is selected by Hesitant Fuzzy TOPSIS using the determined weights. An application to a multinational consumer electronics company is presented.

Keywords

• Hesitant Fuzzy Sets (HFS)
• TOPSIS
• Interval Type-2 Fuzzy sets
• AHP
• Strategic Decision Making
• Acquisitions and Mergers