A MULTI-CRITERIA DECISION-MAKING SYSTEM BASED ON A BUILD-UP ALGORITHM

Abstract

The organization can be considered a real decision-making machine. Through the decision-making system problems are being addressed, searching for and proposing a solution and the steps to take which creates value for the organization and implicitly for its stakeholders. Whether it's about choosing the best resources, finding the best way to interact with customers, or taking the best position in front of a competitor, management has to decide. The current business environment imposes on organizations a high degree of rigor in developing strategies and a great complexity in substantiating managerial decisions in all areas of activity. This paper presents a multi-criteria decision model based on a build-up algorithm. Thus, there are correlated methods that satisfy the necessity to include complexity and uncertainty in the decision-making process in order to achieve a high level of performance in the contemporary economic and social conditions.

Keywords

• algorithm
• decision
• risk
• sustainability