Generalized Approach to Support Business Group Decision-Making by Using of Different Strategies

Abstract

The recent advances in ICT and increased market competition make the problem of business decisions more significant and more complex. This is related to the performance evaluation of a variety of business decisions that have multi-level and multi-factor features. In this regard, the current article aims to propose a generalized flexible approach to support group decision making by using different strategies. The different decision-making strategies aim to provide the most preferable alternative; several good alternatives simultaneously, or ranking of all given alternatives. These different strategies are realized via corresponding optimization models that are capable to consider differences in the knowledge and expertise of the group experts. The contribution of the descried approach is focused on the aggregation stage of the known simple multi-attribute rating technique. The applicability of the proposed approach and formulated optimization models are demonstrated in the determination of preferable offer/s for printing a book considering several different evaluation parameters. The numerical results show that imposing requirements for different strategy realization it is quite helpful to get the group decision. Furthermore, the final group decision is modelled in such a way to reflect the particular background in expertise of each group’ member.