AI Summary & Key Takeaways
AI InsightThis study shows the potential policies ranked by different multi-criteria decision-making methods for simplifying the decision-making process.
📌 3 Key Takeaways
Abstract
Decision making and policy development is an important process for organizations, since the consequences of given decisions were identified among the major risk factors for organizations’ future. This study aims to prove the importance of using combined decision making methods for a successful and strong decision making for managers. We integrate the multi-criteria decision making methods into a strengths, weaknesses, opportunities and threats (SWOT) analysis framework to show the applicability of the proposed method in a ceramic manufacturing firm in Kayseri, Turkey. Multi-criteria decision making processes were applied for taking quick action for future policies. SWOT analysis is used to optimize potential policies. Then, multi-criteria decision making methods: Analytical Hierarchy Process (AHP), The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) and Grey Relational Analysis (GRA) are used in order to determine the importance of each potential policy. Determining the importance of the policies also gives the best solution for each method. This study shows the potential policies ranked by different multi-criteria decision-making methods for simplifying the decision-making process.