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Drawing a Strategy Canvas Using the Fuzzy Best–Worst Method

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  • Ehsan Khanmohammadi

    (University of Tehran)

  • Mostafa Zandieh

    (Shahid Beheshti University)

  • Talieh Tayebi

    (University of Tehran)

Abstract

Blue ocean strategy is a new approach to strategy-making and innovation with the aim of sustained performance and growth of the company. In this approach, an analytical and decision-making tool known as Strategy Canvas is introduced in order to create blue oceans and to innovate value. Strategy Canvas provides a basic framework for taking into account all competitive and key factors in the current industry. In this study, the proposed fuzzy best–worst method is employed as a multi-criteria decision-making method to map Strategy Canvas of a manufacturing company in Iran. The proposed method is concerned with the proposition of a new approach to eliciting the weight vector from the fuzzy pairwise comparison matrices. For this purpose, a nonlinear optimization model was proposed. After solving the model, crisp weights were extracted from the fuzzy pairwise comparison matrices. The proposed method was an execution of the best–worst method in a fuzzy environment. This method is able to carry out fewer and more consistent comparisons. This method is also capable of substituting the fuzzy AHP method.

Suggested Citation

  • Ehsan Khanmohammadi & Mostafa Zandieh & Talieh Tayebi, 2019. "Drawing a Strategy Canvas Using the Fuzzy Best–Worst Method," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(1), pages 57-75, March.
    • Handle: RePEc:spr:gjofsm:v:20:y:2019:i:1:d:10.1007_s40171-018-0202-z
    DOI: 10.1007/s40171-018-0202-z
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    2. Sisto, Roberta & Fernández-Portillo, Luis A. & Yazdani, Morteza & Estepa-Mohedano, Lorenzo & Torkayesh, Ali Ebadi, 2022. "Strategic planning of rural areas: Integrating participatory backcasting and multiple criteria decision analysis tools," Socio-Economic Planning Sciences, Elsevier, vol. 82(PA).

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