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An intuitionistic fuzzy DEMATEL methodology for prioritising the components of SWOT matrix in the Iranian insurance industry

Author

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  • Amin Vafadar Nikjoo
  • Mahdi Saeedpoor

Abstract

Strengths, weaknesses, opportunities and threats (SWOT) analysis is one of the most significant analytic tools for defining corporate strategies. In spite of its popularity and common use, it has many drawbacks such as lack of quantitative basis for identifying the most important internal and external factors. In this paper, we propose a methodology based on decision-making trial and evaluation laboratory (DEMATEL) technique which can deal with the causal relationships among factors to overcome this problem. Also, in order to embrace the vagueness of human's subjective judgments we take advantage of intuitionistic fuzzy sets (IFS) theory. Finally, we applied our methodology in one of the Iranian insurance company to determine the most important components of SWOT matrix. The results determined 15 prioritised components of SWOT matrix out of 23 elements which were previously identified by our expert team. The resulting components can be utilised for defining effective strategies of the case company.

Suggested Citation

  • Amin Vafadar Nikjoo & Mahdi Saeedpoor, 2014. "An intuitionistic fuzzy DEMATEL methodology for prioritising the components of SWOT matrix in the Iranian insurance industry," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 20(4), pages 439-452.
    • Handle: RePEc:ids:ijores:v:20:y:2014:i:4:p:439-452
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    Cited by:

    1. Vaibhav S. Narwane & Rakesh D. Raut & Sachin Kumar Mangla & Manoj Dora & Balkrishna E. Narkhede, 2023. "Risks to Big Data Analytics and Blockchain Technology Adoption in Supply Chains," Annals of Operations Research, Springer, vol. 327(1), pages 339-374, August.
    2. Ocampo, Lanndon & Yamagishi, Kafferine, 2020. "Modeling the lockdown relaxation protocols of the Philippine government in response to the COVID-19 pandemic: An intuitionistic fuzzy DEMATEL analysis," Socio-Economic Planning Sciences, Elsevier, vol. 72(C).
    3. Mohamed Hanine & Omar Boutkhoum & Fatima El Barakaz & Mohamed Lachgar & Noureddine Assad & Furqan Rustam & Imran Ashraf, 2021. "An Intuitionistic Fuzzy Approach for Smart City Development Evaluation for Developing Countries: Moroccan Context," Mathematics, MDPI, vol. 9(21), pages 1-22, October.
    4. Büyüközkan, Gülçin & Güleryüz, Sezin & Karpak, Birsen, 2017. "A new combined IF-DEMATEL and IF-ANP approach for CRM partner evaluation," International Journal of Production Economics, Elsevier, vol. 191(C), pages 194-206.
    5. Alexei Pérez-Velázquez & Leandro Leysdian Oro-Carralero & Jorge Laureano Moya-Rodríguez, 2020. "Supplier Selection for Photovoltaic Module Installation Utilizing Fuzzy Inference and the VIKOR Method: A Green Approach," Sustainability, MDPI, vol. 12(6), pages 1-19, March.
    6. Dinçer, Hasan & Hacıoğlu, Ümit & Yüksel, Serhat, 2017. "Balanced scorecard based performance measurement of European airlines using a hybrid multicriteria decision making approach under the fuzzy environment," Journal of Air Transport Management, Elsevier, vol. 63(C), pages 17-33.

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