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Doing business abroad: utility function model for country selection in preliminary screening phase

Author

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  • Lucia Bosáková
  • Matúš Kubák
  • Marek Andrejkovič
  • Zuzana Hajduová

Abstract

The paper presents the utility function model applicable within the first stage of starting a new business abroad. An applied auxiliary mathematical model was constructed to assist in the preliminary screening phase of the country selection process. The model is based on a comparison of countries according to utility function. This paper also illustrates a short example, where selected economic criteria serve as input data for determining the utility values of particular countries. The suggested model is parsimonious, easy to understand and, within the above mentioned context, potentially suitable for entrepreneurs from various economic sectors. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Lucia Bosáková & Matúš Kubák & Marek Andrejkovič & Zuzana Hajduová, 2015. "Doing business abroad: utility function model for country selection in preliminary screening phase," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 23(1), pages 53-68, March.
    • Handle: RePEc:spr:cejnor:v:23:y:2015:i:1:p:53-68
    DOI: 10.1007/s10100-013-0328-1
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    References listed on IDEAS

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    Cited by:

    1. Deaza, José Armando & Díaz, Néstor Fabián & Castiblanco, Suelen Emilia & María Inés Barbosa, Universidad de La Salle, 2020. "International market selection models: a literature review," Revista Tendencias, Universidad de Narino, vol. 21(2), pages 191-217, July.

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