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Assessing Potential of Organizations with Fuzzy Entropy

Author

Listed:
  • Manish Aggarwal

    (IIT Jodhpur
    IIT Jodhpur)

  • R. Krishankumar

    (Amrita Vishwa Vidyapeetham)

  • K. S. Ravichandran

    (Amrita Vishwa Vidyapeetham)

  • T. Senapati

    (Southwest University)

  • R. R. Yager

    (Iona College)

Abstract

Assessing the performance of organizations in the near future has been a challenging problem because of the factors of subjective assessment of the uncertainty. To cater to such applications, a novel form of fuzzy entropy is proposed to unify the concepts of fuzzy entropy and the conventional Shannon’s entropy. The proposed entropy provides a direct and convenient framework to quantify the uncertainty associated with a firm in the near future. It is also shown that the proposed form is amenable in extending the fuzzy entropy functions to the probabilistic-fuzzy domain. Thus, the proposed form of fuzzy entropy finds a special significance in the human decision-making problems. A case study illustrates the applicability of the proposed functions in assessment of future performance of a firm.

Suggested Citation

  • Manish Aggarwal & R. Krishankumar & K. S. Ravichandran & T. Senapati & R. R. Yager, 2023. "Assessing Potential of Organizations with Fuzzy Entropy," SN Operations Research Forum, Springer, vol. 4(1), pages 1-22, March.
    • Handle: RePEc:spr:snopef:v:4:y:2023:i:1:d:10.1007_s43069-022-00178-0
    DOI: 10.1007/s43069-022-00178-0
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    References listed on IDEAS

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    1. Mandy M. Cheng & Kerry A. Humphreys, 2016. "Managing strategic uncertainty: The diversity and use of performance measures in the balanced scorecard," Managerial Auditing Journal, Emerald Group Publishing, vol. 31(4/5), pages 512-534, April.
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