IDEAS home Printed from https://ideas.repec.org/a/wut/journl/v2y2017p21-43id1311.html
   My bibliography  Save this article

Evaluating organizational antifragility via fuzzy logic. The case of an Iranian company producing banknotes and security paper

Author

Listed:
  • Ahmadreza Ghasemi

    ()

  • Mitra Alizadeh

    ()

Abstract

the antifragility concept has received high attention from researchers in recent years. Contrary to fragile systems that fail when exposed to stressors, antifragile systems prosper and gets better in response to unpredictability, volatility, randomness, chaos and disturbance. The antifragility implication is beyond resilience or robustness. The resilient system resists stresses and remains the same; while the antifragile system improves and gets better. Taleb discusses that antifragility is required for dealing with events that he called them as black swans or X-Events which are scarce, unpredictable, and extreme events. These events come as surprise and have major consequences. Antifragile was developed by Taleb in the socioeconomic context, not in industrial production. But authors think that this concept may have its largest practical utilization and be very useful if it is applied to industrial environments. Thus, we had focused on this concept in our work. In this paper, we are aiming to investigate the antifragility level in an organization. In order to perform this, authors used a case study on Iranian Security Paper Manufacturing Complex (TAKAB). Firstly a questionnaire was designed according to 7 antifragility analytical criteria using five-point Likert scale and devoted a triangular fuzzy number to each Linguistic term. In the next phase, the weight of each criterion was obtained using entropy technique. In the final stage, the Euclidean distance between the aggregation Fuzzy Antifragility Index (FAI) and each linguistic term used during this case study was calculated. Eventually based on results, the antifragility level of the organization assessed as “satisfactorily antifragile", due to the minimum Euclidean distance.

Suggested Citation

  • Ahmadreza Ghasemi & Mitra Alizadeh, 2017. "Evaluating organizational antifragility via fuzzy logic. The case of an Iranian company producing banknotes and security paper," Operations Research and Decisions, Wroclaw University of Technology, Institute of Organization and Management, vol. 2, pages 21-43.
  • Handle: RePEc:wut:journl:v:2:y:2017:p:21-43:id:1311
    as

    Download full text from publisher

    File URL: http://orduser.pwr.wroc.pl/DownloadFile.aspx?aid=1311
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. N. N. Taleb & R. Douady, 2013. "Mathematical definition, mapping, and detection of (anti)fragility," Quantitative Finance, Taylor & Francis Journals, vol. 13(11), pages 1677-1689, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yuri Biondi & Pierpaolo Giannoccolo, 2015. "Share price formation, market exuberance and financial stability under alternative accounting regimes," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 333-362, October.
    2. Evangelos Gkanatsas & Harold Krikke, 2020. "Towards a Pro-Silience Framework: A Literature Review on Quantitative Modelling of Resilient 3PL Supply Chain Network Designs," Sustainability, MDPI, Open Access Journal, vol. 12(10), pages 1-25, May.
    3. Raphaël Douady, 2019. "Managing the Downside of Active and Passive Strategies: Convexity and Fragilities," Post-Print hal-02488589, HAL.
    4. Nassim N. Taleb, 2012. "How We Tend To Overestimate Powerlaw Tail Exponents," Papers 1210.1966, arXiv.org.
    5. Taleb, Nassim Nicholas, 2020. "On the statistical differences between binary forecasts and real-world payoffs," International Journal of Forecasting, Elsevier, vol. 36(4), pages 1228-1240.
    6. Nassim Nicholas Taleb & Rupert Read & Raphael Douady & Joseph Norman & Yaneer Bar-Yam, 2014. "The Precautionary Principle (with Application to the Genetic Modification of Organisms)," Papers 1410.5787, arXiv.org.
    7. Tran, Huy T. & Balchanos, Michael & Domerçant, Jean Charles & Mavris, Dimitri N., 2017. "A framework for the quantitative assessment of performance-based system resilience," Reliability Engineering and System Safety, Elsevier, vol. 158(C), pages 73-84.
    8. Dar'io Alatorre & Carlos Gershenson & Jos'e L. Mateos, 2020. "Stocks and Cryptocurrencies: Anti-fragile or Robust?," Papers 2005.13033, arXiv.org, revised Nov 2020.
    9. Meine van Noordwijk & Erika Speelman & Gert Jan Hofstede & Ai Farida & Ali Yansyah Abdurrahim & Andrew Miccolis & Arief Lukman Hakim & Charles Nduhiu Wamucii & Elisabeth Lagneaux & Federico Andreotti , 2020. "Sustainable Agroforestry Landscape Management: Changing the Game," Land, MDPI, Open Access Journal, vol. 9(8), pages 1-38, July.
    10. Giuseppe Montesi & Giovanni Papiro, 2018. "Bank Stress Testing: A Stochastic Simulation Framework to Assess Banks’ Financial Fragility †," Risks, MDPI, Open Access Journal, vol. 6(3), pages 1-54, August.
    11. Harald de Bruijn & Andreas Größler & Nuno Videira, 2020. "Antifragility as a design criterion for modelling dynamic systems," Systems Research and Behavioral Science, Wiley Blackwell, vol. 37(1), pages 23-37, January.
    12. Samiul Hasan & Greg Foliente, 2015. "Modeling infrastructure system interdependencies and socioeconomic impacts of failure in extreme events: emerging R&D challenges," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 78(3), pages 2143-2168, September.
    13. Lalisa A. Duguma & Meine van Noordwijk & Peter A. Minang & Kennedy Muthee, 2021. "COVID-19 Pandemic and Agroecosystem Resilience: Early Insights for Building Better Futures," Sustainability, MDPI, Open Access Journal, vol. 13(3), pages 1-22, January.
    14. Raphaël Douady, 2019. "Managing the Downside of Active and Passive Strategies: Convexity and Fragilities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02488589, HAL.
    15. Atif Ansar & Bent Flyvbjerg & Alexander Budzier & Daniel Lunn, 2016. "Big is Fragile: An Attempt at Theorizing Scale," Papers 1603.01416, arXiv.org, revised Jun 2017.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wut:journl:v:2:y:2017:p:21-43:id:1311. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Piotr Wawrzynowski) The email address of this maintainer does not seem to be valid anymore. Please ask Piotr Wawrzynowski to update the entry or send us the correct email address. General contact details of provider: https://edirc.repec.org/data/iopwrpl.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.