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Fuzzy logic identifier of the short-term objectives

Author

Listed:
  • S. Aly

    (Czech University of Agriculture, Prague, Czech Republic)

  • I. Vrana

    (Czech University of Agriculture, Prague, Czech Republic)

Abstract

This article presents a new science-based approach which identifies the most effective current-period short-term objective of an enterprise, which is usually set based on the pure judgment of top management members or enterprise's experts. The method is based on fuzzy-decision-making system and makes robust utilization of enterprise's experts' knowledge, intuition and expertise. A simple illustrative example is provided to demonstrate how the method can be efficiently and effectively used in practice. The proposed approach can be used to identify the short-term objective of any profit-making-enterprise, and is specially applicable to business industries that are full of qualitative, stochastic, uncertain, and vague variables such as the case in agricultural business (e.g., agro-food companies, fertilizers, and agro-chemical producers), and industrial firms (e.g., electronics, home appliances, machine tools companies ... etc.), and is generally applicable to any other business sector.

Suggested Citation

  • S. Aly & I. Vrana, 2005. "Fuzzy logic identifier of the short-term objectives," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 51(1), pages 32-40.
    • Handle: RePEc:caa:jnlage:v:51:y:2005:i:1:id:5073-agricecon
    DOI: 10.17221/5073-AGRICECON
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