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Evaluation Of Business Scenarios By Means Of Composite Indicators

Author

Listed:
  • Castillo, C.
  • Lorenzana, T.

    (Universidad de Almería)

Abstract

Assessing business scenarios with composite indicators allows the combination of both quantitative and qualitative performance measures (PM). This paper presents a methodology for constructing composite indicators by aggregating multiple PMs to diagnose business performance. Assuming that measures are expressed in heterogeneous units, these must be normalized in scales with a common base in order to aggregate and combine data. This is achieved by modelling the opinions of experts using the linguistic approach of the Fuzzy Sets Theory. In this way we obtain the sub-indicators representing the excellence of each PM, quantified in a common scale. These sub-indicators provide the basis for the construction of a composite indicator whose value is determined by means of a fuzzy-rule-based system. This aggregation procedure avoids compensation among sub-indicators and the possible redundancy of the information they contain.

Suggested Citation

  • Castillo, C. & Lorenzana, T., 2010. "Evaluation Of Business Scenarios By Means Of Composite Indicators," Fuzzy Economic Review, International Association for Fuzzy-set Management and Economy (SIGEF), vol. 0(1), pages 3-20, May.
    • Handle: RePEc:fzy:fuzeco:v:xv:y:2010:i:1:p:3-20
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    Citations

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    Cited by:

    1. Donata Marasini & Piero Quatto & Enrico Ripamonti, 2016. "Intuitionistic fuzzy sets in questionnaire analysis," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(2), pages 767-790, March.
    2. Eleftherios Sdoukopoulos & Maria Boile, 2021. "Strengthening the Collaborative Environment in Port-Hinterland Corridor Management Initiatives: A Value System Approach," Sustainability, MDPI, vol. 13(16), pages 1-18, August.

    More about this item

    Keywords

    performance measures; aggregation of information; composite indicators; linguistic variables; fuzzy-rule-based systems;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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