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Sustainable Evaluation of E-Commerce Companies in Vietnam: A Multi-Criteria Decision-Making Framework Based on MCDM

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  • Minh-Tai Le

    (Department of Industrial Systems Engineering, Faculty of Mechanical Engineering, Ho Chi Minh City University of Technology and Education, Ho Chi Minh City 71307, Vietnam)

Abstract

This study aims to effectively support decision-makers in evaluating leading e-commerce companies in Vietnam from a sustainability perspective. In addition, this study evaluates and analyzes criteria that affect the performance of e-commerce companies in Vietnam to find the best practices for e-commerce implementation of managers. In this way, companies can save costs and increase marketing and promotion efficiency, helping to reach more customers. In doing so, an integrated framework based on MCDM is proposed for the first time in e-commerce industry assessment. In the first stage, the fuzzy decision making trial and evaluation Laboratory method is applied to determine the weights of 9 criteria based on collected data. This study lists prominent quantitative evaluation criteria, taking into account the sustainability aspect. In the second phase, ranking the top 12 e-commerce companies in Vietnam according to their performance based on these nine criteria was done by applying the neutrosophic fuzzy axiomatic design method. According to an analysis of the data, the external financial assistance coefficient (12.7%) is the most crucial factor determining how competitive international e-commerce businesses are. The results of this study can help underperforming companies make strategic decisions to improve their performance. Integrating these two techniques provides a new method for evaluating global trading companies that have hitherto remained unaddressed in the trading industry and, therefore, leave a gap that needs to be investigated.

Suggested Citation

  • Minh-Tai Le, 2024. "Sustainable Evaluation of E-Commerce Companies in Vietnam: A Multi-Criteria Decision-Making Framework Based on MCDM," Mathematics, MDPI, vol. 12(11), pages 1-18, May.
    • Handle: RePEc:gam:jmathe:v:12:y:2024:i:11:p:1681-:d:1403911
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    References listed on IDEAS

    as
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    3. Anas A. Al-Bakri & Marios I. Katsioloudes, 2015. "The factors affecting e-commerce adoption by Jordanian SMEs," Management Research Review, Emerald Group Publishing Limited, vol. 38(7), pages 726-749, July.
    4. Tokar, Travis & Jensen, Robert & Williams, Brent D., 2021. "A guide to the seen costs and unseen benefits of e-commerce," Business Horizons, Elsevier, vol. 64(3), pages 323-332.
    5. Sheng-Li Si & Xiao-Yue You & Hu-Chen Liu & Ping Zhang, 2018. "DEMATEL Technique: A Systematic Review of the State-of-the-Art Literature on Methodologies and Applications," Mathematical Problems in Engineering, Hindawi, vol. 2018, pages 1-33, January.
    6. Anas A. Al-Bakri & Marios I. Katsioloudes, 2015. "The factors affecting e-commerce adoption by Jordanian SMEs," Management Research Review, Emerald Group Publishing Limited, vol. 38(7), pages 726-749, July.
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