MULTIPLE-CRITERIA CHOICE OF BUSINESS STRATEGIES – COMPARATIVE ANALYSISМср Владимир Марковић,
Др Стеван Р. Стевић |
Number 9 |
ABSTRACT
The choice of a business strategy, and therefore the means of entering a particular market, certainly presents a multiple- criteria decision, because every business strategy must be assessed and evaluated from a number of different aspects. The problem of the multicriteria analysis can be solved using different methods of multicriteria analyses, some of which are mentioned in this paper, IKOR, ELECTRE, AHP, TOPSIS and PROMETHEE. These are among the best known and most acceptable methods for solving these types of problems, and their application allows, besides selecting the optimal option, sequential classification of all available options. For the purposes of the paper we have conducted a research and offered realistic strategic options for a company whose goal is to diversify its business in the production and sale of bottled water. The reasons for investing in this branch of industry are also given, as well as criteria and different business strategies available to the company.
Keywords: business strategy, evaluation and selection of the strategy, decision-making criteria, ranking, multicriteria methods.