Use of the Analytic Hierarchy Process and Selected Methods in the Managerial Decision-Making Process in the Context of Sustainable Development

Štofková, Zuzana; Krejnus, Matej; Štofková, Katarína Repková; Malega, Peter; Biňasová, Vladimíra

doi:10.20944/preprints202207.0153.v2

2022

DOI: 10.20944/preprints202207.0153.v2

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Use of the Analytic Hierarchy Process and Selected Methods in the Managerial Decision-Making Process in the Context of Sustainable Development

Zuzana Štofková¹,

Matej Krejnus²,

Katarína Repková Štofková³

et al.

Abstract: This article describes the Analytic Hierarchy Process (AHP) method which can be calculated by several methods. The AHP method is essential for the managerial decision-making to recognize which method is efficient for the calculation and to determine the proper order of criteria. In the article there are included methods that can be used in order to calculate the matrix in the AHP process for setting criteria such as Geometric mean, Arithmetic mean, Row sum of the adjusted the Saaty matrix, Reverse sums of the … Show more

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Cited by 6 publications

References 28 publications

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Ranking the Importance of Marketing Strategies in Building Client Loyalty

Linh Huynh

2024

MMI

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The current article reviews the opinions and counterarguments within the scientific argument on the causal linkage between the components of marketing strategy and client loyalty. The systematization of the literary sources demonstrated that the causal connections from the components of marketing strategy to client loyalty are different. However, nearly none of the research projects have rated and compared the differences among the components of marketing strategies in improving client loyalty. Therefore, the key purpose of this article is to weigh the relative importance of the components of marketing strategy to client loyalty. The current research developed research hypotheses based on experiential learning theory, resource dependency theory, and social exchange theory. Vietnam was chosen as a case study because it is one of the fastest emerging economies. The research data were gathered by employing a structured questionnaire. For this research, responses from 210 enterprises were collected using the simple random sampling method from 1128 firms publicly listed on the main stock exchanges in Vietnam. Finally, this research yielded 222 suitable replies with satisfactory compulsory information. Then, this project employed the procedures of the analytic hierarchy to assess the comparative importance of the components of Product, Price, Place and Promotion of marketing strategy to client loyalty. The results show that Price strategy is first, Pricing is second, Sales promotion is third, Advertising is fourth, Allowances is fifth, Discounts is sixth, Public relations is seventh, Channels is eighth, Direct marketing is ninth, Payment terms are tenth, Features are eleventh, Quality is twelfth, Market coverage is thirteenth,Assortment is fourteenth, Branding is fifteenth, Packaging is sixteenth, Location is seventeenth, Inventory is eighteenth,Sercies is nineteenth, Warranties is twentieth, and Transport is the last in improving client loyalty. This research is expected to provide researchers with a better understanding of the comparative significance among the components of marketing strategy for client loyalty. The results of the current research can also support business executives by helping them make better decisions on suitably planning the components of Product, Price, Place and Promotion of marketing strategy in business so that they can gain the best possible efficiency.

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Ranking the Importance of Marketing Strategies in Building Client Loyalty

Linh Huynh

2024

MMI

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Advanced Logistics Strategy of a Company to Create Sustainable Development in the Industrial Area

et al. 2022

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Strategic management determines the direction of a company for several years ahead. Managers and business owners who create strategies must anticipate and be able to see systemically. Logistics is a fundamental process in the industrial field, and despite the constant emphasis on importance, companies encounter problems in this area. A prerequisite for properly functioning logistics for companies operating in the industrial sector is an appropriately chosen logistics strategy, which is the subject of this work. The first part summarizes the theoretical basis for strategy and logistics, current trends, and influencing logistics processes. The second chapter analyzes the current state of logistics strategy development and summarizes its problem areas at the same time. The focal part of the contribution is the innovative proposal of the methodology for developing the logistics strategy in the industrial area through a progressive approach. The methodology is partially verified. The proposed methodology offers companies the opportunity to evaluate the current state of the logistics system correctly, select the correct elements of the external and internal environment affecting logistics processes, define goals and limitations, choose the right indicators that will enable the evaluation of the implemented strategy, formulate a strategy that will reflect the requirements of the company and include new technologies, correctly create the framework of the strategy implementation project, and, finally, visualize and evaluate the selected indicators during and after the implementation of the strategy. Among the created variants of the logistics strategy is the introduction of elements that will lead to the gradual development of the Industry 4.0 trend in a company.

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Digitalisation in Bioeconomy in the Baltic States and Poland

Zeverte-Rivza,

Girdziute,

Parlińska

et al. 2023

Sustainability

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The agricultural and food production sectors have a predominant role in the bioeconomy of the European Union (EU), followed by wood production. These sectors make significant contributions not only to national economies but also to local areas, in particular the rural ones. Although the digitalisation of businesses within the bioeconomy sector transforms the enterprises, improving the value chains and creating benefits for the rural communities where these enterprises are situated, there are still many barriers to digitalisation. This study has a dual aim: first, to analyse bioeconomy in the EU and the state of digitalisation in the EU, and second, to assess the barriers of the bioeconomy sector and ways to support digital transformation within this sector, focusing on agriculture as the main contributor to bioeconomy in the EU, taking Lithuania, Latvia, and Poland as the case studies. The cluster analysis was explored for the study of the digitalisation and R&D indicators of the EU. The Analytic Hierarchy Process (AHP) was used to determine digitalisation scenarios of the bioeconomy sector in Latvia, Lithuania, and Poland. Four stakeholder groups were selected as experts for the study: (i) national government, (ii) advisory and extension, (iii) research, and (iv) entrepreneurship. The findings of the cluster analysis identified 4 clusters in the EU, showing different levels of digitalisation. Strong links between digitalisation and R&D were also found. In this context, Latvia, Lithuania, and Poland were assigned to the low-performing cluster. The results of the AHP for the case studies of Latvia, Lithuania, and Poland indicate the overall need for prioritization of support for digital transformation using national and EU funding to achieve better results. Nonetheless, AHP findings also suggested that the opinions of the national government, consulting, and research experts were more aligned throughout all three countries, but the entrepreneurs’ opinions differed from these groups. These findings provide quantitative information regarding digitalisation in the bioeconomy of the EU. They also offer additional qualitative information about scenarios and criteria for increasing the level of digitalisation in the bioeconomy sector in Latvia, Lithuania, and Poland, which could be useful for policy-makers. This research could also have practical implications for shaping the future trajectory of the bioeconomy policy.

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Use of the Analytic Hierarchy Process and Selected Methods in the Managerial Decision-Making Process in the Context of Sustainable Development

Cited by 6 publications

References 28 publications

Ranking the Importance of Marketing Strategies in Building Client Loyalty

Ranking the Importance of Marketing Strategies in Building Client Loyalty

Advanced Logistics Strategy of a Company to Create Sustainable Development in the Industrial Area

Digitalisation in Bioeconomy in the Baltic States and Poland

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