Strategy Portfolio Optimisation: A COPRAS G-MODM Hybrid Approach
Moein Beheshti, Hannan Amoozad Mahdiraji, Edmundas Kazimieras Zavadskas
Abstract
Designing organisational strategies in various businesses is a commonly employed practice; nevertheless, nowadays the strategy portfolio optimisation is one of the major controversial issues. This research proposes an inclusive model to evaluate and select organisational strategies based on the boundaries of its resources. In order to achieve such a model, first of all, a grey COPRAS model is applied to evaluate organisational strategies under uncertain circumstances. Subsequently, on the basis of the aforementioned method, a mixed integer multi-objective linear programming model is depicted to optimise the strategy selection process according to COPRAS-G strategy significance results and with regard to time, cost and other structural constraints as well as organisational policies. Ultimately, a mixed COPRAS G-MODM is transformed to a binary goal programming model and the suggested approach is employed in Iran Mercantile Exchange for strategy portfolio optimisation.