Special Issue "Recent Process on Strategic Planning and Decision Making"

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Fuzzy Set Theory".

Deadline for manuscript submissions: closed (31 May 2021).

Special Issue Editors

Prof. Dr. Nina Begicevic Redep
E-Mail Website
Guest Editor
Faculty of Organization and Informatics, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia
Interests: resource allocation; strategic planning; decision theory; multi-criteria decision making; e-learning
Prof. Dr. Blaženka Divjak
E-Mail Website
Guest Editor
Faculty of Organization and Informatics, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia
Interests: geometry; decision making; higher education; strategic planning
Dr. Nikola Kadoić
E-Mail Website
Guest Editor
Faculty of Organization and Informatics, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia
Interests: business decision making; multi-criteria decision making; e-learning; structured dialogue; social innovations

Special Issue Information

Dear Colleagues,

Strategic planning and decision-making are crucial activities in any organization. Enormous efforts should be undertaken to find the best solutions to different issues, challenges, and problems we face in the environment, which becomes more turbulent every day. This Special Issue is focused on applying the decision-making (DM) methods (both multi-criteria DM methods and methods for decision-making under uncertainty and risk) in strategic management in the organizations (enterprises, education institutions, health institutions, administrative or public institutions, local government units, and NGOs). The applications can be related to any of the main phases of strategic planning: problem identification, decision-making, implementation and monitoring of strategic decisions, and evaluation of strategic decisions. Novel approaches, i.e., new DM methods or currently known methods upgraded or adjusted to the DM problem needs, are especially welcome. Additionally, this section covers applying data mining techniques and big data analytics for strategic planning and decision-making purposes.

This Special Issue provides a platform for researchers from academia and industry to present their novel and unpublished work in the domain of strategic planning and decision-making. This will help foster future research in strategic planning and decision-making and its related fields and, consequently, support decision-makers to make good responses to the challenges they face.

Prof. Dr. Nina Begicevic Redep
Prof. Dr. Blaženka Divjak
Dr. Nikola Kadoić
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Mathematics is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Strategic planning
  • Decision-making
  • Turbulent environment
  • Decision-making methods
  • Data mining

Published Papers (8 papers)

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Research

Article
Organizational Mindfulness Assessment and Its Impact on Rational Decision Making
Mathematics 2021, 9(16), 1851; https://doi.org/10.3390/math9161851 - 05 Aug 2021
Viewed by 473
Abstract
Ever since its appearance in the organizational research literature, the importance of organizational mindfulness has consistently increased. For this reason, this study has the following two research objectives: first, to explore the positive effect of organizational mindfulness (OM) on the rationality of the [...] Read more.
Ever since its appearance in the organizational research literature, the importance of organizational mindfulness has consistently increased. For this reason, this study has the following two research objectives: first, to explore the positive effect of organizational mindfulness (OM) on the rationality of the decision-making process and second, to propose a framework to assess the extent of its presence in organizations. For the first objective, exploratory partial least square structure modeling (PLS-SEM) was conducted, while for the second goal, an evaluation framework based on the Analytic Hierarchy Process (AHP) was developed. Surveying 117 decision-making leaders in the field, organizational mindfulness and its constitutive processes that include resistance to simplify interpretations, preoccupation with failure, sensitivity of operations and commitment to resiliency with deference to expertise, were empirically studied. A significant positive effect of these dimensions and OM as a whole on the rationality of the decision-making process was statistically shown. For this reason, it is important to assess the extent of the presence of organizational mindfulness in organizations. The use of this AHP-based OM evaluation framework is demonstrated for the case of the complex health sector in Colombia. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
Complexity Constraint in the Distributor’s Pallet Loading Problem
Mathematics 2021, 9(15), 1742; https://doi.org/10.3390/math9151742 - 23 Jul 2021
Cited by 1 | Viewed by 476
Abstract
This paper presents a study on the complexity of cargo arrangements in the pallet loading problem. Due to the diversity of perspectives that have been presented in the literature, complexity is one of the least studied practical constraints. In this work, we aim [...] Read more.
This paper presents a study on the complexity of cargo arrangements in the pallet loading problem. Due to the diversity of perspectives that have been presented in the literature, complexity is one of the least studied practical constraints. In this work, we aim to refine and propose a new set of metrics to measure the complexity of an arrangement of cargo in a pallet. The parameters are validated using statistical methods, such as principal component analysis and multiple linear regression, using data retrieved from the company logistics. Our tests show that the number of boxes was the main variable responsible for explaining complexity in the pallet loading problem. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
Efficiency of Commercial Banking in Developing Countries
Mathematics 2021, 9(14), 1597; https://doi.org/10.3390/math9141597 - 07 Jul 2021
Viewed by 608
Abstract
The aim of this paper is to evaluate the relative efficiency of commercial banks in three developing countries in Europe (North Macedonia, Serbia, and Croatia) in the period from 2015 to 2019, and to provide targets for improvement for the inefficient banks by [...] Read more.
The aim of this paper is to evaluate the relative efficiency of commercial banks in three developing countries in Europe (North Macedonia, Serbia, and Croatia) in the period from 2015 to 2019, and to provide targets for improvement for the inefficient banks by using DEA. The variables are selected under the income-based approach. Based on the output-oriented BCC model, unusual results are obtained for a few commercial banks in each country, that is, they are BCC relative efficient, which is contrary to the real situation. In order to identify outliers that can affect the efficiency results, a super-efficiency procedure is applied so that banks with a super-efficiency score higher than 1.2 (outliers) or for which a feasible solution was not found are considered in detail and removed, and then the output-oriented BCC model is rerun. Based on the obtained results, the Macedonian commercial banking system shows the highest efficiency (91.1%), followed by the Croatian (90.9%) and the Serbian (81.9%) banking system. The estimated targets for improvement of the inefficient commercial banks could help their top bank management in better resource allocation and making fact-based and faster decisions by which they can improve the operation of the banks they lead and contribute to the stability of the financial system. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
Predicting Entrepreneurial Intentions among the Youth in Serbia with a Classification Decision Tree Model with the QUEST Algorithm
Mathematics 2021, 9(13), 1487; https://doi.org/10.3390/math9131487 - 24 Jun 2021
Viewed by 559
Abstract
Youth unemployment rates present an issue both in developing and developed countries. The importance of analyzing entrepreneurial activities comes from their significant role in economic development and economic growth. In this study, a 10-year research was conducted. The dataset included 5670 participants—students from [...] Read more.
Youth unemployment rates present an issue both in developing and developed countries. The importance of analyzing entrepreneurial activities comes from their significant role in economic development and economic growth. In this study, a 10-year research was conducted. The dataset included 5670 participants—students from Serbia. The main goal of the study is to attempt to predict entrepreneurial intentions among the Serbian youth by analyzing demographics characteristics, close social environment, attitudes, awareness of incentive means, and environment assessment as potential influencing factors. The data analysis included Chi-square, Welch’s t-test, z-test, linear regression, binary logistic regression, ARIMA (Autoregressive Integrated Moving Average) regression, and a QUEST (Quick, Unbiased, Efficient, Statistical Tree) classification tree algorithm. The results are interesting and indicate that entrepreneurial intentions can be partially predicted using the dataset in this current study. Further, most likely due to the robust dataset, the results are not complementary with similar studies in this domain; therefore, these findings expand the current literature and invite future research. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
Hybrid MCDM Based on VIKOR and Cross Entropy under Rough Neutrosophic Set Theory
Mathematics 2021, 9(12), 1334; https://doi.org/10.3390/math9121334 - 09 Jun 2021
Viewed by 525
Abstract
Problems in real life usually involve uncertain, inconsistent and incomplete information. An example of such problems is strategic decision making with respect to remediation planning of historic pedestrian bridges. The multiple decision makers and experts, as well as the various mutually conflicting criteria, [...] Read more.
Problems in real life usually involve uncertain, inconsistent and incomplete information. An example of such problems is strategic decision making with respect to remediation planning of historic pedestrian bridges. The multiple decision makers and experts, as well as the various mutually conflicting criteria, unknown criteria weights, and vagueness and duality in final decisions, provide motivation to develop a methodology that is able to resist the challenges implicit in this problem. Therefore, the aim of this research was to propose an algorithm based on the theory of rough neutrosophic sets in order to solve the problem of strategic planning with respect to the remediation of historic pedestrian bridges. A new multicriteria decision-making model is developed that is a fusion of rough set and neutrosophic set theory. A new cross entropy is proposed under a rough neutrosophic environment that does not possess the shortcomings of asymmetrical character and unknown occurrences. Additionally, a weighted rough neutrosophic symmetric cross entropy is proposed. Furthermore, a rough neutrosophic VIKOR method is introduced, with which the values of the utility measure, regret measure and VIKOR index are obtained. These values, as well as the weighted rough neutrosophic symmetric cross entropy measure, are used to provide a ranking of historic pedestrian bridges favorable to remediation. Finally, an illustrative example of the strategic planning of remediation for historic pedestrian bridges is solved and compared to other research, demonstrating the robustness, feasibility and efficacy of the model when dealing with complex multicriteria decision-making processes. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
Computational Statistics and Machine Learning Techniques for Effective Decision Making on Student’s Employment for Real-Time
Mathematics 2021, 9(11), 1166; https://doi.org/10.3390/math9111166 - 21 May 2021
Cited by 2 | Viewed by 961
Abstract
The present study accentuated a hybrid approach to evaluate the impact, association and discrepancies of demographic characteristics on a student’s job placement. The present study extracted several significant academic features that determine the Master of Business Administration (MBA) student placement and confirm the [...] Read more.
The present study accentuated a hybrid approach to evaluate the impact, association and discrepancies of demographic characteristics on a student’s job placement. The present study extracted several significant academic features that determine the Master of Business Administration (MBA) student placement and confirm the placed gender. This paper recommended a novel futuristic roadmap for students, parents, guardians, institutions, and companies to benefit at a certain level. Out of seven experiments, the first five experiments were conducted with deep statistical computations, and the last two experiments were performed with supervised machine learning approaches. On the one hand, the Support Vector Machine (SVM) outperformed others with the uppermost accuracy of 90% to predict the employment status. On the other hand, the Random Forest (RF) attained a maximum accuracy of 88% to recognize the gender of placed students. Further, several significant features are also recommended to identify the placement of gender and placement status. A statistical t-test at 0.05 significance level proved that the student’s gender did not influence their offered salary during job placement and MBA specializations Marketing and Finance (Mkt&Fin) and Marketing and Human Resource (Mkt&HR) (p > 0.05). Additionally, the result of the t-test also showed that gender did not affect student’s placement test percentage scores (p > 0.05) and degree streams such as Science and Technology (Sci&Tech), Commerce and Management (Comm&Mgmt). Others did not affect the offered salary (p > 0.05). Further, the χ2 test revealed a significant association between a student’s course specialization and student’s placement status (p < 0.05). It also proved that there is no significant association between a student’s degree and placement status (p > 0.05). The current study recommended automatic placement prediction with demographic impact identification for the higher educational universities and institutions that will help human communities (students, teachers, parents, institutions) to prepare for the future accordingly. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
A Model for the Evaluation of Critical IT Systems Using Multicriteria Decision-Making with Elements for Risk Assessment
Mathematics 2021, 9(9), 1045; https://doi.org/10.3390/math9091045 - 06 May 2021
Viewed by 500
Abstract
One of the important objectives and concerns today is to find efficient means to manage the information security risks to which organizations are exposed. Due to a lack of necessary data and time and resource constraints, very often it is impossible to gather [...] Read more.
One of the important objectives and concerns today is to find efficient means to manage the information security risks to which organizations are exposed. Due to a lack of necessary data and time and resource constraints, very often it is impossible to gather and process all of the required information about an IT system in order to properly assess it within an acceptable timeframe. That puts the organization into a state of increased security risk. One of the means to solve such complex problems is the use of multicriteria decision-making methods that have a strong mathematical foundation. This paper presents a hybrid multicriteria model for the evaluation of critical IT systems where the elements for risk analysis and assessment are used as evaluation criteria. The iterative steps of the design science research (DSR) methodology for development of a new multicriteria model for the objectives of evaluation, ranking, and selection of critical information systems are delineated. The main advantage of the new model is its use of generic criteria for risk assessment instead of redefining inherent criteria and calculating related weights for each individual IT system. That is why more efficient evaluation, ranking, and decision-making between several possible IT solutions can be expected. The proposed model was validated in a case study of online banking transaction systems and could be used as a generic model for the evaluation of critical IT systems. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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Article
The Sorting Process as a Tool for Promoting the Demand of Heterogeneous Customers
Mathematics 2021, 9(2), 152; https://doi.org/10.3390/math9020152 - 12 Jan 2021
Viewed by 688
Abstract
The present study concerns product diversification. The products differ in size, shape, flavor, fat content, etc., so that the producer can more specifically modify the particular product to the unique requirements of nonhomogeneous customers. The mathematical model assumes diversified demands of nonhomogeneous consumers [...] Read more.
The present study concerns product diversification. The products differ in size, shape, flavor, fat content, etc., so that the producer can more specifically modify the particular product to the unique requirements of nonhomogeneous customers. The mathematical model assumes diversified demands of nonhomogeneous consumers for an initial unsorted item. The sorting process generates a better match between customer requirements and the actual supply of sorted products. Thus, the implementation of sorting costs allows for an increase in customer demands by adopting product characteristics that are closer to customer needs and tastes. The study also considers the pricing policy for diversified products in order to determine if price discrimination is preferable for attaining the manufacturer’s goal of profit maximization. Full article
(This article belongs to the Special Issue Recent Process on Strategic Planning and Decision Making)
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