3rd Asia Pacific International Conference on Industrial Engineering and Operations Management

Application of Best-Worst Method (BWM) in Prioritization of International Business Strategies

0 Paper Citations
Track: Business Management

This research provides a step by step methodology to prioritize international business strategies. Although the concept of business strategy has been vastly investigated in previous literature, its prioritization is less examined in conjunction with Multiple-Criteria Decision Making (MCDM) approaches. In addition, the problem is not adequately investigated in developing countries. Furthermore, recent MCDM model such as Best-Worst Method (BWM) are more appropriate tools in comparison with older approaches such as Analytic Hierarchy Process (AHP) as they need less judgments. In this regard, to address the gap of previous literature, this study has been arranged in two linked phases as follows. The first phase of this research examines different business strategies of previous literature. In this regard, a literature survey is completed to investigate different business strategies of previous studies. Following, the second phase applies a BWM to investigate and prioritize these strategies. The obtained results show that international business strategy, global business strategy, transnational business strategy and multi-country business strategy are the most important alternatives, respectively. Lastly, a summary and some directions for future research are suggested in the final section of study.

Published in: 3rd Asia Pacific International Conference on Industrial Engineering and Operations Management, Johor Bahru, Malaysia

Publisher: IEOM Society International
Date of Conference: September 13-15, 2022

ISBN: 978-1-7923-9162-0
ISSN/E-ISSN: 2169-8767