Mathematics

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29 pages, 4152 KiB

Open AccessArticle

Organizational Mindfulness Assessment and Its Impact on Rational Decision Making

by Yuli L. León and Enrique Mu

Mathematics 2021, 9(16), 1851; https://doi.org/10.3390/math9161851 - 5 Aug 2021

Cited by 4 | Viewed by 2975

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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20 pages, 4097 KiB

Open AccessArticle

Complexity Constraint in the Distributor’s Pallet Loading Problem

by Hugo Barros, Teresa Pereira, António G. Ramos and Fernanda A. Ferreira

Mathematics 2021, 9(15), 1742; https://doi.org/10.3390/math9151742 - 23 Jul 2021

Cited by 3 | Viewed by 2351

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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21 pages, 5037 KiB

Open AccessArticle

Efficiency of Commercial Banking in Developing Countries

by Violeta Cvetkoska, Katerina Fotova Čiković and Marija Tasheva

Mathematics 2021, 9(14), 1597; https://doi.org/10.3390/math9141597 - 7 Jul 2021

Cited by 13 | Viewed by 3691

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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27 pages, 1837 KiB

Open AccessArticle

Predicting Entrepreneurial Intentions among the Youth in Serbia with a Classification Decision Tree Model with the QUEST Algorithm

by Dejan Djordjevic, Dragan Cockalo, Srdjan Bogetic and Mihalj Bakator

Mathematics 2021, 9(13), 1487; https://doi.org/10.3390/math9131487 - 24 Jun 2021

Cited by 10 | Viewed by 2681

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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27 pages, 11073 KiB

Open AccessFeature PaperArticle

Hybrid MCDM Based on VIKOR and Cross Entropy under Rough Neutrosophic Set Theory

by Katarina Rogulj, Jelena Kilić Pamuković and Majda Ivić

Mathematics 2021, 9(12), 1334; https://doi.org/10.3390/math9121334 - 9 Jun 2021

Cited by 9 | Viewed by 2206

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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29 pages, 1447 KiB

Open AccessArticle

Computational Statistics and Machine Learning Techniques for Effective Decision Making on Student’s Employment for Real-Time

by Deepak Kumar, Chaman Verma, Pradeep Kumar Singh, Maria Simona Raboaca, Raluca-Andreea Felseghi and Kayhan Zrar Ghafoor

Mathematics 2021, 9(11), 1166; https://doi.org/10.3390/math9111166 - 21 May 2021

Cited by 12 | Viewed by 3844

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

χ^{2}

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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24 pages, 2425 KiB

Open AccessArticle

A Model for the Evaluation of Critical IT Systems Using Multicriteria Decision-Making with Elements for Risk Assessment

by Davor Maček, Ivan Magdalenić and Nina Begičević Ređep

Mathematics 2021, 9(9), 1045; https://doi.org/10.3390/math9091045 - 6 May 2021

Cited by 4 | Viewed by 2846

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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18 pages, 780 KiB

Open AccessArticle

The Sorting Process as a Tool for Promoting the Demand of Heterogeneous Customers

by Tchai Tavor, Limor Dina Gonen and Uriel Spiegel

Mathematics 2021, 9(2), 152; https://doi.org/10.3390/math9020152 - 12 Jan 2021

Cited by 1 | Viewed by 2013

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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