INTERNATIONAL MARKET SELECTION USING FUZZY WEIGHING AND MONTE CARLO SIMULATION
Journal Title: Polish Journal of Management Studies - Year 2017, Vol 16, Issue 2
Abstract
This article aims to develop a methodology for the international market selection (IMS), using fuzzy logic for the uncertainty of the variables in the market evaluation. Therefore, several procedures are proposed, including market pre-selection, criteria definition, criteria weighting, data collection, data variability and a market evaluation model. Through Monte Carlo simulation, the market evaluation model measures the stability of international markets for exporting when criteria are fuzzy. A case study for the export of frozen beef from Colombia validates the methodology. The proposed approach helps to improve the exporting performance, and it is applicable for small and medium enterprises because the model uses free access data sources, and the algorithms of the market evaluation model can be performed in spreadsheets.<br/><br/>
Authors and Affiliations
Jose Cano, Emiro Campo, Rodrigo Gómez-Montoya
Keywords
Related Articles
- EP ID EP248528
- DOI 10.17512/pjms.2017.16.2.04
- Views 116
- Downloads 0
THE COMPETITIVE ADVANTAGES AND INTERNATIONALIZATION OF EMERGING ECONOMY BUSINESS GROUPS
The existing literature on the competitiveness of emerging economy firms does not fully distinguish the different types of firm-specific advantages that influence the firm’s internationalization decisions. This paper add...
A COMPARATIVE ANALYSIS OF THE PERCEPTIONS OF BUSINESS CHAMBERS IN RURAL AND URBAN SOUTH AFRICA ON THE DEVELOPMENTAL ROLE OF LOCAL GOVERNMENT
The local economic (LED) triangle consisting of coordinated partnerships between local businesses, government and communities is key for local regions to achieve acceptable levels of economic growth and development. From...
The Management of Reputation and Activeness of Crowdfunding Players in Emerging Market Countries
This study aims to determine the role of backers' activeness, entrepreneur's activeness, and entrepreneur's reputation on the fundraising performance of crowdfunding projects conducted in developing countries between 201...
EXPERT SYSTEMS USED IN INDUSTRIAL PRODUCTION MANAGEMENT
In the conditions of computing the human society, the operational management activities can be improved by using artificial intelligence. Therefore, an expert system is proposed, for the metallurgical industry, for the c...
RESEARCHING OF SOCIALLY RESPONSIBLE BEHAVIOUR IN SELECTED COMPANIES AND ORGANIZATIONS THROUGH THEIR CORPORATE WEBSITES
In recent years we have been living in the world of growing interest about the issue of corporate social responsibility (CSR) which, in practice, is supported by national and multinational organizations, the European Uni...