MEREC-COBRA APPROACH IN E-COMMERCE DEVELOPMENT STRATEGY SELECTION

Gabrijela Popović; Đorđe Pucar; Florentin Smarandache

doi:10.5937/jpmnt10-41073

Gabrijela Popović Faculty of Applied Management, Economics and Finance, Belgrade, University Business Academy in Novi Sad, Belgrade, Serbia
Đorđe Pucar Faculty of Applied Management, Economics and Finance, Belgrade, University Business Academy in Novi Sad, Belgrade, Serbia
Florentin Smarandache Department of Mathematics, University of New Mexico, Gallup, New Mexico, United States of America

DOI: https://doi.org/10.5937/jpmnt10-41073

Abstract

The research objective of the paper is to propose a model, based on the Multiple-Criteria Decision-Making (MCDM) methods, that facilitates a selection process of an adequate strategy directed to the development of e-commerce. For that aim, the MEthod based on the Removal Effects of Criteria (MEREC) is applied for defining the criteria weights. The recently proposed COmprehensive Distance Based RAnking (COBRA) method is used for the final assessment and ranking of the considered alternatives. The applicability of the proposed model is tested by using an example borrowed from the literature. Three alternative development strategies are assessed against five evaluation criteria. The final results proved the applicability and reliability of the proposed MCDM model.

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