A Strategy for Employing Multi-Criteria Decision-Making Techniques to Make Efficient Business Decisions

Abstract

Decision-makers typically struggle to find a balance between competing objectives in today's complex business environment. Multi-criteria decision-making (MCDM) techniques provide a rigorous and dependable framework for managing this complexity by enabling the evaluation of many, often conflicting criteria. This research offers a comprehensive strategy for enhancing the efficacy of business decision-making through the use of MCDM techniques. The strategy incorporates the Analytic Hierarchy Process (AHP), the Technique
for Order of Preference by Similarity to Ideal Solution (TOPSIS), and other significant MCDM approaches. This paper illustrates the benefits of MCDM in decision process optimization and achieving long-term business results.