Sustainable strategies selection in SMEs Using MCDM approach

Since the nineties, companies have started to recognize the relevance of integrating sustainability in their corporate strategies. However, despite this increasing awareness, integrating sustainability in corporate strategy remains a challenge for many organisations due to the need of dealing with a wide range of issues. This research discusses more about the sustainable strategies selection in a SME and develops a model based on integrated multicriteria decision making (MCDM) methods to solve such problems. The developed model applies Entropy weighting method and Vikor algorithm to effectively analyze the weight of each sustainability criteria and to select the best sustainable strategies while capturing all subjective and objective criteria. A case study is illustrated to test the proposed model in a Batik SME. Results show that profits and facility requirements are the two most important criteria in sustainable strategies selection. This implies that during sustainable strategies selection, it is suggested that emphasis should be placed on revenue generation and facilities needed of the respective strategies.