A mathematical programming model for optimal selection of enterprise growth strategies using fuzzy approach

Abstract

ABSTRACT Constant growth is crucial for sustainable enterprise operations, encompassing increased sales, turnover, profits, and market share. Growth strategies can be organic or inorganic, with organic strategies leveraging internal strengths and inorganic strategies relying on external factors. Selecting the optimal combination of strategies with limited resources and timing is a key management challenge. Traditional approaches struggle with non-linear market changes. This study proposes a mathematical programming model, including single-objective and multi-objective models. The multi-objective model is transformed using fuzzy theory. The case results and sensitivity analysis demonstrate that these models effectively help enterprises select the best growth strategy combination.