Application of TOPSIS to Analyze Stakeholder Relations

Yucel Ozturkoglu, Duygu Turker

Abstract


In parallel to the increasing competition in business environment, managing stakeholder relations has become critical for most organizations. Balancing the interests of various parties in the nexus of their relative power can increase the difficulty of managing relations with these key stakeholders. Therefore, most organizations need to adapt a new approach when evaluating their relations with stakeholders. The purpose of this study is to analyze stakeholder relations with considering their relative power and interests in a given set of stakeholders. A survey was conducted on a sample of 59 managers and the data was analyzed through following the technique for order of preference by similarity to ideal solution (TOPSIS). The results of study revealed that both power and interest of stakeholder should be considered in the assessment of stakeholder relationship.

Keywords


Interorganizational relations; multi-criteria decision making; stakeholders;TOPSIS

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DOI: http://dx.doi.org/10.18533/ijbsr.v3i5.23

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International journal of business and social research (Print)
ISSN 2164-2540

International journal of business and social research (Online)
ISSN 2164-2559

[International Journal of Business and Social Research (IJBSR) previously published by MIR Center for Socio-Economic Research, MD, USA. From February 2018 this journal is published by the LAR Center Press, OR, USA]