Evaluating Strategic Entry Decisions Using Spherical Fuzzy Sets

Abstract

In today’s economy, companies have to constantly develop new strategies and have to choose whether to expand into new markets, stabilize in or exit from the existing markets. The entry in to the new markets is a complex strategic decision; it does not only involve the entry mode decision but also in some occasions involve partner selection. When the entry modes such as mergers, acquisitions, joint ventures or strategic alliances are selected, partner selection become the major determinant of the success. Attributes such as partners’ resources, technological diversity, common benefits or the size of the partners have a significant impact on the success of the entry decisions. Yet, under different environmental conditions partners may show different performances. It is not easy to evaluate partners under these uncertainties. Spherical fuzzy sets enable dealing with hesitancy and uncertainty. In this study, a minimax regret based spherical fuzzy decision making approach is developed for evaluating the partners in the market entry decisions.