Exploiting Fuzzy Cognitive Maps in Resiliency Related Management Decisions
Exploiting Fuzzy Cognitive Maps in Resiliency Related Management Decisions

Author(s): David Ward, Paolo Trucco
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: ASERS Publishing
Keywords: fuzzy cognitive maps; disruption; resilience; business continuity; management; decisions; dependency; interdependency
Summary/Abstract: Operational resilience refers to the ability of an organization and its management to prevent disruptions from occurring as well as the aptitude to react quickly to and recover from a disruption of primary business and relative processes. Such scenarios pertain to human-centric collaborative commerce systems. The playing field thus encompasses complex socio-technical-economical systems, risk-crisis management and expert judgments in multi-actor and multi-criteria fuzzy decision making circumstances. Fuzzy cognitive mapping lends itself particularly well to these circumstances and has already been successfully investigated in a wide range of applications, from ecological system modelling to knowledge processing. Operational resilience and business continuity management are a further two ideal applications for FCMs (Fuzzy Cognitive Maps) and are proposed and discussed in detail in this chapter.

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