european journal of social sciences issn: 1450-2267 - EuroJournals

European Journal of Social Sciences – Volume 5, Number 3 (2007)
methods to solve it appropriately. Unlike traditional MCDM methods are based on the independence
assumption, the ANP is a relative new MCDM method which can deal with all kinds of dependences
systematically. For the purpose of helping companies to evaluate and select ERM best practice
successfully, I have proposed an effective method based on the ANP. Additionally, this study has
contributed to extend practical applications of ANP in ERM field. ERM required to significant
managerial efforts and organizational recourses. Both Fraport A.G. and TAV has to be best practice
criterias to achievement best implementation of the ERM.
In this paper, I have developed a framework based on ANP to identify the degree of impact of
factors affecting best ERM practice. I used the ANP for decision making with dependence and
feedback. ANP is a new methodology that incorporates feedback and interdependent relationships
among decision attributes and alternatives. It leads to fresh insights about issues.
In this study, I have determined 16 factors affecting best ERM practice. The factors affecting
best ERM practice could be qualitative as well as quantitative. There are many qualitative concerns
when assessing the factors critical to the ERM practice. ANP enabled us to incorporate both
quantitative and qualitative factors, which are very important in selecting best operator to ERM. This
research contributes to both ERM knowledge and ANP implementation. From ERM perspective I
propose an ANP-based framework for selection of best operator in the airport business related with
current ERM implementations. From an ANP implementation point of view it is the most
comprehensive one.
Based on our model I found that Fraport A.G. is best operator from the TAV Airport Holding
Co. Fraport is given %68 rate about current ERM practice. Most of the existing models that investigate
the factors affecting ERM implementation have used various survey methods. I have shown an
alternative approach using expert judgment. The ANP approach, as a part of this methodology, not
only leads to a logical result but also enables the decision-makers to visualize the impact of various
criteria in the final result. Since ANP is capable of dealing with all kinds of feedback and dependence
when modeling a complex decision environment, I contend that my results are more accurate. ANP
deals with uncertainty and complexity and provides insights that other, more traditional methods could
miss. The ANP approach is capable of taking into consideration both qualitative and quantitative
criteria.
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