european journal of social sciences issn: 1450-2267 - EuroJournals
european journal of social sciences issn: 1450-2267 - EuroJournals
european journal of social sciences issn: 1450-2267 - EuroJournals
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European Journal <strong>of</strong> Social Sciences – Volume 5, Number 3 (2007)<br />
methods to solve it appropriately. Unlike traditional MCDM methods are based on the independence<br />
assumption, the ANP is a relative new MCDM method which can deal with all kinds <strong>of</strong> dependences<br />
systematically. For the purpose <strong>of</strong> helping companies to evaluate and select ERM best practice<br />
successfully, I have proposed an effective method based on the ANP. Additionally, this study has<br />
contributed to extend practical applications <strong>of</strong> ANP in ERM field. ERM required to significant<br />
managerial efforts and organizational recourses. Both Fraport A.G. and TAV has to be best practice<br />
criterias to achievement best implementation <strong>of</strong> the ERM.<br />
In this paper, I have developed a framework based on ANP to identify the degree <strong>of</strong> impact <strong>of</strong><br />
factors affecting best ERM practice. I used the ANP for decision making with dependence and<br />
feedback. ANP is a new methodology that incorporates feedback and interdependent relationships<br />
among decision attributes and alternatives. It leads to fresh insights about issues.<br />
In this study, I have determined 16 factors affecting best ERM practice. The factors affecting<br />
best ERM practice could be qualitative as well as quantitative. There are many qualitative concerns<br />
when assessing the factors critical to the ERM practice. ANP enabled us to incorporate both<br />
quantitative and qualitative factors, which are very important in selecting best operator to ERM. This<br />
research contributes to both ERM knowledge and ANP implementation. From ERM perspective I<br />
propose an ANP-based framework for selection <strong>of</strong> best operator in the airport business related with<br />
current ERM implementations. From an ANP implementation point <strong>of</strong> view it is the most<br />
comprehensive one.<br />
Based on our model I found that Fraport A.G. is best operator from the TAV Airport Holding<br />
Co. Fraport is given %68 rate about current ERM practice. Most <strong>of</strong> the existing models that investigate<br />
the factors affecting ERM implementation have used various survey methods. I have shown an<br />
alternative approach using expert judgment. The ANP approach, as a part <strong>of</strong> this methodology, not<br />
only leads to a logical result but also enables the decision-makers to visualize the impact <strong>of</strong> various<br />
criteria in the final result. Since ANP is capable <strong>of</strong> dealing with all kinds <strong>of</strong> feedback and dependence<br />
when modeling a complex decision environment, I contend that my results are more accurate. ANP<br />
deals with uncertainty and complexity and provides insights that other, more traditional methods could<br />
miss. The ANP approach is capable <strong>of</strong> taking into consideration both qualitative and quantitative<br />
criteria.<br />
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