PEST Analysis Based on Neutrosophic Cognitive Maps: A Case Study for Food Industry

Abstract

Neutrosophic cognitive maps and its application in decision making have become a topic of great importance for researchers and practitioners alike.PEST (Political, Economic, Social and Technological), analysis is a precondition analysis with the main functions of the identification of the environment within which and organization or project the operates and providing data and information for enabling the organization to make predictions about new situations and circumstances. In this paper, paper, a new model PEST analysis for food industry is presented based on neutrosophic cognitive maps static analysis. The proposed framework is composed of four activities, identifying PEST factors and sub-factors, modeling interrelation among PEST factors, calculate centrality measures and  classification andranking. A case study is presented food industry environment analysis. Our approach allows ranking of factors based in interrelation and incorporating indeterminacy in the analysis. Further works will concentrate extending the model for incorporating scenario analysis and group decision making.